Other publications that exist on this topic, are mainly focused on the general aspects and methodologies of the field and do not refer extensively to bank ALM. On the other hand the existing books on goal programming techniques do not involve the ALM problem and more specifically the bank ALM one. Therefore, there is a lack in the existing literature of a comprehensive text book that combines both the concepts of bank ALM and goal programming techniques and illustrates the contribution of goal programming techniques to bank ALM. This is the major contributing feature of this book and its distinguishing characteristic as opposed to the existing literature.

This volume would be suitable for academics and practitioners in operations research, management scientists, financial managers, bank managers, economists and risk analysts. The book can also be used as a textbook for graduate courses of asset liability management, financial risk management and banking risks.

Community banking can flourish in the face of fintech and global competition with a fresh approach to strategy Bankruption + Website offers a survival guide for community banks and credit unions searching for relevance amidst immense global competition and fintech startups. Author John Waupsh is the Chief Innovation Officer at Kasasa, where he helps spearhead financial product development and implementation across hundreds of institutions. In this guide, he draws on more than a decade in the industry to offer clear, practical advice for competing with the megabanks, direct banks, non-banks, and financial technology companies. The discussion separates futurist thinking from today's realities, and dispels common myths surrounding the U.S. community banking model in order to shed light on the real challenges facing community banking institutions. It follows with clear solutions, proven strategies, and insight from experts across banking and fintech. All arguments are backed by massive amounts of data, and the companion website provides presentation-ready visualizations to help you kickstart change within your team. In the U.S. and around the globe, fintech companies and non-banks alike are creating streams of banking services that are interesting, elegant, and refreshing and they're winning the hearts and minds of early adopters. Not a one-size-fits-all approach, this book offers many different tactics for community banks and credit unions to compete and flourish in the new world. * Analyze fintech's threat to the community banking model * Learn where community banking must improve to compete * Disprove the myths to uncover the real challenges banks face * Adopt proven strategies to bring your organization into the future Community banks and credit unions were once the go-to institutions for local relationship banking, but their asset share has been on the decline for three decades as the big banks just got bigger. Now, fintech companies are exploiting inefficiencies in the traditional banking model to streamline service and draw even more market share, as community banking executives are left at a loss for fresh tactics and forward-looking strategy. Bankruption + Website shows how community banks can be saved, and provides a proven path to success.

This book presents the theoretical framework for the evolution of the international monetary system and the internationalization of the RMB. Combining theoretical research and empirical study, it then provides an in-depth analysis of the relevant issues from multiple perspectives based on this framework. Written by former chief economist at the Bank of China, this book explains the "two-step strategy" from the capital account opening to the full convertibility of the RMB, it also analyzes the status and functions of the HK offshore financial market in internationalizing the RMB.

Arnaboldi highlights the importance of one of the three pillars of the Banking Union, the common mechanism for insuring deposits. She claims that integrated financial markets require a European solution with regard to deposit insurance and that the establishment of a pan-European scheme could address the problems for large cross-border banks.

This book analyzes the banking crisis and the events surrounding it in Hungary and other emerging EU member countries in 2007-2013. Written by Julia Kiraly, a former policymaker, and the Deputy Governor of the Hungarian Central Bank at the time of the crisis, it also offers a firsthand account of the processes in and responses to the financial crisis. While there is extensive literature on the crisis, most of it focuses on the US or the Eurozone, sometimes mentioning the "emerging world" in passing. However, Central and Eastern Europe experienced the crisis very differently than other emerging countries. In the pre-crisis years, the region in accession to the EU attracted abundant fresh capital, but the seemingly unconstrained global liquidity fuelled credit bubbles. After the Lehman crisis, capital rapidly fled these countries. In this part of the world, the recession proved to be much worse than elsewhere, with double-digit growth soon turning into a double-digit decline in GDP. Several countries had to turn to the IMF and the EU for stand-by credit. Based on her own inside experience as a top central banker, the author offers a personal yet professional analysis of the causes and consequences of the financial hurricane.

The S&L crisis of the 1990s has given many a reason to review the events which led to a (in many ways) similar banking crisis sixty years ago, and the subsequent legislation of the Emergency Banking Act, the Banking Act of 1933, the Banking Act of 1935, and other related legislation. The reconstituted financial structure produced the longest period of financial stability in the US history, lasting one-half of a century. The book has two goals: provide an understanding of the reasons the banking reforms enacted in the 1930s were so successful; and present a set of policy proposals which offer the institutional provisions for both the financing of the capital development of the economy, and a safe payments system.

