Although international finance and banking has been the subject of much research and writing, the economic impact of banks on industrial structures and the relations between banking and industry in the twentieth century have remained a relatively unexplored area. This 1991 volume examines and interprets the economic effect of the financing of industry by banks and of the banks' credit intermediation in industrialised economies. Particular attention is given to the interplay of economics and politics, to the connections between bankers and industrialists, and to the significance of interlocking directorships. A special section is devoted to a hitherto wholly neglected problem in economic history: the vital influence of universal banking in small but highly industrialised countries in central Europe and Scandinavia.

Technology failures, data loss, issues with providers of outsourced services, misconduct and mis-selling are just some of the top risks that keep financial firms up at night. In this context effective operational risk management is, simply, a commercial necessity. The management of operational risk, defined by the Basel Accord as arising from failures of processes, people, systems or external events, has developed considerably since its early years. Continued regulatory focus and catastrophic industry events have led to operational risk becoming a crucial topic on senior management's agenda. This book is a practical guide for practitioners which focuses on how to establish effective solutions and avoid common pitfalls. Filled with frameworks, examples and diagrams, this book offers clear advice on key practices including conducting risk assessments, assessing change initiatives, designing key risk indicators, establishing scenario analysis, drafting appetite statements and carrying out risk reporting. Operational Risk Management in Financial Services also features results from polls taken by risk practitioners which provide a snapshot of current practices and allow the reader to benchmark themselves against other firms. This is the essential guide for professionals looking to derive value out of operational risk management, rather than applying a compliance 'tick box' approach.

In light of the periodic malfunctions in important sectors of the finan cial services industry in recent years, such as commercial banking, thrift institutions, and the securities market, numerous proposals have been developed for restructuring the financial system to improve both its safety and efficiency. Among the groups analyzing the performance of the financial system and recommending changes where necessary, has been the Shadow Financial Regulatory Committee. This Committee, which is described in greater detail in Chapter 1, consists of 12 independent banking experts from the academic and practitioner worlds that meet quarterly to analyze current developments in the financial services indus try and to make recommendations for improvements that would be in the public interest. The purpose of the Committee, its members, and a listing of policy statements are included in the Appendix. All but one of the chapters in this volume represent essays by indi vidual members of the Committee on issues discussed by the Committee at recent meetings and that, for the most part, resulted in policy state ments. They basically discuss the reasons for the policy statement adopted and place the issue in perspective. Where appropriate, the rele vant section of the respective policy statement is presented at the begin ning of each chapter. Each essay, however, reflects only the views of the individual author and not necessarily those of other members of the Committee or of the Committee as a whole."

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.

The book contains a comprehensive review of all aspects of credit control: analysis and presentation for a decision; structure; monitoring; and damage limitation. It also has chapters on training, computers and capital adequacy. It recognises that different types of banks will apply the basic principles in ways reflecting their overall strategy and nature of their business. It adapts to these, but stresses strong warnings on certain policies or lack thereof. It is thus prescriptive rather than merely descriptive.

This text comprises a selection of papers that provide state of the art insights into bank performance, risk and firm financing post crisis that were presented at the European Association of University Teachers of Banking and Finance Conference (otherwise known as the Wolpertinger Conference) held at Bangor University, Wales, 2010.

The tremendous growth and expansion of global financial services have produced significant changes in the banking sector worldwide. North America, especially, has experienced far reaching changes due to both global and regional developments. NAFTA (the North American Free Trade Agreement) has had a significant impact on banking in Canada, the United States and Mexico, and will continue to do so. As the principle of national treatment is a vitally important fixture of the accord, governments - federal, state and provincial - in all three nations are now required to open up and level the playing field for financial competitors throughout North America.
This book aims to present, analyse and discuss the evolution, current state and outlook for financial services in North America, with special attention to the banking sector. Authors from all three nations and representing different policy perspectives address the theme within the context of the globalization of trade and financial services; changes in domestic banking and regulatory policies in Canada, Mexico and the United States; and the impact of NAFTA and its financial services provisions on the banking sector of each nation.

No More Hunger, written by William Dudley Pelley in the throes of the Great Depression of the 1930s and revised in 1961, presents an examination of the economic and financial flaws of private capitalism. It then outlines the features of a Christian Commonwealth that would unleash the full productive capability of the nation, with full implementation of human rights for every solitary citizen. During its republication in the sixties, thousands of copies were printed. They were read by those who were protesting the economic and financial inequities of our society, and by those who opposed the nation's untenable and brutal embroilment in the Vietnam War. Mr. Pelley passed on in 1965; nearly half a century has passed since his death. The ideas he put forth, however, are more vital and timely than ever. Peace with economic justice and stability in the nation cannot be realized without an honest and an analytical focus on the flaws of private capitalism and the abuses of the unconstitutional private banking system. No More Hunger offers a guide to addressing the major obstacle to harmony today: the futile attempt to solve the serious problems of the society while at the same time retaining the very economic structural ills that are responsible for the problems in the first place.

