International Monetary and Banking Law Post Covid-19

International Monetary and Banking Law post COVID-19 analyses the response of major financial institutions and central banks to the COVID-19 pandemic, considering the impact on the architecture and content of international monetary and banking law.

List of contents

• Introduction


• Part I: Responses to the COVID-19 Crisis and Maintenance of Financial Stability


• 1: The Role of International Financial Fora in Preserving Global Financial Stability amidst the Pandemic Crisis: The First 18 Months


• 2: Measures Taken by the Federal Reserve in Response to Financial Stress in the U.S. Economy Arising Out of the Global Pandemic


• 3: The Response of Central Banks to the COVID-19 Crisis: Legal Aspects of the ECB's Monetary Policy Measures


• 4: The Response of Central Banks to the COVID-19 Crisis: Legal Aspects of the Bank of England's Policy Measures


• 5: Central Bank Policy Responses to the Effects of COVID-19 on the Brazilian Economy


• 6: Maintaining Financial Stability in China: Legal and Institutional Framework


• Part II: Digitalisation of Money and Finance


• 7: Lex Cryptographica Financiera


• 8: Towards an international framework for the regulation and supervision of “stablecoins”


• 9: The Evolution of New Forms of Money and the Economic Constitution


• 10: Payment in Digital Currency: The Legal Challenge


• 11: Regulation of Crypto Assets: The EU Perspective


• 12: Japanese and International Law Developments of Crypto and Digital Currencies


• 13: Regulating Financial Data in the Digital Era


• Part III: Sustainable Finance


• 14: The Evolution of the Regulatory Framework Governing Climate Change and Sustainable Finance in the EU and UK


• 15: Digitalization and Sustainability: Implications for Financial Law from a Japanese Perspective


• 16: The Emerging Human Rights and Environmental Responsibility of Financial Institutions


• Part IV: Legal Aspects of Central Banking and Banking Regulation and Supervision


• 17: Independence and Accountability of Central Banking


• 18: Unconventional Monetary Policy in the Euro Area: A Comparative Analysis with the Unconventional Monetary Policy of the Federal Reserve


• 19: Central Banking in Taiwan: Governance, Functions, Monetary, and Exchange Rate Policies


• 20: Legal Framework for Monetary Integration in West Africa - AFCFTA


• 21: Supervisory Lessons from Bank Failures in Uganda


• 22: Financial Standards Are Not Legally Binding - Or Are They?

About the author

Sir William Blair studied law at Oxford University and practised at the English bar specialising in banking and finance. He became a High Court judge in 2008 and Judge in Charge of the Commercial Court in 2017-18. Professor of Financial Law and Ethics at the Centre for Commercial Law Studies, Queen Mary University of London, he is Chair of the Enforcement Decision Making Committee of the Bank of England, an international arbitrator at 3VB Chambers where he helped establish the pro bono International Advisory and Dispute Resolution Unit, and a judge of the Qatar International Court.

Chiara Zilioli holds an LL.M. from Harvard Law School and a Ph.D. from the European University Institute. She is the General Counsel of the European Central Bank. She has been appointed Professor at the Law Faculty of the J-W Goethe Universität, Frankfurt am Main, where she lectures regularly. She is also professor at the Law department of the LUISS University, Rome, and at the Collegio Europeo di Parma, Italy. In 2012 she has given a course at the Academy of European Law of the European University Institute. Chiara Zilioli is a member of the Italian Bar, is married and has four children.

Christos Gortsos is Professor of Public Economic Law at the Law School of the National and Kapodistrian University (NKUA) of Athens. He studied, at undergraduate and graduate level, law, economics, finance, as well as international history and politics at the NKUA and the Universities of Zurich, Pennsylvania (Wharton Business School) and Geneva (Graduate Institute of International Studies), where he also obtained his PhD degree. Currently, he is, inter alia, Vice-President of the Board of Appeal of the European Supervisory Authorities, President of the Academic Board of the European Banking Institute (EBI), and Member of the European Parliament's Expert Group on banking resolution.

Summary

The COVID-19 pandemic and the global response to it has led to a major upheaval of the international banking sector. This book has an international reach and constitutes a blend between theory and international, EU, comparative and national law and practice, with the primary purpose to review the impact of the COVID-19 pandemic on the architecture and content of international monetary and banking law. Part I is focused on this aspect, considering the response of international financial fora and some major central banks all over the globe to the crisis.

A secondary purpose is considered in Parts II and III, offering a thorough overview, analysis, and discussion of two main issues which currently are of a significant importance for, and have heavy impact on, the law governing monetary policy and relations, banking regulation and payment systems law: (i) digitalisation of money and finance and (ii) sustainable finance.

Other selected legal aspects relating to central banking, as well as to banking regulation and supervision are finally discussed in Part IV, and in particular central banks' independence and accountability, unconventional monetary policies, comparative aspects of central banking and banking failures, legal aspects of monetary integration, and the legal nature of financial standards.

The individual Chapters are written, exclusively, by members of the Committee on International Monetary Law of the International Law Association (MOCOMILA) and reflect the global composition of this Committee of leading experts in international monetary and banking law from international financial institutions, central banks, the academia, the judiciary, and legal practice.

Product details

• Authors: William (Associate Member Blair
• Assisted by: William Blair (Editor), Christos Gortsos (Editor), Chiara Zilioli (Editor)
• Publisher: Oxford University Press
• Languages: English
• Product format: Hardback
• Released: 11.05.2023
• EAN: 9780192869753
• ISBN: 978-0-19-286975-3
• No. of pages: 544
• Subject: Social sciences, law, business > Law > International law, foreign law