2012beof-111206092256-phpapp02

Larger regional banks with operations in colorado

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Unformatted text preview: Dodd-Frank 2011 Update In October 2011, Fed President Ben Bernanke stated that one of the most important legacies of the financial crisis would be the recognition by central banks of their dual responsibility (restoration of financial stability policy and co-equal status with monetary policy in pursuit 60 of macroeconomic objectives). One of the cornerstones of this new “financial stability” was the Dodd-Frank Act, which created the Consumer Financial Protection Bureau. By the time of this writing in November 2011, only a small portion of the law had been implemented, with a significant portion yet to be written. A summary of some of the recent provisions and changes in 2011 include: • Systemic Risk: In October, the Federal Reserve announced it had finished its “Living Will” proposal for banks and systemically important financial institutions (“nonbanks”) given its resolution authority granted by Dodd-Frank. This should provide investors and depositors with greater confidence i...
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This note was uploaded on 02/11/2013 for the course MGMT 231 taught by Professor Yu during the Spring '13 term at Bauder.

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