Banking Law Symposium 2011: Crisis Management and Government Guarantees

In 2011, the Centre for Commercial Law and Financial Regulation, Warwick University and SOAS will be organising the Banking Law Symposium with the OECD. The symposium will be the leading event of the year and shall attract significant prominence.

Since its inception, the Symposium has promoted research and dialogue on banking law and financial sector policy issues. As in past years, the programme focuses on global financial issues and this year it highlights crisis management and the use of government guarantees to promote financial sector stability. This event will attract speakers from a variety of backgrounds; namely policymakers, practitioners (central bankers and regulators) and academics (from a wide range of disciplines). The Symposium will be held in Paris at the OECD and coincides with its 50th Anniversary.

The recent financial crisis has exposed both the banking industry and financial system safety net players (central banks and regulators) in many countries to economic and reputational damage. Research into bank distress generally highlights mismanagement and illiquidity or a deterioration of bank capital. As a consequence, questions of a legal and political nature arise if an ill-thought-out bank resolution system with stakeholders (shareholders, management, creditors, central banks, deposit insurance agencies, regulators and governments) clambering to protect their interests causing untold costs and reputational damage to the banking system. The problems have been aggravated by the magnitude and nature of several cross-border episodes. In addition the size and complexity of bail-out packages have contributed-in certain cases-to a shift in risk from the financial markets to the sovereign arena. What was originally seen as banking or financial crisis has turned into something of a greater magnitude, a systemic crisis.

These circumstances have heightened the need for policymakers to consider corrective policy options under a broad umbrella that encompasses-among others-prompt corrective actions, early closure of distressed entities, effective contingency planning, the use of government guarantees particularly deposit insurance, bail-outs, state-aid, bank resolution and restructuring techniques. The issue of a systemic crisis and the tools available to deal with such a problem are in need of further research.

The Symposium will discuss what changes are needed to make banking systems more resilient before the next crisis hits with a particular focus on:

  • the role of sovereign guarantees particularly in relation to the newly established European Financial Stabilization Fund;
  • an assessment of public guarantees on bank assets in the light of the recent experience in the UK and other countries;
  • the value of the contingent fiscal liabilities created by government guarantees: how to determine it and how to hedge it.

We welcome submissions of high-quality, publishable research on all topics related to financial services, their regulation, and industry issues such as:

  • International Initiatives
  • Failure resolution: Is too-big-to-fail behind us?
  • Systemic risk identification and regulation
  • Crisis Management - Cross-Border, Effective Practices and Strategies for policymakers
  • The financial system safety net - who does what and are there better arrangements that should be developed?
  • Sovereign debt and Linkages to Financial Sector Regulation - Costs and Benefits

Confirmed Speakers

Confirmed speakers and presenters include (among others):
  • Adrian Blundell-Wignall (Deputy Director, OECD)
  • Lee Buchheit (Cleary Gottlieb)
  • Charles Enoch (International Monetary Fund)
  • Gillian Garcia (Gillian Garcia Consultants)
  • Charles A.E. Goodhart (Financial Market Group, London School of Economics)
  • Mitu Gulati (Duke University)
  • Eva Hüpkes (Financial Stability Board)
  • Rosa M. Lastra (Queen Mary University of London)
  • Maria Nieto (Bank of Spain)
  • Fabio Panetta (Banca d'Italia)

Symposium Information

Conference sessions will be at the:

OECD Conference Centre
2, rue André Pascal
5775 Paris Cedex 16, France
Tel: 33 (0)1 45 24 82 00

OECD Conference Centre

Information on getting to France, Hotels and getting to the OECD is available by clicking here.

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