The old rules were designed to protect banks from being overly influenced by non-bank companies.
Non-bank investors include Google and utilities that use their own money to finance leases.
Other households have access to a bank account, but nevertheless rely on non-bank financial services providers.
FORBES: Walmart Targets Unhappy Bank Customers With New Prepaid Card--Should Big Banks Be Nervous?
Then banks tighten credit, non-bank lenders cannot get funds to re-lend, and Main Street businesses suffer.
She also got her wish for resolution authority over important non-bank companies on the brink of failure.
FORBES: Sheila Bair: Now the Real Work on Financial Reg Reform Begins
Moreover, a lot of those non-bank profits are coming from companies with strong presence in the emerging markets.
It is the first time since the 1960s the Fed has opened its borrowing window to a non-bank.
With this new merger, these and other non-bank firms are now in the same corporate group with Citicorp.
And, as governments focus their efforts on bailing out the banks, non-bank sources of financing are becoming more fragile.
ECONOMIST: Meltdown may have been averted. But the crunch is not over
This non-bank sector has been the source of some of the most harmful, deceptive, unfair and predatory lending practices.
It also shows that several of these centres have yet to extend their anti-laundering regimes to cover non-bank financial institutions.
Like most non-bank finance that rate is, as Channel Advisor observed, expensive, but it is also comes with a four-day turnaround.
But soon, the Consumer Financial Protection Bureau (CFPB) will take over those duties, per its authorization to regulate non-bank financial companies.
In addition, households that use non-bank financial services providers do not receive the full range of consumer protections available through the banking system.
FORBES: Walmart Targets Unhappy Bank Customers With New Prepaid Card--Should Big Banks Be Nervous?
Not the non-financial -- or rather non-bank financial institutions, the oversight of which is being held up because of the Senate Republican filibuster.
The non-bank participants in the global financial system are just as important, since the chain is only as strong as its weakest link.
In a press release today the regulator detailed capital and liquidity requirements of large bank holding companies and systemically important non-bank financial firms.
That includes a contribution from what is known as shadow banking, lending by non-bank institutions or bank credit that is kept off the books.
The new regulator is likely to be the toughest in Washington and non-bank financials look to be a big focus for the CFPB.
FORBES: How to Invest in the Death of Banking: Street Whispers
It left responsible community banks to compete with non-banks and other non-bank institutions in an unlevel playing field, often irresponsible and often unregulated competitors.
APACs, which co-ordinates payments systems, was preparing to admit its first non-bank member on March 23rd (even if it is merely the government-owned post office).
Reviving important non-bank funding sources, such as securitisation, is essential, even if its huge expansion in the credit boom led to the mispricing of risk.
There are only three non-bank E-money institutions authorized under the Financial Services (Banking) Act for issuing means of payment in the form of electronic money.
Last month saw another surge of non-bank lending, according to Jing.
FORBES: No Guarantees For China's Shadow Banks, Warns JPMorgan Economist
Things may get stickier for firms that rely on non-bank finance, but even there the need to put assets to work may overcome foreign contagion.
MUMBAI India's central bank late Monday said it is extending its restrictions on banks and non-bank financial companies providing loans to customers using gold bullion as security.
Countrywide is not a bank, but the Fed does have the authority to open that window to non-bank institutions, something that hasn't happened since the 1930s.
In due course, the Soviets would be able to tap into large numbers of new non-bank lenders such as: securities firms, pension funds, insurance companies, corporations, and even individuals.
The people who lose are the American consumers who engage with those non-bank financial institutions all the time -- payday lenders, and mortgage service providers, student loan companies -- veterans.
He points to bank deregulation in 1999, which allowed non-bank financial companies (insurance firms, brokers and the like) big users of credit to own banks for the first time since the Depression.
应用推荐