Regulatory Reform

32 Pages Posted: 30 Aug 2018

See all articles by Andrew Metrick

Andrew Metrick

Yale School of Management; National Bureau of Economic Research (NBER); Yale University - Yale Program on Financial Stability

June Rhee

Yale University - Yale Program on Financial Stability; Harvard Law School; Yale University - Yale Program on Financial Stability

Multiple version iconThere are 2 versions of this paper

Date Written: August 10, 2018

Abstract

In the wake of the global financial crisis (GFC), many nations embarked on reform to the financial regulatory system. This reform, unprecedented in its scope, touched virtually every part of the financial system in the United States and Western Europe. This article summarizes the key reforms, explains how these reforms fit together, assesses the relevant scholarly literature, and suggests six significant areas of open questions for researchers. These six areas are (a) liquidity rules, (b) central clearing of swaps, (c) shadow banking, (d) lenders of last resort, (e) extended guarantees, and (f) resolution and restructuring.

Keywords: global financial crisis, financial regulation, systemic risk, lender of last resort, Basel, Dodd–Frank Act

JEL Classification: G01, G18, G28

Suggested Citation

Metrick, Andrew and Rhee, June, Regulatory Reform (August 10, 2018). Available at SSRN: https://ssrn.com/abstract=3236290 or http://dx.doi.org/10.2139/ssrn.3236290

Andrew Metrick (Contact Author)

Yale School of Management ( email )

165 Whitney Avenue
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(203)-432-3069 (Phone)

HOME PAGE: http://faculty.som.yale.edu/andrewmetrick/

National Bureau of Economic Research (NBER) ( email )

1050 Massachusetts Avenue
Cambridge, MA 02138
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Yale University - Yale Program on Financial Stability

165 Whitney Avenue
P.O. Box 208200
New Haven, CT 06520-8200
United States

June Rhee

Yale University - Yale Program on Financial Stability ( email )

135 Prospect Street
P.O. Box 208200
New Haven, CT 06520-8200
United States

Harvard Law School ( email )

1563 Massachusetts Ave
Cambridge, MA 02138
United States

Yale University - Yale Program on Financial Stability

165 Whitney Avenue
P.O. Box 208200
New Haven, CT 06520-8200
United States

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