Smith Co-Hosts Gathering of Top Finance Policymakers,
The Robert H. Smith School of Business recently co-hosted a Washington D.C.
gathering of about 70 senior policymakers and banking executives for a
discussion of key issues relating to enhancing systemic risk awareness,
harmonization and integration in global systemic risk regulation.
The Bretton Woods Committee and Deloitte partnered with Smith in the July 26
event titled "Navigating transformational change of the global financial
landscape: Realizing systemic stability, avoiding unintended consequences.”
Participants reviewed and discussed a
Systemic Risk Regulation since the Financial Crisis: A framework for
understanding the effectiveness, impacts, and harmonization of macroprudential
regulation"--by Smith Executive-in-Residence and Tyser Teaching Fellow
“The financial crisis of 2008-2009 sparked massive global legislative and
regulatory responses to address perceived market and regulatory failures
responsible for setting the crisis in motion," Rossi said. “Few corners of the
financial sector have been left unaffected by these regulatory efforts.
Strengthening both the oversight of individual institutions (microprudential
supervision) and the entire financial system (macroprudential supervision) are
major objectives of global regulatory reform efforts.”
Rossi said the challenge for policymakers and practitioners in light of the
magnitude of financial regulatory efforts is to:
Rossi said his study significantly contributes to the ongoing regulatory
discussion by providing a framework for policymakers and practitioners to assess
the effectiveness of these regulatory efforts and the potential for
harmonization of reforms across various jurisdictions. “In this regard, the
value of this work lies in the concepts and themes that attempt to bring greater
clarity to the vast amount of financial regulation established since the
financial crisis,” he said. “Specifically, the study establishes a set of focus
areas for cataloging various regulatory efforts; outlines a set of broad
criteria for assessing the effectiveness of regulation; provides a mapping of
specific regulations to each focus area and a high level framework to assess
The conference also featured presentations by Citigroup Vice Chairman Michael
Helfer and Treasury Undersecretary for Domestic Finance Mary Miller.
About the Robert H. Smith School of Business
The Robert H. Smith School of Business is an internationally recognized leader
in management education and research. One of 12 colleges and schools at the
University of Maryland, College Park, the Smith School offers undergraduate,
full-time and part-time MBA, executive MBA, MS in business, PhD and executive
education programs, as well as outreach services to the corporate community. The
school offers its degree, custom and certification programs in learning
locations in North America and Asia.