The New York Fed has released a series of 11 research papers taking a close look at the issues around large and complex banks, aiming to "further study and debate of these topics and to help inform policymakers".

The papers, published together as a special edition of the NY Fed's Economic Policy Review, show big banks do indeed benefit from economies of scale, but the downside is the ‘too-big-to-fail' problem, associated funding advantages and moral hazard.

Bail-in regimes, where the claims of