This book provides the conceptual and operational tools for understanding the mechanisms for assigning a rating to a network of companies. In it, the author explores the rating systems of corporate networks and analyses the link between rating and an enterprise network.

The analysis in this book reflects various aspects of financial sector transformation in selected Central European countries that are expected to join the EU in 2004. The authors are Central European financial experts who provide, among other things, a detailed overview of the following main topics: Banking Regulation and Supervision; Concentration and Efficiency of the Banking Sectors; Financial (banking) crises in selected Central European countries; and Monetary and Exchange Rate Development. The results of the research done by these authors reflect an interesting fact: that there exist important differences in the financial sector development even in the relatively homogeneous group of selected Central European countries, namely the Czech Republic, Poland, Slovakia and Hungary.

As a governor of the Federal Reserve Board from 1996 to 2002, Laurence H. Meyer helped make the economic policies that steered the United States through some of the wildest and most tumultuous times in its recent history. Now, in A Term at the Fed, Governor Meyer provides an insider's view of the Fed, the decisions that affected both the U.S. and world economies, and the challenges inherent in using monetary policy to guide the economy.

When Governor Meyer was appointed by President Clinton to serve on the Federal Reserve Board of Governors in 1996, the United States was entering one of the most prosperous periods in its history. It was the time of "irrational exuberance" and the fabled New Economy. Soon, however, the economy was tested by the Asian financial crisis, the Russian default and devaluation, the collapse of Long-Term Capital Management, the bursting of America's stock bubble, and the terrorist attacks of 9/11.

In what amounts to a definitive playbook of monetary policy, Meyer now relives the Fed's closed-door debates -- debates that questioned how monetary policy should adapt to the possibility of a New Economy, how the Fed should respond to soaring equity prices, and whether the Fed should broker the controversial private sector bailout of LTCM, among other issues. Meyer deftly weaves these issues with firsthand stories about the personalities involved, from Fed Chairman Alan Greenspan to the various staffers, governors, politicians, and reporters that populate the world of the Fed.

Since the end of his term, Meyer has continued to watch the Fed and the world economy. He believes that we are witnessing a repetition of some of the events of the remarkable 1990s -- including a further acceleration in productivity and perhaps another bull market. History does not repeat itself, yet Meyer shows us how the lessons learned yesterday may help the Fed shape policy today.

The Global Financial Crisis has reshuffled the cards for central banks throughout the world. In the wake of the biggest crisis since the Great Depression, this volume traces the evolution of modern central banking over the last fifty years. It takes in the inflationary chaos of the 1970s and the monetarist experiments of the 1980s, eventually leading to the New Monetary Consensus, which took shape in the 1990s and prevailed until 2007. The book then goes on to review the limitations placed on monetary policy in the aftermath of the global meltdown, arguing that the financial crisis has shaken the new monetary consensus. In the aftermath of the worst crisis since the Great Depression, the book investigates the nature of present and future monetary policy. Is the Taylor rule still a satisfactory monetary precept for central bankers? Has the New Monetary Consensus been shaken by the Global Financial Crisis? What are the fundamental issues raised by the latter cataclysmic chain of events? How should central banks conceptualize monetary policy anew in a post-crisis scenario? Existing books have dwelt extensively on the characteristics of the New Monetary Consensus, but few have cast light on its relevance in a post-crisis scenario. This book seeks to fill this gap, drawing on the lessons from five decades of contrasted theoretical approaches ranging from Keynesianism, monetarism, new classical macroeconomics, inflation targeting and more recently, pragmatic global crisis management.

This is a study of the banking system in Cyprus, from the time that the first bank was founded on the island in 1864 to the present day. The book presents the history of banks and co-operative societies from primary sources and discusses its expansion in the years following independence in 1960. It examines the potential of the offshore banking sector and the likely effects of financial deregulation and the adoption of the EEC Banking Directives on the future developments of the banking system.

This work is a study of the Keynes and Friedman approaches to the institutions which implement monetary and other related policies. The policy of the United States is reviewed, in part, because of the U.S.'s rather central role in developments since World War I. The exchange-rate, reserve, and capital-flow mechanisms of the central banks are discussed from an historical perspective. The major interconnections between money, credit-creating potential of central banks, and fiscal/deficit potential of government are emphasized. The principal central banks considered are the Bank of England, Federal Reserve, and Bundesbank.

