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Book
xi, 273 pages ; 24 cm.
Law Library (Crown)
Book
viii, 156 pages ; 24 cm.
  • Origins of the National Bank Act and national currency / Peter Huntoon
  • National bank notes and the practical limits of nationalization / Franklin Noll
  • Charter no. 1 : first among national banks / Marianne Babal
  • E.T. Wilson and the banks : a case study in government regulation and service / Paula Petrik
  • Stabilizing the national banking system, 1864-1913 : the role of bank examination / Eugene N. White
  • Founding the fourth branch : the office of the comptroller of the currency / Jesse Stiller
  • National bank preemption and the financial crisis of 2008 / Raymond Natter
  • The measure of a regulator : the office of thrift supervision, 1989-2011 / Paula Dejmek Woods.
The passage of the National Currency Act of 1863 gave the United States its first uniform paper money, its first nationally chartered and supervised commercial banks, and its first modern regulatory agency: the Office of the Comptroller of the Currency. The law marked a milestone in the development of the U.S. financial system and the modern administrative state. Yet its importance has been largely overlooked. Banking Modern America aims to address that gap. With its unique multidisciplinary approach that brings together scholars from disciplines including history, economics, the law, and finance, this book lends a new dimension to studying the origins and development of a system that touched key aspects of modern America. Chapters examine key episodes in the history of Federal banking, looking at the Civil War origins of the national banking system and the practical challenges of setting up a new system of money and banking. The essays in this volume explore the tensions that arose between bankers and Federal regulators, between governmental jurisdictions, and even between regulators themselves. This book will be essential reading for academics of banking and finance, regulation, numismatics and history, as well as professional economists, historians and policy makers interested in the history of the US financial system.
(source: Nielsen Book Data)9781138213807 20161219
Law Library (Crown)
Book
xvii, 291 pages : illustrations ; 24 cm
  • Preface ix Introduction xv Additional Thanks xvii Chapter 1: An Overview of the Bankruption 1 Chapter 2: Community Banking Is Broken 7 Chapter 3: The Opportunity for Community Financial Institutions 75 Chapter 4: Advice from Others 157 Chapter 5: Finishing Move 257 About the Author 269 About the Companion Website 271 Index 273.
  • (source: Nielsen Book Data)9781119273851 20170206
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.
(source: Nielsen Book Data)9781119273851 20170206
Law Library (Crown)

4. Corporate finance [2017]

Book
xxxii, 1136 pages : illustrations ; 26 cm.
  • PART 1: INTRODUCTION 1. The Corporation 2. Introduction to Financial Statement Analysis 3. Financial Decision Making and the Law of One Price PART 2: TIME, MONEY, AND INTEREST RATES 4. The Time Value of Money 5. Interest Rates 6. Valuing Bonds PART 3: VALUING PROJECTS AND FIRMS 7. Investment Decision Rules 8. Fundamentals of Capital Budgeting 9. Valuing Stocks PART 4: RISK AND RETURN 10. Capital Markets and the Pricing of Risk 11. Optimal Portfolio Choice and the Capital Asset Pricing Model 12. Estimating the Cost of Capital 13. Investor Behavior and Capital Market Efficiency PART 5: CAPITAL STRUCTURE 14. Capital Structure in a Perfect Market 15. Debt and Taxes 16. Financial Distress, Managerial Incentives, and Information 17. Payout Policy PART 6: ADVANCED VALUATION 18. Capital Budgeting and Valuation with Leverage 19. Valuation and Financial Modeling: A Case Study PART 7: OPTIONS 20. Financial Options 21. Option Valuation 22. Real Options PART 8: LONG-TERM FINANCING 23. Raising Equity Capital 24. Debt Financing 25. Leasing PART 9: SHORT-TERM FINANCING 26. Working Capital Management 27. Short-Term Financial Planning PART 10: SPECIAL TOPICS 28. Mergers and Acquisitions 29. Corporate Governance 30. Risk Management 31. International Corporate Finance.
  • (source: Nielsen Book Data)9780134083278 20161024
"For MBA/graduate students taking a course in corporate finance." An Emphasis on Core Financial Principles to Elevate Individuals Financial Decision Making Berk and DeMarzo's "Corporate Finance" uses a unifying valuation framework, the Law Of One Price, to present the core content instructors expect, the new ideas they want, and the pedagogy their students need to succeed. " " "Corporate Finance: The Core "fits programs and individual professors who desire a streamlined book that is specifically tailored to the topics covered in the first one-semester course. For programs and professors who would like to use a text in a two semester, or more, sequence, please see "Corporate Finance, " the 31-chapter book also by Jonathan Berk and Peter DeMarzo. Also Available with MyFinanceLab MyFinanceLab is an online homework, tutorial, and assessment program designed to work with this text to engage students and improve results. Within its structured environment, students practice what they learn, test their understanding, and pursue a personalized study plan that helps them better absorb course material and understand difficult concepts. Note: You are purchasing a standalone product; MyFinanceLab does not come packaged with this content. Students, if interested in purchasing this title with MyFinanceLab, ask your instructor for the correct package ISBN and Course ID. Instructors, contact your Pearson representative for more information. If you would like to purchase both the physical text and MyFinanceLab, search for: 0134409272 / 9780134409276 "Corporate Finance: The Core Plus MyFinanceLab with Pearson eText -- Access Card Package" Package consists of: 0134202643 / 9780134202648 "Corporate Finance: The Core" 0134202910 / 9780134202914 "MyFinanceLab with Pearson eText -- Access Card -- for Corporate Finance: The Core" ".
