Financial Regulatory Reform: Systemic Risk and the Federal Reserve
by Marc Labonte
CRS, May 26, 2010 [R40877] (28 pgs)
--This report defines the potential duties and responsibilities of a systemic risk regulator, relating those duties to events that potentially contributed to the recent crisis. It then identifies the powers that would need to be given to a regulator to perform those duties, and compares those powers and responsibilities to the Fed's existing powers and responsibilities. It discusses advantages and disadvantages of giving those responsibilities to the Fed or the executive branch.