This book examines US-Swiss relations in the context of Swiss banking secrecy and Holocaust related claims from World War II until the end of the 1990s. During World War II, Switzerland had been purchasing Reichsbank's gold and safeguarded the assets of the victims of Nazi Germany. This deeply impacted US-Swiss relations in the 1990s, and fueled a major conflict over dormant accounts and heirless assets of Holocaust victims. The US pressured Switzerland for Holocaust restitution using economic sanctions and a negative PR campaign. This culminated in a billion-dollar settlement, a reevaluation of wartime history by the Swiss, and a blow to Switzerland's international image. This book analyzes US policy towards Switzerland as a case of projection of US economic, as opposed to military power.

As the financial crisis engulfs the world economy, there is an ambitous agenda for regulatory reform. This book provides a comprehensive review of the analysis of finance, economics and the law and economics, illuminating past and current banking and financial regulation designed to prevent another credit/dollar crisis and global recession.

This book addresses the puzzle of why the World Bank was unable to effect sweeping neoliberal health reforms in Latin America from the 1980s onward. Through the use of quantitative regional data together with interview and archival data collected during fieldwork in Argentina, Costa Rica, Peru, and Washington DC, this book argues that the answer to this puzzle is twofold. First, the World Bank has not promoted a uniformly neoliberal, monolithic agenda in health. Second, countries' autonomy and capacity in this sector shape how the World Bank is involved in reforms. Finally, the book distinguishes neoliberal ends from means in health sector reform and traces changes in "banking on health" over time.

This volume is a collection of scholarly and practical chapters prepared by experts in the field of banking law. Important changes are taking place in the financial sectors of the Pacific Rim, with vital roles being played by Tokyo, Hong Kong, Singapore and Taipei. The volume deals with the relevant legal questions regarding the changing international financial practices. Designed as a broad foundation for comparative analysis of changes and reforms occurring worldwide in international banking regulation and practice, it should be helpful for understanding both policies and practicalities reflected by these rapid changes and reforms. A separate but related companion volume on international banking regulation and supervision, entitled "International Banking Regulation and Supervision: Change and Transformation in the 1990s" is also available, ISBN 1-85333-989-9, dealing with the broad policy issues entailed in the liberalization and deregulation of the banking industry.

The existence of fiat currencies has long been cited as one of the major contributing factors to the challenges facing contemporary economies, and the current monetary system is not only a key source of exorable increases in interest rates but also a principal cause of inflation and decline in the value of money in many countries. The editors argue that an Islamic monetary system, with its specific money concepts, interest-free financial institutions, and monetary policy embedded in real growth, provides a solution to this conundrum. Contributions from many world-renowned experts consider a wide array of topics, ranging from the theoretical concepts of money and banking in conventional and Islamic economics to the historical journey of money from precious metals to plastic money and digital currency today. The book outlines the problems that sprout from interest-based banking and multiple debt structures. It then mirrors the Islamic concepts of money as well as idiosyncrasies of its monetary policy. Supported with meticulous research and empirical evidence, the book demonstrates the efficacy of Islamic monetary system in delivering real growth along with equitable distribution of wealth and prosperity in the economy. It additionally acquaints the readers with juristic debates about money and monetary policy. This is essential reading for both students and researchers in Islamic economics, banking, and finance, expertly promoting a fair and just economic system that emerges as a result of interest-free banking and monetary policy based on Islamic principles.

This book reveals the surprising role that credit, money created ex nihilo by financiers, played in raising the British government's war loans between 1793 and 1815. Using often overlooked contemporary objections to the National Debt a startling paradox is revealed as it is shown how the government's ostensible creditors had, in fact, very little "real" money to lend and were instead often reliant for their own solvency upon the very government they were lending to. By following the careers of unsuccessful loan-contractors, who went bankrupt lending to the government, to the triumphant career of the House of Rothschild; who successfully "exported" the British system of war-financing abroad with the coming of peace, the symbiotic relationship that existed between the British government and their ostensible creditors is revealed. Also highlighted is the power granted to the (technically bankrupt) Bank of England over credit and the money supply, an unprecedented and highly influential development that filled many contemporaries with horror. This is a tale of bankruptcy, stock market manipulation, bribery and institutional corruption that continues to exert its influence today and will be of interest to anyone interested in government financing, debt and the origins of modern finance.