(source: Nielsen Book Data)9780134202648 20161024
For MBA/graduate students taking a course in corporate finance. An Emphasis on Core Financial Principles to Elevate Individuals' Financial Decision Making Using the unifying valuation framework based on the Law of One Price, top researchers Jonathan Berk and Peter DeMarzo have set the new canon for corporate finance textbooks. Corporate Finance blends coverage of time-tested principles and the latest advancements with the practical perspective of the financial manager, so students have the knowledge and tools they need to make sound financial decisions in their careers. For a streamlined book specifically tailored to the topics covered in the first one-semester course, Corporate Finance: The Core is also available by Jonathan Berk and Peter DeMarzo. Note: You are purchasing a standalone product; MyFinanceLabTM does not come packaged with this content. Students, if interested in purchasing this title with MyFinanceLab, ask your instructor for the correct package ISBN and Course ID. Instructors, contact your Pearson representative for more information. If you would like to purchase both the physical text and MyFinanceLab, search for: 0134408896 / 9780134408897 Corporate Finance Plus MyFinanceLab with Pearson eText -- Access Card Package Package consists of: *013408327X / 9780134083278 Corporate Finance*0134099176 / 9780134099170 MyFinanceLab with Pearson eText -- Access Card -- for Corporate Finance.
(source: Nielsen Book Data)9780134083278 20161024
Law Library (Crown)
LAW-1011-01
Book
xii, 189 pages ; 24 cm.
  • Introduction to hedge fund compliance
  • Introduction to hedge fund regulation and examination
  • The chief compliance officer and regulatory reporting
  • In-house compliance professionals and hedge fund committees
  • Hedge fund compliance technology
  • Compliance consultants and other compliance-related service providers
  • Understanding key compliance documentation
  • Investor evaluation of hedge fund compliance functions
  • Case studies and example scenarios in hedge fund compliance
  • Common compliance pitfalls and how to avoid them
  • Interviews with compliance service providers
  • Trends and future developments.
Law Library (Crown)
Book
xi, 209 pages ; 24 cm.
  • Gerald D. Feldman : an appreciation / Jeffrey Fear
  • Starting from scratch? : the beginnings of Banca Commerciale Italiana, 1893-1894 / Peter Hertner
  • Jewish financiers in the city of London : reality and rhetoric, 1830-1914 / Randal Michie
  • The financial culture of the Habsburg monarchy at the end of the 19th century / Hubert Bonin
  • French banks and public opinion : the public's negative perception of the French banking establishment (from the 1800s to the 1950s) / Hubert Bonin
  • 'Many a slip between cup and lip' : initiating Austrian stabilisation, 1922-1923 / P.L. Cottrell
  • Why were there no investment trusts in Germany? : an analysis of an anomaly in the german financial industry from 1870 to 1957 / Martin L. Müller
  • Comradery, the joys of work, and the struggle to improve performance : Creditanstalt-Bankverein's corporate newspaper Gemeinschaft, 1939-1943 / Ulrike Zimmerl
  • A non-neutral, non- belligerent country : portugal during World War II from a financial viewpoint / Nuno Valério.
Globalization is not an external force but a result of concrete business decisions made by millions of entrepreneurs and managers across the world. As such, the modern corporation has completely altered the economic landscape; business and finance have shaped the international order of the modern world. History of Financial Institutions contributes to the analysis of how the modern corporation, business and finance have shaped and keep on shaping our world. In a collection of nine succinct essays, this volume looks at the role of finance in European history from the beginning of the 19th century to the period after the Second World War. Archivists and financial historians, who are also leading scholars of banking and financial history, investigate the ways in which the international post-war order developed. They draw on often hitherto unused archival sources from central banks and other institutions to reveal the unique histories of a variety of European countries and the paths that have led to the contemporary economic and financial system. The collection includes reflections on (monetary) stabilization, inflation, hyperinflation, globalization and public relations in banking and commerce. This book is essential reading for banking and finance executives, as well as policy makers with a historical interest. It will also be of importance to academics with a particular interest in economic history, financial or banking history, and European history.
(source: Nielsen Book Data)9781138666511 20170123
Law Library (Crown)
Book
xx, 436 pages ; 26 cm.
  • The credit crisis as a problem in the sociology of knowledge / Donald MacKenzie
  • What's in a name? : Provident, The People's Bank and the regulation of brand identity / Liz McFall
  • Reflexivity of shadow banking / Benjamin Wilhelm
  • Interrogating the crisis : financial instruments, public policy and corporate governance / Hugh Willmott
  • Reconceptualizing financial innovation : frame, conjecture and bricolage / Ewald Engelen, Ismail Ertürk, Julie Froud, Adam Leaver and Karel Williams
  • Europe's toxic twins : government debt in financialized times / Daniela Gabor and Cornel Ban
  • Variegated geographies of finance : international financial centres and the (re)production of financial working cultures / Sarah Hall
  • The boundaries of finance as zones of conflict / Sabine Montagne
  • The new behemoth? : the ECB and the financial supervision reforms during the Eurozone crisis / Clément Fontan
  • Varieties of capitalism and banking in the EU / Iain Hardie
  • The financialisation of local governments : evidence from the Italian case / Andrea Lagna
  • Libor and Euribor : from normal banking practice to manipulation to the potential for reform / Daniel Seabra Lopes
  • Hedge funds : past and present /rPhotis Lysandrou
  • Offshore financial centres and tax evasion in banking / Silke Ötsch and Michaela Schmidt
  • Post-crisis bank regulation and financialized bank business models / Ian Crowther and Ismail Ertürk
  • Financial market regulation : still a regime removed from politics? / Nicholas Dorn
  • Prudential regulation in the age of internal models / José Gabilondo
  • Defences against systemic risk : a greater role and responsibility for bank lawyers? : judgement-based bank supervision / Joanna Gray and Peter Metzing
  • Shattering Glass-Steagall : the power of financial industries / Paul M. Hirsch, Jo-Ellen Pozner, and Mary Katherine Stimmler
  • How finance globalized : a tale of two cities / Gary A. Dymski and Annina Kaltenbrunner
  • How the American financial meltdown of 2008 caused the global financial crisis / Neil Fligstein and Jacob Habinek
  • Reforming the culture of banking / Grahame Thompson
  • Consumer finance and the social dimension of banks in a global economy / Toni Williams.
