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Full-Text Articles in Comparative and Foreign Law
Making Banks On A Global Scale: Management-Based Regulation As Agencement, Mika Viljanen
Making Banks On A Global Scale: Management-Based Regulation As Agencement, Mika Viljanen
Indiana Journal of Global Legal Studies
This article seeks to provide a theoretical account of how management-based regulation (MBR), a new regulatory style used by many global regulators, affects its targets. The article centers on a case study. It introduces agencement theory as the theoretical heuristic to inform the analysis of a global, large-scale MBR scheme, the Basel Committee on Banking Supervision's Internal Capital Adequacy Assessment Program (ICAAP). In agencement theory, agency is understood in a neomaterialist frame. The core idea is that an actor's actions are determined by the material assemblage that constitutes her. The agencement heuristic allows ICAAP to be conceptualized as a regulatory …