## Consolidated Regulation and Supervision in the United States

_IMF Working Papers, January 1, 2011_

## Source details

**Canonical URL:** [Consolidated Regulation and Supervision in the United States](https://www.imf.org/en/publications/wp/issues/2016/12/31/consolidated-regulation-and-supervision-in-the-united-states-24607)

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## Bibliographic details
- Authors: Ashok Vir Bhatia
- Published: January 1, 2011
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781455211920.001

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### Overview and purpose
- Author: Ashok Vir Bhatia
- Publication date: January 1, 2011
- Builds on: a Technical Note produced as part of the IMF’s 2010 Financial Sector Assessment Program (FSAP) review of the United States.
- Core focus: enterprise-wide oversight of financial groups as a tool to mitigate systemic risk, with emphasis on legal arrangements.

### Key findings
- Enterprise-wide (consolidated) oversight is a key tool to mitigate systemic risk for financial groups.
- Existing legal arrangements create exceptions and inconsistencies that weaken consolidated supervision.
- Some nonbank financial groups with systemic relevance lie outside the consolidated regulatory perimeter.

### Principal policy recommendations
- Eliminate exceptions for holding companies owning certain limited-purpose banks.
- Harmonize arrangements for bank and thrift holding companies.
- Bring into the regulatory perimeter a few systemic nonbank financial groups.
- Designate the Federal Reserve as the sole consolidated regulator and supervisor.

### Subject coverage and keywords
- Subject areas: Banking; Brokers and dealers; Commercial banks; Consolidated banking supervision; Financial institutions; Financial markets; Financial regulation and supervision; Securities.
- Keywords (as provided): Bank holding company; Brokers and dealers; Commercial banks; company; consoldated regulation; Consolidated banking supervision; consolidated supervision; derivative product company; Europe; Fed oversight; Fed umbrella supervision; full-scope securities underwriting; futures commission merchants; Global; group structure; holding company; investment banking group; net capital; nonfinancial group; savings and loan holding company; Securities; securities broker-dealers; securities broker-dealing; WP

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_Source: https://www.imf.org/en/publications/wp/issues/2016/12/31/consolidated-regulation-and-supervision-in-the-united-states-24607_