S. International Banking and Finance: The Challenges

Course Information

Course Number
L8138
Curriculum Level
Upperclass
Areas of Study
Interdisciplinary Legal Studies
Type
Seminar

Section 001 Information

Instructors

Section Description

Will the new regulatory environment be resilient enough to limit the impact of the next financial crisis? Ten years after the financial crisis, the landscape of international banking and finance has substantially changed. In contrast to the period before the 2008 crisis, the current sources of financial instability do not originate from weaknesses of the banking sector. Moreover, the drive of the financial crisis ten years ago seems to have lost momentum and key questions are raised about the purpose, value added and effectiveness of post-crisis financial laws. Different from ten years ago, today global indebtedness has reached concerning levels, but sovereign debt is at the core. To understand this development, we will discuss why central banks have such a crucial role in the financial system. Also technology disrupts and challenges traditional finance to access to clients, incumbent payment systems and even currencies. From fintech to crypto-currencies, financial institutions are modernizing and reinventing their relationship with clients. Where are the current fragilities, and how are they addressed by regulators? This class will focus on the key developments within the financial sector that demand regulatory monitoring, and the attempts of regulators to anticipate the next crisis. This seminar examines the challenges facing international finance and banking with a global outlook, both geographically and conceptually. The underlying question is how financial regulation is supporting financial stability and enabling growth. We will discuss current topics in finance and banking with a legal-conceptual perspective; allowing us to consider the political, policy and economic fundamentals of financial regulation. The class covers developments in Europe, the US, Asia - also dependent upon the students' interests and actual events. Goal The class targets students with an interest in financial regulation and does not require in-depth familiarity with financial vocabulary and concepts of financial regulation. The purpose of this class is to improve this understanding and provide students with more background to discuss recent issues in financial regulation. Method - Participation. After an introductory lecture, each class includes open discussions of the week's most relevant financial news and the reading materials for the class. Students are explicitly invited to raise concerns, questions or comments to present their own views. I will invite guest speakers with a different expertise (in previous years we received former Managing Director of the IIF Charles Dallara, Barclays Bank CEO Jes Staley, DE Shaw Legal Counsel John Liftin and President of the European Investment Bank Philippe Maystadt, Brexit negotiations advisor to the UK government Barnabas Reynolds and MetLife head of global regulation Edite Ligere). - Presentation: Each student presents a class-specific case study - Essay. At the end of the semester, students write an essay on a narrow topic of their choice relevant to the course.

School Year & Semester
Spring 2020
Location
JGH 807
Schedule
Class meets on
  • Friday
1:40 - 3:30 pm
Points
2
Method of Evaluation
Paper
J.D Writing Credit?
Minor (automatic)
Major (only upon consultation)
LLM Writing Project
(only upon consultation)

Learning Outcomes

Primary
  • The purpose of this class is to improve the understanding of finance from a regulatory and policy perspective, and provide students with more background to reflect on recent issues in financial regulation.
  • At the end of the course, students will have acquired understanding of and/or facility in use of other disciplines in the analysis of legal problems and institutions, e.g., philosophy; economics,other social sciences; and cultural studies
  • At the end of the course, students will have acquired understanding of and/or facility in the influences of political institutions in law

Course Limitations

Instructor Pre-requisites
None
Instructor Co-Requisites
None
Recommended Courses
None
Other Limitations
Instructor permission not required, but please specify if 2-3L, LLM, SIPA or Business School