"This essay shows that government credit-allocation schemes generate incentive conflicts that undermine the quality of bank supervision and eventually produce banking crisis. For political reasons, most countries establish a regulatory culture that embraces three economically contradictory...

This article discusses the use of colleges of regulators to supervise global banks. The article briefly discusses the past ineffective use of colleges of regulators and then analyzes the use of colleges of regulators under European Union law. The article concludes by reviewing the...