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==Selected financial institutions==


===Banks===
====The United States [http://www.comptrollerofthecurrency.gov/nb/nbguide.pdf]====
Bank of America[http://www.bankofamerica.com/index.cfm?page=about]


J P Morgan Chase[http://www.jpmorganchase.com/cm/cs?pagename=Chase/Href&urlname=jpmc/about]
==Regulatory structures==
Four types of regulatory structure have been identified[http://www.deloitte.com/dtt/cda/doc/content/The%20structure%20of%20Financial%20Supervision.pdf]:


Citibank[http://www.citibank.com/us/index.htm]
*The institutional approach,  in which a firm’s legal status determines which regulator is tasked with overseeing its activity;
*The functional approach, in which supervisory oversight is determined by the business that is being transacted by the entity  so that each type of business activity has its own regulator;
*The integrated approach,  in which a single universal regulator conducts both safety and soundness oversight and conduct-of-business regulation for all the sectors of financial services business; and,
*The twin peaks approach,  in which  one regulator  performs  safety and soundness supervision function and the other  focuses on conduct-of-business regulation.


Wachovia[https://www.wachovia.com/]


====The United Kingdom====
==Reform agendas==
HSBC[http://www.hsbc.co.uk/1/2/]


Lloyds Banking Group[http://www.lloydsbankinggroup.com/]
'''Markets in Financial Instruments Directive'''[http://www.eubusiness.com/Finance/mifid-guide/] (EU) October 2007.


Royal Bank of Scotland Group[http://www.rbs.com/home.ashx]
'''Report of the Financial Stability Forum'''[http://www.financialstabilityboard.org/publications/r_0804.pdf?noframes=1] April 2008.


Barclays[http://group.barclays.com/Home]
'''The G30 report'''[http://www.group30.org/pubs/reformreport.pdf] October 2008


===Other finance providers===
'''The [[G20 summit]]s''' November 2008 and April 2009.


===Investment managers===
'''Report of the Congressional Oversight Panel'''[http://cop.senate.gov/documents/cop-012909-report-regulatoryreform.pdf]  (US) January 2009.


Goldman Sachs[http://www2.goldmansachs.com/services/index.html]
'''Report of the de Larosière Group'''[http://ec.europa.eu/commission_barroso/president/pdf/statement_20090225_en.pdf] (EU)  February 2009.


Bridgewater Associates[http://www.bwater.com/]
'''Federal Reserve Board proposals'''[http://www.federalreserve.gov/newsevents/speech/bernanke20090310a.htm] (US) March 2009.


===Credit rating agencies===
'''The Obama plan''' (US) June 2009 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]


Standard and Poor's[http://www2.standardandpoors.com/portal/site/sp/en/eu/page.home/home/0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0.html]
'''Treasury and Bank of England  proposals'''  [http://www.hm-treasury.gov.uk/press_57_09.htm#primaryContentFull][http://www.hm-treasury.gov.uk/press_57_09.htm#primaryContentFull] (UK) June 2009.


Moodys[http://www.moodys.com/cust/default.asp]
'''Council Conclusions on Strengthening EU financial supervision'''[http://www.consilium.europa.eu/uedocs/cms_data/docs/pressdata/en/ecofin/108389.pdf] (EU) 9th June 2009.


FitchRatings[http://www.fitchratings.com/]
'''[[Sarbanes-Oxley Act]]''', 2002 U.S. laws and regulations intended to protect against financial irregularity in public companies. (A response to major corporate failures that involved poor auditing, such as [[Enron]] and [[Worldcom]]).
 
===Stock exchanges===
 
The New York Stock Exchange
 
NASDAQ
 
The London Stock Exchange
 
===Regulators===
 
Federal Deposit Insurance Corporation[http://www.fdic.gov/]
 
Qffice of the Comptroller of the Currency[http://www.comptrollerofthecurrency.gov]
 
National Credit Union Administration[http://www.ncua.gov/]
 
===Central banks===
 
The [[Federal Reserve System]][http://www.federalreserve.gov/aboutthefed/default.htm]
 
The [[European Central Bank]][http://www.ecb.int/ecb/html/index.en.html]
 
The [[Bank of England]][http://www.bankofengland.co.uk/]
 
===International institutions===
The [[International Monetary Fund]][http://www.imf.org/external/about.htm] was set up in 1944, mainly to provide loans to member governments in support of policies to deal with [[balance of payments]] problems. In recent years it has also  devoted its resources to the strengthening of the international financial system and relieving  financial crises. It also  advises member governments about their economic problems and, when necessary, it grants loans to help resolve them.
 
The [[World Bank]] provides low-interest loans, interest-free credit and grants to developing countries, finances selected private sector projects,. guarantees foreign investors against non-commercial risks  and settles disputes between foreign investors and host countries.
 
The [[Bank for International Settlements]] serves as the central banks’ bank and provides a forum to promote discussion and policy analysis among central bank governors and senior executives. Its  committees include the Basel Committee on Banking Supervision and the Committee on the Global Financial System.
 
==Reform committees and their proposals==

Latest revision as of 10:01, 8 February 2010

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https://en.citizendium.org/wiki/index.php?title=Financial_system/Addendum&printable=yes
This addendum is a continuation of the article Financial system.


Regulatory structures

Four types of regulatory structure have been identified[1]:

  • The institutional approach, in which a firm’s legal status determines which regulator is tasked with overseeing its activity;
  • The functional approach, in which supervisory oversight is determined by the business that is being transacted by the entity so that each type of business activity has its own regulator;
  • The integrated approach, in which a single universal regulator conducts both safety and soundness oversight and conduct-of-business regulation for all the sectors of financial services business; and,
  • The twin peaks approach, in which one regulator performs safety and soundness supervision function and the other focuses on conduct-of-business regulation.


Reform agendas

Markets in Financial Instruments Directive[2] (EU) October 2007.

Report of the Financial Stability Forum[3] April 2008.

The G30 report[4] October 2008

The G20 summits November 2008 and April 2009.

Report of the Congressional Oversight Panel[5] (US) January 2009.

Report of the de Larosière Group[6] (EU) February 2009.

Federal Reserve Board proposals[7] (US) March 2009.

The Obama plan (US) June 2009 White Paper: Financial Regulatory Reform:[8]. Fact Sheets:Requiring Strong Supervision And Appropriate Regulation Of All Financial Firms[9]; Strengthening Regulation Of Core Markets And Market Infrastructure [10];Strengthening Consumer Protection[11]; Providing The Government With Tools To Effectively Manage Failing Institutions[12]; Improving International Regulatory Standards And Cooperation[13]

Treasury and Bank of England proposals [14][15] (UK) June 2009.

Council Conclusions on Strengthening EU financial supervision[16] (EU) 9th June 2009.

Sarbanes-Oxley Act, 2002 U.S. laws and regulations intended to protect against financial irregularity in public companies. (A response to major corporate failures that involved poor auditing, such as Enron and Worldcom).

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