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Perspectives on Dodd-Frank and Finance$
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Paul H. Schultz

Print publication date: 2014

Print ISBN-13: 9780262028035

Published to MIT Press Scholarship Online: May 2015

DOI: 10.7551/mitpress/9780262028035.001.0001

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Panel Discussion on Banking Reform

Panel Discussion on Banking Reform

(p.55) 5 Panel Discussion on Banking Reform
Perspectives on Dodd-Frank and Finance

Anil K Kashyap

James Overdahl

Anjan Thakor

John Walsh

The MIT Press

In this chapter, panellists discuss the messy legislative process that produced Dodd-Frank (James Overdahl compares it to a barroom brawl) and how it, along with Basel III and reinvigorated enforcement of existing laws, has affected banks. Professor Anil Kashyap characterizes the financial crisis as a series of runs on institutions involved in maturity transformation. He believes that Dodd-Frank does little to address this problem. Professor Anjan Thakor suggests that Special Capital Accounts could be used to insure that banks have sufficient capital without diminishing incentives for creditors to monitor them. John Walsh, former acting Comptroller of the Currency, argues that while parts of Dodd-Frank strengthen the banking sector, others make it difficult for banks to earn a suitable return on their capital.

Keywords:   Basel III, Capital Requirements, Leverage, Special Capital Account, Runs, FSOC

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