On 3 December EY hosted a SUERF conference on banking reform with Sir Howard Davies, the Chairman of RBS, and Dame Colette Bowe, the Chairman of the Banking Standards Board, as the two keynote speakers. Professor David Miles (Imperial College) gave the SUERF 2015 Annual Lecture on Capital and...

Bankruptcy policy has long been founded upon the assumption that creditors seek to maximize the value of their assets. The radical changes that have swept over the banking sector over the last two decades, however, have rendered this assumption unreliable. Banks, which are responsible for the...

In this paper, we discuss our research on the effects of regulatory forbearance on the outcomes for high-risk and distressed property-casualty insurance companies. A fundamental question that has been examined in the extant literature is whether greater regulatory forbearance tends to increase...

In this paper, we empirically estimate the costs of delay in the FDIC's closures of 433 commercial banks between 2007 and 2014 based upon a counterfactual closure regime. We find that the costs of delay could have been as high as $18.5 billion, or 37% of the FDIC's estimated costs of closure of...