Description

Banking regulation has undergone substantial reforms after the 2008 financial crisis. In spite of these developments, European banks, especially, continue to experience serious difficulties. Central banks still operate in crisis mode and banks do not serve as intermediaries aimed at providing markets with sufficient liquidity. Stress tests prove inadequate. Capital adequacy rules requiring banks to rebuild capital at the bottom of the market are counterproductive and the new liquidity requirements constrain the business further. Modern bank rescue and resolution regimes are ineffective because they promote early bank runs and bail-out mechanisms are reinstated as the current Italian example is showing. A different approach is needed, and the lecture will analyze whether macro-prudential supervision can provide answers and how it should be designed to provide solutions.

ABOUT THE SPEAKER

Jan Dalhuisen is a graduate of the University of Amsterdam, where he also received his PhD, and of the UC Berkeley. He is Professor of Law at King’s College London (since 1996), Visiting Professor of Law at UC Berkeley (since 1998) and Miranda Chair of Transnational Financial Law in the Catholic University of Lisbon (since 2008). His main subjects are commercial and financial law and regulation, its globalization and transnationalisation, and international commercial, financial and foreign investment arbitration. He has widely published in these fields. Professor Dalhuisen is Corresponding Member of the Royal Netherlands Academy of Arts and Sciences, Member of the New York Bar, Fellow of the Chartered Institute of Arbitrators in London, and former ICSID Arbitrator. He was Member of the Advisory Board of Linklaters also in London and was of-counsel to the Miranda Law firm in Lisbon which specializes in the extraction industry in West Africa. Before becoming a full time academic he was a senior in-house counsel and later a senior investment banker, the first Secretary General of the International Primary Market Association (now ICMA) in London, and Executive Board Member of IBJ (now Mizuhu) International Limited in London