Publication Date:  March 2017

Regulation has a vital role in any financial system—and changes to U.S. financial regulation were clearly needed in the wake of the financial crisis. However, in a constantly evolving economy, discussion over the proper calibration of financial regulation should never really stop. Because banking and other financial services cannot be entirely de-risked, at least not without losing the benefits that we as a society expect from the financial sector, completely eliminating risk is not a plausible goal of regulation.Banks and other financial intermediaries need to take on risk to support a growing and dynamic economic engine

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