Table of Contents
Foreword xi
Preface xvii
Prologue: A Bird’s-Eye View
The Dodd-Frank Wall Street Reform and Consumer Protection Act 1 Viral V. Acharya, Thomas Cooley, Matthew Richardson, Richard Sylla, and Ingo Walter
PART ONE Financial Architecture 33
Chapter 1 The Architecture of Financial Regulation 35 Thomas Cooley and Ingo Walter
Chapter 2 The Power of Central Banks and the Futureof the Federal Reserve System 51Thomas Cooley, Kermit Schoenholtz, George David Smith, Richard Sylla, and Paul Wachtel
Chapter 3 Consumer Finance Protection 73 Thomas Cooley, Xavier Gabaix, Samuel Lee, Thomas Mertens, Vicki Morwitz, Shelle Santana, Anjolein Schmeits, Stijn Van Nieuwerburgh, and Robert Whitelaw
PART TWO Systemic Risk 85
Chapter 4 Measuring Systemic Risk 87 Viral V. Acharya, Christian Brownlees, Robert Engle,Farhang Farazmand, and Matthew Richardson
Chapter 5 Taxing Systemic Risk 121 Viral V. Acharya, Lasse Pedersen, Thomas Philippon,and Matthew Richardson
Chapter 6 Capital, Contingent Capital, and Liquidity Requirements 143 Viral V. Acharya, Nirupama Kulkarni, and Matthew Richardson
Chapter 7 Large Banks and the Volcker Rule 181 Matthew Richardson, Roy C. Smith, and Ingo Walter
Chapter 8 Resolution Authority 213 Viral V. Acharya, Barry Adler, Matthew Richardson,and Nouriel Roubini
Chapter 9 Systemic Risk and the Regulation of Insurance Companies 241 Viral V. Acharya, John Biggs, Hanh Le, Matthew Richardson, and Stephen Ryan
PART THREE Shadow Banking 303
Chapter 10 Money Market Funds: How to Avoid Breaking the Buck 305 Marcin Kacperczyk and Philipp Schnabl
Chapter 11 The Repurchase Agreement (Repo) Market 319 Viral V. Acharya and T. Sabri Ó ncu¨
Chapter 12 Hedge Funds, Mutual Funds, and ETFs 351 Stephen Brown, Anthony Lynch, and Antti Petajisto
Chapter 13 Regulating OTC Derivatives 367 Viral V. Acharya, Or Shachar, and Marti Subrahmanyam
PART FOUR Credit Markets 427
Chapter 14 The Government-Sponsored Enterprises 429 Viral V. Acharya, T. Sabri Ó ncu¨ , Matthew Richardson, Stijn Van Nieuwerburgh, and Lawrence J. White
Chapter 15 Regulation of Rating Agencies 443 Edward I. Altman, T. Sabri Ó ncu¨ , Matthew Richardson, Anjolein Schmeits, and Lawrence J. White
Chapter 16 Securitization Reform 469 Matthew Richardson, Joshua Ronen, and Marti Subrahmanyam
PART FIVE Corporate Control 491
Chapter 17 Reforming Compensation and Corporate Governance 493 Jennifer Carpenter, Thomas Cooley, and Ingo Walter
Chapter 18 Accounting and Financial Reform 511 Joshua Ronen and Stephen Ryan
Epilogue 527
About the Authors 531
About the Blog 535
Index 537
