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Contents<br />
Foreword vii<br />
The future of banking – solving the current crisis<br />
while addressing long-term challenges 1<br />
<strong>Thorsten</strong> <strong>Beck</strong><br />
Resolving the current European mess 9<br />
Charles Wyplosz<br />
ESBies: A realistic reform of Europe’s financial<br />
architecture 15<br />
Markus K. Brunnermeier, Luis Garicano, Philip R. Lane, Marco<br />
Pagano, Ricardo Reis, Tano Santos, David Thesmar, Stijn Van<br />
Nieuwerburgh, and Dimitri Vayanos<br />
Loose monetary policy and excessive credit and<br />
liquidity risk-taking <strong>by</strong> banks 21<br />
Steven Ongena and José-Luis Peydró<br />
Destabilising market forces and the structure of banks<br />
going forward 29<br />
Arnoud W.A. Boot<br />
Ring-fencing is good, but no panacea 35<br />
Viral V. Acharya<br />
The Dodd-Frank Act, systemic risk and capital<br />
requirements 41<br />
Viral V Acharya and Matthew Richardson<br />
Bank governance and regulation 49<br />
Luc Laeven
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