THE IMPACT OF NEW REGULATIONS ON FINANCIAL INSTITUTIONS – DODD-FRANK ACT
Journal Title: Zbornik radova Ekonomskog fakulteta Brcko - Year 2016, Vol 1, Issue 10
Abstract
Weakened functioning of the financial regulatory system, which led to global economic crisis, required urgent interventions and appropriate reforms. Systemic disorder has disrupted regular functioning of the money flow and related financial markets. One of the most influential reform initiatives originates from the american legislation in form of DoddFrank Act, which aims to increase transparency, protect the consumers from misuse and frauds and introduce the Wall Street reform. Setting up new financial and regulatory institutions under the Federal Reserve System (the Fed) helped establishing the control over large banks and credit unions, mortgage jobs, short-term loan lenders and other large nonbanking financial companies. Dodd-Frank Act strives to amend drawbacks of the Basel Convention regarding alleviation of the economic crisis effects, as well as its component, the Volcker rule, aims to separate banking from the business risk management.
Authors and Affiliations
Marko Krsmanović
Keywords
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- EP ID EP222527
- DOI 10.7251/ZREFB1610059K
- Views 95
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