Dodd-Frank Act Flashcards
Law signed by
Obama signed on July 21 2010
Titles
16 titles on this act
Title I
Financial Stability
Title II
Orderly Liquidation Authority
Title III
Transfer of Powers to the Comptrollers of the currency, the corporation, and the Board of Governors
Title IV
Regulation of Advisors to Hedge Funds and Others
Title V
Insurance
Title VI
Improvements to Regulation of Bank and Savings Association Holding Companies and Depository Instituitons
Title VII
Wall Street Transperancy and Accountability Act
Title VIII
Payment, Clearing, and Settlement Supervision
Title IX
Investor Protections and Improvements to the Regulation of Securities
Title X
Bureau of Consumer Financial Protection
Title XI
Federal Reserve System Provisions
Title XII
Improving Access to Mainstream Financial Institutions
Title XIII
Pay It Back Act
Title XIV
Mortgage Reform and Anti-Predatory Lending Act
Title XV
Miscellaneous Provisions
Title XVI
Section 1256 Contracts
Three New Offices
- Financial Stability Oversight Council (FSOC), 2. Office of Financial Research (OFR), 3. Consumer Financial Protection Bureau (CFPB)
Transer of Power under Title III
Under Title III the power of Office of Thrift Supervision (OTS) has been transferred to Office of the Comptroller of the Currency (OCC), Federal Deposit Insurance Corporation (FDIC), Board of Governors of the Federal Reserve System.
MSRB, GAO
MSRB - Municipal Securities Rulemaking Board, GAO - Government Accountability Office
Volcker Rule
Prohibits banking entities from engaging in proprietary trading and ownership or sponsorship of hedge funds or private equiy funds
Skin in the Game
The securitizers and originators of asset backed securities must jointly retain at least 5% of the credit risk. It is intended to ensure that originators and securitizers have exposure to the asset backed securities that they help form