Digital financial services are starting to become increasingly popular with consumers, thereby fostering a favorable climate for digital entrepreneurship: mobile payment, Blockchain, etc. Research trying to understand and explain this phenomenon focuses on FinTech. Some scholars regard ""FinTech"" as financial innovations that upset the market while others view them as startups, based on financial innovations, that have changed the ecosystem. There are many open-ended questions about FinTech's business models, how it relates to blockchain, and whether this is a collaborative relationship between traditional financial players or a competitive relationship. Noting the lack of research work on these themes, this book attempts to shed light on this area to bridge the gap between the discourse of practitioners and the literature. Influence of FinTech on Management Transformation is an innovative reference book that defines FinTech and its ecosystem as well as concepts in relation to management transformations caused by FinTech and shares new theoretical and empirical frameworks, useful experiences, and best practices to deal with new technological changes. The chapters are divided into three interrelated sections: ""Insights From the Blockchain Technology""; ""Managerial and Cultural Transformations in the Era of FinTech""; and ""Empirical Experiences and Applications."" This book is a valuable reference tool for financial planners/advisors, managers, accountants, financial analysts, compliance experts, practitioners, researchers, academicians, and students interested in the influence of FinTech on management transformation.

An innovative approach to post-crash credit portfolio management

Credit portfolio managers traditionally rely on fundamental research for decisions on issuer selection and sector rotation. Quantitative researchers tend to use more mathematical techniques for pricing models and to quantify credit risk and relative value. The information found here bridges these two approaches. In an intuitive and readable style, this book illustrates how quantitative techniques can help address specific questions facing today's credit managers and risk analysts.

A targeted volume in the area of credit, this reliable resource contains some of the most recent and original research in this field, which addresses among other things important questions raised by the credit crisis of 2008-2009. Divided into two comprehensive parts, "Quantitative Credit Portfolio Management" offers essential insights into understanding the risks of corporate bonds--spread, liquidity, and Treasury yield curve risk--as well as managing corporate bond portfolios.Presents comprehensive coverage of everything from duration time spread and liquidity cost scores to capturing the credit spread premiumWritten by the number one ranked quantitative research group for four consecutive years by "Institutional Investor"Provides practical answers to difficult question, including: What diversification guidelines should you adopt to protect portfolios from issuer-specific risk? Are you well-advised to sell securities downgraded below investment grade?

Credit portfolio management continues to evolve, but with this book as your guide, you can gain a solid understanding of how to manage complex portfolios under dynamic events.

This is a book that will be helpful to readers, who are interested in banking, management practices, leadership, and the Atlanta business scene with insights of the "key movers and shakers" and the deals they consummated. It will have a strong appeal for bankers in general, neophyte managers, and the seasoned professional. An abundance of practical business skills, strategy, tactics formulation, and marketing techniques are presented. These issues and insights are highlighted throughout the publication for easy review and applicability. Many of my experiences in the Marine Corps and in Vietnam are reviewed in the book as to lessons learned and how these were ultimately modified to fit a business environment. These stories and comparisons are unique. They will provide the reader with insight into both the leadership and management process viewed with a new and different approach under very unusual circumstances. Banking customers should also find the information helpful. It will provide them with a broader insight into the banking world and issues involving their own financial future.

This book analyses the advantages and disadvantages of the banking system reforms with particular reference to centrally planned economies. The book reviews the socialist banking reforms and analyses their financial problems. Employing a critical exposition of banking theories, it assesses current financial disorders and takes issue with some established theories.

Hardbound. This volume brings together a collection of research papers on financial sector reform and privatization in the transition economies of Eastern Europe and related issues in other transforming economies.It represents a selection of invited papers and best papers presented at various conferences and workshops held in Estonia, Poland and The Netherlands. It is the work of leading scientists, and thereby provides a very authoritative analysis of the ongoing process of financial sector reforms and privatization in transition economies. The main theoretical and empirical issues are carefully brought out to bear on the pressing policy and institutional schemes that are desirable in transition economies.

This book explores the diversity of restructuring instruments applied to financial institutions in EU countries during the Global Financial Crisis. It investigates the cost of that support before evaluating its effects, as well as providing an extensive analysis of the measures undertaken. The first chapter presents a historical outline, discusses causes of crises, and offers an overview of the restructuring instruments and of how they were used for crisis management before 2007. The following chapters explore the financial environment in the EU before the crisis outbreak, the rescue actions and financial landscape after the events of the crisis. This book offers a critical and thorough analysis of the financial support provided to banks, providing case studies of over 95 banks from 17 EU member states. The authors provide an in-depth study of the pre and post-crisis landscape, and demonstrate that the crisis has by no means been overcome.