This book exemplifies the potential of FinTech to deliver important economic and societal gains, such as enhancing competition and financial inclusion to deliver tailored financial products and services at more affordable prices and at greater convenience. The emergence of FinTech directly challenges the business models of incumbent financial intermediaries like banks, which are adapting by developing their own FinTech offerings and partnering with FinTech and large technology firms. FinTech also constitutes both known and unknown risks to financial stability and challenges regulators to evaluate whether existing regulations are sufficient. The emergence of FinTech as a global phenomenon requires insightful cross-country analysis and different perspectives to evaluate its development and associated opportunities and challenges. This book will be of interest to practitioners, regulators and students of this essential enabling technology that is a major component of the Fourth Industrial Revolution.

The book makes an effort in investigating the present and future developments in the financial system, after the COVID-19 Pandemic. The effects of health issues and epidemic diseases influencing the country economies and expected to influence to effect in the future in terms of banking sector especially Central Banking will be discussed. People who take this work will be able to look at events from different windows about money, banking, Central Banks, historical transformation of the banking sector and the relations among the entire financial system and policy makers and also their current issues.

Handbook of Frontier Markets: The European and African Evidence provides novel insights from academic perspectives about the behavior of investors and prices in several frontier markets. It explores finance issues usually reserved for developed and emerging markets in order to gauge whether these issues are relevant and how they manifest themselves in frontier markets. Frontier markets have now become a popular investment class among institutional investors internationally, with major financial services providers establishing index-benchmarks for this market-category. The anticipation for frontier markets is optimistic uncertainty, and many people believe that, given their growth rates, these markets will be economic success stories. Irrespective of their degrees of success, The Handbook of Frontier Markets can help ensure that the increasing international investment diverted to them will aid in their greater integration within the global financial system.

Smuggling people into industrialized countries has become a growing industry globally, and Chinese human smuggling represents a significant source of illegal immigration. The financing of the illegal immigration process, however, is a vastly under explored area. This book provides an in-depth understanding of the relationship between informal financial systems, illegal migration and human smuggling, tracing a trajectory of the evolution of Chinese underground banks in the US over the past two decades. With a focus on a border-spanning informal financial system from the perspective of their clients, this book elicits firsthand information from an extremely understudied population illustrating the motivation, patterns, and tendencies of their use of illegal fund transfer systems. Through extensive ethnographic fieldwork, this study illuminates the varied experiences of the undocumented Chinese immigrant population, providing revealing insights into the financial element of the migration and settlement process. Alongside discussion of policy implications for law enforcement in the US and China, Zhao explores whether Chinese underground banks represent a key mechanism in the larger social problem of illegal migration aided through human smuggling. Moreover, the book addresses the important question: is the Chinese underground banking system an integral part of organized crime, or is it a new type of ethnic-specific illegal enterprise?

Due to a historical lack of attention to the importance of modelling, measuring and managing risk, senior bank leaders are struggling to implement unified practices within their financial institutions that could address the gaps posed by risky management behaviour, rogue trading, liquidity crises, prohibited investments in mortgage-backed securities, and default risks aligned with loans. This book discusses the theories at play between bank agents (bank managers) and their principals (shareholders), a topic which has gained importance as a result of the banking crisis, and similarly, governed the need for more efficient risk management and ethical managerial practices. The author worked with a senior bank leadership team to identify and describe effective capital regulation practices that can lead to a reduction in loss and risky management behavioural practices. The book offers consensus on a number of activities that bank managers can implement to address bank risk. It analyses the relevant factors that determine the necessity for banking regulation and the important role of regulation in managing banking crises. The author's analysis of the important regulatory aspects in developed countries such as the US, offers a useful conceptual framework for creating an adequate banking regulatory environment in developing countries. This book offers an original contribution to the field of banking that undergraduate, masters, PhD students, academics and researchers can use to gain a deeper understanding of the constructs at play in the banking industry.

There are many books written for the accounting and finance community. However, there are very few books written to help the non-financial career professionals who still need to understand the conceptual fundamentals of accounting and finance. In 20 years of teaching this material to non-financial professionals, Dr. Bonner has perfected a teaching approach that works to help the non-financial professional engage with the material to use financial information in leveraging their career without becoming overloaded with information that is not helpful to them. Learning this material takes repetition, application, and building the thinking processes necessary for effectiveness. Many think the challenge with finance is the math, but as this book will demonstrate, it is a conceptual problem. If you understand the conceptual framework, you will understand the math. Dr. Julie Bonner is currently a tenured professor at Central Washington University in the information technology and administrative management department. Her career has spanned business and education for over 30 years. Initially, she received a Bachelor of Science degree in accounting, whereafter she earned an MBA and then a doctorate in organizational leadership.

