This Article maps financial crisis containment - extraordinary measures to stop the spread of financial distress - as a category of legal and policy choice. I make three claims.First, containment is distinct from financial regulation, crisis prevention and resolution. Containment is brief; it...

This article focuses on three recent proposed reforms to the international financial system: Basel III capital requirements, the enhanced use of supervisory colleges, and proposed bank resolution regimes. In addition to analyzing recent reform proposals, the article describes historical...

Banks failed in 2008 because individuals with knowledge of risks were not connected to individuals who had the incentive and power to take corrective action. Evidence of this problem is provided by reports from the Lehman liquidator and The US Government Financial Crisis Inquiry Commission....

This paper develops an analytical model of contagion in financial networks with arbitrary structure. We explore how the probability and potential impact of contagion is influenced by aggregate and idiosyncratic shocks, changes in network structure, and asset market liquidity. Our findings...

We construct a balance sheet based network model to study the interconnectedness of US banking system. After a simulation analysis of the buffer effect of contingent convertible (CoCo) debt in controlling contagion in the banking network under a theoretically motivated model, we use 13-F filings...

The global market of inter-banking syndicated loans is a vast network of obligations upon which lenders rely for longer-term financing, and, in turn, provide to the real economy to finance projects. This network is explicitly modeled from 1998 to 2013 such that firms are nodes and loan...

The purpose of this article is to examine the current situation of non-performing loans (NPLs) in the EU from a diachronic perspective, with a special focus on the regulatory and factual events relating to the Covid-19 pandemic. Although we agree with Cicero that "Historia vero testis temporum,...

Systemic risk is a fundamental constituent of contemporary financial systems. For the past decades a growing number of abrupt upsets in financial systems could be observed. Due to previous experiences, politicians and regulators prefer to identify the off enders outside the system or to blame...

In this paper we gauge the degree of interconnectedness and quantify the linkages between global and other systemically important institutions, and the global financial system. We document that the two groups and the financial system become more interconnected during the global financial crisis...

Der vorliegende Beitrag beschäftigt sich mit der Aufarbeitung der Hintergründe der Subprime-Krise sowie der nachfolgenden internationalen Banken- und Finanzkrisen. Auf dieser Basis werden Vor-schläge diskutiert, wie die erkannten Schwachstellen im Finanzsystem repariert bzw. behoben werden...