The Routledge Companion to Banking Regulation and Reform provides a prestigious cutting edge international reference work offering students, researchers and policy makers a comprehensive guide to the paradigm shift in banking studies since the historic financial crisis in 2007. The transformation in banking over the last two decades has not been authoritatively and critically analysed by the mainstream academic literature. This unique collection brings together a multi-disciplinary group of leading authorities in the field to analyse and investigate post-crisis regulation and reform. Representing the wide spectrum of non-mainstream economics and finance, topics range widely from financial innovation to misconduct in banking, varieties of Eurozone banking to reforming dysfunctional global banking as well as topical issues such as off-shore financial centres, Libor fixing, corporate governance and the Dodd-Frank Act. Bringing together an authoritative range of international experts and perspectives, this invaluable body of heterodox research work provides a comprehensive compendium for researchers and academics of banking and finance as well as regulators and policy makers concerned with the global impact of financial institutions.
(source: Nielsen Book Data)9780415855938 20170206
Law Library (Crown)
Book
xi, 188 pages : maps, charts ; 24 cm.
  • Origin and purposes of the second bank
  • The second bank's branch network and the state banking system
  • The second bank and the "exchanges" : conquering space
  • The "production" of monetary stability
  • The second bank's specie market operations.
The year 2016 marks the 200th anniversary of the founding of the Second Bank of the United States (1816-1836). This book is an economic history of an early central bank, the Second Bank of the United States (1816-36). After US President Andrew Jackson vetoed the re-chartering of the Bank in 1832, the US would go without a central bank for the rest of the nineteenth century, unlike Europe and England. This book takes a fresh look at the role and legacy of the Second Bank. The Second Bank of the United States shows how the Bank developed a business model that allowed it to make a competitive profit while providing integrating fiscal services to the national government for free. The model revolved around the strategic use of its unique ability to establish a nationwide system of branches. This book shows how the Bank used its branch network to establish dominance in select money markets: frontier money markets and markets for bills of exchange and specie. These lines of business created synergies with the Bank's fiscal duties, and profits that helped cover their costs. The Bank's branch in New Orleans, Louisiana, became its geographic centre of gravity, in contrast with the state-chartered banking system, which was already, by the 1820s, centred around New York. This book is of great interest to those who study banking and American history, as well as economic students who have a great interest in economic history.
(source: Nielsen Book Data)9781138786622 20161124
Law Library (Crown)
Book
xix, 250 pages ; 24 cm
  • We're all underbanked
  • Where everybody knows your name
  • Bankonomics, or How banking changed and most of us lost out
  • The new middle class
  • The credit trap : "bad debt" and real life
  • Payday loans : making the best of poor options
  • Living in the minus : the millennial perspective
  • Borrowing and saving under the radar
  • Inside the innovators
  • Rejecting the new normal.
Discusses the problems with American banking and investigates such informal banking alternatives as check-cashing businesses, payday lenders, and lending clubs.
"An urgent, absorbing exposé--why Americans are fleeing our broken banking system in growing numbers, and how alternatives are rushing in to do what banks once did. What do an undocumented immigrant in the South Bronx, a high-net-worth entrepreneur, and a twenty-something graduate student have in common? All three are victims of our dysfunctional mainstream banking and credit system. Today nearly half of all Americans live from paycheck to paycheck, and income volatility has doubled over the past thirty years. Banks, with their high monthly fees and overdraft charges, are gouging their low- and middle-income customers while serving only the wealthiest Americans. Lisa Servon delivers a stunning indictment of America's banks, together with eye-opening dispatches from inside a range of banking alternatives that have sprung up to fill the void. She works as a teller at RiteCheck, a check-cashing business in the South Bronx, and as a payday lender in Oakland. She looks closely at the workings of a tanda, an informal lending club. And she delivers engaging, hopeful portraits of the entrepreneurs reacting to the unbanking of America by designing systems to creatively serve many of us."--Dust jacket.
Law Library (Crown)
Book
viii, 180 pages ; 23 cm
  • The logic of promissory finance
  • The entrepreneurial ethic and the spirit of financialism
  • The ghost in the financial machine
  • The sacred market
  • Sociality, uncertainty, and ritual
  • The charismatic derivative
  • The wealth of dividuals
  • The global ambitions of finance
  • The end of the contractual promise.
