Franz-Christoph Zeitler: How should banking regulation change? Introductory statement by Professor Dr Franz-Christoph Zeitler, Vice-President of the Deutsche Bundesbank, at the conference "The future of banking regulation", organised by Imperial College London and the Deutsche Bundesbank, Frankfurt am Main, 24 September 2009.
*  *  *  I Roughly speaking, the crisis can be split into three phases: •  Following problems on the US subprime mortgage market, the players lost market confidence in many securitisations and their refinancing, which primarily affected the money markets. •  The crisis peaked with the Lehman insolvency on 15 September 2008.