Banking and Financial Markets Law (MRV250)
The course "Banking and Financial Markets Law" provides students with an in-depth understanding of the legal issues that arise in banking regulation and law. The course investigates the recent developments in banking law, with the new legislation put in place at the international level. The course provides students with an in-depth understanding of the legal issues that arise in banking regulation and law. The course aims to investigate the recent developments in banking law, with the new legislation put in place at international, European and national levels in the aftermath of the crisis.
The course is divided into three sections with different subject areas that disentangle the rationales and main elements of financial regulation into three components: the "why", the "who", and the "how".
During the first section (the "why"), the reasons behind the regulation and supervision of banks are dealt with. This section addresses the market failures associated with the banking sector (negative externalities, bank run, domino effect, bailout) from a law and economics perspective.
During the second section (the "who"), the financial regulatory system, with the regulatory authorities and supervisory functions at the national level, at the European Union (EU) level, as well as at the global level, are identified and explained.
During the third section (the "how"), the focus is on substantive banking regulation. During this section, the regulation of payment and settlement systems, capital and liquidity controls, supervision of banks as well as bank insolvency and resolution is covered.
The course ends by providing "glimpses" of Financial Technology (FinTech) and Money Law. By building on the knowledge gained through the course, this part aims to display and examine how financial technology impacts traditional finance and business transactions. Topics will be dealt with, i.e., virtual currencies and crypto assets, peer-to-peer lending, blockchain technology, ICOs, and NFTs.
The course aims to push the boundaries of educational experience for students.
Students will be exposed to a wide range of stimulating activities spanning from mandatory lectures and in-focus lectures from guest lecturers and practitioners to advanced optional activities such as moot courts, research paper assignments and tailored study trips to central banks and European agencies.
The course is offered on the condition that there is a sufficient number of enrolled students, it may be cancelled if fewer than 10 students are enrolled by August 20th for the autumn semester.
Course description for study year 2024-2025. Please note that changes may occur.
Course code
MRV250
Version
1
Credits (ECTS)
10
Semester tution start
Autumn
Number of semesters
1
Exam semester
Autumn
Language of instruction
English
Content
The course will contain the following topics:
1. Introduction. Market Failures as a justification to financial law
2. The EU banking law-making process
3. The concept of banking supervision and supervisory powers. Distinction between "prudential" supervision and "conduct" supervision
4. The European Supervisory Authorities as European Agencies
5. The European Banking Union
6. The Single Supervisory Mechanism and the relationship between the European Central Bank and the National Competent Authorities
The Single Resolution Mechanism and the Single Resolution Authority
7. Monetary law
8. The Substantive Rules (capital requirements/liquidity requirements/corporate governance/the authorization procedure)
9. FinTech, Digitalisation and platforms
Learning outcome
Knowledge
The objective of the course is that students have knowledge about:
- the main reforms that unfolded after the financial crisis
- differences sources of banking law.
- of the supervisory practices at national and European and international level
- the main regulatory strategies applied to banking and finance
- the regulatory bodies function (BIS; FSB; EBA; …)
Skills
The objective of the course is that students develop the skills to:
- Analyse different sources of banking law
- examine of the main regulatory strategies applied to banking and finance
- understand and explain the criticisms and issues of banking and financial law
- can discuss the interaction between international, European and national regulatory developments and take into consideration the societal context underpinning banking and financial law
Required prerequisite knowledge
Exam
| Form of assessment | Weight | Duration | Marks | Aid |
|---|---|---|---|---|
| Individual written exam | 1/1 | 3 Hours | Letter grades |
Coursework requirements
Course teacher(s)
Course coordinator:
Andrea MintoCourse teacher:
Andrea MintoStudy Program Director:
Lana BubaloMethod of work
Estimated workload
Videos 2 hours - for introduction and expectation regulation, and repetition purposes
Reading of curriculum 72 hours - everyone has to read the specified curriculum before class.
Lectures 36 hours
Group work/ written assignment 32 hours (work in groups, individual hand-ins, review in class)
Self-study 80 hours
Exam 18 hours
Administrative work 10 hours
Overlapping courses
| Course | Reduction (SP) |
|---|---|
| Banking and Financial Markets Law (MFJ130_1) | 10 |