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Global Financial Regulation

Global Financial Regulation
This course aims to provide students with first-hand information and knowledge on global financial regulation and help them develop a broad understanding of financial regulation, paying particular attention to the global nature of financial regulation.

The course covers key topics of global coordination of financial regulation. Issues covered are: history of global financial coordination, the 2008/2009 financial crisis, and the financial regulatory reform after the 2008/2009 crisis. The course in particular discusses key financial regulatory standards in the areas of global systemically important financial institutions (G-SIFIs), recovery and resolution, capital requirements, liquidity requirements, corporate governance, market based finance, over-the-counter derivatives, artificial intelligence (AI), financial technology (Fintech), cyber risk and digital currencies.
Students taking this course for credits must take part in all lectures, participate actively in classroom discussions, present a draft term paper on topics related to the course, and submit the final version of the term paper.
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時間割/共通科目コード
コース名
教員
学期
時限
5123405
GPP-MP6E20L3
Global Financial Regulation
河合 美宏
A1 A2
木曜5限
マイリストに追加
マイリストから削除
教室
国際学術総合研究棟 演習室D
講義使用言語
英語
単位
2
実務経験のある教員による授業科目
NO
他学部履修
開講所属
公共政策学教育部
授業計画
The following is a tentative schedule. A concrete and more detailed schedule will be presented on the first day of the course. 1.Introduction to global coordination of financial regulation This lecture will provide an overview of the course and purposes of global coordination of financial regulation. 2.History of international financial regulation This lecture will provide history of international financial regulation and international financial standard setting bodies; particularly in relation to the development of international financial markets 3.Financial crisis of 2008/2009 This lecture will provide an overview of the 2008/2009 financial crisis. 4.Regulatory reform after the 2008/2009 financial crisis This lecture will provide an overview of the regulatory reform after the financial crisis. From this lecture, to the lecture of financial technology and cyber risk, the lectures will discuss key regulatory development after the financial crisis. The lectures will cover purposes and policy measures of each regulatory issue. 5.Global systemically important financial institutions (G-SIFIs) This lecture will discuss global systemically important financial institutions in particular background of the policies, the identification methodologies and the policy measures of the G-SIFIs. 6.Recovery and Resolution This lecture will discuss international standards of recovery and resolution regimes in particular those developed by Financial Stability Board (FSB). 7.Capital requirements This lecture will cover global standards of capital requirements in particular Basel III and Insurance Capital Standards (ICS). 8.Liquidity requirements This lecture will discuss liquidity requirements for the banking sector. In particular the lecture will cover Liquidity Coverage Ratio (LCR) and liquidity monitoring tools. 9.Corporate governance This lecture will cover regulatory standards on corporate governance referring FSB, and other standard setters’ standards. 10.Market based finance (Shadow banking) This lecture will cover regulatory standards on market-based finance (shadow banking). 11.Over the counter derivatives (OTC) This lecture will discuss regulatory standards on over-the-counter derivatives and central clearing houses. 12.Cyber risk This lecture will cover current development of financial policy making in relation to cyber risk. 13.AI and Fintech This lecture will cover current development of financial policy making in relation to artificial intelligence (AI) and financial technology. 14.Digital currencies This lecture will discuss development of digital currencies and their regulatory issues. Students will make presentations based on their Term Papers.
授業の方法
Each class consists of a lecture and discussion on the weekly topic. The course plan is structured with papers published by FSB (Financial Stability Board), BCBS (Basel Committee on Banking Supervision), IAIS (International Association of Insurance Supervisors) and IOSCO (International Organization of Securities Commissions). Students are required to read documents listed in the reading list before the class, and are expected to participate actively in the classroom discussion. In addition students are requested to write a term paper. Students have an opportunity to make a presentation of their idea to the class so that they can incorporate comments from others into their term paper.
成績評価方法
Each student will be assessed as follows:
 40% - class attendance and contribution to class discussion
 40% - production of a term paper (individual) 20% - presentation of the term paper with PowerPoint
教科書
Financial Stability Board website: http://www.fsb.org/***** Basel Committee on Banking Supervision website: https://www.bis.org/***** International Association of Insurance Supervisors website: https://www.iaisweb.org/***** International Organization of Securities Commission website: http://www.iosco.org /*****
参考書
Documents published by FSB, BCBS, IAIS, IOSCO
履修上の注意
Both MPP/IP and non-MPP/IP students are welcome to this English-taught course. The course is multidisciplinary: a good understanding of economic theories as well as law, public administration, and international relations are important. Students are expected to possess knowledge on basic economic theories and finance concepts before taking this course. Those students who are uncertain in this regard should consult Prof. Kawai in advance.