President Obama’s Plan for Regulatory Reform of Our Financial System

Note:  The Obama Administration has released a regulatory reform plan designed to “modernize and protect the integrity of our financial system.” … according the the Treasury … the plan will:

  • Require that all financial firms that pose a significant risk to the financial system at large are subjected to strong consolidated supervision and regulation
  • Increase market discipline and transparency to make our markets strong enough to withstand system-wide stress and the potential failure of one or more large financial institutions
  • Rebuild trust in our markets by creating the Consumer Financial Protection Agency to focus exclusively on protecting consumers in credit, savings, and payment markets.
  • Provide the government with the tools needed to manage financial crises so it is not forced to choose between bailouts and financial collapse
  • Raise international regulatory standards and improve international coordination

Below are Links to the White Paper and Fact Sheets:

White Paper: Financial Regulatory Reform:

http://www.financialstability.gov/docs/regs/FinalReport_web.pdf

Fact sheets:

Requiring Strong Supervision And Appropriate Regulation Of All Financial Firms

http://www.financialstability.gov/docs/regulatoryreform/requiring_strong_supervision_reg_finfirms.pdf

Strengthening Regulation Of Core Markets And Market Infrastructure

http://www.financialstability.gov/docs/regulatoryreform/strengthening_reg_core-markets_infrastructure.pdf

Strengthening Consumer Protection

http://www.financialstability.gov/docs/regulatoryreform/strengthening_consumer_protection.pdf

Providing The Government With Tools To Effectively Manage Failing Institutions

http://www.financialstability.gov/docs/regulatoryreform/providing_govt_tools_manage_fincrisis.pdf

Improving International Regulatory Standards And Cooperation

http://www.financialstability.gov/docs/regulatoryreform/improving_internatl_reg_standards_co-op.pdf

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