<?xml version="1.0" encoding="UTF-8"?>
<feed xmlns="http://www.w3.org/2005/Atom" xml:lang="en">
    <title>Global Financial Systems - Lecture slides</title>
    <subtitle>Exploring why behind global financial stability, providing insightful discussions on the international financial system and the contemporary issues of today</subtitle>
    <link rel="self" type="application/atom+xml" href="https://www.globalfinancialsystems.org/slides/atom.xml"/>
    <link rel="alternate" type="text/html" href="https://www.globalfinancialsystems.org/slides/"/>
    <generator uri="https://www.getzola.org/">Zola</generator>
    <updated>2026-08-01T00:00:00+00:00</updated>
    <id>https://www.globalfinancialsystems.org/slides/atom.xml</id>
    <entry xml:lang="en">
        <title>Chapter 21: Artificial Intelligence</title>
        <published>2026-08-01T00:00:00+00:00</published>
        <updated>2026-08-01T00:00:00+00:00</updated>
        
        <author>
          <name>
            
              Jon Danielsson
            
          </name>
        </author>
        
        <link rel="alternate" type="text/html" href="https://www.globalfinancialsystems.org/slides/artificial-intelligence/"/>
        <id>https://www.globalfinancialsystems.org/slides/artificial-intelligence/</id>
        
        <summary type="html">How AI is used in finance, cyber risk, monoculture, supervision and AI-driven crises</summary>
        
    </entry>
    <entry xml:lang="en">
        <title>Chapter 14: Bailouts</title>
        <published>2026-08-01T00:00:00+00:00</published>
        <updated>2026-08-01T00:00:00+00:00</updated>
        
        <author>
          <name>
            
              Jon Danielsson
            
          </name>
        </author>
        
        <link rel="alternate" type="text/html" href="https://www.globalfinancialsystems.org/slides/bailouts/"/>
        <id>https://www.globalfinancialsystems.org/slides/bailouts/</id>
        
        <summary type="html">Why authorities bail out banks, lender of last resort history, moral hazard and alternatives</summary>
        
    </entry>
    <entry xml:lang="en">
        <title>Chapter 8: Bank Runs and Deposit Insurance</title>
        <published>2026-08-01T00:00:00+00:00</published>
        <updated>2026-08-01T00:00:00+00:00</updated>
        
        <author>
          <name>
            
              Jon Danielsson
            
          </name>
        </author>
        
        <link rel="alternate" type="text/html" href="https://www.globalfinancialsystems.org/slides/bank-runs-and-deposit-insurance/"/>
        <id>https://www.globalfinancialsystems.org/slides/bank-runs-and-deposit-insurance/</id>
        
        <summary type="html">Bank runs, the Diamond-Dybvig model and how deposit insurance changes bank fragility</summary>
        
    </entry>
    <entry xml:lang="en">
        <title>Chapter 7: Banking Crises</title>
        <published>2026-08-01T00:00:00+00:00</published>
        <updated>2026-08-01T00:00:00+00:00</updated>
        
        <author>
          <name>
            
              Jon Danielsson
            
          </name>
        </author>
        
        <link rel="alternate" type="text/html" href="https://www.globalfinancialsystems.org/slides/banking-crises/"/>
        <id>https://www.globalfinancialsystems.org/slides/banking-crises/</id>
        
        <summary type="html">Why banks fail, what banking crises cost and how best practice tries to prevent them</summary>
        
    </entry>
    <entry xml:lang="en">
        <title>Chapter 10: (Credit) Markets (and infrastructure)</title>
        <published>2026-08-01T00:00:00+00:00</published>
        <updated>2026-08-01T00:00:00+00:00</updated>
        
        <author>
          <name>
            
              Jon Danielsson
            
          </name>
        </author>
        
        <link rel="alternate" type="text/html" href="https://www.globalfinancialsystems.org/slides/credit-markets-and-infrastructure/"/>
        <id>https://www.globalfinancialsystems.org/slides/credit-markets-and-infrastructure/</id>
        
