The "Handbook of Asset & Liability Management: From Models to Optimal Return Strategies" is a Comprehensive resource for Asset and Liability Management (ALM) Professionals, providing the very latest global coverage of the topic.

Starting with a look at the history of Asset and Liability Management and the current climate, the book then examines a range of accounting and auditing obligations, including IFRS and balance sheet presentation. Balance sheet items and products modelling are then explained in detail as well as the entire associated range of financial and non-financial risks. As well as the practical issues encountered by ALM managers, the "Handbook of Asset Liability Management" also considers the growing quantitative aspects of the role, looking at a range of technical tools and applications including market simulations, stochastic calculations, delta equivalent computations, and traditional and non-traditional statistical tools.

The book then discusses capital requirements within the ALM context, notably the impacts of Basel II and solvency II and economic capital indicators. The final section of the book explains optimal return strategies, looking at risk perfect hedging, limits policies, income smoothing strategies and economic value management.

The accompanying CD ROM features demonstrations of some basic ALM problems such as ALM Delta Equivalent computation; FTP computation and ALM risk indicators computation. It also includes modelling examples such as demand deposits, savings and prepayment modelling; and practical examples taken from a simplified retail Banking ALM framework.

Banking with Integrity provides rich and in-depth case studies of banks which were doing well during the financial crisis of 2007-2010. While other banks went bankrupt, were nationalized, or struggled for survival some of the featured cases increased market share, attracted more customers and avoided home evictions of their clients.

Much of what we consider modern economics is the work of British journalist and economist Walter Bagehot, one of the first editors of the influential newspaper The Economist and an early proponent of business cycles. Here, he develops his theory of central banking, much of which continues to impact financial thinking today. First published in 1873, this replica of the updated 1910 edition explores the history of London's Lombard Street, from how it came to be the traditional home of banks and moneylenders to how the value of money was determined by the institutions there. Joint stocks, private banking, and the regulation of the banking reserve: Bagehot's discussion of these fundamental economic issues makes this a vital resource for anyone wishing to understand financial history. WALTER BAGEHOT (1826-1877) also wrote The English Constitution (1867), Physics and Politics (1872), and The Postulates of English Political Economy (1885), among other works.

DANNY SCHECHTER, "The News Dissector" has spent decades as a truth teller in the media, with leading media companies and as an independent filmmaker with the award-winning independent company Globalvision. A graduate of Cornell and the London School of Economics, Schechter was a Nieman Fellow at Harvard and a multiple Emmy Award winner at ABC News, where he was among the first to cover the S&L crisis. In 2007, his film IN DEBT WE TRUST was the first to expose Wall Street's connection to subprime loans, predicting the economic crisis that this book investigates. Schechter is a blogger, editor of Mediachannel.org, and author of nine books. He has reported from 53 countries, and lives in Gotham. He owns no derivatives or tranches.

This book explores how the global financial and European sovereign debt crises have forced small-and-medium-sized businesses (SMEs) to reassess and adapt their funding strategies. At the heart of the matter is the worsening access to bank credit for such enterprises. Through this discussion we learn how crucial an understanding of SME-financing is to policy makers, in light of the fact that SMEs dominate the business landscape in Europe and are the main drivers of employment, growth and innovation in the European economy. Contributing chapters present expert analysis and investigate many topics including the problems faced by SMEs in accessing bank credit and the cost of funding and its determinants. Particular attention is also given to how credit-constrained enterprises may reformulate their funding strategies by employing alternative, non-bank, financial resources, and how regulators could support SMEs in broadening and improving their funding opportunities.

A survey of past financial crises, starting with the great banking collapses of the interwar period. The current turmoil has prompted a number of questions regarding both its origins and ways to avoid its repetition. The historical background and the evolving institutional framework of banking and financial systems are at the center of this book.

The 2007-2009 financial crisis has had a worldwide impact on banks and financial systems. It has also brought about major changes in Europe's financial regulatory framework which could lead to financing problems for SMEs. The book explores the restructuring process of banking and financial systems to its impact on the financing of SMEs.

Bridging a gap between economic theory and observed reality, this book examines the most visible central banks, the move to monetary union in Europe, the IMF's new role, the rise of managed market economies, and the elevated importance of central banks. In central banking, attention has often turned to the management of liquidity crises and the attainment of economic stability. In the global economy, the respective market economies are more interconnected, and information regarding crises in one part of the industrialized world is rapidly communicated to other nations, giving the crises themselves a more immediate impact. The Asian debt and liquidity crises of 1997-98 were seen as having an impact on the United States, the European Union countries, and even China. In the effort to attain international stability, the information emanating from central banks at a policy level is crucial. This book aims to depict an ideal central bank for a globally connected country.

