Banking Books
HarperCollins Publishers When Genius Failed: The Rise and Fall of Long
Book SynopsisPicking up where Liar’s Poker left off (literally, in the bond dealer’s desks of Salomon Brothers) the story of Long-Term Capital Management is of a group of elite investors who believed they could beat the market and, like alchemists, create limitless wealth for themselves and their partners. Founded by John Meriweather, a notoriously confident bond dealer, along with two Nobel prize winners and a floor of Wall Street’s brightest and best, Long-Term Captial Management was from the beginning hailed as a new gold standard in investing. It was to be the hedge fund to end all other hedge funds: a discreet private investment club limited to those rich enough to pony up millions. It became the banks’ own favourite fund and from its inception achieved a run of dizzyingly spectacular returns. New investors barged each other aside to get their investment money into LTCM’s hands. But as competitors began to mimic Meriweather’s fund, he altered strategy to maintain the fund’s performance, leveraging capital with credit on a scale not fully understood and never seen before. When the markets in Indonesia, South America and Russia crashed in 1998 LCTM’s investments crashed with them and mountainous debts accumulated. The fund was in melt-down, and threatening to bring down into its trillion-dollar black hole a host of financial instiutions from New York to Switzerland. It’s a tale of vivid characters, overwheening ambition, and perilous drama told, in Roger Lowenstein’s hands, with brilliant style and panache.Trade Review'A must-read thriller for anyone who works, or invests in markets. It is a story of how arrogance can drive greed and fear to extremes.' Scotsman 'Richly textured and lucid…A riveting account that reaches beyond the market landscape to say something universal about risk and triumph, about hubris and failure.' New York Times 'Lowenstein has written a squalid and fascinating tale of world-class greed and, above all, hubris.' Business Week 'This book is story-telling journalism at its best' The Economist
£10.44
Fingerprint! Publishing The Wealth of Nations
Book Synopsis
£21.24
Mango Media Conceptos básicos de Bitcoins y Blockchains: una
Book SynopsisAprende sobre invertir en Bitcoin, blockchains, y criptomonedas“Antony nos ayuda a entender claramente los mecanismos de bitcoins y blockchains.” —Rob Findlay, fundador de Next MoneyEl autor más vendido en inversión de derivados financieros, industria extractiva de recursos naturales, futuros, bancos y bancas, energía y minas, y política monetaria.Hay mucha información sobre criptomonedas y blockchains, pero para un principiante, esto puede ser indescifrable. Conceptos básicos sobre bitcoins y blockchains ofrece una guía clara sobre carteras digitales, esta nueva moneda y la tecnología revolucionaria que la impulsa.Bitcoin, Ethereum, Altcoin, criptografía y otras criptomonedas. Gana entendimiento de temas relacionados a Bitcoin, precio Bitcoin, moneda Bitcoin, minería Bitcoin, invertir en Bitcoin y los Bitcoins blockchains. Aprende cómo se realizan los pagos y cómo establecer el valor de las criptomonedas y de los tokens digitales.Aprende qué es blockchain. ¿Cómo funciona? ¿Y por qué es importante? Conceptos básicos sobre bitcoins y blockchains da respuestas a estas preguntas y más.Aprende sobre minería de criptomonedas y criptomonedas. Conceptos básicos sobre bitcoin y blockchains ofrece una perspectiva confiable de cómo invertir en Bitcoin y otras criptomonedas. Descubre los riesgos y las estrategias de mitigación, aprende cómo comprar Bitcoins, identificar estafas, y entender el cambio de criptomonedas, billeteras digitales, y regulaciones.Aprende sobre: Tecnología blockchain y a invertir en Bitcoin. Cómo trabajar en el mercado de las criptomonedas. La evolución y los impactos potenciales del Bitcoin y los blockchains a nivel mundial. Si has leído Descubre Blockchain, Blockchain Bubble or Revolution, Bitcoin Clarity, The Bitcoin Book, y Bitcoin and Cryptocurrency Trading for Beginners, entonces vas a aprender mucho con Conceptos básicos sobre bitcoins y blockchains.Trade Review“Una lectura útil, utilizable y agradable. Antony nos ayuda a entender claramente los mecanismos de bitcoins y blockchains”. —Rob Findlay, fundador de Next Money“Mi familia me pidió que les explicara lo que hago, y les di una copia de este libro. Antony explica las tecnologías de criptomonedas y blockchains clara y articuladamente, a