Commentaire :

ISBN 13 : 978-1118829592

Sommaire :
Preface

Is Finance in a Stage of Permanent Crisis?
Global Markets Are Interconnected
Regulating Finance in a World in Crisis
A Web of Institutional Complexity
Will Global Financial Regulation Become Lex America?
Applying Global Regulatory Convergence
Regulator and Regulated: The Infernal Couple
Finance Cannot Be Left Unregulated
Five Years after Lehman, Regulation
Could Not Change the Culture
A Culture of Outlaws
I Will Never Give Up
Notes

CHAPTER 1 The Multiple Objectives of Financial Regulation
Stop (Ab)using Taxpayer Money
Protect Retail and Small Investors and Depositors
Ensure Transparency of Markets and Institutions
Implement a Truly Risk-Adjusted Remuneration System
Protect Deposits from Trading
Notes

CHAPTER 2 A Quarter Century of Banking Crises and the Evolution of Financial Institutions 11
Banking Crises Are Not Exactly a Recent Phenomenon
The Two Main Emerging-Market Crises
Subprime Crisis
Lehman Crisis
European Sovereign Debt Crisis
European Banking Crisis
LIBOR Manipulation
Will the Foreign Exchange Market Be Next?
Notes

CHAPTER 3 The Lessons of the Recent Financial Crises: The Explosion of Balance Sheets
Structural Overbanking of Europe
Lack of Transparency of the Derivative Markets
Emergence of the Credit Default Swap (CDS) Market
The Regulatory Landscape Is Not Global but Largely National
Notes

CHAPTER 4 Global Financial Regulation: The Institutional Complexities
Group of 20 (G20)
Financial Stability Board (FSB)
Bank for International Settlements (BIS) and the Basel Committee (BCBS)
International Monetary Fund (IMF)
International Organization of Securities Commissions (IOSCO)
International Accounting Standard Board (IASB)
International Association of Insurance Supervisors (IAIS)
Notes

CHAPTER 5 Capital Adequacy, Liquidity, and Leverage Ratios: Sailing toward the Basel III Rules
Part I: Capital Adequacy
Part II: Liquidity
Part III: Leverage
Notes

CHAPTER 6 Assessing Likely Impacts of Regulation on the Real Economy 69
Notes

CHAPTER 7 Regulating the Derivatives Market
Origin of the Derivatives Market
Size of the Derivatives Markets
U.S. Regulation: Dodd-Frank Act
European Market Infrastructure
Regulation (EMIR)
Transatlantic Divergences
Short Selling Is a Form of Derivative
JPMorgan Chase London Trading Losses
Notes
CHAPTER 8 The Structure of Banking: How Many Degrees of Separation?
Systemically Important Financial Institutions (SIFIs)
Universal Banking Model
Separation Models
United Kingdom
United States
European Union
Sw+itzerland
Volcker Rule and Proprietary Trading
Too Big to Fail (TBTF): Is Size the Problem?
Prohibit the Trading of Commodities by Banks
Notes

CHAPTER 9 Banking Resolution and Recovery
Moral Hazard
Can the Bail-In Concept Avoid Taxpayers' Bailout?
Lessons from the Financial Crisis
Living Will, or How Banks Want to Be Treated if They Are Close to Collapsing
United States
The Citi Recovery Plan
Role of the Federal Deposit Insurance Corporation in the United States
United Kingdom
European Banking Resolution and Recovery Directive
Regulatory Technical Standards
Can Resolution Rules Be Effective?
An Impossible European Institutional Challenge
Who Will Decide to Put Companies
Under Resolution Surveillance?
Notes

CHAPTER 10 Banking and Shadow Banking
Hedge Funds
United States
Europe
Other Types of Shadow Banking
Capital Markets and Securitization
Notes

CHAPTER 11 Rating Agencies and Auditors
Part I: The Rating Agencies
Part II: External Auditors
Part III: The Limits of Accountability
Notes

CHAPTER 12 Central Banks as Lenders of Last Resort Have a Conflict of Interest with Their Regulatory Role
Financial Stability
United States: Quantitative Easing
European Central Bank: The Long-Term
Refinancing Operations (LTROs)
United Kingdom
Japan and Abenomics
Are Central Banks Balance Sheets Eternally Expandable? Have They Become Hedge Funds?
Is This Novation of Central Banks Legitimate or Legal?
Notes

CHAPTER 13 Financial Institution Governance (or Lack Thereof)
Risk Management
Dysfunctional Boards of Directors
Should the Chairperson Also Be the CEO?
Remuneration and Risks
Personal or Institutional Accountability
Notes

CHAPTER 14 Was It a Global Crisis? The Asian Perspective
Japan
China
India
Assessing the Asian Risk
Notes

CHAPTER 15 The Challenges of Global Regulation
Regulation, Policies, and Politics
Regulators and Sovereign Financing
European Central Bank Supervision:
The E.U. Governance Challenges
The Risks of Regulatory Fragmentation
Bank Resolution: The Legal Nightmare
Basel III
Reemergence of Capital Markets
Restructuring Finance
Should Financial Communication Be Regulated?
Should Financial Media Respect a Code of Conduct?
Financial Education Is Key
Notes

CHAPTER 16 Regulation and Ethics
Management Integrity
Accountability
Transparency Is Key
A Principled Regulatory System Is Needed
Doing the Right Thing
Notes

CONCLUSION
What Can We Expect?
A Few Books I Read and Found Helpful . . .
About the Author
Index

Nbre volumes : 0

Langue : Anglais

Collection : FINANCE SERIES

Lieu d'édition : TORONTO

Localisation : Bibliothèque Campus de Nice

Support : Papier

Etat : Présent

Propriétaire : Bibliothèque