Contents

Chapters in this book

1. Frontmatter I
2. Foreword V
3. Preface VII
4. Contents XV
5. Introduction XIX
6. The Authors XXIII
7. Two forces shaping the financial and monetary order 1
8. I. How the Financial Sector evolved during “Low for Long” and what Factors will drive Future Evolution
9. How the new Monetary Order could impact Financial Services 11
10. Beyond “Low for Long” – charting the Future Course of the Financial Sector 33
11. Is Bank Consolidation an Opportunity or a Necessity? 41
12. II. How will Monetary Policy evolve
13. Macroprudential Policy and Financial Stability 47
14. Monetary Policy in Times of Uncertainty 55
15. Navigating the new Monetary Order in Europe 65
16. III. How should Regulation and Supervision change
17. We don’t need another Framework, we need more of this one 83
18. Stress Testing our post great Financial Crisis Reforms in 2023 91
19. Lessons learned from the U. S. regional Bank Failures of 2023 105
20. Keep Calm and Carry On: Some Developments in Banking Regulation, 2022–2023 113
21. Evolution, not Revolution: how should Regulation and Supervision change 123
22. Banking Union, ten Years after 131
23. IV. How will the Banking Sector evolve
24. From Building Resilience to Enabling Growth 143
25. Banking Union, Crises and Eu Integration 149
26. Banking and Private Credit: Competition, Cooperation, Risk and Regulation 159
27. Higher Returns, lower Valuations: Key Bank Investor Debates in the new Monetary Order 167
28. V. How will the Nonbank Financial Sector evolve
29. Leveraged Investors & Financial Market Dysfunction: The Financial Stability Challenge 181
30. Non-Bank Financial Intermediation is a Net Positive for Financial Stability 233
31. Who’s afraid of Private Debt, and should we be? 245
32. VI. Conclusion
33. Silicon Valley Bank and all that: Lessons from March 2023 277