Bank regulation in Africa has come to a crossroad. Whilst the transition from Basel I to Basel II was relatively smooth, there was much uncertainty as to the feasibility of the Basel II regulatory codes. In the aftermath of the financial crisis and the failure of Basel II, the industry is looking to the next wave of regulatory change in Basel III with both interest and scepticism. This book focuses on key policy issues during the transition of bank regulation in Africa, from Basel I, to the global financial crisis and collapse of Basel II, progressing towards the new financial regulatory architecture embedded in Basel III. Bank regulators in Africa, and commercial bankers on the continent, are worried about many features of Basel III but their voices seem to have gone unheard. This book reflects on the developments that led to the demise of Basel I and II and introduces the new challenges and opportunities constantly emerging in bank regulatory reform in Africa.

This text comprises a selection of papers that provide state-of-the-art insights into research focusing on dimensions of bank strategy, governance and the role of credit rating agencies that were presented at the European Association of University Teachers of Banking and Finance Conference, September 2010.

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 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 book presents an innovative history of the first Portuguese public bank, by exploring the relationship between banking activities and the political context. It provides an overview of the origins of the banking system in Portugal, and also in Brazil, and explores new archive materials related to the first years of activity of the Bank of Lisbon and to the public debates on monetary and public finance topics. It discusses the main features of the Bank of Lisbon: a private bank with a mandate to issue banknotes for the purposes of regulating monetary circulation, and with the function of financing the State for current payments, as well as for the amortisation of public debt and the creation of new debt. The aim of contributing to the re-establishment of public trust and credit conferred upon the Bank of Lisbon the status of a quasi-central bank with the obligations of lending and issuing money. This historical case study offers new insights for a better understanding of the role of banks on the regulation of monetary circulation and on the management of sovereign debt. By stressing the relevance of the political context, it also illustrates the key issues of trust, independence and rules associated to decision-making processes in the study of European banking history. The main focus is the link between banking practices and the political environment. However, the reader will also engage in discussions on theoretical and economic policy issues on the main economic topics under survey: money, paper money, public debt and credit system.

This book evaluates the salient features of Japanese relation-based banking, particularly in the post war period, and Anglo-American mode of banking to explain the nature and extent of transition failure that caused prolonged financial and economic slump in Japan.

This book examines how credit and finance schemes affect the financial lives of vulnerable people around the world. These schemes include payday lending, matched savings, and financial literacy in the Global North, and micro-credit and mobile banking in the Global South. Buckland sets these schemes within the context of financialization and seeks to identify strengths, weaknesses, and ways to enhance the well-being of vulnerable people. This book's coverage of a wide range of financial products and geographic regions makes for a unique and innovative perspective on this topic. It presents a balanced critique of credit and finance schemes under the assumption that reform is the most practical means to improve human well-being.

Despite the wall of evidence that bank mergers add little or no value, 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 to diligence, IT selection and conversion, people selection, cultural conflict, leadership, and the decision-making time frame. It 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 merger and modest short-term cost savings argues for a new pact between investors and bank management.

Unique selling point: * Industry standard book for merchants, banks, and consulting firms looking to learn more about PCI DSS compliance. Core audience: * Retailers (both physical and electronic), firms who handle credit or debit cards (such as merchant banks and processors), and firms who deliver PCI DSS products and services. Place in the market: * Currently there are no PCI DSS 4.0 books

Financial systems around the world are undergoing a process of modernization due to many different forces. Advances in information technology, product and market innovations, and recent regional financial crises have contributed to this movement. As a result, evolution in the financial sector is leading to larger, more complex financial organizations that render inadequate the supervisory and regulatory structures currently in place. While some changes in regulatory policies have already occurred, the adaptation of supervisory oversight and regulation in the face of these new developments is expected to continue for many years to come. This book collects papers originally presented in September 1998 at the Financial Modernization and Regulation Conference co-sponsored by the Federal Reserve Banks of Atlanta and San Francisco. Revised before publication, the papers seek to identify the reasons for changes in the financial services sector, and the implications these changes pose for financial supervision and regulation. Taken together, the papers offer valuable insights on 1) the forces behind financial modernization; 2) the implications financial modernization poses for corporate structure, market discipline, and financial regulation; 3) how to price deposit insurance accurately to reflect banks' risk-taking; and 4) balancing private versus public interests and managing potentially conflicting public policy goals.

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 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.

Addressed to the management of financial institutions and computer and communications technologists, this book aims to prvide information on the four generations of on-line financial networks which have evolved over the past twenty years in Japan.;The background to the book is electronic banking, and the forward- looking financial industries and the benefits they have achieved.;The author has also recently written "Membership Of The Board Of Directors".

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.