This paper was part of the conference "Beyond Pillar 3 in International Banking Regulation: Disclosure and Market Discipline of Financial Firms," cosponsored by the Federal Reserve Bank of New York and the Jerome A. Chazen Institute of International Business at Columbia Business School, October...

This article identifies underresearched and/or underappreciated issues that affect bank safety and soundness or financial system stability. The author begins by discussing the goals of safety and soundness supervision and then focuses on seven imperfectly understood, and often intertwined,...