41  A paper by Katharina Pistor explains how the regulatory implications of three different theories of financial stability would differ. Katharina Pistor (2012), “‘On the Theoretical Foundations for Regulating Financial Markets,”‘ Columbia Law School Public Law & Legal Theory Working Paper 12-304, June.
BIS central bankers’ speeches  13  of well-established systemic risk measures may counsel caution in approaching merger analysis, and while it has surely already affected the formulation of capital surcharges in the Basel Committee, it may well be leaving a gap in financial stability regulation.