la vez que mantiene su ingenio". —Colin Platt, coanfitrión del podcast Blockchain Insider e investigador de criptomonedas y DLT (Tecnología de libro contable distribuido)“Uno de los pocos libros creíbles que sugiero cuando la gente me pregunta dónde puede aprender sobre bitcoins. Es un libro excelente y sensato sobre todo lo relacionado con la criptografía. Estuve en el espacio por un buen tiempo y aun así aprendí de Conceptos básicos de bitcoins y blockchains”. —Zennon Kapron, director gerente de Kapronasia“Una guía interesante, clara y autorizada sobre las aplicaciones e implicaciones de las blockchains”. —Greg Wolfson, jefe de desarrollo empresarial de Element Group“El primer libro que he visto que rompe conceptos. Una excelente percepción de los conocimientos clave y las implicancias en el mundo real de bitcoins y blockchains”. —Zennon Kapron, director gerente de Kapronasia“Un gran recurso para cualquiera que quiera entender de qué se tratan realmente las blockchains y las criptomonedas.”—Paul Griffin, profesor asociado de la Escuela de Sistemas de Información de la Universidad de Gestión de Singapur“Einstein dijo que ‘si no puedes explicarlo simplemente, entonces no lo entiendes suficientemente bien’. Antony comprende y articula claramente los fundamentos de las criptomonedas y las tecnologías blockchain”. —Colin Platt, coanfitrión del podcast Blockchain Insider e investigador de criptomonedas y DLT (Tecnología de libro contable distribuido)“Una visión general de los principios básicos. Una de las pocas lecturas recomendadas para mis nuevos empleados”.—Yusho Liu, cofundador de Coinhako “Una lectura agradable que acaba con las expectaciones, encuentra la señal en el medio del ruido y va a toda máquina de adelante hacia atrás”. —John Collins, asesor de Fintech
£14.24
Simon & Schuster The Lords of Easy Money: How the Federal Reserve
Book SynopsisThe New York Times bestseller from business journalist Christopher Leonard infiltrates one of America’s most mysterious institutions—the Federal Reserve—to show how its policies spearheaded by Chairman Jerome Powell over the past ten years have accelerated income inequality and put our country’s economic stability at risk.If you asked most people what forces led to today’s unprecedented income inequality and financial crashes, no one would say the Federal Reserve. For most of its history, the Fed has enjoyed the fawning adoration of the press. When the economy grew, it was credited to the Fed. When the economy imploded in 2008, the Fed got credit for rescuing us. But here, for the first time, is the inside story of how the Fed has reshaped the American economy for the worse. It all started on November 3, 2010, when the Fed began a radical intervention called quantitative easing. In just a few short years, the Fed more than quadrupled the money supply with one goal: to encourage banks and other investors to extend more risky debt. Leaders at the Fed knew that they were undertaking a bold experiment that would produce few real jobs, with long-term risks that were hard to measure. But the Fed proceeded anyway…and then found itself trapped. Once it printed all that money, there was no way to withdraw it from circulation. The Fed tried several times, only to see the market start to crash, at which point the Fed turned the money spigot back on. That’s what it did when COVID hit, printing 300 years’ worth of money in a few short months. Which brings us to now: Ten years on, the gap between the rich and poor has grown dramatically, inflation is raging, and the stock market is driven by boom, busts, and bailouts. Middle-class Americans seem stuck in a stage of permanent stagnation, with wage gains wiped out by high prices even as they remain buried under credit card debt, car loan debt, and student debt. Meanwhile, the “too big to fail” banks remain bigger and more powerful than ever while the richest Americans enjoy the gains of a hyper-charged financial system. The Lords of Easy Money “skillfully” (The Wall Street Journal) tells the “fascinating” (The New York Times) tale of how quantitative easing is imperiling the American economy through the story of the one man who tried to warn us. This is the first inside story of how we really got here—and why our economy rests on such unstable ground.Trade Review"A fascinating page-turner....There’s something undeniably gratifying about an elegantly crafted morality tale — and the business reporter Christopher Leonard has written a good one....A fascinating and propulsive story about the Federal Reserve — yes, you read that right. Leonard, in the tradition of Michael Lewis, has taken an arcane subject, rife with the risk of incomprehensibility (or boredom), and built a riveting narrative in which the stakes couldn’t be any clearer."