In this provocative look at one of the most important events of our time, renowned scholar Arjun Appadurai argues that the economic collapse of 2008-while indeed spurred on by greed, ignorance, weak regulation, and irresponsible risk-taking-was, ultimately, a failure of language. To prove this sophisticated point, he takes us into the world of derivative finance, which has become the core of contemporary trading and the primary target of blame for the collapse and all our subsequent woes. With incisive argumentation, he analyzes this challengingly technical world, drawing on thinkers such as J. L. Austin, Marcel Mauss, and Max Weber as theoretical guides to showcase the ways language-and particular failures in it-paved the way for ruin. Appadurai moves in four steps through his analysis. In the first, he highlights the importance of derivatives in contemporary finance, isolating them as the core technical innovation that markets have produced. In the second, he shows that derivatives are essentially written contracts about the future prices of assets-they are, crucially, a promise. Drawing on Mauss's The Gift and Austin's theories on linguistic performatives, Appadurai, in his third step, shows how the derivative exploits the linguistic power of the promise through the special form that money takes in finance as the most abstract form of commodity value. Finally, he pinpoints one crucial feature of derivatives (as seen in the housing market especially): that they can make promises that other promises will be broken. He then details how this feature spread contagiously through the market, snowballing into the systemic liquidity crisis that we are all too familiar with now. With his characteristic clarity, Appadurai explains one of the most complicated-and yet absolutely central-aspects of our modern economy. He makes the critical link we have long needed to make: between the numerical force of money and the linguistic force of what we say we will do with it.
(source: Nielsen Book Data)9780226318776 20160619
Law Library (Crown)
Book
2 volumes ; 24 cm.
  • A primer on governance, history, and legitimacy.
  • An assessment of governance and legitimacy.
The Basel Committee on Banking Supervision (BCBS) was established in 1974 as an informal group of central bankers and bank supervisors with the mandate to formulate supervisory standards and guidelines. Although the Committee does not have any formal supranational authority, it is the de facto global banking regulator and its recommendations have been widely implemented by member and non-member states. Maziar Peihani investigates the BCBS's governance, operation, and policy outcomes to determine the extent to which it is and has been legitimate. The project is comprised of two parts. This part overviews the literature on the BCBS, outlines its contribution, and provides a primer on the Committee's governance and functions. In addition, it engages with the current theories on legitimacy and discusses what legitimacy means for the global governance of banking and how it can be assessed.
(source: Nielsen Book Data)9789004328129 20170117
Part I of this project overviewed the literature on the Basel Committee of Banking Supervision (BCBS) and provided a primer on the Committee's governance and functions. It also engaged with the current theories on legitimacy and discussed what legitimacy meant for the global governance of banking and how it could be assessed. This part investigates the BCBS's governance, operation, and policy outcomes to determine the extent to which it is and has been legitimate. The assessment is conducted based on three principles of reasoned decision making, transparency, and accountability. Maziar Peihani argues that the BCBS has gradually become a more legitimate institution but there still exists significant room for improvement. He highlights a number of areas for reform and sets out policy prescriptions to enhance the BCBS's legitimacy.
(source: Nielsen Book Data)9789004337190 20170117
Law Library (Crown)
Book
2 volumes ; 24 cm.
  • Pt. I. A primer on governance, history, and legitimacy.
  • Pt. II. An assessment of governance and legitimacy
Part I of this project overviewed the literature on the Basel Committee of Banking Supervision (BCBS) and provided a primer on the Committee's governance and functions. It also engaged with the current theories on legitimacy and discussed what legitimacy meant for the global governance of banking and how it could be assessed. This part investigates the BCBS's governance, operation, and policy outcomes to determine the extent to which it is and has been legitimate. The assessment is conducted based on three principles of reasoned decision making, transparency, and accountability. Maziar Peihani argues that the BCBS has gradually become a more legitimate institution but there still exists significant room for improvement. He highlights a number of areas for reform and sets out policy prescriptions to enhance the BCBS's legitimacy.
(source: Nielsen Book Data)9789004337190 20170117
Law Library (Crown)
Book
xxvii, 304 pages : illustrations ; 26 cm
  • PREFACE vii FOREWORD The Long Road to Bitcoin ix Jeremy clark 1 Introduction to Cryptography and Cryptocurrencies 1 2 How Bitcoin Achieves Decentralization 27 3 Mechanics of Bitcoin 51 4 How to Store and Use Bitcoins 76 5 Bitcoin Mining 104 6 Bitcoin and Anonymity 138 7 Community, Politics, and Regulation 168 8 Alternative Mining Puzzles 190 9 Bitcoin as a Platform 213 10 Altcoins and the Cryptocurrency Ecosystem 242 11 Decentralized Institutions: The Future of Bitcoin? 272 CONCLUSION 286 ACKNOWLEDGMENTS 287 ABOUT THE AUTHORS 289 INDEX 291.
  • (source: Nielsen Book Data)9780691171692 20160928
Bitcoin and Cryptocurrency Technologies provides a comprehensive introduction to the revolutionary yet often misunderstood new technologies of digital currency. Whether you are a student, software developer, tech entrepreneur, or researcher in computer science, this authoritative and self-contained book tells you everything you need to know about the new global money for the Internet age. How do Bitcoin and its block chain actually work? How secure are your bitcoins? How anonymous are their users? Can cryptocurrencies be regulated? These are some of the many questions this book answers. It begins by tracing the history and development of Bitcoin and cryptocurrencies, and then gives the conceptual and practical foundations you need to engineer secure software that interacts with the Bitcoin network as well as to integrate ideas from Bitcoin into your own projects. Topics include decentralization, mining, the politics of Bitcoin, altcoins and the cryptocurrency ecosystem, the future of Bitcoin, and more. * An essential introduction to the new technologies of digital currency * Covers the history and mechanics of Bitcoin and the block chain, security, decentralization, anonymity, politics and regulation, altcoins, and much more * Features an accompanying website that includes instructional videos for each chapter, homework problems, programming assignments, and lecture slides * Also suitable for use with the authors' Coursera online course * Electronic solutions manual (available only to professors).