Two developments heighten the need for such an operations/policy-based ideal: the lessons learned from the European moves to monetary union and the establishment of the European Central Bank, and the increased awareness of banking problems in Asia during the 1997-98 debt and liquidity crises. This timely work will be of interest to economists, bank officials, government policy makers and political scientists.

The business cycle is a complex phenomenon. On the surface, it involves a multitude of mechanisms, such as oscillations in interest rates, prices, wages, unemployment, output, and spending. But a deeper understanding requires a unifying theory to make these various parts whole. Money, Banking, and the Business Cycle provides a comprehensive framework for analyzing these mechanisms, and offers a robust prescription for reducing financial instability over the long-term. Volume II refutes Keynesian and real business cycle theories and provides policy prescriptions to virtually eliminate the cycle. Simpson offers a detailed analysis of several historical monetary systems around the world and shows the causes and effects of fiat money and fractional-reserve banking, as well as a 100-percent reserve gold standard.

Updated insight into key facts impacting on financial institutions after the financial crisis, highlighting areas of major policy and academic interest. The book includes ten chapters analysing contrasting issues such as intellectual capital, cost efficiency, bank stability, credit risk and business models for the wealth management industry.

When Robert Z. Aliber's" The International Money Game" first appeared in 1973, it was widely acclaimed as the best - and most entertaining - introduction to the arcane mysteries of international finance on the market. The seventh edition of this classic work has again been fully rewritten to take account of the immense changes in the world economy since the previous edition, and includes a new chapter on asset pricing and bubbles.

This book shows how deregulation is transforming the size, structure, and geographic range of U.S. banks, the scope of banking services, and the nature of bank-customer relationships. Over the past two decades the characteristics that had made American banks different from other banks throughout the world--a fragmented geographical structure of the industry, which restricted the scale of banks and their ability to compete with one another, and strict limits on the kinds of products and services commercial banks could offer--virtually have been eliminated. Understanding the origins and persistence of the unique banking regulations that defined U.S. banking for over a century lends an important perspective on the economic and political causes and consequences of the current process of deregulation.

Business finance in less developed economies cannot be analyzed or measured by the approaches utilized in countries, such as the United States and Great Britain, where stock markets can assess worth and channel capital with reasonable accuracy. Most economic theory dealing with business finance has been developed in precisely this latter environment. By bringing together economists from less developed countries with researchers from the United States and Western Europe, these essays break new ground by focusing on the unique problems of capital markets in the developing world. The problems of organizing securities markets and such capital market institutions as mutual funds are examined. The sources of financial capital and the interaction of state credit policies and the investment decisions and practices of the private sector are also analyzed. Together these essays provide developmental and business economists with provocative questions and will be of concern to all involved with economic growth in the less developed world.

How do bank supervisors strike a balance between market self-regulation and pro-active regulatory intervention? This book investigates the choice of banking supervision approach in four European Union member states from Central and Eastern Europe - Bulgaria, Estonia, Hungary, and Slovenia - after their transition to democracy and market economy.

As Ignazio Visco, Governor of the Bank of Italy, says in his Foreword, all economic policy makers today need to re-examine our history to help them confront the challenges of today. This edited volume focuses specifically on the theme of financial innovation and how financial resiliency was achieved in Naples. To highlight both the achievements of the public banks of Naples and their lessons for financial resiliency, the book focuses on financial crises and how they were overcome in Naples in contrast to other European financial systems. The first section focuses on the development of the public banks unique to Naples. The second section compares those with other banking systems and how they responded to the same shock in 1622, caused by the full mobilization of European belligerents to finance their efforts in the Thirty Years War. The next section compares lessons learned in the rest of Europe over the next century and a half. The final section comes back to original start of the narrative arc to suggest ways that today's policymakers and thinkers could use the historical experience of the public banks of Naples to deal better with the ongoing problems stemming from the financial crisis of 2007-08.

The Chinese financial sector, despite having been developed at a much later stage compared with other developed nations, has achieved substantial progresses over the past decades. By the end of 2014, a total of 16 commercial banks had been listed on the stock exchanges, exerting strong impact onto the market indices and contributing significantly to the country's sustained economic growth. This book reviews the evolution of the Chinese financial system, examining the effectiveness of reform strategies made by the government over the last ten years. The first chapter offers a comprehensive review of the development of the Chinese banking sector and the state-owned banks (SOBs). The second chapter focuses on the efficiency of the Chinese banking sector. Employing data envelopment analysis (DEA) and stochastic frontier analysis (SFA), the author tests the change of efficiency within the Chinese banking sector over the past decade. It also looks at the strategy adopted by the Chinese government as the final attempt in reforming its troublesome SOBs and the effectiveness of such a reform strategy. The next chapter examines the corporate governance practise of the Chinese commercial banks, and the author follows by investigating the effect of the 2007 US credit crunch on Chinese banks and the country's wider economy. Other chapters survey the influence of foreign entry to the Chinese domestic banking sector, and the development of shadow banking in China. The author concludes by discussing the role of the central bank, namely the People's Bank of China (PBOC), and its role in implementing effective policies to promote economic growth.

