[Dodd Frank Wall Street Reform Act]

By



Acknowledgements

My thanks go out to all who have helped me complete this study and with whom this project may have not been possible. In particular, my gratitude goes out to friends, facilitator and family for extensive and helpful comments on early drafts. I am also deeply indebted to the authors who have shared my interest and preceded me. Their works provided me with a host of information to learn from and build upon, also served as examples to emulate.

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Executive Summary

The enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act represents a turning point in the regulation of the OTC derivatives markets. By subjecting OTC derivatives and the global markets in which they are traded to a variety of new requirements, the Act represents the first major attempt to regulate one of the most important components of the international financial system. The rules that regulatory agencies must implement in order to effectuate the intent of the Act, however, will inevitably have consequences on the market's future development and utility that reach far beyond the United States. This article examines has the dodd frank wall street reform act fully adressed the to big to fail problem of the us banking institution?

Table of Contents

Declaration3

Executive Summary4

Introduction6

Literature Overview7

Methodology13

Results16

Conclusion17

References19

Dodd-Frank Wall Street Reform and Consumer Protection Act

Introduction

The dodd-frank wall street reform and consumer Protection Act, as it is formally known, is the most sweeping piece of financial legislation enacted in the U.S. since The Great Depression of the 1930s. It was created to enhance the stability of the U.S. financial system and address many of the things that led to its near collapse in late 2008. The stated purpose of the act is to "promote the financial stability of the United States by improving accountability and transparency in the financial system, to end too big to fail, to protect consumers from abusive financial services practices and for other purposes." The Act was first proposed in December 2009 and was signed into law by the President on July 21, 2010.

The financial crisis that began in 2008 was largely a product of outdated regulation and supervision combined with credit innovation and technology that were advancing faster than regulatory and risk management controls. One gaping hole in the prior regulatory system was that no one had clear responsibility for monitoring the financial system as a whole. While financial innovation was hailed as a positive, the mismatch between that and risk management was an unintended consequence that led to near disastrous results.

While protecting consumers through new agencies, proposed efficiencies, enhanced enforcement, greater transparency and more are lofty goals, legislation as far reaching as Dodd-Frank will ...