Resources for Federal Financial Institutions Examination Council (FFIEC)

Treasury Prepares to Lay Down a Marker for the Future

www.aei.org

his is the second of two Financial Services Outlooks on the Treasury Department's review of the regulatory structure for financial services. In a Federal Register notice in October, Treasury requested public comments on a number of questions relating to the regulation of financial services in general, followed by specific questions about the regulation of banks, securities firms, and insurance companies.[1] The October Outlook addressed regulation and regulatory structure in general; this issue addresses Treasury's specific questions about the regulation of banking, securities, and insurance. While it is unlikely that any of Treasury's recommendations will be adopted during the remainder of George W. Bush's term, it is clear that Treasury has a rare opportunity--shorn of the usual issues of political feasibility at a given moment in time--to advance ideas that will influence the direction of regulatory reform for many years to come. For that reason, all financial institutions--especially those with an interest in financial services regulatory policy--should provide Treasury with their considered views.

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