As the 2008 financial crisis spread globally, it became widely apparent that an essential ingredient to preventing future systemic crises was reform of the regulation of financial markets. Two ambitious initiatives for regulatory reform are the European Union's European System of Financial...

This essay was published as part of a law review symposium that evaluated my work on theregulation of large, complex financial institutions. Part I of my essay discusses the other articlespublished in the symposium issue and describes their relationship to my own work. Part IIanalyzes the global...

This article takes a look at the major accounting policies pertinent to risk management functions of banks internationally and in India. It benchmarks the Indian policies against those internationally on three parameters. It finds wide divergence in policies in Indian banks versus...

This review of the literature on the 2007–09 crisis discusses the precrisis conditions, the crisis triggers, the crisis events, the real effects, and the policy responses to the crisis. The precrisis conditions contributed to the housing price bubble and the subsequent price decline that led...

This paper investigates bank structural funding vis-à-vis bank failures. An empirical analysis is conducted on the defaults of commercial banks occurred in the United States between 2007 and 2009. The results highlight that structural funding position indeed plays a significant role in...

This study examines whether the strength of legal enforcement at the country level plays a role in the value-relevance of accounting quality for loan pricing determination, using an international sample of firms reporting under IFRS. The underlying hypothesis is that stronger vs. weaker...

Basel framework for bank's capital adequacy has been criticized for its over reliance on external credit rating agencies. Moreover, implementation of Minimum Capital Requirement (MCR) under Basel-III is often linked to a decrease in economic growth as it requires banks to maintain a higher...

We study the effect of the banking supervision in institutional settings of foreign-bank dominated financial systems of Central, Eastern and South-Eastern Europe in post-crisis period 2012-2018. For a dataset of 450 banks from 20 economies of the region, we use a mediation-moderation analysis...

This paper aims to review the theoretical findings and empirical evidence of the benefits and costs of integrated financial services providers (IFSP) and draw inferences of developing IFSP in emerging markets with special consideration on China. The overall results can not conclude the...

In this paper we propose a measure of systemic risk in the financial sector, the Expected Systemic Shortfall (ESS) indicator. The ESS-indicator is the product of the probability of a systemic default event and the expected tail loss in case this systemic event occurs. We compute the...