FRINK Linked Data Fragments server

Matches in SemOpenAlex for { <https://semopenalex.org/work/W3125272105> ?p ?o ?g. }

• W3125272105 startingPage "249" @default.
• W3125272105 abstract "The financial crisis of 2007–2009 and its aftermath have accelerated a powerful consolidation trend in the U.S. banking industry. During the past three decades, the number of community banks and their share of the industry’s assets have fallen by more than half, and the largest banks have captured much of the industry’s assets. The federal government’s response to the financial crisis encouraged further consolidation by ensuring the survival of the biggest institutions while doing little to help community banks. Federal regulators allowed only one large depository institution (Washington Mutual) to fail, but they stood by while more than 450 community banks failed between 2008 and 2012. In addition to the fact that community banks received very limited assistance during the financial crisis, they must now comply with costly new regulatory burdens imposed by the Dodd–Frank Act. These developments threaten the viability of community banks, which provide essential services to small businesses, consumers and local economies. At the same time, Dodd–Frank does not provide an adequate solution to the growing risks posed by megabanks to our national and global economies. Dodd–Frank has not ended the “too big to fail” (TBTF) status of megabanks. In addition, big banks and their political allies have succeeded in weakening the implementation of even the relatively mild reforms called for by Dodd–Frank. This Article proposes a two-tiered system of regulation to correct the perverse effects of our current regulatory regime. The first tier of my proposed system would reduce regulatory burdens on community banks and encourage them to maintain their traditional business model of relationship-based intermediation. The second tier of my proposed system would seek to remove the TBTF subsidy for megabanks and other systemically important financial institutions 250 Michigan State Law Review 2015:249 (SIFIs). SIFIs would be required to conduct their deposit-taking activities within “narrow banks,” which would be barred from transferring their safety net subsidies to nonbank affiliates. SIFIs would also be required to pay risk-based premiums to prefund the Orderly Liquidation Fund, in order to shield taxpayers from the future costs of resolving failed SIFIs. By removing the TBTF subsidy, my proposal would enable financial markets and regulators to exercise more effective discipline over our largest financial institutions. In addition, SIFIs would be obliged to pay at least half of their compensation to senior executives and key employees in the form of contingent convertible bonds (CoCos). CoCos would help to align the personal incentives of executives and other key employees of SIFIs with the interests of creditors, the FDIC, and taxpayers. My proposed two-tiered system of regulation would help to restore a more balanced, diverse, and resilient banking industry. Community banks have compiled a superior record of meeting the needs of their customers while maintaining a stable business model that serves the longer-term interests of their stakeholders and communities. In contrast, megabanks have shown a strong and persistent tendency to pursue short-term, high-risk strategies that produce boom-and-bust cycles and impose tremendous costs on our economy and taxpayers. If the TBTF subsidy for megabanks were removed, those banks would have strong incentives to spin off risky activities and adopt more conservative and transparent business policies." @default.
• W3125272105 created "2021-02-01" @default.
• W3125272105 creator A5003695718 @default.
• W3125272105 creator A5036802745 @default.
• W3125272105 date "2015-09-02" @default.
• W3125272105 modified "2023-09-23" @default.
• W3125272105 title "A Two-Tiered System of Regulation Is Needed to Preserve the Viability of Community Banks and Reduce the Risks of Megabanks" @default.
• W3125272105 hasPublicationYear "2015" @default.
• W3125272105 type Work @default.
• W3125272105 sameAs 3125272105 @default.
• W3125272105 citedByCount "1" @default.
• W3125272105 countsByYear W31252721052019 @default.
• W3125272105 crossrefType "journal-article" @default.
• W3125272105 hasAuthorship W3125272105A5003695718 @default.
• W3125272105 hasAuthorship W3125272105A5036802745 @default.
• W3125272105 hasConcept C10138342 @default.
• W3125272105 hasConcept C105639569 @default.
• W3125272105 hasConcept C138885662 @default.
• W3125272105 hasConcept C139043278 @default.
• W3125272105 hasConcept C139719470 @default.
• W3125272105 hasConcept C144133560 @default.
• W3125272105 hasConcept C144587487 @default.
• W3125272105 hasConcept C162324750 @default.
• W3125272105 hasConcept C2776014549 @default.
• W3125272105 hasConcept C2777731549 @default.
• W3125272105 hasConcept C2778137410 @default.
• W3125272105 hasConcept C2778300220 @default.
• W3125272105 hasConcept C2779601481 @default.
• W3125272105 hasConcept C2780421641 @default.
• W3125272105 hasConcept C41895202 @default.
• W3125272105 hasConcept C510755694 @default.
• W3125272105 hasConcept C73283319 @default.
• W3125272105 hasConceptScore W3125272105C10138342 @default.
• W3125272105 hasConceptScore W3125272105C105639569 @default.
• W3125272105 hasConceptScore W3125272105C138885662 @default.
• W3125272105 hasConceptScore W3125272105C139043278 @default.
• W3125272105 hasConceptScore W3125272105C139719470 @default.
• W3125272105 hasConceptScore W3125272105C144133560 @default.
• W3125272105 hasConceptScore W3125272105C144587487 @default.
• W3125272105 hasConceptScore W3125272105C162324750 @default.
• W3125272105 hasConceptScore W3125272105C2776014549 @default.
• W3125272105 hasConceptScore W3125272105C2777731549 @default.
• W3125272105 hasConceptScore W3125272105C2778137410 @default.
• W3125272105 hasConceptScore W3125272105C2778300220 @default.
• W3125272105 hasConceptScore W3125272105C2779601481 @default.
• W3125272105 hasConceptScore W3125272105C2780421641 @default.
• W3125272105 hasConceptScore W3125272105C41895202 @default.
• W3125272105 hasConceptScore W3125272105C510755694 @default.
• W3125272105 hasConceptScore W3125272105C73283319 @default.
• W3125272105 hasIssue "1" @default.
• W3125272105 hasLocation W31252721051 @default.
• W3125272105 hasOpenAccess W3125272105 @default.
• W3125272105 hasPrimaryLocation W31252721051 @default.
• W3125272105 hasRelatedWork W1547039990 @default.
• W3125272105 hasRelatedWork W1934343830 @default.
• W3125272105 hasRelatedWork W201711430 @default.
• W3125272105 hasRelatedWork W214366095 @default.
• W3125272105 hasRelatedWork W2299583698 @default.
• W3125272105 hasRelatedWork W236312343 @default.
• W3125272105 hasRelatedWork W2460982493 @default.
• W3125272105 hasRelatedWork W2521992572 @default.
• W3125272105 hasRelatedWork W2529032514 @default.
• W3125272105 hasRelatedWork W2560999826 @default.
• W3125272105 hasRelatedWork W2586236706 @default.
• W3125272105 hasRelatedWork W2735766586 @default.
• W3125272105 hasRelatedWork W3122709664 @default.
• W3125272105 hasRelatedWork W3122713305 @default.
• W3125272105 hasRelatedWork W3123575084 @default.
• W3125272105 hasRelatedWork W3124310955 @default.
• W3125272105 hasRelatedWork W3124422067 @default.
• W3125272105 hasRelatedWork W3125104090 @default.
• W3125272105 hasRelatedWork W3210824299 @default.
• W3125272105 hasRelatedWork W3122805708 @default.
• W3125272105 hasVolume "2015" @default.
• W3125272105 isParatext "false" @default.
• W3125272105 isRetracted "false" @default.
• W3125272105 magId "3125272105" @default.
• W3125272105 workType "article" @default.