The Regulation Of Megabanks

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The Regulation of Megabanks

Katarzyna Parchimowicz
The Regulation of Megabanks Book PDF

Author : Katarzyna Parchimowicz
Publisher : Taylor & Francis
Page : 246 pages
File Size : 48,8 Mb
Release : 2022-11-22
Category : Law
ISBN : 9781000799057

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The Regulation of Megabanks by Katarzyna Parchimowicz Pdf

Global systemically important banks (G-SIBs) are the largest, most complex and, in the event of their potential failure, most threatening banking institutions in the world. The Global Financial Crisis (GFC) was a turning point for G-SIBs, many of which contributed to the outbreak and severity of this downturn. The unfolding of the GFC also revealed flaws and omissions in the legal framework applying to financial entities. In the context of G-SIBs, it clearly demonstrated that the legal regimes, both in the USA and in the EU, grossly ignored the specific character of these institutions and their systemic importance, complexity, and individualism. As a result of this omission, these megabanks were long treated like any other smaller banking institutions. Since the GFC, legal systems have changed a lot on both sides of the Atlantic, and global and national lawmakers have adopted new rules applying specifically to G-SIBs to reduce their threat to financial stability. This book explores whether the G-SIB-specific regulatory frameworks are adequately tailored to their individualism in order to prevent them from exploiting overly general rules, as they did during the GFC. Analyzing the specific character and individualism of G-SIBs, in relation to their history, normal functioning, as well as their operations during the GFC, this book discusses transformation of banking systems and the challenges and opportunities G-SIBs face, such as Big Tech competitors, climate-related requirements, and the COVID-19 pandemic. Taking a multidisciplinary approach which combines financial aspects of operations of G- SIBs and legal analysis, the book describes G-SIB-oriented legal frameworks of the EU and the USA and assesses whether G-SIB individualism is adequately reflected, analyzing trends in supervisory action when it comes to discretion in the G-SIB context, all in order to contribute to the ongoing discussions about international banking law, its problems, and potential remedies to such persistent flaws.

The Regulation of Megabanks

Katarzyna M. Parchimowicz
The Regulation of Megabanks Book PDF

Author : Katarzyna M. Parchimowicz
Publisher : Unknown
Page : 0 pages
File Size : 54,9 Mb
Release : 2022
Category : Banks and banking, International
ISBN : 1032233559

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The Regulation of Megabanks by Katarzyna M. Parchimowicz Pdf

"Global systemically important banks are the largest, most complex and, in the event of their potential failure, most threatening banking institutions in the world. The global financial crisis was a turning point for global systemically important banks, many of which contributed to the outbreak and severity of this downturn. The unfolding of the global financial crisis also revealed flaws and omissions in the legal framework applying to financial entities. In the context of global systemically important banks it clearly demonstrated that the legal regimes, both in the USA and in the EU, grossly ignored the specific character of these institutions and their systemic importance, complexity and individualism. As a result of this omission, these megabanks were long treated like any other smaller banking institution. Since the financial crisis legal systems have changed a lot since then on both sides of the Atlantic, global and national lawmakers have adopted new rules applying specifically to global systemically important banks to reduce their threat to financial stability. This book explores whether the regulatory frameworks related to G-SIBs are adequately tailored to their individualism in order to prevent them from exploiting overly general rules, as they did during the global financial crisis. Analysing the specific character and individualism of G-SIBs, in relation to their history, normal function, as well as their operations during the GFC the book the transformation of banking systems and the challenges and opportunities G-SIBs face, such as Big Tech competitors, climate-related requirements and the COVID-19 pandemic Taking a multidisciplinary approach which combines financial aspects of operations of G- SIBs and legal analysis the book describes G-SIB-oriented legal frameworks of the EU and the USA and assesses whether G- SIB individualism is adequately reflected, assessing trends in supervisory action when it comes to discretion in the G-SIB context to contribute to the ongoing discussions about international banking law, its problems and potential remedies to such persistent flaws"--