(source: Nielsen Book Data)9780691171692 20160928
Law Library (Crown)
Book
xx, 348 pages ; 24 cm
  • The trust protocol
  • Bootstrapping the future : seven design principles of the blockchain economy
  • Reinventing financial services
  • Re-architecting the firm : the core and the edges
  • New business models : making it rain on the blockchain
  • The ledger of things : animating the physical world
  • Solving the prosperity paradox : economic inclusion and entrepreneurship
  • Rebuilding government and democracy
  • Freeing culture on the blockchain : music to our ears
  • Overcoming showstoppers : ten implementation challenges
  • Leadership for the next era.
The Internet as we know it is great for collaboration and communication, but is deeply flawed when it comes to commerce and privacy. The new blockchain technology facilitates peer-to-peer transactions without any intermediary such as a bank or governing body. Keeping the user's information anonymous, the blockchain validates and keeps a permanent public record of all transactions. That means that your personal information is private and secure, while all activity is transparent and incorruptible--reconciled by mass collaboration and stored in code on a digital ledger. With its advent, we will not need to trust each other in the traditional sense, because trust is built into the system itself.
Law Library (Crown)
Book
xi, 248 pages ; 24 cm.
  • AcknowledgmentsIntroduction: Innovative Finance and the Visible Hand1. REDD Forests, Green Bonds, and the Price of Carbon 2. Health: Medicine for Market Failure 3. Financial Inclusion and Access to Capital 4. Toward a New Disaster Finance: Redefining Risk, Response, and Resilience 5. Innovative Finance in Communities Across the United States Conclusion: Financing the Future: The Lessons of Innovative Finance and the TIES That Bind Epilogue: The Road Ahead Notes Index.
  • (source: Nielsen Book Data)9780231178020 20161213
Despite social and economic advances around the world, poverty and disease persist, exacerbated by the mounting challenges of climate change, natural disasters, political conflict, mass migration, and economic inequality. While governments commit to addressing these challenges, traditional public and philanthropic dollars are not enough. Here, innovative finance has shown a way forward: by borrowing techniques from the world of finance, we can raise capital for social investments today. Innovative finance has provided polio vaccines to children in the DRC, crop insurance to farmers in India, pay-as-you-go solar electricity to Kenyans, and affordable housing and transportation to New Yorkers. It has helped governmental, commercial, and philanthropic resources meet the needs of the poor and underserved and build a more sustainable and inclusive prosperity. Capital and the Common Good shows how market failure in one context can be solved with market solutions from another: an expert in securitization bundles future development aid into bonds to pay for vaccines today; an entrepreneur turns a mobile phone into an array of financial services for the unbanked; and policy makers adapt pay-for-success models from the world of infrastructure to human services like early childhood education, maternal health, and job training. Revisiting the successes and missteps of these efforts, Georgia Levenson Keohane argues that innovative finance is as much about incentives and sound decision-making as it is about money. When it works, innovative finance gives us the tools, motivation, and security to invest in our shared future.
(source: Nielsen Book Data)9780231178020 20161213
Law Library (Crown)
Book
381 pages : illustrations ; 22 cm
  • Introduction
  • Wealth management as a profession
  • Client relations
  • Tactics and techniques of wealth management
  • Wealth management and inequality
  • Wealth management and the state
  • Conclusion.
How do the one percent hold on to their wealth? And how do they keep getting richer, despite financial crises and the myriad of taxes on income, capital gains, and inheritance? Capital without Borders takes a novel approach to these questions by looking at professionals who specialize in protecting the fortunes of the world s richest people: wealth managers. Brooke Harrington spent nearly eight years studying this little-known group including two years training to become a wealth manager herself. She then followed the money to the eighteen most popular tax havens in the world, interviewing practitioners to understand how they helped their high-net-worth clients avoid taxes, creditors, and disgruntled heirs all while staying just within the letter of the law. Capital without Borders reveals how wealth managers use offshore banks, shell corporations, and trusts to shield billions in private wealth not only from taxation but from all manner of legal obligations. And it shows how practitioners justify their work, despite evidence that it erodes government authority and contributes to global inequality.Harrington s research offers the first glimpse into the tactics and mentality of a secretive profession that controls astonishingly large flows of capital around the world. Based on sixty-five practitioner interviews conducted in the traditional financial centers of Europe and the Americas as well as the up-and-coming tax havens of Africa, Asia, and the South Pacific Capital without Borders gives voice for the first time to an elite that has worked quietly and unobtrusively to enrich the one percent.".
