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2025年度Aセメスター

Global Financial Market, Institutions, and Regulations
河合美宏
A1A2　金曜4限

概要

This course provides a unique opportunity to gain in-depth knowledge of global financial regulation and international policymaking and market development. It blends theoretical foundations with practical experience in rule and policy formulation, guided by Prof. Kawai, who has led an international financial regulatory body for over 20 years and now heads an ASEAN+3 initiative to strengthen financial resilience in the region. The course includes lectures, student presentations, and discussions, welcoming those eager to explore international financial policy and its real-world applications.

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.

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. non banking financial intermediation (Shadow banking)
    This lecture will cover regulatory standards on non banking financial intermediation (shadow banking).
  11. AI and Fintech
    This lecture will cover current development of financial policy making in relation to artificial intelligence (AI) and financial technology.
  12. Disaster risk financing
    This lecture will discuss development of disaster risk financing and its international policy.
  13. International policy making process
    This lecture covers international policy making process - by using disaster risk financing policy making process as an example.
    Students will make presentations based on their Term Papers.
授業方法

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