– The New York Times "Skillfully tells the story of how, over several decades, a phalanx of economic sophisticates at the Fed have badly misunderstood the U.S. economy and often come up with policies that fail to produce the intended results." – The Wall Street Jornal "A timely addition—appearing just as inflation is making headlines....Leonard writes vividly about a technical subject....By focusing on a regional banker, Leonard offers a refreshingly non-Washington view....The author is surely correct that many Americans view the Fed as an unelected power aligned with elites, perhaps contributing to the disaffection that exploded on Jan. 6, 2021."– The Washington Post "It’s tough to turn the nuances of monetary policy into personality-driven narrative. But Christopher Leonard has succeeded in doing just that with The Lords of Easy Money....He turns [an] unassuming economist into the protagonist of a compelling tale about how the Federal Reserve changed the entire nature of the American economy... Weaving together narrative non-fiction with big ideas can be difficult. One of the best things about this book is that through Hoenig, Leonard, a business journalist, is able to tell the whole, complicated half-century story of how we got to where we are now in a way that isn’t at all wonky. There are real people here, making real decisions about the real world." – The Financial Times "[A] bracing and closely reported chronicle....Leonard’s book is an indispensable account in many respects—his coverage of the invisible bailout of the repo market alone stands as a bracing case study in how the false pieties of quantitative easing directly stoked ruinous asset bubbles. But Leonard is also that rarest of financial reporters who conscientiously tracks the real-life consequences of the Olympian deliberations undertaken by the paper economy’s gatekeepers....richly reported, accessible, biting, and long-overdue." – The New Republic "The book is a timely read to understand what could happen next through a thorough analysis of what this policy intervention looks like on the ground."– Enterprise: The State of the Nation "We get his point and it is a good one. This has been an era of loose money and the benefits have been very unevenly distributed... The office politics of the Fed are well captured by Leonard, as is the intimidating physical setting." – The New York Times "Leonard is skilled at explaining complicated financial maneuvering in a way normal people can understand... A good reminder of how uncertain a lot of monetary policy is." – The Washington Free Beacon“Leonard's wonderfully readable new book is about one of the most important, yet least covered and least understood, changes in American life. That's the effect of the dramatically increased role in financial markets played by the Federal Reserve. As Leonard convincingly argues, it might be nothing short of catastrophic.” — Bethany McLean, New York Times bestselling co-author of The Smartest Guys in the Room “An essential, engrossing and, above all, human tale featuring the central banker who dared to dissent from the party line and a factory worker whose sufferings are traceable to that dissident’s failure to carry his case. A monetary page-turner? Christopher Leonard has actually produced one.” — James Grant, founder and editor of Interest Rate Observer “Thanks to Leonard's gripping narrative, I now have a new monetary hero: former Fed governor Tom Hoenig. If, like me, you are desperate to understand how we got into this predicament, The Lords of Easy Money is required reading.” — William D. Cohan, New York Times bestselling author of House of Cards “Leonard’s richly reported and provocative exploration will have you reassessing whether the Fed built on a solid foundation or on air.”— Jesse Eisinger, Pulitzer Prize winning author of The Chickenshit Club “An eye-opener. Well-researched and engaging, it brings to life consequential issues that influence the current and future wellbeing of most Americans... How this journey ends has important implications not just for the United States but also globally.” — Mohamed A. El-Erian, New York Times bestselling author of The Only Game in Town and president of Queens’ College, Cambridge University.
