The urgency of estimating the impact of climate risks on the financial system is increasingly recognized among scholars and practitioners. By adopting a network approach to financial dependencies, we look at how climate policy risk might propagate through the financial system. We develop a...

Risk culture is the engine to drive the entire enterprise risk management (ERM) program in any organization and, therefore, is of paramount importance to be a focus point.Australian Prudential Regulation Authority (APRA) has greatly focused on developing risk culture in banks and insurance...

In recent years, assets of non-bank financial intermediaries (NBFIs) have grown significantly relative to those of banks. These two sectors are commonly viewed either as operating in parallel, performing different activities, or as substitutes, performing substantially similar activities, with...

This paper illustrates channels by which regulations that require banks to hold liquid assets can either increase or decrease a bank's incentive to take risk with its remaining ineligible assets. A greater capacity to respond to liquidity stress increases the potential profits a bank would put...

This article examines the regulatory challenges raised by recent, overlooked changes in insurance markets that have led to a functional convergence between insurance and the broader financial sector.The law literature on financial regulation last addressed the issue of convergence over a decade...

This Article is the first to analyze an unexplored but critical change in how modern banks are governed: the rise of lawyers as bank directors. That rise has been precipitous, raising the question of why lawyer-directors now sit on most bank boards. Using novel empirical evidence, we show that...

The purpose of this paper, structured in three Sections, is twofold: (a) The first is to analyse the conditions under which a group of financial firms is considered to be a ‘financial conglomerate' in accordance with the (complex) definition of this term in Article 2 (point (14)) of the...

Nonbank lenders have been playing an increasingly important role in the supply of debt financing, especially post Great Recession. These nonbank financial institutions not only participate in syndicated loans to large businesses but also act as direct lenders to small and mid-sized businesses,...

Social banking considers well-being of the society through the positive relationship between Corporate Social Performance (CSP) and Corporate Financial Performance (CFP) of economic units. This paper seeks to understand the relationship between CSP and CFP in Indian banking industry. The study...