This grant to Yale University supports the planning and development of a new “Program on Financial Stability” aimed at training a new generation of experts on financial regulation. Led by Yale Finance and Management professor Andrew Metrick, the program will aim to translate and synthesize research on macroprudential regulation that speaks to practitioners; compile case studies containing raw data and documentation that describe the interaction between regulation and firm behavior; train early-career scholar-regulators employed by major national and international agencies; and help build an international community of scholars, regulators, and financial experts. If successful, the program promises to provide an invaluable training resource that responds to the need to develop the human, social, and intellectual capital that financial regulators need to fend off future financial crises.