FRINK Linked Data Fragments server

Matches in SemOpenAlex for { <https://semopenalex.org/work/W1514219980> ?p ?o ?g. }

• W1514219980 endingPage "10" @default.
• W1514219980 startingPage "5" @default.
• W1514219980 abstract "Good afternoon. It is a pleasure to participate in this forum on bank regulation and financial reform. As this audience is well aware, the banking industry has come a long way over the past five years, both in Texas and across the nation. Indeed, with record profits and strong capitalization, the industry is in its best condition in many years. Despite the current health of banking, it is important that we not become complacent about the need for banking reform. Financial markets are continuing to evolve at a rapid pace, bringing new opportunities and new competitive challenges to the banking industry. As I look at our existing regulatory structure, I believe that we have a very long way to go in modernizing financial regulations to allow banks to adapt to this changing environment. If we are to modernize our regulatory system and allow banks the flexibility to adapt to financial change, it is essential that we ask the right questions about the purposes of bank regulation. Currently, much of the regulatory debate focuses on the age-old question: Where do we draw the line between banks and other financial and nonfinancial institutions? As important as this question is, however, I believe that it begs a more fundamental question: Why do we regulate banks differently than other institutions? Unless we can answer this basic question, I fear that we may never achieve consensus on fundamental reform and will continue to rely on an incremental, reactive approach to bank regulation. In my remarks today, I want to suggest that we need to look beyond traditional arguments for bank regulation that focus on protection of bank depositors and the federal safety net. In my view, a compelling reason for bank regulation is to maintain the integrity of the payments system. Focusing on the payments system provides us with insight into two aspects of the current debate over bank regulation. First, the payments system gives us a clear rationale for drawing lines between banks and other financial institutions. Second, focusing on the payments system may provide new ideas on how we should regulate banks as we move into the next century. I. THE CHANGING FINANCIAL ENVIRONMENT Let me begin with a look at some of the forces behind the need to modernize the financial system. The central factor promoting change in financial markets worldwide is new technology, which is dramatically reducing the costs of information gathering, processing, and transmission. Technological change is paving the way for many new financial services that were previously too costly or complex to be viable. Examples are the growth of mutual funds, the use of derivatives to manage risk, and electronic banking products. Lower information costs and fewer production barriers have increased competition across different types of financial institutions. Initially, banks faced greater competition on the liability side of their balance sheets from money market mutual funds, brokered deposits, cash management accounts, and other instruments. More recently, similar developments have occurred on the asset side of the balance sheet, with banks experiencing competition from commercial paper, asset securitization, and nationwide credit card solicitations. And now, competition has extended to payments services, where banks once held a virtual monopoly. The most serious threat to the banks' payments franchise appears to be coming from electronic money and electronic payments services such as smart cards, Internet banking, and the provision of payments software, processing services, and communication linkages. Increased competition, in turn, is putting greater pressure on bank profits, forcing banks to innovate and expand into a broader array of potentially profitable services, including trading, risk management, and investment banking activities. Such services represent a key source of profits for many banks and are becoming an important means of attracting and retaining customers. …" @default.
• W1514219980 created "2016-06-24" @default.
• W1514219980 creator A5041996472 @default.
• W1514219980 date "1997-01-01" @default.
• W1514219980 modified "2023-09-26" @default.
• W1514219980 title "Bank Regulation: Asking the Right Questions" @default.
• W1514219980 cites W1490244801 @default.
• W1514219980 hasPublicationYear "1997" @default.
• W1514219980 type Work @default.
• W1514219980 sameAs 1514219980 @default.
• W1514219980 citedByCount "2" @default.
• W1514219980 crossrefType "posted-content" @default.
• W1514219980 hasAuthorship W1514219980A5041996472 @default.
• W1514219980 hasConcept C10138342 @default.
• W1514219980 hasConcept C13280743 @default.
• W1514219980 hasConcept C138885662 @default.
• W1514219980 hasConcept C144133560 @default.
• W1514219980 hasConcept C162324750 @default.
• W1514219980 hasConcept C187736073 @default.
• W1514219980 hasConcept C205649164 @default.
• W1514219980 hasConcept C2777351259 @default.
• W1514219980 hasConcept C2777526511 @default.
• W1514219980 hasConcept C2778660980 @default.
• W1514219980 hasConcept C2779137862 @default.
• W1514219980 hasConcept C2780598303 @default.
• W1514219980 hasConcept C34447519 @default.
• W1514219980 hasConcept C41895202 @default.
• W1514219980 hasConcept C510755694 @default.
• W1514219980 hasConcept C73283319 @default.
• W1514219980 hasConceptScore W1514219980C10138342 @default.
• W1514219980 hasConceptScore W1514219980C13280743 @default.
• W1514219980 hasConceptScore W1514219980C138885662 @default.
• W1514219980 hasConceptScore W1514219980C144133560 @default.
• W1514219980 hasConceptScore W1514219980C162324750 @default.
• W1514219980 hasConceptScore W1514219980C187736073 @default.
• W1514219980 hasConceptScore W1514219980C205649164 @default.
• W1514219980 hasConceptScore W1514219980C2777351259 @default.
• W1514219980 hasConceptScore W1514219980C2777526511 @default.
• W1514219980 hasConceptScore W1514219980C2778660980 @default.
• W1514219980 hasConceptScore W1514219980C2779137862 @default.
• W1514219980 hasConceptScore W1514219980C2780598303 @default.
• W1514219980 hasConceptScore W1514219980C34447519 @default.
• W1514219980 hasConceptScore W1514219980C41895202 @default.
• W1514219980 hasConceptScore W1514219980C510755694 @default.
• W1514219980 hasConceptScore W1514219980C73283319 @default.
• W1514219980 hasIssue "1" @default.
• W1514219980 hasLocation W15142199801 @default.
• W1514219980 hasOpenAccess W1514219980 @default.
• W1514219980 hasPrimaryLocation W15142199801 @default.
• W1514219980 hasRelatedWork W1551208811 @default.
• W1514219980 hasRelatedWork W1551239431 @default.
• W1514219980 hasRelatedWork W1552759258 @default.
• W1514219980 hasRelatedWork W1567867022 @default.
• W1514219980 hasRelatedWork W1582598204 @default.
• W1514219980 hasRelatedWork W16192574 @default.
• W1514219980 hasRelatedWork W1746423491 @default.
• W1514219980 hasRelatedWork W1751505489 @default.
• W1514219980 hasRelatedWork W2141370953 @default.
• W1514219980 hasRelatedWork W2226364741 @default.
• W1514219980 hasRelatedWork W2314353455 @default.
• W1514219980 hasRelatedWork W2501227010 @default.
• W1514219980 hasRelatedWork W273276059 @default.
• W1514219980 hasRelatedWork W3043767563 @default.
• W1514219980 hasRelatedWork W3122491155 @default.
• W1514219980 hasRelatedWork W3123097989 @default.
• W1514219980 hasRelatedWork W3124743707 @default.
• W1514219980 hasRelatedWork W3125263922 @default.
• W1514219980 hasRelatedWork W3128881779 @default.
• W1514219980 hasRelatedWork W3125552263 @default.
• W1514219980 hasVolume "82" @default.
• W1514219980 isParatext "false" @default.
• W1514219980 isRetracted "false" @default.
• W1514219980 magId "1514219980" @default.
• W1514219980 workType "article" @default.