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
Capital and Liquidity
Ten Years After the Financial Crisis: “We Are Safer, But Not As Safe As We Should and Could Be”
Experts from academia and industry gathered at the University of Oxford to revisit what went wrong in the run-up to the 2008 financial crisis, whether the actions that were taken since seem sufficient, and the risks that might forestall a new crisis. The authors Jure Jeric, Thom Wetzer and Alexandra Zeitz are DPhil (PhD) candidates at the University of … Continue reading Ten Years After the Financial Crisis: “We Are Safer, But Not As Safe As We Should and Could Be”
Crypto Tokens, Legislative Intent & Prerogative of Interpretation – The current Dilemma for Supervisory Authorities
Crypto tokens are – in most jurisdictions – far from being “fully regulated”. This does not only pose a challenge for investors or market players, but also for supervisory authorities, which depend on a somewhat clear-cut legal framework. On the one hand, the authorities risk a state of legal uncertainty by abstaining from official statements … Continue reading Crypto Tokens, Legislative Intent & Prerogative of Interpretation – The current Dilemma for Supervisory Authorities
Conference in Berlin, October 31 – Financial Risk and Stability Network
Another year, another big event for conaisseurs of financial regulation: On October 31, the „Financial Stability Conference“ takes places again. It is organised by the „Financial Risk and Stability Network". Suffice it to say that speakers and participants are drawn from the top tier of European financial policymakers; German state secretary in the Ministry of Finance … Continue reading Conference in Berlin, October 31 – Financial Risk and Stability Network
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)
Symmetry in EU banking regulation – getting the policy implementation mix right in the Banking Union era
Banking Union has revolutionised EU banking regulation and supervision by centralising decision-making processes and strengthening policy tools associated with specific policy aims – financial stability in particular. This post argues that in the absence of explicit hierarchy between policy objectives under EU law, symmetry within EU bank regulatory architecture is required. Implementation of other relevant … Continue reading Symmetry in EU banking regulation – getting the policy implementation mix right in the Banking Union era
ECB’s “Power Grab”? The NPL guidance, it’s legal
The never-ending story of non-performing loans (NPLs) in the eurozone has now developed into a legal discussion. The ECB started out with „guidance to banks on NPLs“ in March last year and a subsequent „addendum“ presented in October. That NPL guidance has been criticised by the European Parliament and the EU Council for being a … Continue reading ECB’s “Power Grab”? The NPL guidance, it’s legal
European Banking Institute sets up a Young Researchers Group
In December 2017, the European Banking Institute (EBI) established the Young Researchers Group (YRG) for PhD researchers of EU universities. The initiative is chaired by Lynette Janssen (Leiden University) and Agnieszka Smoleńska (EUI), in cooperation with the Academic Board of the EBI. The EBI is an international centre for banking studies in Frankfurt established as a joint … Continue reading European Banking Institute sets up a Young Researchers Group
Revisiting the Taper Tantrum: A Case for International Monetary Policy Coordination
In the backdrop of the 2007-2008 financial crisis, central banks came to acquire a prominent role in alleviating the immediate and medium term effects of the crisis on the domestic economy. In all systemic countries (US, UK, EU and Japan) central banks were confounded with a slowing economy, rising unemployment and fading market confidence, while fiscal … Continue reading Revisiting the Taper Tantrum: A Case for International Monetary Policy Coordination
Financial Stability Conference in Berlin, October 18
I would like to draw your attention to a conference about financial regulation taking place in Berlin on October 18, the „Financial Stability Conference“. It is organised by the „Financial Risk and Stability Network". Suffice it to say, that speakers and participants are just about the top tier of European financial policymakers and topics discussed are … Continue reading Financial Stability Conference in Berlin, October 18
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