An Exploration of Effectiveness in the Regulation of Federal Depository Institutions, 1989-2008

Chapter 1: Introduction
Statement of the Problem
Figure 1.1: Total Assets Under Supervision, 1998 through 2008
Figure 1.2: Mentions in the Congressional Committee Reports by Agency, 1995 through 2008
Research Question
Regulatory Effectiveness
Figure 1.3: Failure Rates Expressed as Percentage of Regulated Institutions by Agency, 1998 through 2008
Understanding Bank Failure: The Case of Superior Bank
Agency Relationships with their Regulated Communities
Figure 1.4 Ideal Regulatory Agency Policymaking
Understanding Self-funding and Charter Competition
Overview of Study

Chapter 2: The Challenge of Distilling and Examining a Theory of Regulatory Effectiveness
Table 2.1: Selected Scholarship on Regulatory Effectiveness
Working Model of Regulatory Effectiveness
Figure 2.1: Working Model of Regulatory Effectiveness
Regulatory Effectiveness
Propositions
Study Design
Table 2.2: Agency Comparison
The Agencies
National Credit Union Administration
Office of Thrift Supervision
Office of the Comptroller of the Currency
Other Regulators
Operationalizations, Data, and Data Analysis
Table 2.3: Empirical Examination: Concepts, Variables, and Data Sources

Chapter 3: The Impact of Agency Longevity on Financial Services Regulatory Effectiveness
Table 3.1: Relationships Between Longevity and Financial Resources by Agency
Overview of the Statistical Models
Agency Longevity and Failures
Table 3.2: Impact of Agency Age on Failures of Regulated Institutions
Conclusion

Chapter 4: The Impact of Ability to Manage Political Complexity, Front-line Employees,
and Political Appointee Turnover on Regulatory Effectiveness
Congressional Attention and Front-line Staff
Table 4.1: Impact of Congressional Attention and Percentage of Examiners on the Failures of Regulatory Institutions
Congressional Attention
Figure 4.1: Congressional Testimony by Agency, 1999 through 2008
Table 4.2: Relationships Between Congressional Attention and Effectiveness
Front-line Staff
Figure 4.2: Percentages of Examiners by Agency, 1998 through 2008
Table 4.3: Ratios of Examiners per Regulated Institutions by Agency, 1998 to 2008
A Narrative Analysis of Political Appointee Turnover
Table 4.4: NCUA Political Appointees, 1989 through 2008
Table 4.5: OTS Political Appointees, 1989 through 2008
Table 4.6: OCC Political Appointees, 1989 through 2008
Figure 4.3: Number of Changes in Political Appointees by Agency, 1989 through 2008
Table 4.7: Relationships between Political Turnover and Effectiveness by Agency
Conclusion

Chapter 5: Impact of Mission Stability, Regulatory Style, and Financial Resources on Regulatory Effectiveness
Mission Stability
NCUA
OTS
Figure 5.1: Mentions in the Congressional Record by Agency, 1989 through 2008
OCC
Figure 5.2: Number of Changes in Mission by Agency, 1989 through 2008
Table 5.1: Mission Changes and Regulatory Effectiveness
Regulatory Style
Non-legal Interventions
Legal Interventions
Figure 5.3: Annual Legal Intervention Percentage by Agency, 1998 through 2008
Figure 5.4: Enforcement Rates as Percentages of Regulated Institutions by Agency, 1998 through 2008
Resources
Figure 5.5: Budgets by Agency, 1995 through 2008 (in $2011)
Figure 5.6: OCC, OTS, and NCUA Budget per Institution Regulated (in $2011)
Table 5.2: Relationships Between Resources and Effectiveness
Table 5.3: Impact of Mission Stability, Regulatory Style and Resources on Regulated Institutions
General Discussion of Findings
Conclusion


Chapter 6: Conclusions
Summary of Key Findings
Figure 6.1 Revised Working Model of Regulatory Effectiveness
Normative Reflections
Figure 6.2: Regulatory Agency Policymaking
Future Research
Conclusions

References