Financial Deregulation and Monetary Control: Historical Perspective and Impact of the 1980 Act
Hoover Institution Press, Stanford University, Jan 1, 1982 - Business & Economics - 154 pages
The Depository Institutions Deregulation and Monetary Control Act of 1980 has been the most comprehensive attempt at financial and monetary reform since the 1930s. Based on the authors' experience as visiting scholars in the Division of Banking Research and Economic Policy at the Office of the Comptroller in 1980, this study explores the act's historical antecedents, its purpose, and its potential effects on the financial system and the condut of monetary policy during the 1980s. The authors examine the strengths and weaknesses of this important first step in the series of reforms required to improve monetary control and create a more flexible, efficient, and competitive financial system.
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Problems with the Structure of the Financial System
Impact of the Studies
MAIN FEATURES OF THE 1980 ACT
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achieve act's assets banking system banks and thrifts borrowers central bank changes Chapter competitive conduct of monetary constraints consumer cost credit unions currency demand deposits depository institutions Depression Deregulation and Monetary DIDC discount rate disintermediation economy effects environment equation Eurodollar example federal funds rate Federal Reserve Board Federal Reserve System financial institutions financial reform financial system flow of funds growth Hunt Report increase industry inflation interest rates interest-rate ceilings intermediate target issue Kane legislation liabilities loan associations market rates member banks ment MMMFs monetarist monetary aggregates monetary base Monetary Control Act monetary policy money market money multiplier money stock money supply mortgage mutual savings banks nonbank omnibus act open market operations percent period portfolios rate of interest ratio reduce Regulation Q removal of Regulation repurchase agreements reserve requirements Reserve's restrictions role savings and loan shift small bank term structure risk tion transaction accounts Treasury variability
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