This essay was published as part of a law review symposium that evaluated my work on theregulation of large, complex financial institutions. Part I of my essay discusses the other articlespublished in the symposium issue and describes their relationship to my own work. Part IIanalyzes the global...

The resolution planning process in the United States is still evolving. A resolution plan is a plan for liquidating, reorganizing, recapitalizing or otherwise resolving a systemically important financial institution (“SIFI”) that has reached the point of insolvency, non-viability or failure....

This paper describes how behavioral elements are relevant to financial supervision,regulation, and central banking. It focuses on (1) behavioral effects of norms (social, legal,and market); (2) behavior of others (internalization, identification, and compliance); and(3) psychological biases. It...

The government support of financial firms through direct assistance and programs to improve market liquidity during the worldwide financial crisis of 2007-2008 is unprecedented since the Great Depression. Whether a given firm is ex-ante ‘Too Big To Fail' in the mind of government agents is not...

Since his appointment in the summer of 2009, the new Governor of the Central Bank of Nigeria, Lamido Sanusi, has introduced a spate of reforms in response to the global financial crisis and the mismanagement of certain Nigerian banks. This article briefly reviews the history of Nigerian banking...

In the article, we describe the European Commission's (EC) recapitalisation proposals which were announced as part its road map to stability and growth on 12 October 2011. The EC is calling for ‘significantly' higher capital reserves to help banks replenish their balance sheets to withstand...