Jane D'Arista is one of those towering figures who thinks way ahead of the conventional understandings. A generation ago she recognized the distorted architecture of finance and banking and described in lucid detail the reform agenda for restoring a stable and equitable system. Written in the tradition of D'Arista, the essays in this important collection point the way toward overcoming the recurrent financial disorders of our gilded age. Like Jane D Arista s work, this timely volume demands the attention of both policy experts and the politicians who must do the reconstruction.' - William Greider, author of Secrets of the Temple: How the Federal Reserve Runs the CountryThe many forces that led to the economic crisis of 2008 were in fact identified, analyzed and warned against for many years before the crisis by economist Jane D'Arista, among others. Now, writing in the tradition of D'Arista's extensive work, the internationally renowned contributors to this thought-provoking book discuss research carried out on various indicators of the crisis and illustrate how these perspectives can contribute to productive thinking on monetary and financial policies. Topics addressed include monetary policy, financial markets, financial history, liquidity, institutions and global finance, with an emphasis on the ways in which theory and policy can be applied toward the goal of a more equitable and civilized society. The book s contributors hail from across the globe and offer a range of both academic and policy-making perspectives. This fascinating book will appeal to students and scholars of economics, particularly those with an interest in international finance and banking, financial regulation, and political economy. Contributors: R.A. Blecker, P. Bond, J. Crotty, G.A. Dymski, G.A. Epstein, K. Erturk, J.K. Galbraith, R.N. McCauley, P. Mehrling, D.H. Nielson, G. OEzgur, T. Palley, E. Perez Caldentey, C. Rada, E.D. Russell, T. Schlesinger, M. Seccareccia, L. Taylor, M. Vernengo, R.H. Wade, M.H. Wolfson

Based upon a major research project and a high level of access to relevant individuals this is the first book that opens the door on the closed and guarded world of Japanese banking. The book discusses in first-hand terms the nature of the bank's relationships to its client firms, to members of its 'group' and to 'outsiders'; placing these relationships within a competitive strategy which the book sets forth in an original framework, the Relational Access Paradigm.

This book assesses the performance of banks in India over the past several decades, and discusses their current status after fifty years of nationalization. The performance of different categories of banks is evaluated by employing both the traditional ratio analysis and more sophisticated efficiency techniques. The book also explores the market conditions under which Indian banks operate. Going beyond a formal banking study, the book also investigates the causes of the widespread presence of informal credit in parallel to its formal banking counterpart. This approach makes it more comprehensive, unique and closer to the real world. After 50 years of nationalization, India's banking sector is at a crossroads, given the huge and unabated non-performing assets and talks of consolidation. This book, encompassing both the formal and the predominantly 'trust-based' informal credit system, provides essential insights for bankers and policymakers, which will be invaluable in their endeavours to implement meaningful changes. It may also spark new research in the fields of banking performance and efficiency analysis. Lastly, the book not only has significant implications for students of economics, banking, finance and management, but also offers an important resource to support training courses for banking personnel in India.

This book is a study of the objectives of Islamic Finance in the modern banking space and offers insight into the effects of changes and developments occurring in Islamic banking products and services.

As the real economy is increasingly digitalized, banking lags behind. It is thus not well placed to support the new economy. The book provides some perspective on the changes taking place, identifying the systemic weaknesses in the traditional financial infrastructure, and proposing some radical rethinking to address systemic financial instability.

Despite the wall of evidence that bank mergers add little or no value, yet investors and management continue to fuel the consolidation wave. This book draws on the actual experience of senior executives in over 30 banks with extensive merger experience to demonstrate how most mergers do in fact fail to meet objectives. It explores in detail the issues of strategic positioning, cost and revenue synergies, due diligence, IT selection and conversion, people selection, cultural conflict, leadership, and the decision making time frame. The book concludes that experienced and determined leadership, significant net cost savings, swift decision making and the cost of IT integration are key variables for success. It also suggests that the prospect of more cross border mergers and modest short term cost savings argues for a new pact between investors and bank management.