ConsultationBackground; Sources of Input for the BCBS Policy Making; The BCBS Public Consultation Process; The BCBS Public Consultation Revisited; Oversight; Background; The Group of Governors and Heads of Supervision; The G20; Conclusion; Section 2. Concluding Remarks and Policy Recommendations; Introduction; Enhancing Reasoned Decision Making and Transparency atthe BCBS; Toward New Consultation Mechanisms: Going Beyond Noticeand Comment; Promoting the BCBS's Accountability at the National andInternational Level; Making the BCBS a More Inclusive Global Standard Setter; List of References
In: Maziar Peihani, 'Resolution of Small and Medium Sized Deposit Taking Institutions: Back to Basics?' 60:2 (2023) American Business Law Journal, 419–475.
In: Maziar Peihani, Regulation of Cyber Risk in the Banking System: A Canadian Case Study, Journal of Financial Regulation, 2022,1–23, https://doi.org/10.1093/jfr/fjac006
In: Maziar Peihani, From (no) bailouts to bail-in: a comparative assessment of Canada's bank recapitalization regime, Capital Markets Law Journal, Volume 17, Issue 1, January 2022, Pages 120–145, https://doi.org/10.1093/cmlj/kmab036
Restructuring sovereign debt has long proved challenging: There is no formal regime for sovereign insolvencies similar to those that that govern domestic bankruptcy and insolvency and attempts to create one by international treaty have been met with political resistance. Currently, sovereign debt restructuring is governed by the debt contracts themselves along with the background law in the jurisdiction in which the debt is issued. Sovereign immunity also protects most state assets from seizure. These ad hoc restructuring processes are plagued by unpredictability, however, and there are incentives for individual creditors to "hold out," demanding full repayment of their claims and thereby undermining a necessary restructuring. Judicial decisions in recent years regarding debt governed by New York law have only strengthened the hand of these holdout creditors. While modifications to standard terms in sovereign debt contracts can go some way towards improving the current situation, this paper proposes that a superior option is the adoption of a Model Law on sovereign debt restructuring by at least one appropriate jurisdiction. Under the Model Law approach, sovereigns could issue debt in a jurisdiction that has enacted a law providing for a fair, orderly, and predictable restructuring in the event that a sovereign's debt becomes unsustainable. Due to its well-developed financial markets and reputation for the rule of law, this paper argues that Ontario, supported by Canada, would be an appropriate jurisdiction to enact such a law. This article further argues that a collaborative legislative approach between Ontario and federal Parliament would best ensure the constitutional validity, and therefore stability, of this novel and innovative proposed regime.
In: "Regulating Systemic Risk in Canada" in Douglas W. Arner et al, eds, Systemic Risk in the Financial Sector: Ten Years after the Great Crash Waterloo: Centre for International Governance Innovation, 2019 pp. 11-30
In: Maziar Peihani & Mark Jewett, "Bringing Rule of Law and Fairness to the Dysfunctional World of Sovereign Debt: A Role for Canada?" Full text: (2019) 56:2 Osgoode Hall L.J. 257-304