Critical Assessment of Obama administration's Dodd-Frank Act: Part 2/3

Viral Acharya talks to Viv Davies about a new book, 'Regulating Wall Street'. He discusses the success and failings of the Dodd-Frank Act and its implications for the US financial system. He outlines the crucial role of derivatives, the new council of systemic risk, SIFIs and the different approaches to resolution in the US and Europe. Acharya compares the Basel III proposals with the US reforms and suggests what should be priorities for discussion at the upcoming G20 summit. The interview was recorded in London on 13 October 2010

"Regulating Wall Street: The Dodd-Frank Act and the New Architecture of Global Finance",
www.wiley.com/buy/9780470768778
Blog: http://w4.stern.nyu.edu/blogs/regulatingwallstreet/

John Wiley & Sons, October 2010,
co-edited by
Viral V Acharya, Thomas Cooley, Matthew Richardson and Ingo Walter
New York University Stern School of Business

Abstract:
The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 is widely described as the most ambitious and far-reaching overhaul of financial regulation since the 1930s. Together with other regulatory reforms introduced by the Securities and Exchange Commission (SEC), the Federal Reserve (Fed) and other regulators in the United States and Europe, it is going to alter the structure of financial markets in profound ways. In this talk (based on the book "Regulating Wall Street: The Dodd-Frank Act and the New Architecture of Global Finance"), Viral Acharya will provide an overall assessment of the Act in three different ways: from first principles in terms of how economic theory suggests we should regulate the financial sector; in a comparative manner -- relating the proposed reforms to those that were undertaken in the 1930s following the Great Depression; and, finally, how the proposed reforms would have fared in preventing and dealing with the crisis of 2007-2009 had they been in place at the time.

Category:

News & Politics

Tags:

• Crises
• Systemic
• risk
• Financial
• reforms
• Basel
• G20
• summit
• Resolution
• authority
• Capital
• requirements
• Derivatives