030621 KU International Banking Regulation (Law) and its Relationship to International Monetary Law (2024W)

This course offers a brief introduction to international financial and monetary law, as this is currently (2024) in force, as one of the three building blocks of international economic law. The purpose is to provide a comprehensive presentation and analysis of key concepts, institutions and substantive rules, which could serve as a “gateway” to those who are keenly interested in this field.

The course is structured in three parts as follows:

The first part, on the “Theory of Banking Regulation” and the “Key Aspects of Central Bank Policies”, will set the scene for the following discussion. This part will briefly discuss:

(a) the functions of the financial system, the role(s) of banks therein, as well as the policy objectives and the instruments of financial and (in particular) banking regulation (the “bank safety net”); and
(b) the function of the monetary system, and the policies employed by central banks therein.

The second part develops on the key aspects of international financial and monetary law, which will be discussed in the context of the current “international financial and monetary architecture”. The emphasis will be on two aspects:
(a) the definition and evolution of international financial and monetary law until our time; and
(b) the systematic elaboration of the four levels in the making and enforcement of international financial law, the role of international financial institutions and international financial fora therein, as well as its key sources, which are encompassed in soft law instruments.

Finally, the third part examines the key institutional aspects of international financial fora in international banking law (such as, predominantly the, Basel Committee on Banking Supervision (BCBS)), in the field of capital markets law and in other fields of international financial law.