        <summary type="html">Credit markets, securitisation, ratings, margins, central clearing and the shadow banking system</summary>
        
    </entry>
    <entry xml:lang="en">
        <title>Chapter 11-a: Currency Markets. Part a</title>
        <published>2026-08-01T00:00:00+00:00</published>
        <updated>2026-08-01T00:00:00+00:00</updated>
        
        <author>
          <name>
            
              Jon Danielsson
            
          </name>
        </author>
        
        <link rel="alternate" type="text/html" href="https://www.globalfinancialsystems.org/slides/currency-markets-part-a/"/>
        <id>https://www.globalfinancialsystems.org/slides/currency-markets-part-a/</id>
        
        <summary type="html">Currency market structure, fixed and floating regimes, Bretton Woods, intervention and speculative attacks</summary>
        
    </entry>
    <entry xml:lang="en">
        <title>Chapter 11-b: Currency Markets. Part b</title>
        <published>2026-08-01T00:00:00+00:00</published>
        <updated>2026-08-01T00:00:00+00:00</updated>
        
        <author>
          <name>
            
              Jon Danielsson
            
          </name>
        </author>
        
        <link rel="alternate" type="text/html" href="https://www.globalfinancialsystems.org/slides/currency-markets-part-b/"/>
        <id>https://www.globalfinancialsystems.org/slides/currency-markets-part-b/</id>
        
        <summary type="html">Carry trades, capital flows and controls, global imbalances, FX trading and reserve currencies</summary>
        
    </entry>
    <entry xml:lang="en">
        <title>Chapter 20: Digital Currencies</title>
        <published>2026-08-01T00:00:00+00:00</published>
        <updated>2026-08-01T00:00:00+00:00</updated>
        
        <author>
          <name>
            
              Jon Danielsson
            
          </name>
        </author>
        
        <link rel="alternate" type="text/html" href="https://www.globalfinancialsystems.org/slides/digital-currencies/"/>
        <id>https://www.globalfinancialsystems.org/slides/digital-currencies/</id>
        
        <summary type="html">Stablecoins, their run risk and geopolitics, central bank digital currencies and the underlying technology</summary>
        
    </entry>
    <entry xml:lang="en">
        <title>Chapter 3: Endogenous Risk</title>
        <published>2026-08-01T00:00:00+00:00</published>
        <updated>2026-08-01T00:00:00+00:00</updated>
        
        <author>
          <name>
            
              Jon Danielsson
            
          </name>
        </author>
        
        <link rel="alternate" type="text/html" href="https://www.globalfinancialsystems.org/slides/endogenous-risk/"/>
        <id>https://www.globalfinancialsystems.org/slides/endogenous-risk/</id>
        
        <summary type="html">How the financial system creates its own risk, from 1987 to LTCM and carry trades</summary>
        
    </entry>
    <entry xml:lang="en">
        <title>Chapter 13: Financial Regulations</title>
        <published>2026-08-01T00:00:00+00:00</published>
        <updated>2026-08-01T00:00:00+00:00</updated>
        
        <author>
          <name>
            
              Jon Danielsson
            
          </name>
        </author>
        
        <link rel="alternate" type="text/html" href="https://www.globalfinancialsystems.org/slides/financial-regulations/"/>
        <id>https://www.globalfinancialsystems.org/slides/financial-regulations/</id>
        
        <summary type="html">Basel capital rules, how much capital banks need, macroprudential policy, supervision and resolution</summary>
        
    </entry>
    <entry xml:lang="en">
        <title>Chapter 2: Great Depression</title>
        <published>2026-08-01T00:00:00+00:00</published>
        <updated>2026-08-01T00:00:00+00:00</updated>
        
        <author>
          <name>
            
              Jon Danielsson
            
          </name>
        </author>
        
        <link rel="alternate" type="text/html" href="https://www.globalfinancialsystems.org/slides/great-depression/"/>
        <id>https://www.globalfinancialsystems.org/slides/great-depression/</id>
        