£9.49
Usborne Publishing Ltd Money for Beginners
Book SynopsisAn informative introduction to the world of money, covering everything from bank accounts, earning and borrowing to government spending, taxes and inflation. With bright, infographic pictures, a detailed glossary and links to specially selected websites where you can visit a virtual bank, see money from around the world and more.Table of ContentsWhat is money?How money movesMoney around the worldMoney customsChapter 1: How money worksWhat makes cash, banknotes and anything else count as money? And why do we all trust it?Chapter 2: The story of moneyMoney has existed long before the first coins were made, and over the centuries it has taken on many unusual forms. How did it all come about?Chapter 3: In the bankAlmost every adult has a bank account - but why? What do banks actually do? Are there any alternatives? And was it really the banks' fault that the world suffered a financial meltdown in 2008?Chapter 4: Earning and borrowingDon't have any money? No problem! Almost anyone can get hold of some money, by working for it, or borrowing from someone who has it. Chapter 5: Spending, growing and givingSome people spend everything they have very quickly. Others prefer to save up. If you have some money to spare, you should give it away to charity - shouldn't you?Chapter 6: Governments and moneyTaxes, deficits, inflation, deflation, quantitative easing - what does it all mean, and who's in charge?Chapter 7: Big questionsHow to be a billionaire, how to buy happiness, how to make the world a fairer place - and other important questions that nobody knows the answers to - yet.What next?GlossaryIndexAcknowledgements
£9.49
Cornerstone Can’t We Just Print More Money?: Economics in Ten
Book Synopsis'If you feel you should understand how economists think but have no idea where to start, this book is the answer' Financial TimesWhy are all my clothes made in Asia?How do I get a pay-rise?And what even is money?Join Britain's most venerable financial institution for a rip-roaring crash-course on economics. From financial crises to Freddo prices, it will help you make sense of your job, your life and maybe your world._'A well-written treat . . . Using examples including the Bank of England canteen, The Simpsons and Beanie Babies, the authors encourage us all to understand, and even challenge, what economists do' Professor David Spiegelhalter, author of The Art of Statistics'A well-timed attempt to show the public what goes on inside the Bank of England - and familiarise them with some basic economic concepts . . . Punctuated with jaunty anecdotes and neat examples' Guardian'An entertaining and essential read at a time when understanding how our money, governments and banks interact has never felt more important' Laura Whateley, author of Money: A User's GuideTrade ReviewIf you feel you should understand how economists think but have no idea where to start, this book is the answer . . . The Bank should be congratulated on this effort at education. Buy this book for the inquiring person, young, old or in between. -- Martin Wolf, Summer Books * Financial Times *A well-written treat . . . Using examples including the Bank of England canteen, The Simpsons and Beanie Babies, the authors encourage us all to understand, and even challenge, what economists do. -- Professor David Spiegelhalter, author of THE ART OF STATISTICSAn enjoyable introduction to the so-called dismal science . . . Patel and Meaning have done an admirable job in simplifying and popularising some of the key elements of their subject. * The Times *A great place to start your economic journey. With the Bank of England as your guide, this accessible book shows how economics affects so many aspects of our daily lives. -- Dr Linda Yueh, author of THE GREAT ECONOMISTSA well-timed attempt to show the public what goes on inside the Bank of England - and familiarise them with some basic economic concepts . . . Punctuated with jaunty anecdotes and neat examples. * Guardian *
£10.44
Pan Macmillan Meltdown
Book SynopsisDuncan Mavin is a seasoned international financial journalist, having started his career as a chartered accountant in the City and in Toronto. He has been a reporter and editor for The Wall Street Journal and The Washington Post, and was the Journal's Financial Editor for Europe, the Middle East and Africa. He has also been Managing Editor for Barron's Group and a reporter for Canada's National Post, and is the bestselling author of Britain's version of Bad Blood', the Lex Greensill exposé Pyramid of Lies. He lives with his family in the UK and is a long-suffering fan of Sunderland football club. Meltdown is his second book.
