Learning from such episodes is essential to maintain confidence in the stability of the EU banking system. 
Perotti is a professor of International Finance at the Amsterdam Business School and member of the European Systemic Risk Board's (ESRB) Advisory Scientific Committee (ASC).

The report Addressing banks' vulnerability to deposit runs: revisiting the facts, arguments, and policy options examines the current funding of EU banks, reviews the literature on bank runs and lists reform options aimed at containing the risk of new bank runs.

Among the norms discussed in the report, some would improve solidity by enhanced liquidity and capital norms to prevent bank failures. Some of the novel policy options proposed would focus on resilience after a financial crisis. This involves avoiding regulatory inertia and discouraging self-fulfilling escalation of withdrawals. These types of withdrawals from banks result in more financial instability.

The insight in the report are summarized in two VoxEU blogs on the Centre for Economic Policy Research (CEPR) website.

About the ESRB

The European Systemic Risk Board was created after the 2009 crisis as an independent unit at the European Central Bank to provide macroprudential oversight of the European financial system. Its main objective is to prevent systemic risks that could threaten EU financial stability. The ASC conducts research in this field and contributes to the public debate.