Taming the Megabanks

Arthur E. Wilmarth Jr
Taming the Megabanks Book PDF

Author : Arthur E. Wilmarth Jr
Publisher : Oxford University Press
Page : 256 pages
File Size : 53,7 Mb
Release : 2020-09-15
Category : Business & Economics
ISBN : 9780190260712

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Taming the Megabanks by Arthur E. Wilmarth Jr Pdf

Banks were allowed to enter securities markets and become universal banks during two periods in the past century - the 1920s and the late 1990s. Both times, universal banks made high-risk loans and packaged them into securities that were sold as safe investments to poorly-informed investors. Both times, universal banks promoted unsustainable booms that led to destructive busts - the Great Depression of the early 1930s and the Global Financial Crisis of 2007-09. Both times, governments were forced to arrange costly bailouts of universal banks. Congress passed the Glass-Steagall Act of 1933 in response to the Great Depression. The Act broke up universal banks and established a decentralized financial system composed of three separate and independent sectors: banking, securities, and insurance. That system was stable and successful for over four decades until the big-bank lobby persuaded regulators to open loopholes in Glass-Steagall during the 1980s and convinced Congress to repeal it in 1999. Congress did not adopt a new Glass-Steagall Act after the Global Financial Crisis. Instead, Congress passed the Dodd-Frank Act. Dodd-Frank's highly technical reforms tried to make banks safer but left in place a dangerous financial system dominated by universal banks. Universal banks continue to pose unacceptable risks to financial stability and economic and social welfare. They exert far too much influence over our political and regulatory systems because of their immense size and their undeniable "too-big-to-fail" status. In Taming the Megabanks, Arthur Wilmarth argues that we must again separate banks from securities markets to avoid another devastating financial crisis and ensure that our financial system serves Main Street business firms and consumers instead of Wall Street bankers and speculators. Wilmarth's comprehensive and detailed analysis demonstrates that a new Glass-Steagall Act would make our financial system much more stable and less likely to produce boom-and-bust cycles. Giant universal banks would no longer dominate our financial system or receive enormous subsidies. A more decentralized and competitive financial system would encourage banks and securities firms to fulfill their proper roles as servants - not masters - of Main Street businesses and consumers.

13 Bankers

Simon Johnson,James Kwak
13 Bankers Book PDF

Author : Simon Johnson,James Kwak
Publisher : Vintage
Page : 338 pages
File Size : 54,8 Mb
Release : 2011-01-11
Category : Business & Economics
ISBN : 9780307476609

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13 Bankers by Simon Johnson,James Kwak Pdf

In spite of its key role in creating the ruinous financial crisis of 2008, the American banking industry has grown bigger, more profitable, and more resistant to regulation than ever. Anchored by six megabanks whose assets amount to more than 60 percent of the country’s gross domestic product, this oligarchy proved it could first hold the global economy hostage and then use its political muscle to fight off meaningful reform. 13 Bankers brilliantly charts the rise to power of the financial sector and forcefully argues that we must break up the big banks if we want to avoid future financial catastrophes. Updated, with additional analysis of the government’s recent attempt to reform the banking industry, this is a timely and expert account of our troubled political economy.

Out of Control

Brian MacLean
Out of Control Book PDF

Author : Brian MacLean
Publisher : James Lorimer & Company
Page : 228 pages
File Size : 43,9 Mb
Release : 1999
Category : Business & Economics
ISBN : 1550286889

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Out of Control by Brian MacLean Pdf

Financial market turmoil grabbed headlines in the nineties. Many countries, most notably in East Asia, saw their currencies collapse and output plummet. Economic shock waves from these crises hit Canada. In this collection of essays, distinguished contributors such as Linda McQuaig, Jacques Parizeau and Douglas Peters go behind the headlines. They explain the roots of international financial market turmoil and suggest reforms that will bring greater stability to the global economy and to the lives of the people who participate in it. They assert that financial markets are inherently unstable and argue for strong regulation. Out of Control offers clear-headed analyses of the market turmoil of the 1990s and suggestions to minimize such volatility in future.

