Post-Crisis Regulation of Foreign Banking Organizations in the USA

Occupation: Candidate of Sciences (Economics), Senior Research Fellow at the Center for North American Studies, IMEMO RAS
Affiliation: Primakov National Research Institute of World Economy and International Relations, Russian Academy of Sciences (IMEMO)
Address: Russian Federation, Moscow

Vasilisa Kulakova

Occupation: Candidate of Sciences (Political), Senior Research Fellow at the Center for North American Studies, IMEMO RAS
Affiliation: Primakov National Research Institute of World Economy and International Relations, Russian Academy of Sciences (IMEMO)
Address: Russian Federation, Moscow, 23, Profsoyuznaya st., Moscow, 117997, Russian Federation

Journal name

USA & Canada: ekonomika, politika, kultura

Edition

Issue 12

Pages

86-98

Abstract

The article examines regulation of foreign banking organizations on the U.S. territory after the 2008-2009 crisis. During B. Obama's presidency U.S. adopted a more stringent set of banking rules in its national jurisdiction, compared to international norms of Basel III. Under D. Trump financial regulators have set forth plans to normalize this imbalance. Moreover, the Economic Growth, Regulatory Relief, and Consumer Protection Act of 2018 had even further aggravated disparity having created a possible competitive disadvantage for foreign banks. The authors come to the conclusion that this pendulum is a mechanism of promoting American leadership in the global economy and finance.

Keywords

financial reform, banking regulation, Federal Reserve System, Dodd-Frank Act, Crapo Act, Basel III, foreign banking organizations, bank capital, liquidity, reserves

Received

09.12.2018

Publication date

28.12.2018

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GOST	Bogaevskaya O., Kulakova V. Post-Crisis Regulation of Foreign Banking Organizations in the USA // USA & Canada: ekonomika, politika, kultura – 2018. – Issue 12 C. 86-98 [Electronic resource]. URL: https://usacanada.jes.su/S032120680002704-8-1 (circulation date: 05.10.2024). DOI: 10.31857/S032120680002704-8
MLA	Bogaevskaya, Oksana, Kulakova, Vasilisa "Post-Crisis Regulation of Foreign Banking Organizations in the USA." USA & Canada: ekonomika, politika, kultura 12 (2018):86-98. DOI: 10.31857/S032120680002704-8
APA	Bogaevskaya O., Kulakova V. (2018). Post-Crisis Regulation of Foreign Banking Organizations in the USA. USA & Canada: ekonomika, politika, kultura (12), pp.86-98 DOI: 10.31857/S032120680002704-8

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1. Kirichenko E. ., otv. red., 2016. Sotsial’no-ekonomicheskoye razvitiye SShA: potentsial I vyzovy // SShA: vozmozhnosti i predely ekonomicheskogo i politicheskogo liderstva. / T. 1, Moskva, IMEMO RAN, 240 p. [Kirichenko E. V., editor, 2016. USA: Prospects and Limitations of Economic and Political Leadership, Vol., 1, Moscow, IMEMO RAS, 240 p.].

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