{
 "@context": "https://schema.org",
 "@type": "DefinedTerm",
 "@id": "https://wulfkaal.github.io/entities/federal-reserve",
 "identifier": "kaal:entity:federal-reserve",
 "name": "Federal reserve",
 "termCode": "federal-reserve",
 "inDefinedTermSet": {
  "@id": "https://wulfkaal.github.io/entities/index.json"
 },
 "author": {
  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0000-0003-0757-275X"
 },
 "dateModified": "2026-07-29",
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   "value": [
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  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2061166-039",
   "identifier": "kaal:claim:2061166-039",
   "text": "Given the European initiatives on contingent capital and the nascent European market in contingent capital securities, the Board of Governors of the United States Federal Reserve would be well advised to consider implementing contingent capital standards.",
   "abstract": "Given the European initiatives on contingent capital and the nascent market in European contingent capital securities, the Board of Governors of the United States Federal Reserve would be well advised to consider implementing contingent capital standards.",
   "citation": "Christoph K. Henkel, Wulf A. Kaal, Contingent Capital in European Union Bank Restructuring (2012). SSRN: https://ssrn.com/abstract=2061166",
   "datePublished": "2012",
   "claim_type": "normative",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
    "United States regulators acting under Dodd-Frank authority contingent on the mandated feasibility study"
   ],
   "source_pdf_sha256": "43625ea260d0fc045e86d3435df50c9d0ca4abf8542e6085a6165be6653b4a7b",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2470008-019",
   "identifier": "kaal:claim:2470008-019",
   "text": "SIFI designation changes the nature of regulation for a nonbank financial institution, subjecting it to substantial additional regulation and forcing it to change how it does business, which can in turn constrain its growth.",
   "abstract": "Designation as a systemically important financial institution (SIFI) would change the nature of the regulation for the respective nonbank financial institution and subject such entity to substantial additional regulations,149 requiring the respective entity to change the way it does business.",
   "citation": "Wulf A. Kaal, The Systemic Risk of Private Funds after the Dodd-Frank Act (2014). SSRN: https://ssrn.com/abstract=2470008",
   "datePublished": "2014",
   "claim_type": "mechanism",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
    "nonbank financial institutions designated as systemically important"
   ],
   "source_pdf_sha256": "5f68a401c935527d89658171e9b48a4d186710459aaf2bdbead755507394e8c9",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2748096-027",
   "identifier": "kaal:claim:2748096-027",
   "text": "The FSOC's powers over hedge funds and other nonbank financial institutions are broad and unprecedented in U.S. financial regulation, including the power to subject hedge funds to extensive Federal Reserve supervision and to designate a fund systemically important on its own initiative by a two-thirds vote.",
   "abstract": "The FSOC's powers over hedge funds and other nonbank financial institutions are broad and unprecedented in U.S. financial regulation. The FSOC has the power to subject hedge funds to extensive supervision by the Federal Reserve.",
   "citation": "Wulf A. Kaal, Timothy A. Krause, Hedge Funds and Systemic Risk (2016). SSRN: https://ssrn.com/abstract=2748096",
   "datePublished": "2016",
   "claim_type": "empirical",
   "confidence": "asserted",
   "is_failure_mode": false,
   "scope_conditions": [
    "post-Dodd-Frank U.S. regulatory structure"
   ],
   "source_pdf_sha256": "8f30260f2c1db728b45c4f3b9b7c64358cf9d3217277bc3c63a910c32f87b508",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2957645-014",
   "identifier": "kaal:claim:2957645-014",
   "text": "Section 165(b) of the Dodd-Frank Act already authorizes the Board of Governors of the Federal Reserve to utilize contingent capital, so the mechanism has a statutory foundation in United States law.",
   "abstract": "Section 165(b) of the Dodd-Frank Act authorizes the Board of Governors of the Federal Reserve to utilize contingent capital.28",
   "citation": "Kaal, Dynamic Regulation via Contingent Capital (2017). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2957645",
   "datePublished": "2017",
   "claim_type": "empirical",
   "confidence": "evidenced",
   "is_failure_mode": false,
   "scope_conditions": [
    "United States law after the Dodd-Frank Act"
   ],
   "source_pdf_sha256": "250b10782a5ea5dece9235a7f711aee408feaf36f2e78e310d589b5ee6304be2",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2957645-024",
   "identifier": "kaal:claim:2957645-024",
   "text": "Contingent capital could create a regime for providing countercyclical regulatory capital that further enhances the regulatory capital requirements of the Federal Reserve and those under Basel III.",
   "abstract": "Accordingly, contingent capital could create a regime for providing countercyclical regulatory capital51 that further enhances regulatory capital requirements of the Federal Reserve52 and under Basel III.53",
   "citation": "Kaal, Dynamic Regulation via Contingent Capital (2017). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2957645",
   "datePublished": "2017",
   "claim_type": "design",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
    "contingent capital is used alongside, not instead of, existing minimum capital requirements"
   ],
   "source_pdf_sha256": "250b10782a5ea5dece9235a7f711aee408feaf36f2e78e310d589b5ee6304be2",
   "status": "current"
  }
 ],
 "description": "5 claims in the published works of Wulf A. Kaal carry the concept tag 'federal-reserve'. Derived node: a roster, not an adjudicated definition."
}