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Regulation’s role in bank changes

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  • Peter Olson

Abstract

This is the first article in a series which explores the changing role of banks in the financial intermediation process. It accompanies a Liberty Street Blog series. Both discuss the complexity of the credit intermediation chain associated with securitization and note the growing participation of nonbank entities within it. These series also discuss implications for monitoring and rulemaking going forward. In the article, the author argues that government involvement has been a significant factor in financial innovation and describes a number of the regulatory, legal, and policy decisions that have influenced the development of the new financial intermediation landscape and shaped banks' roles within it.

Suggested Citation

  • Peter Olson, 2012. "Regulation’s role in bank changes," Economic Policy Review, Federal Reserve Bank of New York, issue Jul, pages 13-20.
    • Handle: RePEc:fip:fednep:y:2012:i:jul:p:1-8:n:v.18no.2
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    File URL: https://www.newyorkfed.org/medialibrary/media/research/epr/12v18n2/1207olso.pdf
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    References listed on IDEAS

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    1. Kenneth Spong, 2000. "Banking regulation : its purposes, implementation, and effects," Monograph, Federal Reserve Bank of Kansas City, number 2000bria.
    2. Acharya, Viral V. & Schnabl, Philipp & Suarez, Gustavo, 2013. "Securitization without risk transfer," Journal of Financial Economics, Elsevier, vol. 107(3), pages 515-536.
    3. Larry D. Wall, 1989. "Capital requirements for banks: a look at the 1981 and 1988 standards," Economic Review, Federal Reserve Bank of Atlanta, issue Mar, pages 14-29.
    4. Marcia Millon Cornett & Evren Ors & Hassan Tehranian, 2002. "Bank Performance around the Introduction of a Section 20 Subsidiary," Journal of Finance, American Finance Association, vol. 57(1), pages 501-521, February.
    5. Gary Gorton, 2008. "The panic of 2007," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 131-262.
    6. Lawrence White, 2004. "Fannie Mae, Freddie Mac, and Housing Finance: Why True Privatization is Good Public Policy," Working Papers 04-13, New York University, Leonard N. Stern School of Business, Department of Economics.
    7. R. Alton Gilbert, 1986. "Requiem for Regulation Q: what it did and why it passed away," Review, Federal Reserve Bank of St. Louis, issue Feb, pages 22-37.
    8. Jith Jayaratne & Philip E. Strahan, 1996. "The Finance-Growth Nexus: Evidence from Bank Branch Deregulation," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 111(3), pages 639-670.
    9. Kolb, Robert W., 2011. "The Financial Crisis of Our Time," OUP Catalogue, Oxford University Press, number 9780199730551, Decembrie.
    10. Berger, Allen N. & Buch, Claudia M. & DeLong, Gayle & DeYoung, Robert, 2004. "Exporting financial institutions management via foreign direct investment mergers and acquisitions," Journal of International Money and Finance, Elsevier, vol. 23(3), pages 333-366, April.
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    Cited by:

    1. Elias Bengtsson, 2014. "Fund Management and Systemic Risk – Lessons from the Global Financial Crisis," Financial Markets, Institutions & Instruments, John Wiley & Sons, vol. 23(2), pages 101-124, May.

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