The future of systemic risk supervision
It is still hard to predict the future of macro-prudential supervision in practice
Nobody quite knows the way forward on the detail of macro-prudential supervision. The US Senate is grappling with how to create a systemic risk supervisor and trying to pick a tune out of a disharmonious chorus of opinion from politicians, industry representatives and the patchwork of America's many regulators. There are no precedents for how a new body should be composed, or what its relationships and powers will be with regard to those big firms deemed 'too interconnected to fail', the
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