This paper sets forth a discussion framework for the information requirements of systemic financial regulation. It …

Regulation consists of rulemaking and enforcement. Economic theory offers two complementary rationales for regulating … arise in multi- party relationships and that regulation introduces opportunities to impose rules that enhance the welfare of … discretion and choose actions for the common good. Agency-cost theories portray regulation as a way to raise the quality of …

Although nation-based systems of financial regulation constitute a second-best approach to global welfare maximization …

assets to survive runs. Regulation similar to the liquidity coverage ratio and the net stable funding ratio (that are soon be … implemented) can change the bank's incentives so that runs are less likely. Optimal regulation would not mimic these rules …

as they attempt to reform their frameworks for financial regulation. These economies are striving to balance the quest … objectives can in fact reinforce one another. I also discuss aspects of macroeconomic policies and cross-border regulation that …