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A Supervisor's View of the Current Financial Turmoil

In: The First Credit Market Turmoil Of The 21st Century Implications for Public Policy

Author

Listed:
  • Cathy Lemieux

    (Federal Reserve Bank of Chicago, USA)

  • Steven VanBever

    (Federal Reserve Bank of Chicago, USA)

Abstract

This paper offers some interim reflections on the current financial turmoil, from a supervisor's point of view. To provide perspective, we will begin by briefly surveying the banking crises of the 1980s and early 1990s,1 including the most important legislative responses to these crises. Next, we will outline some of the ways the current financial turmoil is different from the previous episode. We will continue by summarizing some of the “lessons learned” from the current situation, both for banks and for bank supervisors. Finally, we will survey some of the policy responses to the current financial turmoil, both short-term and longer-term.

Suggested Citation

  • Cathy Lemieux & Steven VanBever, 2009. "A Supervisor's View of the Current Financial Turmoil," World Scientific Book Chapters, in: Douglas D Evanoff & Philipp Hartmann & George G Kaufman (ed.), The First Credit Market Turmoil Of The 21st Century Implications for Public Policy, chapter 16, pages 267-280, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789814280488_0016
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