Bank Resolution Regime after the Global Financial Crisis
- Friday, 24 June 2022 | 9:00 - 10:00 (JST)
- Zoom Webinar
- Tomoaki Hayashi Ph.D., Graduate Schools for Law and Politics Faculty of Law, the University of Tokyo
- Masayuki Tamaruya Professor, Graduate Schools for Law and Politics, the University of Tokyo
“Banks live globally but die local”, as described by former Bank of England Governor Marvin King, banking activities are increasingly globalized beyond national borders, while legal frameworks remain separate and distinct at the sovereign level including banking licenses, deposit insurance, and insolvency laws. In the wake of the global financial crisis, international discussions arose toward ending the Too-Big-to-Fail (TBTF) issue. This led to the establishment of international standards for bank resolution, notably “Key Attributes of Effective Resolution Regimes for Financial Institution” (Key Attributes). The purpose of this seminar is to give an overview of the post-financial crisis international debate over the cross-border banking resolution and analyze the remaining issues and challenges for effective cross-border bank resolution.
Tomoaki Hayashi is a recent graduate of a Ph.D. in Law at the University of Tokyo. He currently serves as an economist in the Monetary and Capital Markets Department of the IMF. Prior to joining to the IMF, he worked for the Financial Services Agency in Japan (FSA), with responsibility for international discussion for bank resolution. He has a Master’s degree in Public Administration (MPA) from Columbia University and also a Master’s degree in Law (LL.M.) from the University of Michigan. He has numerous publications, including Japan’s chapter in the “Research Handbook on Cross-Border Bank Resolution” (joint with Hideki Kanda, edited by Matthias Haentjens and Bob Wessels, Edward & Elgar, 2019). He also has experience serving as an external lecturer at Keio University.