In Two Minds: The Governance of Ring-Fenced Banks

A keynote policy of UK financial regulation since the financial crisis has been the ‘ring-fencing’ of retail banks into separate and independently operated entities, so-called ‘ring-fenced bodies’ (RFBs), distinct from entities that carry on other, and especially investment, banking activities within the same corporate group. Such structural regulation of the banking sector – which entered … Continue reading In Two Minds: The Governance of Ring-Fenced Banks

Regulation and Supervision of the OTC Derivatives Market (Book, Routledge, 2018)

Following the Global Financial Crisis, regulators are committed to reduce the likelihood and severity of future crisis. In the area of financial derivatives, regulation is focused on increasing transparency, strengthening market infrastructure, and reducing systemic risk. In our book ‘Regulation and Supervision of the OTC Derivatives Market’, we are looking at these post-crisis regulatory reforms. Our … Continue reading Regulation and Supervision of the OTC Derivatives Market (Book, Routledge, 2018)

Banks without passports: What are the prospects for a “safe landing”?

Тhe decision of the British electorate to leave the European Union ("EU") will have a profound impact on the financial sector in the UK. In this post, we will look at some of the available means to avoid or mitigate the disruption in the wholesale and investment-banking sector as a result of the exit from the EU, namely … Continue reading Banks without passports: What are the prospects for a “safe landing”?

First Banking Union, then ‘Brexit’: Is the EBA dead?

Only shortly after its creation, the European Banking Authority (EBA), the EU agency that was established in 2011 to foster a harmonized approach towards banking regulation and supervision in all EU Member States, found itself in an existential struggle: The financial crisis continued with full speed and even transformed itself into a full-fledged sovereign debt … Continue reading First Banking Union, then ‘Brexit’: Is the EBA dead?

Banks without passports: How deep is the Brexit cliff?

Following the decision of the British electorate to leave the European Union (EU), the concerns of the UK-based banks are focused on the critical issue of “passporting” rights, which allow UK-licensed financial institutions to provide financial services directly to customers in other EU Member States. In a previous post, we have already sketched out the baseline scenarios … Continue reading Banks without passports: How deep is the Brexit cliff?

Banks without passports: The baseline scenarios for the UK banking sector after Brexit

Тhe decision of the British electorate to leave the European Union (EU) will have a profound impact on the financial sector in the UK, which employees 1.1 mm people and generates about 9% of the country`s GDP as well as 11% from the overall tax revenue. One of the most severely affected firms in the … Continue reading Banks without passports: The baseline scenarios for the UK banking sector after Brexit