supervisors to the same bank at exogenously fixed time intervals. Comparing federal and state regulator supervisory ratings within … the same bank, we find that federal regulators are systematically tougher, downgrading supervisory ratings almost twice as … consequences and likely proxies for delayed corrective actions—more lenient states have higher bank-failure rates, lower repayment …

characteristics of Reserve Bank boards of directors and exploit three unusual features of the U.S. financial regulatory system. First … economic conditions — but different Federal Reserve Bank supervisors. Second, that Federal Reserve Banks evaluate some … Bank governance enables analysis of the extent to which director diversity is correlated with community lending before and …

their governance is a matter of public concern. Finally, bank failures result in high negative externalities, and this also … creates a strong public interest in bank safety and soundness.This Article argues that a new federal governance regime for …