Financial regulation/Addendum

Regulatory and supervisory institutions

Regulators

International

Basel Committee on Banking Supervision:[1]

United States

Federal Reserve System:[2]

Federal Deposit Insurance Corporation[3]

Office of the Comptroller of the Currency[4]

National Credit Union Administration[5]

Europe

Responsibility for financial regulation in the European Union rests with the various national authorities, have recently adopted unified regulatory procedures.

United Kingdom

Financial Services Authority (UK)[6]

Central banks

The Federal Reserve System[7]

The European Central Bank[8] since the establishment of the euro as a common currency in 1999, the European Central Bank has operated the monetary policy of the European monetary system with objective of maintaining price stability, without generating excessive fluctuations in output.

The Bank of England[9]

International institutions

The International Monetary Fund[10] 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. It provides a home for the Financial Stability Forum.