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The Bank Secrecy Act of 1970 (BSA), also known as the Currency and Foreign Transactions Reporting Act, is a U.S. law requiring financial institutions in the United States to assist U.S. government agencies in detecting and preventing money laundering. [2] Specifically, the act requires financial institutions to keep records of cash purchases of ...
Banking regulation and supervision refers to a form of financial regulation which subjects banks to certain requirements, restrictions and guidelines, enforced by a financial regulatory authority generally referred to as banking supervisor, with semantic variations across jurisdictions. By and large, banking regulation and supervision aims at ...
In this list of financial regulatory and supervisory authorities, central banks are only listed where they act as direct supervisors of individual financial firms, and competition authorities and takeover panels are not listed unless they are set up exclusively for financial services.
In 2013 a new SIB regulation was formulated and adopted by the European Union, which outlined the responsibility for each EU member state and all of the three other EEA member states, to compose a list of all their domestic SIBs (with the term including not only ordinary banks – but also credit institutions and investment firms), and ...
The regulation of banking privacy is typically undertaken by a sector-by-sector basis. The most prominent federal law governing banking privacy in the U.S. is the Gramm-Leach-Bliley Act (GLB). [4] This regulates the disclosure, collection, and use of non-public information by banking institutions. [4]
Pages in category "Bank regulation in the United States". The following 27 pages are in this category, out of 27 total. This list may not reflect recent changes . Bank regulation in the United States.
Banking regulations vary widely between jurisdictions. Licensing and supervision. Bank regulation is a complex process and generally consists of two components: licensing, and; supervision. The first component, licensing, sets certain requirements for starting a new bank. Licensing provides the licence holders the right to own and to operate a ...
Financial regulation is a broad set of policies that apply to the financial sector in most jurisdictions, justified by two main features of finance: systemic risk, which implies that the failure of financial firms involves public interest considerations; and information asymmetry, which justifies curbs on freedom of contract in selected areas of financial services, particularly those that ...
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