SALERNO MARIA ELENA

a.a. 2022-2023

Course unit:

International Banking and Financial Regulation (2022-2023)

Objectives:

The purpose of the course is to provide students with an analysis of functional and structural changes in the International Financial Governace after global financial crisis. These changes pertain to both Global Financial Architecture and Global Financial Regulation and they are directed to assure a sound governance of global financial markets.

Recommended prerequisites:

Knowledge of basic principles of Public law, Company law, Banking and Financial Law

Contents:

Objectives of and Rationale for Financial Regulation

• The Pre-Crisis International Financial Governance Framework
• International Financial Institutions: structure and mandate
• International Standards Setting Bodies: structure and mandate
• National Financial regulatory and Supervisory Models
• Financial Supervision System in the European Union
• Financial Supervision System in the European Banking Union
• The Feasible Future of Global Financial Regulatory and Supervisory System
• European Union Money Law

Recommended Textbooks:

1. Gimigliano G., Cattelan V. (eds), Money Law, Capital, and the Changing Identity of the European Union, Bloomsbury Publishing, 2022, Chapters: 3-7-8-9-15.
2. Maria Elena Salerno, Global Financial Governance. The feasible Future, Giappichelli, Torino, 2018.

Suggested Readings:

3. Joseph E. Stiglitz (2010), Risk and Global Economic Architecture: Why full Financial Integration may be Undesirable, NBER WORKING PAPER SERIES, February 2010, available online

4. Daniel Calvo, Juan Carlos Crisanto, Stefan Hohl and Oscar Pascual Gutiérrez, Financial supervisory architecture: what has changed after the crisis?, 8 FSI Insights on policy implementation, April 2018, available online

Type of exams

- Mid-term exam: participation to 5 lectures (study material: no. 1) and to the presentation of the book (from which the study material No. 1 is taken) on the 4^th of November (morning session). At the presentation of the book, the students, organised in groups of no more than three persons, will have the task of: i) preparing and asking a reasoned question to one or more speakers, when the panel is open; ii) preparing a video report of the presentation (no more than 3/4 minutes) to be sent to Dr. Gimigliano by the 30^th of November.

The students who pass mid-term exam are forever exempted from studying the Chapters of the textbook No. 1, as the positive evaluation of the mid-term exam does not expire. They are recognised the eligibility to held the final exam on the textbook No. 2. The final mark just depends on the student’s performance at the final exam, but the positive evaluation (sufficient, good, very good) of the mid-term exam is favourably considered.

- Final exam

A) Students who pass mid-term exam:

The final exam is oral. It is based on the textbook No. 2.

B) Students who don’t pass mid-term exam or decide not to have mid-term exam:

- the first part of the exam is written. It consists of 3 open-ended questions based on the Chapters of the textbook No. 1. Positive evaluation of this part is only a condition for taking the second part of the exam.

- the second part of the exam is oral and it is based on the textbook No. 2. The final mark just depends on the student’s performance during this part of the exam. If the student doesn’t pass the second part of the exam, the positive evaluation of the first part expires. The first and the second part of the exam must be held on the same day.