Overview

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? Systemic Risk in the Financial Sector: Ten Years after the Great Crash 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.

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9781928096887

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Douglas W. Arner is Kerry Holdings Professor in Law at the University of Hong Kong. Emilios Avgouleas is international banking law and finance chair at the University of Edinburgh. Danny Busch is chair in financial law and director of the Institute for Financial Law, Radboud University Nijmegen (Netherlands). Steven L. Schwarcz is a CIGI senior fellow and the Stanley A. Star Professor of Law and Business at Duke University.

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