Kathryn Judge

Aug 2, 2024 | yalejreg.com | Kathryn Judge

The Federal Home Loan Bank system is a $1.3 trillion government-sponsored enterprise that operates primarily for the benefit of member financial institutions. Federal Home Loan Bank members enjoy generous dividends and ready access to fresh liquidity. The biggest beneficiaries are the biggest users of the system, including the largest banks and insurance companies in the country and banks facing financial distress.

Jul 15, 2024 | brookings.edu | Kathryn Judge

Thank you for raising these important questions about the mission of the Federal Home Loan Bank (FHLBank) system. Updating the Core Mission Activities (CMA) regulation for the FHLBank system is a critical step in the efforts to redirect the system to again serve primarily public aims.

Apr 1, 2024 | yalelawjournal.org | Kathryn Judge |Saule Omarova |Graham Steele

Banking law shapes the structure of the banking system, which in turn shapes the structure of the economy. One of the most significant ways that banking law in the United States traditionally sought to promote Brandeisian values of stability and decentralization was through a combination of carrots and sticks that enabled small banks across the country to thrive.

Jan 25, 2024 | yalelawjournal.org | Graham Steele |Kathryn Judge |Saule Omarova

. Money is power. Banks have the extraordinary power to create the nation’s money and credit, which they are entrusted to channel into productive economic uses. Like most other forms of economic power, this publicly granted privilege can be abused for private gain. That is why the “money monopoly” and “money trusts” were once considered one of the most dangerous forms of concentrated private wealth, an existential threat to economic freedom and American democracy.

Oct 16, 2023 | piie.com | Nicolas Véron |Dominique Laboureix |Kathryn Judge

The European Union intended to bring an end to taxpayer-funded bank rescues when it adopted the Bank Recovery and Resolution Directive in 2014 and established the Single Resolution Board (SRB) as the central resolution authority in the euro area. Cases since then, however, suggest this endeavor has achieved at best partial success. Meanwhile, the US bank resolution framework, long viewed as the reference for global best practice, met unexpected challenges in March 2023. This session takes stock.