The sweeping overhaul of the US’s financial regulatory system that was signed into law in July last, will touch virtually every aspect of American financial markets. The October issue of the “Chicago Fed Letter” focuses on the various provisions in the “Dodd–Frank Wall Street Reform and Consumer Protection Act” that affect “financial market utilities,” critical behind-the-scenes institutions and arrangements that will ensure the smooth functioning of financial markets. Anna L. Paulson, vice president and senior financial economist, and Kirstin E. Wells, lead technical expert both from theat the Chicago Fed have authored this informative article.
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