Contents

1. Introduction

Yasuyuki Fuchita, Richard J. Herring, and Robert E. Litan

2. Managing Systemwide Financial Crises: Some Lessons from Japan since 1990

Yasuyuki Fuchita and Kei Kodachi

3. The Bankruptcy of Bankruptcy

Gavin Bingham

4. The Case for Regulating the Shadow Banking System

Morgan Ricks

5. Why and How to Design a Contingent Convertible Debt Requirement

Charles W. Calomiris and Richard J. Herring

6. Governance Issues for Macroprudential Policy in Advanced Economies

Douglas J. Elliott