Banking and Finance

Theme: Effectiveness of post crisis reforms and emerging risks to the global financial system

A decade since the financial crisis of 2007-2009, the global financial system is safer than it was. Large UK banks have ten times more capital than they did a decade ago. Between 2011 and mid-2016, the world’s 30 “globally systemically important” banks boosted their common equity by around €1 trillion ($1.3 trillion). This is the direct result of a plethora of macro-prudential regulation to increase banks’ capital and liquidity ratios. The other major problems manifested in the financial crisis of 2007-2009, namely the ‘too-big-to-fail’ phenomenon and lack of accountability of senior managers have also been addressed. The ‘too-big-to-fail’ phenomenon is now controlled by ring-fencing measures and bank resolution mechanisms. Finally, the accountability of senior managers of banks is now more transparent under the UK Senior Managers and Certification Regime.

Regulators and central banks praise the effectiveness of these new reforms. Mark Carney, Government of the Bank of England said that large banks are now safer and “can stand on their own”…“Banks are also more robust because they have changed their funding models, not least due to new global liquidity standards”. Janet Yellen, Chair of the Federal Reserve opines that “banks are very much stronger” and a crisis similar to the one of 2007-2009 is unlikely to happen “in our lifetime”. Yet, some academics are less convinced and argue that the post-crisis regulation has been ‘feeble’.

In light of the above, this conference aims to discuss the effectiveness of the post crisis reforms. It also aims to debate the emerging risks to the global financial system such as financial technology, financial crime, cyber risks, climate change, the Italian economy; trade war risks…etc.

Abstracts are particularly welcome from papers focused on any of the areas above, however abstracts are invited from any general areas of financial regulation, financial crime, financial technology and corporate governance. Abstracts should be no longer than 300 words.

“Effectiveness of post crisis reforms and emerging risks to the global financial system” is the theme of this year’s conference but it’s guidance. It’s always difficult to predict how many abstracts we will receive each year. Therefore, we also welcome good quality abstracts in financial regulation, financial crime, financial technology and corporate governance. 

Convenors

Alison Lui (A.Lui@ljmu.ac.uk) and Steven Cairns (S.Cairns@leeds.ac.uk)