Bank Oversight Structure: U. S. and Foreign Experience May Offer Lessons for Modernizing U. S. Structure
Proposals to consolidate U.S. bank regulatory agencies have raised questions about how other countries structure and carry out their various bank regulation and central bank activities. This report discusses the structure and operations of bank oversight and central bank activities in five countries: Canada, France, Germany, Japan and the United Kingdom. Identifies potential avenues for oversight modernization, and identifies the characteristics of the 5 countries' regulatory structures that might be useful to consider in any U.S. oversight modernization effort. Tables.
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activities assess assets audit bank holding companies Bank of England Bank Oversight Structure Bank Oversight Systems bank regulators Bank Regulatory Structure bank supervisor banking industry banking institutions banking system banks and thrifts Board Canada central bank chartering commercial banks Congress Consider in Efforts coordination countries we studied depository institutions Efforts to Modernize enforcement actions external auditors fdic fdic's federal banking agencies Federal Deposit Insurance Federal Reserve Federal Reserve Board Federal Reserve System FFIEC finance ministries financial audits financial institutions financial system five countries Foreign Bank Oversight foreign oversight functions Germany independent institution's Interstate Banking issues Japan member banks Modernize U.S. Bank monetary policy national banks nonbank subsidiaries off-site monitoring on-site examinations oversight agencies oversight entities proposal reduce regulatory burden regulation and supervision regulatory agencies reviewed safety and soundness Structure Is Redundant supervisory information Thrift Oversight Treasury U.S. Bank Oversight United
Page 30 - Committee shall maintain long run growth of the monetary and credit aggregates commensurate with the economy's long run potential to increase production, so as to promote effectively the goals of maximum employment, stable prices, and moderate long-term interest rates.
Page 1 - Development, a member of the Board of Governors of the Federal Reserve System, the Chairman of the Federal Deposit Insurance Corporation, the Comptroller of the Currency and the Administrator of the National Credit Union Administration participated under an informal memorandum of agreement.
Page 32 - They must also comply with requirements of the self-regulatory organizations, such as the New York Stock Exchange and the National Association of Securities Dealers.
Page 106 - Members of the Board of Governors are appointed by the President and confirmed by the Senate for 14-year terms.
Page 25 - ... Association of Supervisors of State Banks in an annual survey are listed in Table II. The model state banking code does not recommend a particular salary for the Commissioner. A bureau within the Department of the Treasury is charged with the examination and supervision of national banks. This bureau is headed by the Comptroller of the Currency, who is appointed by the President with the advice and consent of the Senate for a term of five years, unless sooner removed by the President for reasons...
Page 25 - Office of the Comptroller of the Currency The Office of the Comptroller of the Currency was created by act of Congress approved February 25, 1863 (12 Stat.
Page 35 - May 1994 in accordance with generally accepted government auditing standards. We provided a draft of this report to SEC, Treasury, NASD, and NYSE for review and comment. Their comments and our evaluation are presented at the end of this letter.
Page 100 - CHAIRMAN, BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM BEFORE THE * COMMITTEE ON BANKING, HOUSING, AND URBAN AFFAIRS US SENATE...
Page 39 - Currently, according to officials with whom we spoke, regulators are moving toward a risk-management approach and concentrating on institutions' risk profiles6 and internal controls. Examiners rate five critical areas of operations — capital adequacy (C), asset quality (A), management (M), earnings (E), and liquidity (L) — to determine an overall rating (CAMEL).
Page 42 - ... Securities and Exchange Commission; or (ii) If the holding company has consolidated assets of $150 million or more, the sections in the bank holding company's consolidated financial statements for the most recent year end and the prior year end on Form FR-Y-9C ("Consolidated Financial Statements for Bank Holding Companies With Total Consolidated Assets of $150 Million or More, or With More Than One Subsidiary Bank...