It will also be better able to monitor cross-border interactions than the sum total of national supervisors. The SSM will not only supervise the most important banks directly. Not just the bank’s absolute size or cross-border activities are of relevance, but also its significance for the respective economy.
After his stint at Treasury, John returned once again to the less tumultuous life of a professor, ensconced in his offices at Stanford University and the Hoover Institution. I'm sure that, in between teaching and guiding the work of graduate students, he will continue to offer insightful commentary on monetary policy and other economic issues.