Banks, Exchanges, and Regulators

Ranald C. Michie
Banks Exchanges and Regulators Book PDF

Author : Ranald C. Michie
Publisher : Oxford University Press, USA
Page : 762 pages
File Size : 49,7 Mb
Release : 2021-01-26
Category : Business & Economics
ISBN : 9780199553730

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Banks, Exchanges, and Regulators by Ranald C. Michie Pdf

Never have financial markets been subjected to a period of change as rapid and extensive as took place from the 1970s onwards. Ranald C. Michie provides an authoritative account of this upheaval based on a careful reading of the Financial Times over the last four decades.

Banking, Monetary Policy and the Political Economy of Financial Regulation

Gerald A. Epstein,Tom Sclesinger,Matias Vernengo
Banking Monetary Policy and the Political Economy of Financial Regulation Book PDF

Author : Gerald A. Epstein,Tom Sclesinger,Matias Vernengo
Publisher : Edward Elgar Publishing
Page : 392 pages
File Size : 53,6 Mb
Release : 2014-07-31
Category : Banks and banking
ISBN : 9781783472642

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Banking, Monetary Policy and the Political Economy of Financial Regulation by Gerald A. Epstein,Tom Sclesinger,Matias Vernengo Pdf

The many forces that led to the economic crisis of 2008 were in fact identified, analyzed and warned against for many years before the crisis by economist Jane D�Arista, among others. Now, writing in the tradition of D�Arista's extensive work, the

Bailout

Irvine H. Sprague
Bailout Book PDF

Author : Irvine H. Sprague
Publisher : Beard Books
Page : 316 pages
File Size : 49,5 Mb
Release : 1986
Category : Business & Economics
ISBN : 1587980177

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Bailout by Irvine H. Sprague Pdf

During the high interest times in the 1970's and 1980's, the banks and the savings and loan associations were under heavy financial pressure. Hundreds of them failed. The Home Loan Bank Board permitted the savings and loan associations to treat goodwill as capital, thereby allowing them to remain open and to build up enormous losses that eventually cost the taxpayers billions of dollars. The Federal Deposit Insurance Corporation took a different approach. It closed the banks or sold them, all at no cost to the taxpayers. Bailout is the engrossing story of how the FDIC handled four of these failures. Book jacket.

Unfinished Business

Tamim Bayoumi
Unfinished Business Book PDF

Author : Tamim Bayoumi
Publisher : Yale University Press
Page : 288 pages
File Size : 43,5 Mb
Release : 2017-09-19
Category : Business & Economics
ISBN : 9780300231830

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Unfinished Business by Tamim Bayoumi Pdf

A penetrating critique tracing how under-regulated trading between European and U.S. banks led to the 2008 financial crisis—with a prescription for preventing another meltdown There have been numerous books examining the 2008 financial crisis from either a U.S. or European perspective. Tamim Bayoumi is the first to explain how the Euro crisis and U.S. housing crash were, in fact, parasitically intertwined. Starting in the 1980s, Bayoumi outlines the cumulative policy errors that undermined the stability of both the European and U.S. financial sectors, highlighting the catalytic role played by European mega banks that exploited lax regulation to expand into the U.S. market and financed unsustainable bubbles on both continents. U.S. banks increasingly sold sub-par loans to under-regulated European and U.S. shadow banks and, when the bubbles burst, the losses whipsawed back to the core of the European banking system. A much-needed, fresh look at the origins of the crisis, Bayoumi’s analysis concludes that policy makers are ignorant of what still needs to be done both to complete the cleanup and to prevent future crises.

