Risk, Discretion, and Bank Supervision

#bank #supervision is central to two foundational tensions in the #governance of #american #finance: the extent of control by public or private actors, and the extent of control through bright-line rules or regulatory discretion. Bank supervision involves the shared management of financial risk, with public actors guaranteeing the #resilience of the #financialsystem while private actors manage frontline #risk. Supervision represents the government’s evolving management of relationships, guarantees, and commitments to private actors, with the use of regulatory discretion within intentionally broad and vague rules. Drawing on the history of supervision in the #us, this article presents a theoretical conception of supervision as a space where #bankers and the #government engage in cooperative or contentious disputes that substantially influence financial and economic policy.
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