Durable Financial Regulation: Monitoring Financial Instruments as a Counterpart to Regulating Financial Institutions

23 Pages Posted: 1 Jul 2010 Last revised: 25 Oct 2014

See all articles by Leonard I. Nakamura

Leonard I. Nakamura

Federal Reserve Banks - Federal Reserve Bank of Philadelphia

Multiple version iconThere are 3 versions of this paper

Date Written: June 23, 2010

Abstract

This paper sets forth a discussion framework for the information requirements of systemic financial regulation. It specifically proposes a large macro-micro database for the U.S. based on an extended version of the Flow of Funds. The author argues that such a database would have been of material value to U.S. regulators in ameliorating the recent financial crisis and will be of aid in understanding the potential vulnerabilities of an innovative financial system in the future. The author also argues that the data should – under strict confidentiality conditions – be made available to academic researchers investigating the detection and measurement of systemic risk.

Superseded by Working Paper 13-2.

Suggested Citation

Nakamura, Leonard I., Durable Financial Regulation: Monitoring Financial Instruments as a Counterpart to Regulating Financial Institutions (June 23, 2010). FRB of Philadelphia Working Paper No. 10-22, Available at SSRN: https://ssrn.com/abstract=1633085 or http://dx.doi.org/10.2139/ssrn.1633085

Leonard I. Nakamura (Contact Author)

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