Download As PDF This chapter addresses the issue of whether and to what extent banks should be required by regulation to hold capital against operational risks. It argues that the types of operational risk for which Basel II requires capital, internal or external...
Download As PDF This article provides a context for understanding recent events in Japan that we believe will be useful whatever the outcome of the upcoming election. We begin with a brief overview of the PSS, assess its cost to the Japanese economy, outline the...
Download As PDF Corporate governance is obviously a matter of global concern, since large public companies operate globally and have many worldwide investors. Yet, in many areas of regulation, rules of corporate governance are promulgated on a national, state, or...
Download As PDF This paper explores how market discipline works for financial institutions, a highly regulated industry, and sovereigns. It is organized into two parts: (1) an assessment of what market discipline (MD) is and how it applies to banks and sovereigns and...
Download As PDF What Games Are They Playing?A Critique of The Game of Life and Reclaiming the Game Speech of Hal S. Scott ‘65Nomura Professor of International Financial Systems,Harvard Law School at the Princeton Football Association President’s DinnerPrinceton Club...
