Consolidated Regulation and Supervision in the United States

International Monetary Fund

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Date Published 2011
Version IMF Working Paper
Primary Author Ashok Vir Bhatia
Other Authors
Country United States


This paper builds on a Technical Note produced as part of the IMF’s 2010 Financial Sector Assessment Program (FSAP) review of the United States. It addresses enterprise-wide oversight of financial groups, a key tool to mitigate systemic risk. Focusing on legal arrangements, it recommends eliminating exceptions for holding companies owning certain limited-purpose banks, harmonizing arrangements for bank and thrift holding companies, and bringing into the net a few systemic non-bank financial groups, with the Federal Reserve as the sole consolidated regulator and supervisor.

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