This in-depth analysis provides evidence on differences in the practice of supervising large banks in the UK and in the euro area. It identifies the diverging institutional architecture (partially supranationalised vs. national oversight) as a pivotal determinant for a higher effectiveness of...

chapter 1 Introduction -- chapter 2 About HBOS -- chapter 3 The Politics of Risk Management -- chapter 4 The Chemistry of Audit Failure -- chapter 5 Regulatory Failure -- chapter 6 Findings and Implications for Finance Teaching and Research.