This chapter examines the governance responsibilities of directors of financial institutions in the United States and worldwide. Part A of the chapter first reviews, as background, the duties generally applicable to directors of firms, including financial institutions. Part B then compares the...

The coronavirus has produced a public health debacle of the first-order. But the virus is also propagating the kind of exogenous shock that can precipitate – and to a considerable degree is already precipitating – a systemic event for our financial system. This currently unfolding systemic...

This chapter provides a basic overview of banking and financial regulation for the forthcoming Oxford Handbook of Law and Economics (Francesco Parisi, ed.). Among other things, the chapter compares traditional and shadow banking and their regulation, differentiating “microprudential”...

"In late 2008, the world's financial system was teetering on the brink of systemic collapse. While the impacts of the global financial crisis would be felt immediately, at every level of the economy, it would also send years-long aftershocks through investment, banking and regulatory circles...

Although secured transactions traditionally are regulated to protect transacting parties and to make the transactions themselves more efficient, the financial crisis has revealed that regulation should also protect the stability of the financial system. This raises numerous future challenges....