Supervising Large, Complex Financial Institutions: Defining Objectives and Measuring Effectiveness

Beverly Hirtle and David Lucca

No 20160411, Liberty Street Economics from Federal Reserve Bank of New York

Abstract: Last month the New York Fed held a conference on supervising large, complex financial institutions. The event featured presentations of empirical and theoretical research by economists here, commentary by academic researchers, and panel discussions with policymakers and senior supervisors. The conference was motivated by the recognition that supervision is distinct from regulation, but that the difference between them is often not well understood. The discussion focused on defining objectives for supervising the large, complex financial companies that figure so prominently in our financial system and ways of measuring how effectively supervision achieves these goals. This post summarizes the key themes from the conference and introduces the more in-depth posts that will follow in this blog series.

Keywords: Bank supervision; bank regulation (search for similar items in EconPapers)
JEL-codes: G2 (search for similar items in EconPapers)
Date: 2016-04-11
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