European University Institute Library

Systemic risk in the financial sector, ten years after the great crash, editors, Douglas W. Arner, Emilios Avgouleas, Danny Busch, Steven L. Schwarcz

eng

Includes bibliographical references

illustrations

no index present

non fiction

Systemic risk in the financial sector

bibliography

1096463050

editors, Douglas W. Arner, Emilios Avgouleas, Danny Busch, Steven L. Schwarcz

ten years after the great crash

"In late 2008, the world's financial system was teetering on the brink of systemic collapse. While the impacts of the global financial crisis would be felt immediately, at every level of the economy, it would also send years-long aftershocks through investment, banking and regulatory circles worldwide. More than a decade after the worst year of the global financial crisis, what has been learned from its harsh lessons? Are governments and regulators more prepared for another financial system failure that would significantly affect the real economy? What may be the potential triggers for such a collapse to occur in the future? This book draws on some of the world's leading experts on financial stability and regulation to examine and critique the progress made since 2008 in addressing systemic risk. The book covers topics such as central banks and macroprudential policies; fintech; regulators' perspectives from the United States and the European Union; the logistical and incentive challenges that impede standardization and collection; clearing houses and systemic risk; optimal resolution and bail-in tools; and bank leverage, welfare and regulation. Drawing on experts across disciplines -- including Howell Jackson, John Geanakoplos, Charles Goodhart, Anat Admati, Roberta Romano and Martin Hellwig -- Systemic Risk in the Financial Sector is the definitive guide to understanding the global financial crisis, the safeguards being put into place to try to avoid similar crises in the future, and the limitations of those safeguards."--, Provided by publisher

Introduction : thinking hard about systemic risk / Howell E. Jackson -- Regulating systemic risk in Canada / Anita Anand and Maziar Peihani -- Bank resolution a decade after the global financial crisis : a systematic reappraisal / Emilios Avgouleas and Charles Goodhart -- Three major financial crises : what have we learned? / Ross P. Buckley, Emilios Avgouleas and Douglas W. Arner -- Fintech, regtech and systemic risk : the rise of global technology risk / Douglas W. Arner, Ross P. Buckley and Dirk Zetzsche -- Regulating systemic risk in the EU financial sector / Danny Busch and Mirik van Rijn -- Clearing houses and systemic risk / Paolo Saguato and Guido Ferrarini --Tackling systemic risk for banks and countries : perspectives from the United States and Europe / Ron Feldman and Paul Hiebert -- Data standardization challenge / Richard Berner and Kathryn Judge -- Central banks as macroprudential authorities : economics and politics / Donato Masciandaro -- Activities are not enough! Why non-bank SIFI designations are essential to prevent systemic risk / Jeremy C. Kress, Patricia A. McCoy, and Daniel Schwarcz -- Toward a better bail-in tool : observations from a European perspective / Tobias H. Tröger -- Pitfalls of global harmonization of systemic risk regulation in a world of financial innovation / Roberta Romano -- Bank leverage, welfare and regulation / Anat R. Admati and Martin F. Hellwig -- Leverage caused the 2007-2009 crisis / John Geanakoplos -- Conclusion : closing perspectives on regulating systemic risk / Steven L. Schwarcz