Achieving Financial Stability: Challenges to Prudential Regulation

Part I: Special Addresses
1. Challenges for Future Monetary Policy Frameworks: A European Perspective
2. Income Inequality: The Battlefield Casualty of Post-crisis Financial Policy
3. A Practical Case for Rules-based Macroprudential Policy

Part II: Financial Regulation: The Evolving Macro- and Microprudential Landscape
4. Evolving Micro- and Macroprudential Regulations in the United States: A Primer
5. The Regulatory Response to the Sovereign-Bank Nexus
6. Japan’s Regulatory Responses to Banking Crisis
7. The Costs and Benefits of Bank Capital Requirements

Part III: Capital Regulation
8. Capital Regulation: How Much Capital is Needed?
9. CoCos: A Promising Idea Poorly Executed
10. Capital Regulation: Lessons from a Macroeconomic Model

Part IV: Liquidity Regulation
11. How Should Bank Liquidity be Regulated?
12. How Do We Figure Out Optimal Liquidity Regulation?
13. The Interplay Between Liquidity Regulation, Monetary Policy Implementation and Financial Stability
14. Liquidity and Capital: Substitutes or Complements?

Part V: Market Infrastructures, Central Clearing and Collateral Management
15. An Incentive Theory of Counterparty Risk, Margins, and CCP Design
16. Monitoring CCP Exposure, in Real Time if Needed

Part VI: Regulation and Financial Innovation
17. Innovation & Regulation: Some Preliminary Observations
18. Financial Innovation and Regulation
19. Thoughts about Financial Innovation
20. How Technological Innovation Will Reshape Financial Regulation

Part VII: Bail-in Versus Bail-outs: Incentives and Financial Stability
21. Bail-in-able Debt and Fragility
22. Government Guarantees to Financial Institutions: Banks’ Incentives and Fiscal Sustainability
23. The Unconvertible CoCo Bonds

Part VIII: Where to from Here?
24. The Macroprudential Toolkit
25. The Great Financial Crisis and its Aftermath: A Perspective from Asia
26. Regulatory Reform: Where to from Here?