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international finance

This is the page for Caroline Bradley’s International Finance Class at the University of Miami. This class is being offered in Spring 2021 as an online class. We will be meeting once each week via zoom, and, in addition I will provide some lecture material via this blog in addition to the written course materials which you will also access via this blog. My aim in this class is to study current issues relating to international financial activity. You can see what we did in Spring 2019 here. Since then I have separated out the climate finance topic into a separate course which I am teaching in the second half of this semester. And this semester in place of that topic I plan to focus on the pandemic. The syllabus for this class is on the international finance materials 2021 page, and eventually this page will evolve to look more like the Spring 2019 page, although the materials will not be the same.

Week 6 (March 4): Issues in Transnational Financial Regulation
The readings are a bit different this week. There is a large amount of financial regulation, much more than we could cover in one semester, so this section of the class introduces you to an example of transnational co-operation in financial regulation. We began to learn a bit about cross-border payments in the context of the Libyan Arab Bank case. Now we will think about the payments system as the plumbing of the international financial system (financial markets infrastructure). The Federal Reserve Policy document examines risks in the payments system and risk management (referring to the Principles for Financial Markets Infrastructures), and the second paper looks at payments regulation as it relates to fintech (I selected this paper as I think many of us are interested in issues relating to fintech (we will read some more material relating to fintech late)). The third paper looks at reserve currencies (with some discussion of payments system issues).

Federal Reserve Policy on Payment System Risk (Oct. 2020)

Tanai Khiaonarong & Terry Goh, Fintech and Payments Regulation: Analytical Framework, IMF Working Paper WP/20/75 (May 29, 2020)

Alina Iancu et al, Reserve Currencies in an Evolving International Monetary System, IMF Strategy, Policy, & Review Department & Statistics Department Paper 20/02 (Nov. 17, 2020)

I will add a powerpoint lecture on Law Debenture v Ukraine.

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