The Conference of State Bank Supervisors (CSBS) has developed this paper, Reengineering Nonbank Supervision, to serve two primary purposes. First, as a stakeholder awareness document covering state supervision of the nonbank marketplace; and second, as a change document or roadmap to assist state supervisors in identifying the current state of supervision and making informed changes to state supervisory processes. The paper is comprised of several standalone chapters that together will cover the industry supervised by state nonbank financial regulators, the existing system of supervision for nonbanks, and the challenges and opportunities for state supervisors in reengineering that system.