【文章內(nèi)容簡介】 poration, or “Penny Benny” (a federal agency) ? 2020 by The McGrawHill Companies, Inc. All rights reserved. McGraw Hill / Irwin 18 23 The Regulation of Finance Companies ? The bulk of regulation of finance panies is at the state level and focuses principally upon the making of consumer loans. ? 2020 by The McGrawHill Companies, Inc. All rights reserved. McGraw Hill / Irwin 18 24 The Regulation of Investment Companies ? Investment panies or mutual funds are regulated predominantly by the federal government in the . ? Securities and Exchange Commission ? Investment Company and Investment Advisers Acts (1940) ? 2020 by The McGrawHill Companies, Inc. All rights reserved. McGraw Hill / Irwin 18 25 Trends in The Regulation of Financial Institutions ? Regulation seeks to promote the safety and stability of financial institutions in order to preserve the confidence of the public and avoid institutional failures. ? However, regulation can bee a costly burden that significantly increases the operating costs of financial institutions and limits the cleansing effects of failure and petition. ? 2020 by The McGrawHill Companies, Inc. All rights reserved. McGraw Hill / Irwin 18 26 Trends in The Regulation of Financial Institutions ? Increasingly, ? market discipline is playing a bigger role, ? regulators are cooperating more (because the distinctions between the financial institutions are blurring), ? the focus of regulation is moving away from control over the services offered and geographic expansion to controlling risk taking, and ? there is increasing attention to public disclosure. ? 2020 by The McGrawHill Companies, Inc. All rights reserved. McGraw Hill / Irwin 18 27 Money and Capital Markets in Cyberspace ? The government missions and agencies that regulate financial institutions have bee increasingly visible on the world wide web: ? ? ? ? ? ? ? ? ? 2020 by The McGrawHill Companies, Inc. All rights reserved. McGraw Hill / Irwin 18 28 Chapter Review ? The Reasons Behind the Regulation of Financial Institutions ? Do Regulations Benefit or Harm Financial Institutions? ? The Regulation of Commercial Banks ? The Federal Reserve System ? The Comptroller of the Currency ? Federal Deposit Insurance Corporation ? State Banking Commissions ? 2020 by The McGrawHill Companies, Inc. All rights reserved. McGraw Hill / Irwin 18 29 Chapter Review ? The Regulation of Commercial Banks … continued ? Regulations Controlling the Geographic Expansion of Banks ? Regulation of the Services Banks Can Offer ? The Rise of Disclosure Laws in Banking ? The Growing Importance of Capital Regulation in Banking ? The Unfinished Agenda for Banking Regulation ? 2020 by The McGrawHill Companies, Inc. All rights reserved. McGraw Hill / Irwin 18 30 Chapter Review ? The Regulation of Nonbank Thrift Institutions ? Credit Unions ? Savings and Loan Associations ? Savings Banks ? Money Market Funds ? The Regulation of Insurance Companies ? The Regulation of Pension Funds ? The Regulation of Finance Companies ? 2020 by The McGrawHill Companies, Inc. All rights reserved. McGraw Hill / Irwin 18 31 Chapter Review ? The Regulation of Investment Companies ? An Overview of Trends in the Regulation of Financial Institutions ? 2020 by The McGrawHill Companies, Inc. All rights reserved. McGraw Hill / Irwin 18 32 Money and Capital Markets 19 C h a p t e r Eighth Edition Financial Institutions and Instruments in a Global Marketplace Peter S. Rose Slide by YeeTien (Ted) FuThe Treasury In The Financial Markets ? 2020 by The McGrawHill Companies, Inc. All rights reserved. McGraw Hill / Irwin 18 33 ? Learning Objectives ? ? To examine the many important roles played by the government’s Treasury Department. ? To identify how the government raises new funds and how it spends the funds raised. ? To understand how the activities of the Treasury Department impact the money and capital markets and the economy. ? To explore two key government policy tools – fiscal policy and debt management. ? 2020 by The McGrawHill Companies, Inc. All rights reserved. McGraw Hill / Irwin 18 34 Introduction ? The . Treasury Department exerts a potent impact on the financial system through its ? fiscal policy – the taxing and spending programs of the federal government designed to promote various economic goals, and ? debt management policy – the refunding or refinancing of the federal government’s debt in a way that contributes to its economic goals and minimizes the debt burden. ?