{
  "id": "R40417",
  "type": "CRS Report",
  "typeId": "REPORTS",
  "number": "R40417",
  "active": false,
  "source": "EveryCRSReport.com",
  "versions": [
    {
      "source": "EveryCRSReport.com",
      "id": 357729,
      "date": "2010-04-07",
      "retrieved": "2016-04-07T01:46:23.613263",
      "title": "Macroprudential Oversight: Monitoring Systemic Risk in the Financial System",
      "summary": "Recent innovations in finance, while increasing the capacity to borrow and lend, resulted in a large volume of banking transactions occurring outside of traditional banking institutions. Also, even though existing regulators supervise individual banks for safety and soundness, there are risks that do not reside with those institutions but may still adversely affect the banking system as a whole. Macroprudential policy refers to a variety of tasks designed to defend the broad financial system against threats to its stability. Responsibilities include monitoring the system for systemic risk vulnerabilities; developing early warning systems of financial distress; conducting stress-testing exercises; and advising other regulatory agencies on matters related to financial stability. H.R. 4173, the Wall Street Reform and Consumer Protection Act of 2009 (Representative Barney Frank), establishes a Financial Services Oversight Council with macroprudential regulatory responsibilities. On March 22, 2010, the Senate Banking Committee ordered reported the Restoring American Financial Stability Act of 2010 (Senator Christopher Dodd), which also would establish a Financial Services Oversight Council with similar responsibilities.\nThis report provides background and discusses the potential benefits and limitations of macroprudential policy efforts. This report will be updated as events warrant.",
      "type": "CRS Report",
      "typeId": "REPORTS",
      "active": false,
      "formats": [
        {
          "format": "HTML",
          "encoding": "utf-8",
          "url": "http://www.crs.gov/Reports/R40417",
          "sha1": "97b75aba68d7a1dd36c2d34ed638667156ef8f0e",
          "filename": "files/20100407_R40417_97b75aba68d7a1dd36c2d34ed638667156ef8f0e.html",
          "images": null
        },
        {
          "format": "PDF",
          "encoding": null,
          "url": "http://www.crs.gov/Reports/pdf/R40417",
          "sha1": "26775e6cd79d1c074db0dbe47c077a6d8f72b6b9",
          "filename": "files/20100407_R40417_26775e6cd79d1c074db0dbe47c077a6d8f72b6b9.pdf",
          "images": null
        }
      ],
      "topics": []
    }
  ],
  "topics": [
    "Economic Policy",
    "Foreign Affairs",
    "Industry and Trade"
  ]
}