Beenhakker offers a comprehensive examination of all aspects of risk management--from financial structures and techniques through the development of efficient portfolios and decisions that will minimize investment risks and taxes. The result is a multifaceted approach to risk management, one that advances new theory and involves interaction among various disciplines. Beenhakker takes special care to point out the assumptions underlying developments in risk situations, and his book not only is self-contained in one volume, but also assumes no prior knowledge of the various disciplines upon which it is based and from which it draws its ideas. Professionals with investment responsibilities in both the public and private sectors will find a variety of new concepts explained clearly and simply. Their colleagues in the academic community and students will find the book to be a unique bridge between theory and practice.

Covering the years 1971-89 the book presents the first substantial analysis of the enormous international expansion of Japanese banks. It is therefore an invaluable source of information for academics and businessmen alike. The focus on their presence in Europe and the assessment of implications after 1992 is a perspective never applied before. Two-and-a-half years of research in London, Frankfurt and Tokyo have resulted in the development of a systematic approach to identify the key pressures shaping their strategies.

The Grameen Bank of Bangladesh has successfully lent small sums to poor women for income generation. This empirical study examines the programme's long-term influence and argues that credit alone can create fundamental change, even in an environment distinctly hostile to women's autonomy.

This volume narrates the financial history of the United States during a period of great upheaval in the early part of the 21st century. It is divided into three chronological sections: the first section describes the recovery of financial markets after the Great Recession. It begins with an overview of the state of the economy at the start of the new decade, including some of the political storms affecting the economy and financial markets. It explores the uneven nature of the recovery and volatility in the Treasury during these years. The second section sets forth regulatory responses to the Financial Crisis of 2008, including the massive fines imposed on large banks by a swarm of regulators. It examines the "too big to jail" prosecution model, cases involving Libor and foreign exchange manipulation and the impact of rogue traders. It also looks at the developments in payment systems, rise of crowdfunding as a source of capital, and high-frequency trading. The third section describes the rules adopted under the Dodd-Frank Act of 2010 that broadly affected financial markets. It also recounts the Trump trade wars and ends with an account of the financial and economic turmoil that occurred during the Covid-19 pandemic in 2020. The volume will be an essential addition to academic and public libraries with readers drawn from business schools, departments of economics and finance, and historians.

Smart Card Security: Applications, Attacks, and Countermeasures provides an overview of smart card technology and explores different security attacks and countermeasures associated with it. It covers the origin of smart cards, types of smart cards, and how they work. It discusses security attacks associated with hardware, software, data, and users that are a part of smart card-based systems. The book starts with an introduction to the concept of smart cards and continues with a discussion of the different types of smart cards in use today, including various aspects regarding their configuration, underlying operating system, and usage. It then discusses different hardware- and software-level security attacks in smart card-based systems and applications and the appropriate countermeasures for these security attacks. It then investigates the security attacks on confidentiality, integrity, and availability of data in smart card-based systems and applications, including unauthorized remote monitoring, communication protocol exploitation, denial of service (DoS) attacks, and so forth, and presents the possible countermeasures for these attacks. The book continues with a focus on the security attacks against remote user authentication mechanisms in smart card-based applications and proposes a possible countermeasure for these attacks. Then it covers different communication standards for smart card-based applications and discusses the role of smart cards in various application areas as well as various open-source tools for the development and maintenance of smart card-based systems and applications. The final chapter explains the role of blockchain technology for securing smart card-based transactions and quantum cryptography for designing secure smart card-based algorithms. Smart Card Security: Applications, Attacks, and Countermeasures provides you with a broad overview of smart card technology and its various applications.

In the wake of the drastic changes that have occurred in the world banking industry over the past two decades, Professor Canals's new book addresses several important questions: are universal banks bound to disappear? What is the role of universal banks and financial markets in the context of deregulation and disintermediation? What should banks' strategic reactions be to changes in the industry such as diversification, internationalization, and restructuring? And what role do banks play vis a vis modern financial markets? Canals draws on up-to-date case studies from Europe, Japan, and the US to provide a provocative reassessment of universal banking.