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Lecture Money and capital markets: Chapter 17 – Peter S. Rose, Milton H.Marquis

In this chapter, we need to understand how the central bank interacts with the financial system. What is it that central banks buy and sell? What are the assets and liabilities on their balance sheets? How do they control those assets and liabilities, and why might they want to hide them from the public?. | Chapter 17 Regulation Of The Financial Institutions’ Sector Learning Objectives To explore why financial institutions are one of the most regulated industries in the modern world. To discover the many types of regulation, and to understand how the financial institutions have been affected. To understand how regulation has influenced and shaped the structure of financial-services industries. Introduction Financial institutions are one of the most heavily regulated businesses in the world. Many economists, financial analysts, and financial institutions have argued that regulation has done more harm than good. Other observers, however, argue that government regulations have achieved some positive results for the financial institutions as well as for the public. The Reasons Behind the Regulation of Financial Institutions Concern for the safety of the public’s funds. To promote public confidence in the system. To ensure equal opportunities and fairness in the public’s access to . | Chapter 17 Regulation Of The Financial Institutions’ Sector Learning Objectives To explore why financial institutions are one of the most regulated industries in the modern world. To discover the many types of regulation, and to understand how the financial institutions have been affected. To understand how regulation has influenced and shaped the structure of financial-services industries. Introduction Financial institutions are one of the most heavily regulated businesses in the world. Many economists, financial analysts, and financial institutions have argued that regulation has done more harm than good. Other observers, however, argue that government regulations have achieved some positive results for the financial institutions as well as for the public. The Reasons Behind the Regulation of Financial Institutions Concern for the safety of the public’s funds. To promote public confidence in the system. To ensure equal opportunities and fairness in the public’s access to financial services. To prevent excessive money creation, and hence excessive inflation. To aid “disadvantaged” economic sectors. To ensure that important financial services are provided reliably and at a reasonable cost. Does Regulation Benefit or Harm Financial Institutions? Regulations subsidize the growth of financial institutions and protect them from competition. Regulations tend to increase public confidence. Regulations spawn innovative escapes (regulatory dialectics) through loopholes in the regulations. Regulations can benefit financial institutions. Does Regulation Benefit or Harm Financial Institutions? Regulatory dialectics are not the most productive form of innovation. The time and energy spent on regulatory compliance activities are costly. Regulations can harm financial institutions. The Regulation of Commercial Banks Due to their importance in the financial system, commercial banks are typically the most regulated of all financial institutions. Responsibility for regulating