Evaluating financial regulation: (un)intended effects and new risks

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CfP Deadline Date:
November 13, 2021

Conference Event:
April 20-21, 2021

Event Location:
Frankfurt, Germany

Keynote speaker(s):

  • Pablo Hernández de Cos (Governor, Bank of Spain and Chairman of the Basel Committee)
  • Elena Carletti (Bocconi University and CEPR)

Research Task Force of the Basel Committee on Banking Supervision, Deutsche Bundesbank and the Centre for Economic Policy Research

A decade after the global financial crisis, many elements of the Basel III reform have entered into force or are currently being implemented. This calls for an evaluation of the regulatory instruments, which includenew leverage limits, higher and more robust risk-based capital ratios, new liquidity requirements, macro-prudential measures, and other initiatives to improve the resolvability of financial institutions and the stability of the financial system.This workshop aims to consider the impacts of post-crisis reforms, ie whether the regulators’ reform objectives have been reached and to what extent banks have adjusted the composition of their business as a response to the reforms, but also to understand emerging risks that could impact individual financial institutions and the financial system more broadly.The current environment is challenging for the financial industry in many countries, with historically low interest rates, inflated asset values and increased competition among banks and other financial institutions. Are there any unintended regulatory consequences under these circumstances, and is it possible to disentangle the effect of the challenging economic environment from the effect of regulatory reform on banks’ business models and competition in the financial industry? We invite (empirical as well as theoretical) contributions on any topic that can help address these issues. Potential questions of interest could include: •How do regulatory reforms and the macro-economic environment impact financial stability risks?

  • How have banks’ strategies and their business models responded to the regulatory reforms considering the unconventional monetary policy measures?
  • What is the joint effect of regulatory reforms and increased competition in the financial industry on credit supply and economic growth?
  • What are the intended and unintended effects of regulatory changes in a low interest rate and slow growth environment?
    • Is the cost of liquidity and capital regulation particularly significant?
    • How can regulatory measures counter the build-up of asset price bubbles?
  • How do bank regulation, supervision and new resolution regimes interact?
  • Are there international spillovers from regulation or resolution regimes that affect the cross-border activities of banks?
  • Are new methods or new data needed for evaluating regulation and regulatory reforms?

Further Information:

Interested parties should submit their draft papers and any queries to Martin Birn of the Basel Committee’s Secretariat at Martin.Birn@bis.org. The submission deadline is13 November 2020. Contributors will be notified by 15 January 2021.
The workshop aims to bring together leading academics, representatives of the Basel Committee member organisations and other central bankers and bank supervisors as well as market participants.
The Deutsche Bundesbank will contribute toward the cost of academic speakers’ travel and accommodation expenses.