        <summary type="html">The 1920s buildup, the 1929 crash, monetary and trade policy failures and parallels with today</summary>
        
    </entry>
    <entry xml:lang="en">
        <title>Chapter 4: Liquidity</title>
        <published>2026-08-01T00:00:00+00:00</published>
        <updated>2026-08-01T00:00:00+00:00</updated>
        
        <author>
          <name>
            
              Jon Danielsson
            
          </name>
        </author>
        
        <link rel="alternate" type="text/html" href="https://www.globalfinancialsystems.org/slides/liquidity/"/>
        <id>https://www.globalfinancialsystems.org/slides/liquidity/</id>
        
        <summary type="html">Market and funding liquidity, how they interact and why liquidity vanishes in a crisis</summary>
        
    </entry>
    <entry xml:lang="en">
        <title>Chapter 19: Sovereign Debt Crises</title>
        <published>2026-08-01T00:00:00+00:00</published>
        <updated>2026-08-01T00:00:00+00:00</updated>
        
        <author>
          <name>
            
              Jon Danielsson
            
          </name>
        </author>
        
        <link rel="alternate" type="text/html" href="https://www.globalfinancialsystems.org/slides/sovereign-debt-crises/"/>
        <id>https://www.globalfinancialsystems.org/slides/sovereign-debt-crises/</id>
        
        <summary type="html">Sovereign debt, why it is repaid without enforcement, defaults and today&#x27;s debt sustainability</summary>
        
    </entry>
    <entry xml:lang="en">
        <title>Chapter 1: Systemic Risk</title>
        <published>2026-08-01T00:00:00+00:00</published>
        <updated>2026-08-01T00:00:00+00:00</updated>
        
        <author>
          <name>
            
              Jon Danielsson
            
          </name>
        </author>
        
        <link rel="alternate" type="text/html" href="https://www.globalfinancialsystems.org/slides/systemic-risk/"/>
        <id>https://www.globalfinancialsystems.org/slides/systemic-risk/</id>
        
        <summary type="html">What systemic risk is, where it comes from and how it is measured and contained</summary>
        
    </entry>
    <entry xml:lang="en">
        <title>Chapter 5: The Central Bank and Monetary Policy</title>
        <published>2026-08-01T00:00:00+00:00</published>
        <updated>2026-08-01T00:00:00+00:00</updated>
        
        <author>
          <name>
            
              Jon Danielsson
            
          </name>
        </author>
        
        <link rel="alternate" type="text/html" href="https://www.globalfinancialsystems.org/slides/the-central-bank-and-monetary-policy/"/>
        <id>https://www.globalfinancialsystems.org/slides/the-central-bank-and-monetary-policy/</id>
        
        <summary type="html">What central banks do, how money is created, monetary policy, QE and inflation</summary>
        
    </entry>
    <entry xml:lang="en">
        <title>Chapter 22: The global financial system in 2026: Opportunities and threats</title>
        <published>2026-08-01T00:00:00+00:00</published>
        <updated>2026-08-01T00:00:00+00:00</updated>
        
        <author>
          <name>
            
              Jon Danielsson
            
          </name>
        </author>
        
        <link rel="alternate" type="text/html" href="https://www.globalfinancialsystems.org/slides/the-global-financial-system-in-2026-opportunities-and-threats/"/>
        <id>https://www.globalfinancialsystems.org/slides/the-global-financial-system-in-2026-opportunities-and-threats/</id>
        
        <summary type="html">Threats and opportunities ahead, from sovereign debt and demographics to climate, populism and geopolitics</summary>
        
    </entry>
    <entry xml:lang="en">
        <title>Chapter 15: Dangerous Instruments</title>
        <published>2018-08-01T00:00:00+00:00</published>
        <updated>2018-08-01T00:00:00+00:00</updated>
        
