In December the House passed a financial regulatory reform bill that would preserve its supervisory authority.
Not a single witness before the committee Monday advocated stripping the Fed of its supervisory authority.
It can be in a landlocked nation, and the Swiss Financial Market Supervisory Authority will attest to this.
Britain's financial supervisory authority changed the rules concerning indirect cash-settled options stakes earlier this month, requiring disclosure on a par with direct stakes.
Though the Fed would lose long-cherished supervisory authority over big banks such as Citigroup and JPMorgan Chase, its overall power would be greatly expanded.
Sweden's Financial Supervisory Authority (FSA) did not impose a penalty against Borse Dubai, even though it entered into options agreements with shareholders to buy 23.5% of OMX.
"It does not seem to matter much, if at all" where the supervisory authority lies, said Carnegie Mellon professor and Fed historian Allan Meltzer in his prepared testimony.
"You can't expect them to do anything different, " Geithner said, in response to criticism that the Federal Reserve, the Federal Deposit Insurance Corp. and other bank regulators are concerned about losing their current supervisory authority.
Where a bank is unable to pay its deposits, the relevant decision is adopted by the Central Bank of Cyprus or, where a member bank is incorporated in a country outside the Republic of Cyprus, by the competent supervisory authority of the country of incorporation.
This week, the Bank of Italy released a statement in Italian saying that the "true nature of certain transactions regarding the Monte dei Paschi di Siena reported in the press has emerged only recently, following the discovery of documents kept hidden to the supervisory authority and brought to light by the new management of MPS".
Shockingly, state officials do not inspect eggs in Iowa, and federal authority is fractured among several supervisory agencies.
George Osborne , Britain's chancellor of the exchequer, outlined plans to overhaul Britain's financial regulatory structure, including giving the Bank of England supervisory responsibilities for banks and jettisoning the Financial Services Authority.
Brian Napier QC, for the health authority, argued that having responsibility of a managerial, supervisory or support nature did not of itself trigger the right to conscientious objection.
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