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This course examines the role of banks in the economy, the nature of financial intermediation, and the key risks and regulatory issues that shape banking systems. We will cover both theoretical models and empirical evidence, with applications to current debates on financial stability, monetary policy transmission, competition, digital disruption and climate transition.

1.     What is a (neo)bank? Deposit franchise

2.     Solvency regulation

3.     Liquidity regulation

4.     Bank’s falure and resolution

5.     Shadow banking (securitization, money market mutual funds, repo agreements, stablecoins)

6.     Money creation in the modern banking (+ E-money & stable coins, Libra, CBDC)

7.     Theories that explain why banks exist

8.     Lending-based crowdfunding

9.     Competition in the banking sector

10.  Banks and climate transition

References: 

Freixas, Xavier, and Jean-Charles Rochet. 2023. Microeconomics of Banking. 3rd ed. Cambridge, MA: MIT Press.

Degryse, Hans, Moshe Kim, and Steven Ongena. 2009. Microeconometrics of Banking: Methods, Applications, and Results. Oxford: Oxford University Press.

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