Regulators around the globe are responsible for monitoring the banking industry to ensure its “safety and soundness.” In the United States, the Federal Reserve executes these duties. In an exhaustive study of official documents, Paul Goldsmith-Pinkham, Beverly Hirtle and David Lucca of the Federal Reserve Bank of New York examine the scale, scope and consistency of the US supervisory environment and its overlap with market discipline. getAbstract suggests this scholarly report, dense with models and statistics, to policy makers and financial executives engaged in the intricacies of the US bank regulatory apparatus.
About the Authors
Paul Goldsmith-Pinkham is an economist at the Federal Reserve Bank of New York, where Beverly Hirtle is the director of research and David Lucca is a research officer.