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FINANCIAL MARKET COURSES

Financial Authorities (US)

Financial regulation in the US is a complex affair, with the various sectors of the financial markets regulated by numerous agencies and other entities. For many years, regulation was relatively loose, which yielded space for innovation and expansion in the banking sector. Banks took full advantage and profits soared. A number of institutions became ‘too big to fail’.

 

The financial crisis brought the era of lax regulatory standards to a crashing halt. Banks, and their regulation (or lack of), became front page news. Gaps and weaknesses in the supervision and regulation of the financial industry were laid bare for all to see. The US government responded by introducing the most sweeping set of reforms to the regulatory landscape since the aftermath of the Great Depression.

 

This course looks at the structure of the US regulatory environment and the role of the various key regulators. It also describes the massive changes that have come about as a result of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.

  • OBJECTIVES

    On completion of this course, you will be able to:

    Describe the vital role played by the Federal Reserve (the 'Fed') in providing a safe, flexible, and stable monetary and financial system

    Outline the main responsibilities of other key regulators

    Describe the key provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010

  • COURSE OUTLINE

    Topic 1: Federal Reserve System

    Background

    Responsibilities of the Federal Reserve

    Structure of the Federal Reserve

    o Board of Governors (FRB)

    o Federal Reserve Banks

    o Federal Open Market Committee (FOMC)

    Monetary Policy

    o Open Market Operations

    o Discount Rate

    o Reserve Requirements

    o Interest on Required Reserve Balances and Excess Balances

    o Term Deposit Facility (TDF)

    Supervision & Regulation

    Financial Stability

    The Payments System

    Topic 2: Other Key Regulators

    Department of the Treasury

    Securities and Exchange Commission (SEC)

    Office of the Comptroller of the Currency (OCC)

    Federal Deposit Insurance Corporation (FDIC)

    Commodity Futures Trading Commission (CFTC)

    Bureau of Consumer Financial Protection (BCFP)

    Other Federal Regulators

    Self-Regulatory Organizations (SROs)

    Topic 3: Dodd-Frank Wall Street Reform and Consumer Protection Act

    Objective of Dodd-Frank Act

    Financial Stability

    o Financial Stability Oversight Council (FSOC)

    o Office of Financial Research (OFR)

    o Identifying Systemically Important Companies

    • Who is Systemically Important?

    • What are the Enhanced Prudential Standards?

    Orderly Liquidation Authority

    Volcker Rule

    Wall Street Transparency and Accountability Act

    Other Provisions of Dodd-Frank Act

  • PREREQUISITE KNOWLEDGE

  • ESTIMATED COMPLETED TIME

    75 Minutes

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