to be larger at banks more constrained ex ante by the leverage limit. Despite increased asset risk, overall bank risk … suggest that the recent recalibration will curb those incentives without necessarily increasing bank risk. …

This paper builds a model of a regulation game, in which the active regulator moves first and designs the regulation … strategically and diversify their portfolios within the network in response to the regulation. Multiple equilibrium network … structures are fully characterized and ranked with the possibility of independent negative shocks to each bank. We show that the …

Bank deregulation in the form of the repeal of the Glass-Steagall Act facilitated the entry of non-bank lenders into … conventional view that regulatory arbitrage caused the rise of non-bank lenders …

risk in the U.S. banking sector. We estimate the sensitivity of weekly bank trading net profits to a variety of aggregate … stress-test calibration indicates that the Volcker Rule was an effective financial-stability regulation, as even a 5% drop in …

management, and governance — in other words, on internal bank processes. Drawing on the rules versus standards debate, this … the last thirty years. It shows how today's focus on internal bank processes, a policy called risk focused supervision …

to a functional convergence between insurance and the broader financial sector.The law literature on financial regulation … accompany all financial regulation. One problem concerns jurisdictional boundaries: to what degree does market integration …. Second, frequent calls for more “functional regulation” fail to appreciate the subtle advantages of retaining formalistic …