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Principles of Banking Law

Principles of Banking Law (3rd edn)

Sir Ross Cranston, Emilios Avgouleas, Kristin van Zwieten, Christopher Hare, and Theodor van Sante
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date: 21 March 2023

p. 30811. Cross-Border Bankinglocked

p. 30811. Cross-Border Bankinglocked

  • Ross Cranston, Ross CranstonProfessor of Law at the London School of Economics
  • Emilios Avgouleas, Emilios AvgouleasProfessor of International Banking Law and Finance at the University of Edinburgh; European Banking Authority Stakeholder Group
  • Kristin van Zweiten, Kristin van ZweitenClifford Chance Associate Professor of Law and Finance at Oxford University and a Fellow of Harris Manchester College
  • Theodor van SanteTheodor van SanteBarrister at 3 Verulam Building, Gray's Inn, London
  •  and Christoper HareChristoper HareTravers Smith Associate Professor of Corporate and Commercial Law at the University of Oxford and a Fellow of Somerville College


This chapter first sets out seven cases that illustrate some of the legal problems arising from international banking. Many of these cases are not new, nor are most confined to banking. The chapter outlines of how these problems have been handled followed by an examination of the broader principles underlying the resolution of the harder cases. Comity, balancing, cooperation, and harmonization are considered. Jurisdictional clashes over banking matters continue to occur. Some are resolvable in accordance with established legal doctrine, some in accordance with bilateral and multilateral agreements between states. There remains a question mark over how much is achievable in reducing the conflict by pursuing notions of jurisdiction, comity, and the balancing of interests. Rather, shared concerns on substantive issues, such as money laundering and terrorist financing, are more likely to lead to deference by, and cooperation between, jurisdictions.

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