In less than a fortnight, three medium sized US banks have failed, and Credit Suisse has been taken over by UBS. The recent events have underlined the importance of the full, timely and consistent implementation by national authorities of the agreed reforms in Basel.
The session will first assess the causes of the recent financial turmoil and the lessons for U.S. and global regulation and supervision to be drawn. The speakers will also be invited to express their views on the main risks that stem from the Non-Bank Financial Intermediation in Europe in the current monetary and economic context and whether these risks are well addressed by the EU regulatory and supervisory framework.
Points of discussion
- How to explain the collapse of US mid-sized banks and notably Silicon Valley Bank and the difficulties of Credit Suisse and what lessons should U.S. and global regulation and supervision learn from this turmoil?
- What are the main risks that stem from the Non-Bank Financial Intermediation in Europe in the current macroeconomic context (with persistent high inflation which leads to a rise in nominal rates, weak growth, very high levels of public and private debt)? Are they appropriately addressed by the EU regulatory framework (AIFMD, EMIR, Solvency 2, CRDs, MiCA, …)?