Events exploring too-big-to-fail, emerging financial stability risks and resolution ten years after the global financial crisis took place at the University this month.
The high-level round tables organised by Professor Emilios Avgouleas were the first of their kind in Scotland and the product of close cooperation between the Commercial Law Centre of Edinburgh Law School, the Edinburgh Futures Institute and the Bank of England.
The events, which took place on 26 March, featured keynote speeches from Andrea Enria, Chairman of the European Banking Authority and Andrew Gracie, Executive Director for Resolution at the Bank of England.
Senior members of the Financial Conduct Authority, the Scottish Government, and leading academics and industry figures – such as Professor Charles Goodhart of LSE and Professor Steven Schwarcz of Duke Law School – also took part in the event.
The first event mapped a number of existing and emerging financial stability risks in the European and global context with special emphasis on resolution frameworks, and the emergence of fintech operators and markets.
The second roundtable focussed on the UK resolution framework and ending “too-big-too-fail” which is of relevance to both banks and asset management companies. The event was also promoted by Scottish Financial Enterprise.
“Ten years after the financial crisis, markets have entered a period of relative stability, but this is coupled by the disruption brought by great technological transformation. While regulators are still untangling the challenges of “too-big-to-fail” institutions, other types of financial activity and financial institution risk could be starting to emerge. The event was a huge success, with regulators and the industry represented at the highest level. We look forward to continuing our work to bring together academic and industry expertise in finance.”
Professor Emilios Avgouleas Chair in International Banking Law and Finance