Universität Wien FIND

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040029 SE Seminar Basel Regulation and Bank Resiliency (MA) (2020S)

4.00 ECTS (2.00 SWS), SPL 4 - Wirtschaftswissenschaften
Prüfungsimmanente Lehrveranstaltung


Hinweis: Ihr Anmeldezeitpunkt innerhalb der Frist hat keine Auswirkungen auf die Platzvergabe (kein "first come, first serve").


max. 24 Teilnehmer*innen
Sprache: Englisch


Termine (iCal) - nächster Termin ist mit N markiert

Introduction of topics at first meeting at March 2nd.
Participation at the final presentation at June 23rd (whole session) is mandatory and necessary for a general discussion of seminar outcomes.
Deadline for submission of final papers is July 10th, 2020, 6pm.

1. Face-to-face class room meetings are cancelled from March 23rd until the foreseeable future. Teaching via moodle and zoom.
2. An assessment about the realization of the final presentation in June 23rd will depend on the future assessment of the risk situation and the possibility to return to University premises.

Montag 02.03. 15:00 - 16:30 Seminarraum 4 Oskar-Morgenstern-Platz 1 1.Stock
Montag 09.03. 15:00 - 16:30 Seminarraum 4 Oskar-Morgenstern-Platz 1 1.Stock
Montag 16.03. 15:00 - 16:30 Seminarraum 4 Oskar-Morgenstern-Platz 1 1.Stock
Montag 23.03. 15:00 - 16:30 Seminarraum 4 Oskar-Morgenstern-Platz 1 1.Stock
Montag 30.03. 15:00 - 16:30 Seminarraum 4 Oskar-Morgenstern-Platz 1 1.Stock
Montag 20.04. 15:00 - 16:30 Seminarraum 4 Oskar-Morgenstern-Platz 1 1.Stock
Montag 27.04. 15:00 - 16:30 Seminarraum 4 Oskar-Morgenstern-Platz 1 1.Stock
Montag 04.05. 15:00 - 16:30 Seminarraum 4 Oskar-Morgenstern-Platz 1 1.Stock
Montag 11.05. 15:00 - 16:30 Seminarraum 4 Oskar-Morgenstern-Platz 1 1.Stock
Montag 18.05. 15:00 - 16:30 Seminarraum 4 Oskar-Morgenstern-Platz 1 1.Stock
Montag 25.05. 15:00 - 16:30 Seminarraum 4 Oskar-Morgenstern-Platz 1 1.Stock
Montag 08.06. 15:00 - 16:30 Seminarraum 4 Oskar-Morgenstern-Platz 1 1.Stock
Montag 15.06. 15:00 - 16:30 Seminarraum 4 Oskar-Morgenstern-Platz 1 1.Stock
Montag 22.06. 15:00 - 16:30 Seminarraum 4 Oskar-Morgenstern-Platz 1 1.Stock
Montag 29.06. 15:00 - 16:30 Seminarraum 4 Oskar-Morgenstern-Platz 1 1.Stock


Ziele, Inhalte und Methode der Lehrveranstaltung

The Basel Process has become the central driver of regulating international banking markets since its inception in 1988. Despite a long process of refining the original regulation (Basel I and Basel II) the international banking system seemed not well prepared for the Great Financial Crisis in 2007/8. Accordingly, the system had to be improved by a list of urgent repair operations (Basel III). But reform continues beyond Basel III and the next steps of banking regulation are currently discussed under the heading of Basel IV.
The seminar discusses the underlying economic reasons for capital regulation. It tries to assess the current state of regulation and asks the questions for future directions regulation might have to go in order to render the global banking system more resilient.
While the seminar concentrates on providing a survey on the state of literature it also offers an opportunity for empirical evaluation of certain instruments and/or measure based on empirical data.
The Seminar is co-taught with Mag. Victoria Pagowski, a specialist for banking regulation and resolution at the Österreichische Genossenschaftsverband (ÖGV).


