This Article examines executive branch powers to “override” the decisions of an independent central bank. It focuses in particular on the power and authority of a nation's executive branch to direct its central bank, thereby circumscribing canonical central bank independence. To investigate...

Financial institutions are increasingly subject to cyber incidents and attacks. Cyber intrusions threaten these institutions' balance-sheets and reputations, and can undermine their resilience. From a societal perspective, cyber risk is particularly concerning as it regards systemically...

This Article examines a relatively recent addition to the institutional architecture of financial regulation in the United States: the Financial Stability Oversight Council (FSOC). In particular, it draws attention to a flaw in the design of the Council's power to designate nonbank financial...

Financial misconduct and systemic risk are two critical issues in financial regulation today. However, for the past several years, financial misconduct and systemic risk have received markedly different treatment. After the global financial crisis, regulators responded to the traditional...

Investment funds increasingly substitute for banks in supplying credit to the real economy. Regulators have paid considerable attention to the potential financial stability risks of this migration to nonbank credit. This Article, however, argues that certain private investment funds (and the...

Central banks are increasingly called upon to address climate change. Proposals for central bank action on climate change range from programs of “green” quantitative easing, to increases in risk-based capital requirements to deter banks from lending to climate-unfriendly business....

Today, the Federal Reserve is at a critical juncture in its evolution. Unlike any prior period in U.S. history, the Fed now faces increasing demands to expand its policy objectives to tackle a wide range of social and political problems—including climate change, income and racial inequality,...

In this Article, I consider the problem of economic cyber espionage that targets the intellectual property of global corporations. The core claim of the article is that the TRIPS agreement, which is the World Trade Organization agreement dealing with intellectual property, should be interpreted...

Since its founding in 1913, the central bank of the United States has enjoyed a reputation as an erudite institution. Rigorous, well-resourced, and expansive research has become a hallmark of the Federal Reserve System. Indeed, research is itself a core function of the Fed: it both underpins Fed...

Despite the growth of international adjudication in the past few decades, ethical standards for counsel appearing before public international courts and tribunals remain underdeveloped. Today, counsel has scant guidance—as a matter of international norms or law—as to what behavior is...