(source: Nielsen Book Data)9780674743809 20170123
Law Library (Crown)
Book
xx, 324 pages : illustrations ; 24 cm
  • List of Figures and Tables xi Preface xiii Abbreviations xvii Chapter 1 Introduction 1 Chapter 2 Trends in Banking 7 2.1 The Expansion of the Financial Sector, Economic Growth, Financial Innovation, and Systemic Risk 10 2.1.1 Financial Sector Growth and Economic Growth 10 2.1.2 Financial Innovation and Systemic Risk 12 2.2 Business Models and the Challenge to Traditional Banking 18 2.2.1 Business Models and New Competitors 18 2.2.2 The Evolution of Competition 21 2.3 Consolidation and the Evolution of Concentration 27 Chapter 3 Fragility in Banking and the Role of Regulation 37 3.1 The Uniqueness of Banks and Fragility 37 3.1.1 The Roots of Fragility 38 3.1.2 Contagion and Systemic Risk 40 3.1.3 Social Cost of Failure 43 3.2 Shadow Banking and the 2007-2009 Crisis 44 3.3 Regulation and Financial Stability Facilities 47 3.3.1 Regulatory Aims and Tools 47 3.3.2 Prudential Regulation and the Safety Net 48 3.3.3 Bailout Distortions 50 3.3.4 Resolution 51 3.4 The 2007-2009 Crisis, Regulatory Failure, and Regulatory Reform 53 3.4.1 The 2007-2009 Crisis and Regulatory Failure 53 3.4.2 Macroprudential Regulation 56 3.4.3 Regulatory Reform 57 3.5 Regulation in Emerging/Developing Economies 64 Chapter 4 The Analysis of Competition in Banking: Theory and Empirics 70 4.1 Theoretical Models 72 4.1.1 Pricing 72 4.1.2 Product Differentiation 73 4.1.3 Frictions: Switching Costs and Asymmetric Information 74 4.1.4 Network Externalities and Two-Sided Markets 76 4.1.5 Market Structure, Entry, and New Competitors 79 4.1.6 Mergers 83 4.2 Empirical Studies 85 4.2.1 The SCP Paradigm 85 4.2.2 The New Empirical IO 88 4.2.3 The Impact of Deregulation 91 4.2.4 Asymmetric Information and Relationship Banking 93 4.2.5 Mergers 94 4.3 Behavioral Industrial Organization and Banking 97 4.3.1 Behavioral Biases and Their Impact on Consumer Behavior 98 4.3.2 Biases in Financial Markets 100 Chapter 5 Competition, Regulation, and Stability in Banking: Theory and Evidence 106 5.1 Competition and Stability: The Theory 106 5.1.1 Competition and Runs 106 5.1.2 Competition and Risk Taking 109 5.2 Competition and Stability: The Evidence 115 5.2.1 Competition and Systemic Risk 115 5.2.2 Liberalization, Risk Taking, and Systemic Risk 116 5.2.3 Concentration, Competition, and Stability 118 5.2.4 Consolidation, Diversification, Internationalization, and Stability 121 5.2.5 Lessons from the Subprime Financial Crisis 122 5.3 Interaction of Competition Policy and Regulation 124 5.3.1 The Competition-Stability Trade-Off and Regulation 124 5.3.2 The Competition-Stability Trade-Off in Emerging Economies 129 5.3.3 Coordination of Competition Policy and Prudential Regulation 130 5.4 Assessment of the Regulatory Reform Post 2007-2009 Crisis 134 Chapter 6 An Overview of Competition Policy Practice 141 6.1 The Concerns of the Competition Authorities in the EU and the UK 142 6.1.1 The EU 142 6.1.2 The UK 143 6.2 Market Definition 146 6.3 Mergers 149 6.3.1 The United States 150 6.3.2 The EU 151 6.4 Cartels and Restrictive Agreements 154 6.4.1 International Cartels 156 6.4.2 Credit Cards and Two-Sided Markets 159 6.5 State Aid in the EU 161 6.6 Consumer Protection and Behavioral Banking 163 6.6.1 The United States 166 6.6.2 The EU 168 6.7 Banking Competition Policy in Emerging Economies 170 6.7.1 Brazil 170 6.7.2 China 172 6.7.3 India 174 6.7.4 Mexico 175 6.7.5 Russian Federation 178 6.7.6 Southern Mediterranean Countries 180 Chapter 7 Competition Policy, Regulatory Architecture, and Public Intervention in the Crisis 183 7.1 Regulatory Architecture and the Competition Authority 183 7.1.1 The Design of the Financial Regulatory Architecture 183 7.1.2 The EU 190 7.1.3 The UK 195 7.2 Public Intervention, State Ownership, and Competition Distortions 199 7.2.1 Systemic Crisis, State Aid, and Competitive Distortions 199 7.2.2 State Ownership in Banking 201 7.2.3 Savings Banks 202 7.3 Competition Policy and State Aid in the EU 205 7.3.1 The 2007-2009 Crisis and Banking Resolution Tools 206 7.3.2 State Aid and Competition Distortions 209 7.3.3 Competition Policy, TBTF, and Moral Hazard 213 7.4 Merger Policy and the "Failing-Firm Defense" Doctrine 215 7.4.1 The United States 215 7.4.2 The UK 216 7.4.3 The "Failing-Firm Defense" in Banking 217 7.4.4 Spain 218 Chapter 8 Summary of Findings and Policy Implications 222 8.1 Summary of Findings 222 8.1.1 Evolution of Banking 223 8.1.2 The Role of Regulation and the Response to the 2007-2009 Crisis 224 8.1.3 The Nature of Competition in Banking 227 8.1.4 The Trade-Off between Competition and Stability 229 8.1.5 Competition Policy Practice in the Banking Sector 231 8.2 Policy Implications 233 8.2.1 Competition Policy Recommendations 233 8.2.2 Assessment of Regulatory Reform 235 8.2.3 Regulation and Competition Policy Must Be Coordinated 237 8.2.4 Regulatory Architecture 239 8.3 Challenges 241 Notes 245 References 283 Index 315.
