40 years of banking regulation: The words written to prevent the next financial crisis by Neue Zürcher Zeitung

After the world-wide financial crisis 2008, banking regulation almost doubled: This collection of texts now contains over two million words on thousands of pages. Its purpose is to prevent states – and, therefore, tax payers – from rescuing banks that are “too big to fail”. But what do all these documents say? Our text analysis shows, how much banks “should” and how little they “must”. And how the focus on risks and risk management has shifted within the past 40 years.