Today Yesterday was the big day to get the details of the Obama administration's financial regulatory reform proposal.
The actual Report is uploaded to EP and available here.
Some tidbits I noticed:
We propose to enhance the Federal Reserve’s authority over market infrastructure to reduce the potential for contagion among financial firms and markets. (p. 7, 2nd para)
New agency, modeled on, but not FDIC, for non-financial institutions and holding companies.(p. 8, para. 7)
New Financial Oversight Council reports to the Federal Reserve (p. 9, I.a.1)
Repeal of just reporting of Gramm-Leach-Bliley Act (?) (p. 11, para 1)
YAA(yet another agency) National Bank Supervisor created
Consolidated Institution Regulation moved to....Federal Reserve
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