Implementing Dodd–Frank: Orderly Resolution

Martin J. Gruenberg

Chapter 9 in Dodd–Frank Wall Street Reform and Consumer Protection Act:Purpose, Critique, Implementation Status and Policy Issues, 2014, pp 159-166 from World Scientific Publishing Co. Pte. Ltd.

Abstract: I would like to take the opportunity to discuss one of those challenging issues — the orderly resolution of systemically important financial institutions (SIFIs). The Dodd–Frank Wall Street Reform and Consumer Protection Act provided important new authority to the FDIC to resolve SIFIs. Prior to the recent crisis, the FDIC's receivership authority was limited to federally insured banks and thrift institutions. There was no authority to place the holding company or affiliates of an insured institution or any other nonbank financial company into an FDIC receivership to avoid systemic consequences. The lack of this authority severely constrained the ability of the government to resolve a SIFI. This authority has now been provided to the FDIC under the Dodd–Frank Act (DFA)…

Keywords: Dodd-Frank; Financial Regulation; Macroprudential Regulation; Systemic Risk; Volcker Rule; Resolution Authority; Consumer Protection; Central Clearinghouses (CCPs) (search for similar items in EconPapers)
JEL-codes: G01 G18 N2 (search for similar items in EconPapers)
Date: 2014
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