This book shows how money and banks emerge to efficiently address problems of trust between economic agents. The analysis offers an innovative approach for integrating monetary theory, banking theory, and standard economic theory in a game theoretical framework. The unified perspective of the book contributes to a better understanding of the microeconomic foundations of monetary policy and banking. It emphasizes the importance of trust supported by credible institutional structures in the financial industry.

This book is an in-depth analysis of the key players (China, India, Brazil, Russia, Turkey, Indonesia, North Africa) of the unprecedented international economic integration of the last 25 years. Despite their success, the fragilities of their banking systems pose constraints to domestic growth and risks to global financial stability.

Using institutional theory to explain innovation and merging academic and critical analysis with practical recommendations, this book provides a full and rich account of how new products are brought to market; considering both the successes and failures in equal measure. This book takes the meeting point of two seemingly incongruous schools of theoretical thought to enlighten the debate surrounding product innovation. In doing so it: illustrates how institutional forces come to shape the interest, priorities and behaviour of organizational members in the development and implementation process of incremental product innovation investigates the failed innovative attempts of established organizations demonstrates the importance of organizational and intra-organizational forces for innovative success. The insight it offers into the organization of product innovation processes in the financial services sector and the guidelines it sets up for their improvement makes Innovation and Institutions essential reading for those working in or studying the banking, finance and insurance sector who have an interest in innovation studies.

When originally published this was the first reference book to address itself to Islamic banking and finance and it offers comprehensive information on all major institutions which have commercial or banking interests in this field. It includes analysis of the principles behind interest-free banking and indicates its relationship with financial institutions in both Islamic countries and Western ones. It also lists the laws governing interest-free banking in countries where it is extensively in operation and provides essential information for all international financial institutions. The Directory lists all banks and financial institutions by country, giving details of their specific role and areas of operation.

Uniquely written from inside the banking world this book gives a comprehensive account of the organization and activities of the major central European banks during the 1980s. Each of the individually authored chapters has been written to a common pattern in order to facilitate reference and comparison. Each also contains an annex with a specimen return of the bank in question and brief explanatory notes on the various items.

This and the following volume chart the history of financial institutions in England in the mid-late nineteenth century as well as examining the periods of boom and bust, their causes and effects. Using hitherto unpublished sources from the International Financial Society this book provides an unrivalled record of the development of the modern banking industry.

This is a clear guide to the German financial system. It begins by outlining its historical development, emphasising the growth of close ties between the banking system and industry, and goes on to describe in details the nature of the credit institutions in general and the money and capital markets.

The book emphasizes the crucial role played by the autonomy of the Bundesbank and it explains with clear illustrations the instruments available to it to conduct monetary policy. It analyses the type of monetary target adopted by the Bundesbank in the early 1970s and deals with the transferability of the West German financial system to other countries. Wherever relevant, parallels and differences between that system and the ones operating in the US and UK are pointed out.

This book explores the role of financial co-operative models in promoting and sustaining local development.

Since the 2008 global financial crisis, there has been a great deal of disillusionment with the banking system, as well as a reaffirmation of the importance of a healthy society for the welfare of the individual. This edited volume argues that the crisis has shown the limits of the mainstream theory of markets and rational expectations, and therefore that new and innovative ways of providing finance are be needed, especially when strengthening the development of local societies. The volume assembles an international set of contributors, and combines theoretical contributions on co-operative finance and its role in local development with empirical investigations and case studies of the relationship between financial co-operative models and local development.

This book reviews the Islamic opposition to interest and assesses the feasibility of a non-interest financial system in the light of current economic theory. The Islamic critique of interest is set against a discussion of the methodology of Islamic economics and the opposition to interest within the Judeo-Christian tradition. The range of Islamic non-interest financial contracts is then detailed along with a review of the performance of Islamic banks to date; a model of the allocation of finance within a non-interest system is then presented. Assessment of the issues raised is made within the context of economic literature concerning debt versus equity finance; this includes an examination of banking instability and the business cycle, the determinants of levels of saving and the implications for public finance. The conclusions outline the advantages and disadvantages of a theoretical case for the prohibition of interest, and draws practical lessons for contemporary Western economies.