FRINK Linked Data Fragments server

Matches in SemOpenAlex for { <https://semopenalex.org/work/W1569011893> ?p ?o ?g. }

• W1569011893 startingPage "953" @default.
• W1569011893 abstract "The Truth in Savings Act mandates that financial institutions disclose certain information about the terms of consumer deposit accounts in specific forms and at specific times. Although many depository institutions provided disclosures of account terms before the act was passed in 1991, most did not satisfy completely all the requirements of the regulation (Regulation DD) adopted by the Federal Reserve Board to implement the law. Thus, the Truth in Savings law likely caused every depository institution to change its practices for consumer deposit accounts, and thereby to incur costs. ; To improve understanding of the process and costs of implementing regulatory changes, the Federal Reserve Board conducted the Survey of Compliance Costs for Truth in Savings in 1992-93, during the implementation period for the regulation. Presented in this study are survey findings on the changes in consumer deposit account practices and the costs of compliance at U.S. commercial banks. One of the key questions addressed in the study is how sensitive start-up costs for a regulation are to the extent of required changes in banks' policies and practices: Do banks that must make extensive changes incur greater costs in proportion to the amount of change? Evidence on this question, which was not previously available, has implications for regulatory agency policies on the frequency and magnitude of changes in regulations. ; Responses to the survey indicate that most banks provided extensive written disclosures to consumers before Truth in Savings but that most banks, if not all, had to change some policies and practices for consumer deposit accounts to comply with the law. The cost to banks of implementing the changes was $337 million in total, or $29,390 per bank. Statistical analysis using a cost function reveals that there were economies of scale in complying with Truth in Savings, a result that gives further credence to the findings of earlier studies involving other regulations. The implication of the finding is that small firms have a cost disadvantage in complying with new regulations. ; This study breaks new ground in examining the relationship between amount of change and compliance costs. Statistical analysis indicates that start-up costs for complying with Truth in Savings were insensitive to the extensiveness of necessary changes: Banks incurred implementation costs regardless of how much they had to change their practices. This result suggests that requiring banks to alter an infrequent practice may impose costs on all banks, not just on those that must make substantive changes. It also argues against a policy of making frequent minor revisions in regulations. An alternative policy of accumulating adjustments and making infrequent major revisions may reduce implementation costs by allowing banks to exploit economies of changing practices." @default.
• W1569011893 created "2016-06-24" @default.
• W1569011893 creator A5015056639 @default.
• W1569011893 creator A5039123203 @default.
• W1569011893 date "1997-12-01" @default.
• W1569011893 modified "2023-09-26" @default.
• W1569011893 title "The Cost of Implementing Consumer Financial Regulations: An Analysis of Experience with the Truth in Savings Act" @default.
• W1569011893 cites W1514219263 @default.
• W1569011893 cites W1973695731 @default.
• W1569011893 cites W2062321133 @default.
• W1569011893 cites W2119127480 @default.
• W1569011893 cites W2182224928 @default.
• W1569011893 cites W3124201178 @default.
• W1569011893 hasPublicationYear "1997" @default.
• W1569011893 type Work @default.
• W1569011893 sameAs 1569011893 @default.
• W1569011893 citedByCount "3" @default.
• W1569011893 crossrefType "posted-content" @default.
• W1569011893 hasAuthorship W1569011893A5015056639 @default.
• W1569011893 hasAuthorship W1569011893A5039123203 @default.
• W1569011893 hasConcept C10138342 @default.
• W1569011893 hasConcept C108170787 @default.
• W1569011893 hasConcept C111472728 @default.
• W1569011893 hasConcept C121955636 @default.
• W1569011893 hasConcept C138885662 @default.
• W1569011893 hasConcept C144133560 @default.
• W1569011893 hasConcept C15744967 @default.
• W1569011893 hasConcept C162324750 @default.
• W1569011893 hasConcept C17744445 @default.
• W1569011893 hasConcept C199539241 @default.
• W1569011893 hasConcept C2777731549 @default.
• W1569011893 hasConcept C2779601481 @default.
• W1569011893 hasConcept C2780510313 @default.
• W1569011893 hasConcept C2781460075 @default.
• W1569011893 hasConcept C2989499966 @default.
• W1569011893 hasConcept C54750564 @default.
• W1569011893 hasConcept C77805123 @default.
• W1569011893 hasConceptScore W1569011893C10138342 @default.
• W1569011893 hasConceptScore W1569011893C108170787 @default.
• W1569011893 hasConceptScore W1569011893C111472728 @default.
• W1569011893 hasConceptScore W1569011893C121955636 @default.
• W1569011893 hasConceptScore W1569011893C138885662 @default.
• W1569011893 hasConceptScore W1569011893C144133560 @default.
• W1569011893 hasConceptScore W1569011893C15744967 @default.
• W1569011893 hasConceptScore W1569011893C162324750 @default.
• W1569011893 hasConceptScore W1569011893C17744445 @default.
• W1569011893 hasConceptScore W1569011893C199539241 @default.
• W1569011893 hasConceptScore W1569011893C2777731549 @default.
• W1569011893 hasConceptScore W1569011893C2779601481 @default.
• W1569011893 hasConceptScore W1569011893C2780510313 @default.
• W1569011893 hasConceptScore W1569011893C2781460075 @default.
• W1569011893 hasConceptScore W1569011893C2989499966 @default.
• W1569011893 hasConceptScore W1569011893C54750564 @default.
• W1569011893 hasConceptScore W1569011893C77805123 @default.
• W1569011893 hasIssue "12" @default.
• W1569011893 hasLocation W15690118931 @default.
• W1569011893 hasOpenAccess W1569011893 @default.
• W1569011893 hasPrimaryLocation W15690118931 @default.
• W1569011893 hasRelatedWork W129180184 @default.
• W1569011893 hasRelatedWork W1491759023 @default.
• W1569011893 hasRelatedWork W1492846905 @default.
• W1569011893 hasRelatedWork W1551914831 @default.
• W1569011893 hasRelatedWork W1586138934 @default.
• W1569011893 hasRelatedWork W1599973307 @default.
• W1569011893 hasRelatedWork W2000112833 @default.
• W1569011893 hasRelatedWork W2007014960 @default.
• W1569011893 hasRelatedWork W2077359718 @default.
• W1569011893 hasRelatedWork W2116959708 @default.
• W1569011893 hasRelatedWork W218464599 @default.
• W1569011893 hasRelatedWork W2342086305 @default.
• W1569011893 hasRelatedWork W2353830914 @default.
• W1569011893 hasRelatedWork W269406851 @default.
• W1569011893 hasRelatedWork W2907585639 @default.
• W1569011893 hasRelatedWork W292710445 @default.
• W1569011893 hasRelatedWork W3122065664 @default.
• W1569011893 hasRelatedWork W3126113070 @default.
• W1569011893 hasRelatedWork W3188768484 @default.
• W1569011893 hasRelatedWork W297537302 @default.
• W1569011893 hasVolume "83" @default.
• W1569011893 isParatext "false" @default.
• W1569011893 isRetracted "false" @default.
• W1569011893 magId "1569011893" @default.
• W1569011893 workType "article" @default.