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Implementing Dodd–Frank: Orderly Resolution

In: DODD–FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT Purpose, Critique, Implementation Status and Policy Issues

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  • Martin J. Gruenberg

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)…

Suggested Citation

  • Martin J. Gruenberg, 2014. "Implementing Dodd–Frank: Orderly Resolution," World Scientific Book Chapters, in: Douglas D Evanoff & William F Moeller (ed.), DODD–FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT Purpose, Critique, Implementation Status and Policy Issues, chapter 9, pages 159-166, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789814590044_0009
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    More about this item

    Keywords

    Dodd-Frank; Financial Regulation; Macroprudential Regulation; Systemic Risk; Volcker Rule; Resolution Authority; Consumer Protection; Central Clearinghouses (CCPs) ;
    All these keywords.

    JEL classification:

    • N2 - Economic History - - Financial Markets and Institutions
    • G01 - Financial Economics - - General - - - Financial Crises
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation

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