£10.79
John Wiley & Sons Inc The Bitcoin Standard
Book SynopsisTable of ContentsAbout the Author xi Foreword xiii Prologue xv Chapter 1 Money 1 Chapter 2 Primitive Moneys 11 Chapter 3 Monetary Metals 17 Why Gold? 19 Roman Golden Age and Decline 25 Byzantium and the Bezant 28 The Renaissance 29 La Belle Époque 34 Chapter 4 Government Money 41 Monetary Nationalism and the End of the Free World 43 The Interwar Era 47 World War II and Bretton Woods 53 Government Money’s Track Record 60 Chapter 5 Money and Time Preference 73 Monetary Inflation 81 Saving and Capital Accumulation 90 Innovations: “Zero to One” versus “One to Many” 96 Artistic Flourishing 98 Chapter 6 Capitalism’s Information System 105 Capital Market Socialism 109 Business Cycles and Financial Crises 113 Sound Basis for Trade 126 Chapter 7 Sound Money and Individual Freedom 135 Should Government Manage the Money Supply? 136 Unsound Money and Perpetual War 145 Limited versus Omnipotent Government 149 The Bezzle 155 Chapter 8 Digital Money 167 Bitcoin as Digital Cash 168 Supply, Value, and Transactions 177 Appendix to Chapter 8 191 Chapter 9 What Is Bitcoin Good For? 193 Store of Value 193 Individual Sovereignty 200 International and Online Settlement 205 Global Unit of Account 212 Chapter 10 Bitcoin Questions 217 Is Bitcoin Mining a Waste? 217 Out of Control: Why Nobody Can Change Bitcoin 222 Antifragility 230 Can Bitcoin Scale? 232 Is Bitcoin for Criminals? 238 How to Kill Bitcoin: A Beginners’ Guide 241 Altcoins 251 Blockchain Technology 257 Acknowledgements 273 Bibliography 275 List of Figures 282 List of Tables 284 Index 285
£21.21
HarperCollins Publishers The Hour Between Dog and Wolf
Book SynopsisNow shortlisted for the 2012 Financial Times Business Book of the Year Award and the Wellcome Trust Book Prize, The Hour Between Dog and Wolf is a resonant exploration of economic behaviour and its consequences.Shortlisted for the 2012 Financial Times and Goldman Sachs Business Book of the Year Award and the Wellcome Trust Book Prize, this startling and unconventional book from neuroscientist and former Wall Street trader John Coates shows us the bankers in their natural environment, revealing how their biochemistry has a lasting and significant impact on our economy.We learn how risk stimulates the most primitive part of the banker's brain and how making the deals our bank balances depend on provokes an overwhelming fight-or-flight response. Constant swinging between aggression and apprehension impairs their judgment, causing economic upheaval in the wider world. The transformation between each split-second decision is what Coates calls the hour between dog and wolf, and understandingTrade Review‘This brilliant book shows how human biology contributes to the alternating cycles of irrational exuberance and pessimism that destabilise banks and the global economy – and how the system could be calmed down by applying biological principles … Should be top of the summer reading list for Jamie Dimon, chief executive of JPMorgan, and anyone else wondering why traders so often get banks into trouble’ Financial Times ‘This stunning book… should be compulsory reading for anyone concerned about the behaviour of those involved in the lying and manipulation of those involved in the lying and manipulation of successive banking scandals’ Mail on Sunday ‘If Coates is right- the evidence he presents is compelling- then the financial; crises that so frequently plague capitalism find their roots in human biology’ New Scientist Magazine ‘The picture of humans as rational economic machines has gone down the tubes. This book looks at the biology of why Homo economicus is a myth, and no one is better positioned to write this than Coates – he is a neuroscientist and an economist and an ex-Wall Street trader and a spectacular writer. A superb book’ Robert Sapolsky, Professor of Neurology, Stanford University, and author of Why Zebras Don't Get Ulcers ‘A terrific read – better than any amount of economic analysis because it explains what lies at the root of economic disaster – those biological drivers that cause sane and clever people to make catastrophic decisions. Every banker should be made to read it!’ Rita Carter, author of Mapping the Mind ‘It makes intuitive sense that biological responses inform the mood of the markets. This book puts flesh on that idea’ Economist
£11.69
Springer Nature Switzerland AG Fintech, Small Business & the American Dream: How
