Restructuring the American financial system

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Restructuring the American financial system

edited by George G. Kaufman ; with contributions by George J. Benston ... [et al.]

Kluwer Academic Publishers, c1990

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Includes bibliographical references and index

Description and Table of Contents

Description

In light of the periodic malfunctions in important sectors of the finan cial services industry in recent years, such as commercial banking, thrift institutions, and the securities market, numerous proposals have been developed for restructuring the financial system to improve both its safety and efficiency. Among the groups analyzing the performance of the financial system and recommending changes where necessary, has been the Shadow Financial Regulatory Committee. This Committee, which is described in greater detail in Chapter 1, consists of 12 independent banking experts from the academic and practitioner worlds that meet quarterly to analyze current developments in the financial services indus try and to make recommendations for improvements that would be in the public interest. The purpose of the Committee, its members, and a listing of policy statements are included in the Appendix. All but one of the chapters in this volume represent essays by indi vidual members of the Committee on issues discussed by the Committee at recent meetings and that, for the most part, resulted in policy state ments. They basically discuss the reasons for the policy statement adopted and place the issue in perspective. Where appropriate, the rele vant section of the respective policy statement is presented at the begin ning of each chapter. Each essay, however, reflects only the views of the individual author and not necessarily those of other members of the Committee or of the Committee as a whole.

Table of Contents

1 Purpose and Operation of the Shadow Financial Regulatory Committee.- 2 Guaranty of Deposits Under the Banking Act of 1933.- 3 Restructuring Banking: The Shadow Financial Regulatory Committee's Program for Banking Reform.- 4 Market-Value Accounting by Banks: Benefits, Costs and Incentives.- 5 The Savings and Loan Rescue of 1989: Causes and Perspectives.- 6 Never Again: The S & L Bailout Bill.- 7 The Collapse of the Texas Thrift Industry: Causes of the Problem and Implications for Reform.- 8 Defective Regulatory Incentives and the Bush Initiative.- 9 The Need For Timely and Accurate Measures of Federal Deposit Insurers' Net Reserve Position.- 10 Regulatory Reform of Securities and Futures Markets: Two Years After the Crash.- Statement of Purpose.- List of Members.- List of Policy Statements.- Policy Statement No. 26.- Policy Statement No. 36.- Policy Statement No. 39.- Policy Statement No. 41.- Policy Statement No. 43.

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