1. The Basel Committee of Banking Supervision and the Origins of Capital Regulation
a. Objectives: Why is there a need to regulate bank capital?
b. The Political Process

2. Basel II and Elements of Self-Regulation
a. The pros and cons of self-regulation
b. The Market Test – The Great Financial Crisis

3. Basel III – Lessons Learned

a. Capital Buffers
i. (How) Do capital buffers affect bank valuation/resiliency?
ii. (How) Do capital buffers affect international competitiveness? (If so, which?)
iii. (Why) Is bank equity costly?
iv. Are issuances of own funds instruments more costly for smaller banks?
v. Are Austrian banks exposed to a high systemic risk?
vi. What are the drivers for significant institutions’ buffers in Austria?

b. Liquidity Buffers
i. (How) Do LCRs affect bank valuation/resiliency?
ii. (How) Do NSFRs affect bank valuation/resiliency?

c. Institution specific capital requirements
i. What are the risk drivers for the Pillar 2 Requirement?
ii. Does the Pillar 2 Requirement consider the diversity of the banking landscape?

d. Banking Recovery and Resolution
i. Is BRRD effective in crisis prevention?
ii. Are CoCos effective crisis-prevention instruments?
iii. Critical functions: substitutability of deposits?
iv. (Why) Can the access to capital markets for eligible liabilities be limited?

4. Basel IV - The Next Steps
a. Shadow banks and remaining “loopholes”?
b. Future challenges?

Predicting asset prices has always fascinated practitioners as well as academics. Despite the huge successes of simple models to explain the basic phenomena of asset prices, standard theories provide little guidance for a vast variety of practical challenges.

The tremendous post-crisis success of ETFs does generate the emergence of common ownership. Industry 4.0 and the digital economy deeply change the interconnection of productive firms as well as the relative allocation of labor and (machine) capital. Social security affects employee risk and the cost of labor. Will, and if so how will these developments affect asset prices?

Likewise, how can we attempt to understand the widely and robustly observed cyclicality in risk premia? How can bubbles emerge and which are the determinants that limit apparent (?) arbitrage opportunities?

Moreover, how are asset prices related to individual attitudes and behavior? Which are the determinants of trust and which are the asset pricing implications of breaking trust? Are environmental attitudes priced and (how) are environmentally friendly business models rewarded by the (anonymous) market?

Art der Leistungskontrolle und erlaubte Hilfsmittel

Seminar thesis (50%)
Presentation (25%)
Active discussion of work of peers (25%)

Attendance mandatory. Course organization will be introduced and the presentation schedule will be arranged in the first meeting at October 1st. Failure to show up in the first meeting may result in the non-availability of presentation slots.

Mindestanforderungen und Beurteilungsmaßstab

This is an advanced master-level seminar. It also serves as a potential basis for the preparation of a master thesis or other advanced work. Therefore, having passed successfully the course "Basics of Finance" and Asset Pricing I" is a pre-requirement.

Grading is based on three elements:

1.The worked out seminar paper (50 points).
Each candidate has to submit a single-authored paper not exceeding 15 pages.
The seminar draft has to be submitted one week prior to the presentation in electronic form. This version is distributed to seminar participants in order to allow them preparation. After the presentation the paper can still be improved.
Deadline for submission of the final version of seminar papers is July 10, 2020. Thereafter no corrections are possibly anymore.

2. Presentation of the seminar paper (25 points)
Presentations can be shared, but each candidate will be assessed on his/her own part.

3. Course participation (25 points)
Active preparation and participation are required as well as active reception and discussion of the work and presentations of peers. A seminar requires two-way communication, i.e. both a sender and a receiver. Accordingly, both roles will be relevant for grading.


Seminar paper and presentation of it.
Active participation in all presentations is required.


A literature list will be introduced and made accessible (via Moodle) in the first meeting.

Zuordnung im Vorlesungsverzeichnis

Letzte Änderung: Mo 07.09.2020 15:19