Isabel Schnabel is a Member of the Executive Board, European Central Bank, and Professor of Financial Economics at the University of Bonn (on leave). She is Research Fellow at the Centre for Economic Policy Research (CEPR) and at the CESifo. Isabel Schnabel received her doctorate from the University of Mannheim and served as Senior Research Fellow at the Max Planck Institute for Research on Collective Goods in Bonn. She was a Visiting Scholar at the International Monetary Fund (IMF), the London School of Economics, and Harvard University. Her research focuses on financial stability, banking regulation, international capital flows, and economic history.