Book SynopsisSmall businesses are the backbone of the U.S. economy. They are the biggest job creators and offer a path to the American Dream. But for many, it is difficult to get the capital they need to operate and succeed. In the Great Recession, access to capital for small businesses froze, and in the aftermath, many community banks shuttered their doors and other lenders that had weathered the storm turned to more profitable avenues. For years after the financial crisis, the outlook for many small businesses was bleak. But then a new dawn of financial technology, or “fintech,” emerged. Beginning in 2010, new fintech entrepreneurs recognized the gaps in the small business lending market and revolutionized the customer experience for small business owners. Instead of Xeroxing a pile of paperwork and waiting weeks for an answer, small businesses filled out applications online and heard back within hours, sometimes even minutes. Banks scrambled to catch up. Technology companies like Amazon, PayPal, and Square entered the market, and new possibilities for even more transformative products and services began to appear.In Fintech, Small Business & the American Dream, former U.S. Small Business Administrator and Senior Fellow at Harvard Business School, Karen G. Mills, focuses on the needs of small businesses for capital and how technology will transform the small business lending market. This is a market that has been plagued by frictions: it is hard for a lender to figure out which small businesses are creditworthy, and borrowers often don’t know how much money or what kind of loan they need. New streams of data have the power to illuminate the opaque nature of a small business’s finances, making it easier for them to weather bumpy cash flows and providing more transparency to potential lenders.Mills charts how fintech has changed and will continue to change small business lending, and how financial innovation and wise regulation can restore a path to the American Dream. An ambitious book grappling with the broad significance of small business to the economy, the historical role of credit markets, the dynamics of innovation cycles, and the policy implications for regulation, Fintech, Small Business & the American Dream is relevant to bankers, fintech investors, and regulators; in fact, to anyone who is interested in the future of small business in America. Trade Review“Karen Mill’s outstanding new book: FinTech, Small Business & the American Dream, a smart, savvy, and useful landscape of lending, fintech, and small business. Mills knows how the engine of small business powers the U.S. and her recommendations about how to sustain it through technology are thoughtful and direct. Her observations about how small banks can anchor communities are especially astute and important.” (Lawrence Gennari, Boston Business Journal, August 30, 2019)Table of Contents
£26.59
Marshall Cavendish International (Asia) Pte Ltd Driving Digital Transformation: Lessons from
Book SynopsisTraditional banks are facing unprecedented disruption from challenger banks today. So why aren’t more of them launching challenger banks of their own? Well, two high-profile examples – JP Morgan’s Finn and RBS’s Bo – were launched with much fanfare, but both shuttered after less than a year. In light of this, the success of TMRW digital bank by UOB, launched in Thailand in 2019 and Indonesia in 2020, is astonishing. Dr Dennis Khoo, who created TMRW, shares with us the thinking behind the design of this revolutionary undertaking. At every step of the way, he and his team went against established paradigms and bucked conventional wisdom to build ASEAN’s first digital bank. Filled with visionary analysis and on-the-ground guidance, Driving Digital Transformation demonstrates how this success can be replicated across all industries. For any leader or organisation starting on a major digital initiative, this book is a must-read. What makes this playbook particularly valuable is that it is written by Dennis Khoo, one of the sharpest minds in the industry. – Mary Huen, CEO, Standard Chartered Hong Kong
£15.99
Marshall Cavendish International (Asia) Pte Ltd Digital for Good: Stand for Something... or You
Book SynopsisTrade Review"One of the most authoritative voices on Fintech anywhere." --Seth Wheeler, Former Special Assistant to the President for Economic Policy at the White House
£15.99
Pan Macmillan Meltdown
Book SynopsisDuncan Mavin is a seasoned international financial journalist, having started his career as a chartered accountant in the City and in Toronto. He has been a reporter and editor for The Wall Street Journal and The Washington Post, and was the Journal's Financial Editor for Europe, the Middle East and Africa. He has also been Managing Editor for Barron's Group and a reporter for Canada's National Post, and he's the bestselling author of "Britain's version of Bad Blood", the Lex Greensill exposé Pyramid of Lies. He lives with his family in the UK, and is a long-suffering fan of Sunderland football club.