Megabank Consolidations in the United States

Ashford Maharaj
Megabank Consolidations in the United States Book PDF

Author : Ashford Maharaj
Publisher : iUniverse
Page : 209 pages
File Size : 54,8 Mb
Release : 2005-07
Category : Bank mergers
ISBN : 9780595356409

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Megabank Consolidations in the United States by Ashford Maharaj Pdf

Megabank consolidations in the United States: The enigma continues, investigates merger of equals among megabanks as a business model and also postulates that higher premiums are paid for the right to integrate with the very large banks versus that paid for the right to integrate with relatively smaller banks. By introducing merger of equals and megabank premium comparatives, the author has filled a void left vacant by previous researchers investigating inorganic growth among banks in the U.S. banking industry. Decision makers, academicians, policy makers, and students of finance will once more be looking for "what is out there" in order to guide understandings and decisions re the integration aspects among financial intermediaries. The book sought to illuminate a clarity of understanding involving the analysis and interpretation of organic versus inorganic growth among megabanks in the United States. Despite the general destruction of shareholders incremental value brought about through inorganic growth, the enigma continues in that banks proceed to integrate at an accelerating pace over the past two decades, though there was a brief lull early in this new Millennium.

The Political Economy of Bank Regulation in Developing Countries

Emily Jones
The Political Economy of Bank Regulation in Developing Countries Book PDF

Author : Emily Jones
Publisher : Oxford University Press
Page : 405 pages
File Size : 52,7 Mb
Release : 2020
Category : Political Science
ISBN : 9780198841999

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The Political Economy of Bank Regulation in Developing Countries by Emily Jones Pdf

This is an open access title available under the terms of a CC BY-NC-ND 4.0 International licence. It is free to read at Oxford Scholarship Online and offered as a free PDF download from OUP and selected open access locations.International banking standards are intended for the regulation of large, complex, risk-taking international banks with trillions of dollars in assets and operations across the globe. Yet they are being implemented in countries with nascent financial markets and small banks that have yet to ventureinto international markets. Why is this? This book develops a new framework to explain regulatory interdependence between countries in the core and the periphery of the global financial system. Drawing on in-depth analysis of eleven countries across Africa, Asia, and Latin America, it shows howfinancial globalisation generates strong reputational and competitive incentives for developing countries to converge on international standards. It explains how specific cross-border relations between regulators, politicians, and banks within developing countries, and international actors includinginvestors, peer regulators, and international financial institutions, generate regulatory interdependence. It explains why some configurations of domestic politics and forms of integration into global finance generate convergence with international standards, while other configurations lead todivergence. This book contributes to our understanding of the ways in which governments and firms in the core of global finance powerfully shape regulatory decisions in the periphery, and the ways that governments and firms from peripheral developing countries manoeuvre within the constraints andopportunities created by financial globalisation.

Harvard Law Review: Volume 127, Number 7 - May 2014

Harvard Law Review
Harvard Law Review Volume 127 Number 7 May 2014 Book PDF

Author : Harvard Law Review
Publisher : Quid Pro Books
Page : 542 pages
File Size : 49,6 Mb
Release : 2014-05-10
Category : Law
ISBN : 9781610278690

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Harvard Law Review: Volume 127, Number 7 - May 2014 by Harvard Law Review Pdf

The Harvard Law Review, Number 7 (May 2014), includes an article, two book review essays, and extensive student research. Specifically, the issue features: * Article, "The Due Process Exclusionary Rule," by Richard M. Re * Book Review, "Consent and Sensibility," by Michelle E. Boardman * Book Review, "The Politics of Financial Regulation and the Regulation of Financial Politics: A Review Essay," by Adam J. Levitin * Note, "Judicial Review of Agency Change" * Note, "Live Free and Nullify: Against Purging Capital Juries of Death Penalty Opponents" In addition, case notes explore Recent Cases on such diverse subjects as whether PASPA is an appropriate exercise of congressional power; antitrust immunity for a state dental board; "bad faith" requirement in WIPO domain name arbitrations; whether a Guantanamo prisoner was properly detained as "part of" enemy forces; whether a state court may remove a domestic violence convict's federal firearms disability; whether recognition of foreign governments is an exclusive executive power; and warrantless access to cell-site location information. Finally, the issue features two summaries of Recent Publications. The Harvard Law Review is offered in a quality digital edition, featuring active Contents, linked notes, active URLs in notes, and proper ebook and Bluebook formatting. The Review is a student-run organization whose primary purpose is to publish a journal of legal scholarship.

