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 …

could be combined with provisions for measuring, verifying, and rewarding multiperiod performance to make top regulators …-insurance enterprises are purveyors of credit enhancements for which private substitute and reinsurance markets exist, their performance … with this kind of accountability reform …

-of-second-to-last-resort". Using daily supervisory bank balance sheet information, we find that U.S. GSIBs modestly increase their dollar liquidity … broker-dealer subsidiaries within the same bank holding company are crucial to this type of "reserve-draining" intermediation …

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 …

bank supervision and eventually produce banking crisis. For political reasons, most countries establish a regulatory … culture that embraces three economically contradictory elements: politically directed subsidies to selected bank borrowers …

issuance of common stock was negative due to repurchases. We assume that, in the absence of capital requirements, a bank has an … optimal capital structure that depends on its business model. Capital requirements can impose constraints on bank decisions …. If a bank's optimal capital structure also meets regulatory capital requirements with a sufficient buffer, the bank is …

implemented) can change the bank's incentives so that runs are less likely. Optimal regulation would not mimic these rules …We study a modification of the Diamond and Dybvig (1983) model in which the bank may hold a liquid asset, some … depositors see sunspots that could lead them to run, and all depositors have incomplete information about the bank's ability to …