Class of 1965 Associate Professor of Financial Regulation at The Wharton School of the University of Pennsylvania and a Nonresident Fellow in Economics Studies at The Brookings Institution.
Jun 23, 2025
Compendium
A: Let me separate these questions into two: what does good bank regulation look like? And what does good bank supervision look like? My answers will be related but they represent two very different epistemologies of risk management that require separate analyses.
Good bank regulation represents politically-inflected experimentation in macroprudential risk management of various kinds. Each part of that descriptor is important, in my view.
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