Fragile by Design

Charles W. Calomiris,Stephen H. Haber
Fragile by Design Book PDF

Author : Charles W. Calomiris,Stephen H. Haber
Publisher : Princeton University Press
Page : 584 pages
File Size : 48,5 Mb
Release : 2015-08-04
Category : Business & Economics
ISBN : 9780691168357

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Fragile by Design by Charles W. Calomiris,Stephen H. Haber Pdf

Why stable banking systems are so rare Why are banking systems unstable in so many countries—but not in others? The United States has had twelve systemic banking crises since 1840, while Canada has had none. The banking systems of Mexico and Brazil have not only been crisis prone but have provided miniscule amounts of credit to business enterprises and households. Analyzing the political and banking history of the United Kingdom, the United States, Canada, Mexico, and Brazil through several centuries, Fragile by Design demonstrates that chronic banking crises and scarce credit are not accidents. Calomiris and Haber combine political history and economics to examine how coalitions of politicians, bankers, and other interest groups form, why they endure, and how they generate policies that determine who gets to be a banker, who has access to credit, and who pays for bank bailouts and rescues. Fragile by Design is a revealing exploration of the ways that politics inevitably intrudes into bank regulation.

Principles of Financial Regulation

John Armour,Daniel Awrey,Paul Lyndon Davies,Luca Enriques,Jeffrey Neil Gordon,Colin P. Mayer,Jennifer Payne
Principles of Financial Regulation Book PDF

Author : John Armour,Daniel Awrey,Paul Lyndon Davies,Luca Enriques,Jeffrey Neil Gordon,Colin P. Mayer,Jennifer Payne
Publisher : Oxford University Press
Page : 698 pages
File Size : 53,6 Mb
Release : 2016
Category : Law
ISBN : 9780198786474

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Principles of Financial Regulation by John Armour,Daniel Awrey,Paul Lyndon Davies,Luca Enriques,Jeffrey Neil Gordon,Colin P. Mayer,Jennifer Payne Pdf

The financial crisis of 2007-9 revealed serious failings in the regulation of financial institutions and markets, and prompted a fundamental reconsideration of the design of financial regulation. As the financial system has become ever-more complex and interconnected, the pace of evolution continues to accelerate. It is now clear that regulation must focus on the financial system as a whole, but this poses significant challenges for regulators. Principles of Financial Regulation describes how to address those challenges. Examining the subject from a holistic and multidisciplinary perspective, Principles of Financial Regulation considers the underlying policies and the objectives of regulation by drawing on economics, finance, and law methodologies. The volume examines regulation in a purposive and dynamic way by framing the book in terms of what the financial system does, rather than what financial regulation is. By analysing specific regulatory measures, the book provides readers to the opportunity to assess regulatory choices on specific policy issues and encourages critical reflection on the design of regulation.

Doug Peters

David W. Peters
Doug Peters Book PDF

Author : David W. Peters
Publisher : FriesenPress
Page : 233 pages
File Size : 50,5 Mb
Release : 2020-12-16
Category : Biography & Autobiography
ISBN : 9781525593994

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Doug Peters by David W. Peters Pdf

Doug Peters was one of the most prominent business economists in Canada between 1966 and 1992 in his role as chief economist of the Toronto Dominion Bank. He was an outspoken critic of the economic policies of the Progressive Conservative government during the last part of his career. Instead of retiring peacefully in 1992, he decided he wanted to help change economic policy in Canada, and ran for parliament in 1993. From 1993 to 1997, he was the parliament member for Scarborough East and secretary of state for international financial institutions in the Liberal government. Doug Peters: Bay Street Economist on Parliament Hill is the life story of Doug Peters, written by his son, David Peters, but largely based on Doug’s unpublished memoirs. Doug did not follow a conventional career path for a business economist. As a teenager, Doug flunked out of university twice. He then spent ten years working in retail banking. With a more serious, mature attitude in his thirties, Doug went back to university. He was the top student in his Commerce class when he graduated in 1963. He then went on to graduate studies at the University of Pennsylvania, where he received a PhD in 1969. This book tells many interesting stories from Doug’s life. Some of the stories are quite amusing, while other stories tell about important decisions that Doug was involved in.