William Nelson

A recent joint analysis of large syndicated loans urged banks to improve their risk management, even though evidence suggests that nonbanks, not banks, hold the higher share of risky leveraged loans.

Having a leverage ratio as a backstop to risk-based capital requirements is sound, but the way it is currently calibrated is having a dramatic effect on financial markets.

Contrary to others’ opinion, interest on excess reserves is part of the Federal Reserve’s monetary policy that serves to reduce volatility and encourage growth.

In guidance on banks' resolution plans, regulators effectively have made important policy decisions about liquidity transformation that were not subject to notice and comment.