Publications: Notes at the Margin

Will Major Oil Companies Be Labeled "Systemically Important Financial Institutions"? (January 18, 2016)


The title of this issue is intended to wake readers up. Following the 2008/09 financial crisis, governments in several countries passed legislation that imposed increased oversight on very large firms. Initially, the scrutiny focused on banks. The goal was to restrict the activity of institutions deemed “too big to fail.” Over time, though, this supervision has been extended to firms outside the financial arena. The question posed today regards the activity of large energy companies. In particular, we wonder whether the oil price collapse will lead to increased regulatory attention on major oil producers such as Royal Dutch Shell.


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