        <author>
          <name>
            
              Jon Danielsson
            
          </name>
        </author>
        
        <link rel="alternate" type="text/html" href="https://www.globalfinancialsystems.org/slides/dangerous-instruments/"/>
        <id>https://www.globalfinancialsystems.org/slides/dangerous-instruments/</id>
        
        <summary type="html">Credit default swaps, CDOs, correlation and complexity in the 2007-2009 crisis</summary>
        
    </entry>
    <entry xml:lang="en">
        <title>Chapter 6: Asian Crisis of 1997 and the IMF</title>
        <published>2013-09-01T00:00:00+00:00</published>
        <updated>2013-09-01T00:00:00+00:00</updated>
        
        <author>
          <name>
            
              Jon Danielsson
            
          </name>
        </author>
        
        <link rel="alternate" type="text/html" href="https://www.globalfinancialsystems.org/slides/asian-crisis-of-1997-and-the-imf/"/>
        <id>https://www.globalfinancialsystems.org/slides/asian-crisis-of-1997-and-the-imf/</id>
        
        <summary type="html">The 1997 Asian crisis, its causes, the IMF response and the lessons drawn</summary>
        
    </entry>
    <entry xml:lang="en">
        <title>Chapter 12: Currency Crisis Models</title>
        <published>2013-08-01T00:00:00+00:00</published>
        <updated>2013-08-01T00:00:00+00:00</updated>
        
        <author>
          <name>
            
              Jon Danielsson
            
          </name>
        </author>
        
        <link rel="alternate" type="text/html" href="https://www.globalfinancialsystems.org/slides/currency-crisis-models/"/>
        <id>https://www.globalfinancialsystems.org/slides/currency-crisis-models/</id>
        
        <summary type="html">First and second generation currency crisis models, global games and the Argentine experience</summary>
        
    </entry>
    <entry xml:lang="en">
        <title>Chapter 16: Failures in Risk Management and Regulations</title>
        <published>2013-08-01T00:00:00+00:00</published>
        <updated>2013-08-01T00:00:00+00:00</updated>
        
        <author>
          <name>
            
              Jon Danielsson
            
          </name>
        </author>
        
        <link rel="alternate" type="text/html" href="https://www.globalfinancialsystems.org/slides/failures-in-risk-management-and-regulations/"/>
        <id>https://www.globalfinancialsystems.org/slides/failures-in-risk-management-and-regulations/</id>
        
        <summary type="html">How risk management and regulation failed before the crisis and the role of capital</summary>
        
    </entry>
    <entry xml:lang="en">
        <title>Chapter 17: The ongoing crisis 2007-2009 phase</title>
        <published>2013-08-01T00:00:00+00:00</published>
        <updated>2013-08-01T00:00:00+00:00</updated>
        
        <author>
          <name>
            
              Jon Danielsson
            
          </name>
        </author>
        
        <link rel="alternate" type="text/html" href="https://www.globalfinancialsystems.org/slides/the-ongoing-crisis-2007-2009-phase/"/>
        <id>https://www.globalfinancialsystems.org/slides/the-ongoing-crisis-2007-2009-phase/</id>
        
        <summary type="html">The buildup to 2007, how banking changed, the crisis itself and the policy response</summary>
        
    </entry>
    <entry xml:lang="en">
        <title>Chapter 9: Trading and Speculation</title>
        <published>2013-08-01T00:00:00+00:00</published>
        <updated>2013-08-01T00:00:00+00:00</updated>
        
        <author>
          <name>
            
              Jon Danielsson
            
          </name>
        </author>
        
        <link rel="alternate" type="text/html" href="https://www.globalfinancialsystems.org/slides/trading-and-speculation/"/>
        <id>https://www.globalfinancialsystems.org/slides/trading-and-speculation/</id>
        
        <summary type="html">Trading activities, speculation, market abuse scandals and the policy response to them</summary>
        
    </entry>
</feed>
