This book provides a contextual, interdisciplinary and comparative analysis of the legal and policy framework governing the mechanics of the banking system. It examines the interaction between law, regulation and public policy, focusing on themes such as prudential supervision, financial consumer protection, systemic risk and technological change. It also addresses the impact of Brexit, digitalisation, and the challenges posed by FinTech and AI systems.
Organised into four parts, the book explores the regulatory architecture of UK and EU banking systems, as well as the complex and evolving regulatory frameworks for banks that aim to prevent and manage banking crises. The second edition offers a deeper comprehensive view that balances both academic and practitioner perspectives on the evolving financial industry. It includes a new chapter on ESG and sustainable finance, updates on digital payments and settlement processes, and an exploration of blockchain and crypto assets. The book demonstrates that the proliferation of legislative intervention in the banking sector since the global financial crisis has created persistent tensions between regulatory rules and the common law.
Law and Policy of the Banking System is an invaluable resource for students, scholars, regulators and professionals seeking an account of the rapidly evolving field of banking law and regulation.
