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Banking Regulation in the United States
Finance & Accounting
Pages 25 (6275 words)
Student’s name: Instructor’s name: Date: Course: Banking Regulation in the US Introduction All over the world, banks play a critical role in the economic development and growth of any country (Shanmuganathan, Merlin and Bryan 388). This is achieved by their contribution in the country’s credit and payment system.
There are three federal banking regulators in US which include; Federal Reserve System, Federal Deposit Insurance Corporation (FDIC) and Office of the Comptroller of Currency all having separate although overlying authority over commercial banks. Additionally, there exist various groups of depository institutions having similar functions to those of banks although they have unique category of regulatory institutions, laws and regulations (Shanmuganathan, Merlin and Bryan 389). Banking regulations can be classified into varying groups to reduce ambiguity and to link the regulation to the motives behind their introduction. According to Shanmuganathan, Merlin and Bryan (392), the regulations could either fall under economic regulations, information regulations and health-safety-environment (HSE) regulations. Economic regulations comprise restrictions and requirements introduced by the government to control profits, prices and conditions for entry and exit into the industry. In the banking industry, economic regulations include those limits on interest rates paid on deposits and those charged on credit. ...
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