  • (source: Nielsen Book Data)9780691171791 20161024
Does too much competition in banking hurt society? What policies can best protect and stabilize banking without stifling it? Institutional responses to such questions have evolved over time, from interventionist regulatory control after the Great Depression to the liberalization policies that started in the United States in the 1970s. The global financial crisis of 2007-2009, which originated from an oversupply of credit, once again raised questions about excessive banking competition and what should be done about it. Competition and Stability in Banking addresses the critical relationships between competition, regulation, and stability, and the implications of coordinating banking regulations with competition policies. Xavier Vives argues that while competition is not responsible for fragility in banking, there are trade-offs between competition and stability. Well-designed regulations would alleviate these trade-offs but not eliminate them, and the specificity of competition in banking should be accounted for. Vives argues that regulation and competition policy should be coordinated, with tighter prudential requirements in more competitive situations, but he also shows that supervisory and competition authorities should stand separate from each other, each pursuing its own objective. Vives reviews the theory and empirics of banking competition, drawing on up-to-date analysis that incorporates the characteristics of modern market-based banking, and he looks at regulation, competition policies, and crisis interventions in Europe and the United States, as well as in emerging economies. Focusing on why banking competition policies are necessary, Competition and Stability in Banking examines regulation's impact on the industry's efficiency and effectiveness.
(source: Nielsen Book Data)9780691171791 20161024
Law Library (Crown)
Book
xxix, 416 pages : illustrations ; 25 cm
  • Part I. Europe in crisis
  • The euro crisis
  • The euro: the hope and the reality
  • Europe's dismal performance
  • Part II. Flawed from the start
  • When can a single currency ever work?
  • The euro: a divergent system
  • Monetary policy and the European Central Bank
  • Part III. Misconceived policies
  • Crises policies: how Troika policies compounded the flawed eurozone structure, ensuring depression
  • Structural reforms that further compounded failure
  • Part IV. A way forward?
  • Creating a eurozone that works
  • Can there be an amicable divorce?
  • Toward a flexible euro
  • The way forward.
In 2010, the 2008 global financial crisis morphed into the "eurocrisis." It has not abated. The 19 countries of Europe that share the euro currency-the eurozone-have been rocked by economic stagnation and debt crises. Some countries have been in depression for years while the governing powers of the eurozone have careened from emergency to emergency, most notably in Greece. In The Euro, Nobel Prize-winning economist and best-selling author Joseph E. Stiglitz dismantles the prevailing consensus around what ails Europe, demolishing the champions of austerity while offering a series of plans that can rescue the continent-and the world-from further devastation. Hailed by its architects as a lever that would bring Europe together and promote prosperity, the euro has done the opposite. As Stiglitz persuasively argues, the crises revealed the shortcomings of the euro. Europe's stagnation and bleak outlook are a direct result of the fundamental challenges in having a diverse group of countries share a common currency-the euro was flawed at birth, with economic integration outpacing political integration. Stiglitz shows how the current structure promotes divergence rather than convergence. The question then is: Can the euro be saved? After laying bare the European Central Bank's misguided inflation-only mandate and explaining how eurozone policies, especially toward the crisis countries, have further exposed the zone's flawed design, Stiglitz outlines three possible ways forward: fundamental reforms in the structure of the eurozone and the policies imposed on the member countries; a well-managed end to the single-currency euro experiment; or a bold, new system dubbed the "flexible euro." With its lessons for globalization in a world economy ever more deeply connected, The Euro is urgent and essential reading.
(source: Nielsen Book Data)9780393254020 20160912
Law Library (Crown)
Book
xvi, 219 pages : illustrations ; 23 cm.
  • Index Preface & Introduction Preface Introduction Some Preliminary Observations On The New Legal Framework PART I: THE FINANCIAL CRISIS AND THE BANKING UNION PROJECT 1. The Weakness Of The Institutional Framework For Managing Banking Crisis Before The Financial Crisis 2. First Timid (And Difficult) Attempts To Regulate Banking Insolvency 3. The Answer To The Financial Crisis: The Banking Union Project PART II: THE FIRST PILLAR OF THE BANKING UNION: THE SINGLE SUPERVISORY MECHANISM 4. The Evolution Of Banking Supervision At The European Level 4.1. The First Phase: The Reform Of Regulation Procedures (The Lamfalussy System) And The Logic Of Cooperation And Coordination In Banking Supervision 4.2. The Second Phase: Strengthening International Cooperation And The Creation Of European Supervisory Bodies (De Larosiere Project) 4.3. The Point Of Arrival: The Centralization Of Supervisory Functions (The Single Supervisory Mechanism 5. The Single Supervisory Mechanism: The Legal And Institutional Profiles 5.1. The Allocation Of Responsibilities Between ECB And National Supervisory Authorities 5.2. The Potential Conflict Of Interest