Welcome The Center was established in 1982 to focus on projects to further financial sector regulatory reform and the development of legal institutions in the financial sectors of emerging market countries. The Center, an Illinois not-for-profit corporation and a registered 501(c)(3) organization, remains true to that original purpose.
History The Center was born of the collaboration of Shearman & Sterling attorney Michael Gruson and University of Illinois Law School professor Ralph Reisner. The two worked together on a series of conferences and publications on banking and financial transactions that led to a law review seminar issue detailing the then newly-enacted International Banking Act of 1978. That law review issue, in tum, was the genesis for the Center's treatise: Regulation of Foreign Banks & Affiliates in the United States. The treatise reflects the collaboration of many of the preeminent banking lawyers in the nation and may be the most authoritative legal text on the subject of international banking in the United States. The treatise, originally published by Butterworth USA, will be published in its 7th edition this spring by Thompson Reuters West, its current publisher.
  Beyond the treatise, the Center has, over the past 30 years, sponsored a multitude of events to promote an understanding of global financial issues. Those events include a number of conferences held in the United States, including in New York, Chicago, and Miami. Others, more in the nature of colloquia among senior members of the banking community, addressed emerging issues of fundamental importance to the international banking community. Those colloquia covered a range of international banking topics and were held in venues spanning the globe from the Rockefeller Foundation Bellagio Center in Italy to the Dominican Republic.
  The Center, in organizing events, has sought not only to present timely topics of interest, but a forum to foster the free exchange of ideas. For instance, in the 1980s and early 1990s, the Center organized a series of conferences under the auspices of the Inter-American Development Bank for the purpose of examining the legal issues associated with sovereign debt defaults. The Center's programs, held in Washington D.C. and a variety of Latin American locations, including Brazil, Mexico, Peru and Venezuela, were unique. The Center's conferences offered a neutral, non-confrontational setting that brought together representatives of Latin American debtor countries, their finance ministries and central banks and the legal counsel of major U.S. and European creditor financial institutions.
  The Center also sponsored another series of programs during the same time frame that were designed to enhance the expertise of legal advisers in emerging market countries in addressing financial issues. The Center's events, held in a variety of venues in the United States, Europe and Asia, included workshops for Eastern European legal personnel in the Czech Republic, Hungary, and Poland. A similar series of workshops was conducted in concert with the Bank of China for the benefit of the legal officials of the government of the Peoples' Republic of China. Half of these programs took place in China and the remainder in Illinois.
  The Center also has fostered three law review symposia on international banking that appeared in the University of Illinois Law Review and the Northwestern Journal of International Law. The Center also has sponsored four books; three of which address various aspects of sovereign debt management and the other containing a survey of the banking laws of sixteen nations.
  The Center's activities to date have all been made possible by grants from three main sources: private foundations, such as the Rockefeller Foundation; U.S. government institutions, such as the Export-Import Bank of the United States; and international financial institutions, such as the World Bank and the Inter-American Development Bank. The Center throughout its over 30 years has operated consistently on a very lean budget. The Center has maintained since its start the policy of not paying any salary, honorarium or fee to any individual affiliated with the Center. Grants and other funds from foundation and institutional supporters have been dedicated entirely to the costs of conducting the Center's programs and events. The limited royalties generated by the Center's treatise, though not a significant factor in funding for the Center's programs, also are used to support Center programs. The Center is, in every sense of the word, the pro-bono venture of its membership.

Impact of U.S. Financial Regulatory Reform on Global Banking Groups

April 2, 2014
Federal Reserve Bank of New York

Symposium Materials

Impact of U.S. Regulatory Reform on Global Banks: Key Perspectives on the Major Areas

February 12, 2013
Federal Reserve Bank of New York

Symposium Materials

In partnership with West, a Thomson Reuters company, the Center is proud to publish:

Regulation of Foreign Banks & Affiliates in the United States, 7th Edition (2013).

Symposium Materials