ESM Research seminar: Incomplete supervisory cooperation (Beck Thorsten)
Agenda
The ESM Research team is pleased to invite you to attend the hybrid seminar on:
Incomplete supervisory cooperation
Held by:
Beck Thorsten
Florence School of Banking and Finance
Monday, 11 September from 14:00 until 15:30 CEST
Please let us know If you will attend virtually or in person via email at
The event will take place in Conference area, make sure to come 15 minutes before the event allowing for a timely start!
Abstract: Banking supervisors frequently cooperate across countries. Novel data on 268 cooperation agreements reveals that such cooperation falls short of covering the global operations of large banking groups. We show that this results in significant risk-shifting: banking groups allocate lending activities and risk into third-country subsidiaries when cooperation agreements cover their operations in other countries. The total implied change in a country’s foreign lending on account of cooperation elsewhere is 13 percentage points, with the effect being magnified in the presence of a weak supervisory framework. Taken together, our results indicate that incompleteness in cooperation substantially diminishes its global effectiveness.
Bio: Thorsten Beck is Director of the Florence School of Banking and Finance and Professor of Financial Stability at the European University Institute. He is co-chair of the Advisory Scientific Committee of the European Systemic Risk Board (2023-27) and Co-editor of the Journal of Banking and Finance. He is a research fellow of the Centre for Economic Policy Research (CEPR) and the CESifo. He was professor of banking and finance at Bayes Business School (formerly Cass) in London between 2013 and 2021 and professor of economics from 2008 to 2014 and the founding chair of the European Banking Center from 2008 to 2013 at Tilburg University. Previously he worked in the research department of the World Bank from 1997 to 2008 and, over the past 12 years, has worked as consultant for – among others - the European Central Bank, the Bank of England, the BIS, the IMF, the Inter-American Development Bank, the Asian Development Bank, the European Commission, and the German Development Corporation. His research, academic publications and policy work have focused on two major questions: What is the relationship between finance and economic development? What policies are needed to build a sound and effective financial system? In addition to numerous academic publications in leading economics and finance journals, he has co-authored several policy reports on access to finance, financial systems in Africa and cross-border banking and he has research and policy experience across a large number of countries across the world. In addition to presentation at numerous academic conferences, including several keynote addresses, he is invited regularly to policy panels across Europe. He holds a PhD from the University of Virginia and an MA from the University of Tübingen in Germany.