Between Supervisory And Monetary Policy Functions. The Independence And Separation Principles 5.3. The Relations With EBA (European Banking Authority) 5.4. The Organization Of Shared Supervision 5.5. The Preparatory Stage Of The SSM 5.6. The Role Of ECB In Banking Crisis Management PART III: THE EUROPEAN REFORM OF THE RULES FOR BANKING CRISIS MANAGEMENT: THE BANK RECOVERY AND RESOLUTION DIRECTIVE 6. The New European Rules For Crisis Management 7. The Setting Up Of National Resolution Authorities 8. A Significant Innovative Theme: The Handling Of Cross-Border Group Crises. The Establishment Of Resolution Colleges 9. A New Strategic Approach: Towards A Complete And Integrated Vision To Deal With Crisis Phenomena 9.1 Preparatory And Preventative Measures 9.1.1. Recovery Plans 9.1.2. Resolution Plans 9.2 Early Intervention 9.2.1. Definition Of Triggers For Intervention 9.2.2. Choice Of Early Intervention Tools. 9.3. Resolution 9.3.1. Triggers For Resolution Action 9.3.2. Powers Of The Resolution Authority 9.3.3. Resolution Tools 9.3.4. Government Financial Stabilisation Tools 9.3.5. Safeguards For Third Parties 9.4 Liquidation 10. Financing Resolution. The Establishment Of The Bank Resolution Fund (BRF) 10.1. Funding Mechanism 10.2. The Use Of Bank Resolution Funds 10.3. Intervention Of Deposit Guarantee Schemes In The Resolution. 10.4. Recourse To The European Stability Mechanism (ESM) 11. A Challenge For The Future. The Harmonisation Of Insolvency Regimes PART IV: THE SECOND PILLAR OF THE BANKING UNION: FROM THE NATIONAL RESOLUTION AUTHORITIES TO THE SINGLE RESOLUTION MECHANISM 12. The Regulatory Path Towards The Centralization Of Crisis Management 13. Conferring Tasks On To The Single Resolution Authority Tasks. The Legal Basis 14. Decision-Making Process In Resolution: A Fractious, Perhaps Inevitable, System 15. The Setting-Up Of A Single Resolution Fund 15.1. Financial Resources And Funding Mechanism Of The Single Resolution Fund 15.2. The Intergovernmental Agreement On Transfer And Mutualization Of Resources To The Single Resolution Fund 15.3. Contribution Mechanism To The Fund 15.4. Relations Between The SRF And The Deposit Guarantee Systems PART V: THE THIRD PILLAR OF THE BANKING UNION: THE PAN-EUROPEAN DEPOSIT GUARANTEE SCHEME 16. The Role Of Deposit Guarantee Schemes 17. The 94/19/EC Directive 18. DGSD Reform: From Minimum To Maximum Harmonization 18.1. The Reform Process And General Lines Of Regulatory Intervention 18.2. Main Aspects Of The Reform 18.2.1. Scope Of Guarantee, Payout Procedures And Timeframe 18.2.2. Stress Test Of Deposit Guarantee Systems 18.2.3. Financial Means Of DSG And Funding Mechanism 18.2.4. Use Of Funds 18.2.5. Institutional Protection Scheme 18.2.6. Cooperation And Exchange Of Information Between DGSS And Other Authorities Within The Safety Net 18.2.7. Cross-Border Cooperation. PART VI: BANKING CRISES AND STATE AID DISCIPLINE 19. State Aid General Rules 20. The Special Discipline For The Financial Sector 21. The 2013 Communication Of The European Commission 22.1. The Burden-Sharing Principle And The Need For A Bank Restructuring Plan 22.2. Recapitalization And Impaired Asset Measures 22.3. Guarantees And Liquidity Support 22.4. Intervention Of Deposit Guarantee Schemes 22.5. Aid To Bank Liquidation 23. The Rationale For EU Action: The Growth Target PART VII: CONCLUSIONS 24. The Implant Of The New European Regulations On Banking Crisis Management In National Legislations 25. The Identification Of The Resolution Authority 26. The Scope And The Use Of Tools: The Flexibility Of The Directive And The Room For Discretionary Measures Left To Member States 27. The Safeguards For Subjects Affected By Resolution Measures 28. DGSD Implementation: National Legislative Choices Bibliography.
  • (source: Nielsen Book Data)9781137555649 20160619
This volume examines the numerous changes occurring in European legislation for the prevention and management of banking crises.
(source: Nielsen Book Data)9781137555649 20160619
Law Library (Crown)
Book
vi, 309 pages ; 24 cm
  • AcknowledgmentsIntroduction1. Origins2. The Money Magnet3. Virtual Money4. New World5. A Wonderful Machine6. The Money Power7. Solid Gold Economics8. New Money9. Changing the Dominant Monetary Regime, Bit(coin) by Bit10. UtopiaNotesBibliographyIndex.
  • (source: Nielsen Book Data)9780231173728 20160822
The sharing economy's unique customer-to-company exchange is possible because of the way in which money has evolved. These transactions have not always been as fluid as they are today, and they are likely to become even more fluid. It is therefore critical that we learn to appreciate money's elastic nature as deeply as do Uber, Airbnb, Kickstarter, and other innovators, and that we understand money's transition from hard currencies to cryptocurrencies like Bitcoin if we are to access their cooperative potential. The Evolution of Money illuminates this fascinating reality, focusing on the tension between currency's real and abstract properties and advancing a vital theory of money rooted in this dual exchange. It begins with the debt tablets of Mesopotamia and follows with the development of coin money in ancient Greece and Rome, gold-backed currencies in medieval Europe, and monetary economics in Victorian England. The book ends in the digital era, with the cryptocurrencies and service providers that are making the most of money's virtual side and that suggest a tectonic shift in what we call money. By building this organic time line, The Evolution of Money helps us anticipate money's next, transformative role.
(source: Nielsen Book Data)9780231173728 20160822
Law Library (Crown)