£18.70
Ebury Publishing Secrets of Sand Hill Road
Book SynopsisSCOTT KUPOR is managing partner at Andreessen Horowitz. He has overseen the firm?s rapid growth to one hundred fifty employees and more than $7 billion in assets under management. He is also a cofounder and codirector of the Stanford Venture CapitalTrade ReviewWorth far more than its cover price ... I wish I’d had it available to me when I was first looking for startup funding * ERIC RIES, bestselling author of tHE LEAN STARTUP and THE STARTUP WAY, from the foreword *As someone who helped a small company become a huge, valuable company, I know firsthand the power of the startup ecosystem and entrepreneurship. This is the definitive book on navigating VC as part of that * ERIC SCHMIDT, former executive chairman and CEO, Google; technical advisor, Alphabet Inc *I’ve observed thousands of founders and thought a lot about what it takes to create something important and to achieve outlier success. Kupor’s book takes founders who want to do both through everything from how VCs raise money and evaluate deals, to how to think about term sheets and set up boards. It’s a valuable resource for any founder who wants to work with VCs * SAM ALTMAN, partner and president, Y Combinator; cofounder, OpenAI *Secrets of Sand Hill Road is the definitive guide to how to engage the VC community, including governance and other best practices, in a startup’s journey to a successful public company * ADENA FRIEDMAN, president and CEO, Nasdaq; former managing director and CFO, The Carlyle Group *From acquiring startups, to leading a company, to working to select the next leader of an iconic company, I’ve seen it all. It’s become clear to me that startups drive the kind of innovation that big companies can’t easily do. Secrets of Sand Hill Road provides a useful overview for the next generation of leaders seeking to start such companies * JOHN W. THOMPSON, chairman, Microsoft; former CEO, Symantec *
£17.00
Profile Books Ltd Other People's Money: Masters of the Universe or
Book SynopsisShortlisted for the Orwell Prize 2016 We all depend on the finance sector. We need it to store our money, manage our payments, finance housing stock, restore infrastructure, fund retirement and support new business. But these roles comprise only a tiny sliver of the sector's activity: the vast majority of lending is within the finance sector. So what is it all for? What is the purpose of this activity? And why is it so profitable? John Kay, a distinguished economist with wide experience of the financial sector, argues that the industry's perceived profitability is partly illusory, and partly an appropriation of wealth created elsewhere - of other people's money. The financial sector, he shows, has grown too large, detached itself from ordinary business and everyday life, and has become an industry that mostly trades with itself, talks to itself, and judges itself by reference to standards which it has itself generated. And the outside world has itself adopted those standards, bailing out financial institutions that have failed all of us through greed and mismanagement. We need finance, but today we have far too much of a good thing. In Other People's Money John Kay shows in his inimitable style what has gone wrong in the dark heart of finance.Trade ReviewStratospherically authoritative. * Independent *Should be read by everyone concerned with preventing the next crisis... barely a page goes by without an acute observation or pithy aphorism. * Economist *Kay is both a first-class economist and an excellent writer. * Financial Times *Mr Kay is a brilliant writer. * Wall Street Journal *An admirable debunker of myths and false beliefs - Kay can see substantial things others don't. -- Nassim N Taleb, author of The Black SwanQuite brilliant ... about as good a demonstration of Kay's skills (as economist, thinker and writer) as you are likely to find. -- Andrew Haldane * Prospect magazine *John Kay is one of the most engaging and accessible writers on economics in Britain today * Morning Star *
£9.49
John Wiley & Sons Investing For Dummies
Book Synopsis
£17.09
John Wiley & Sons Inc Investment Banking Valuation LBOs MA and IPOs
Book SynopsisTable of ContentsAdditional Resources xv About the Authors xvii Foreword xxi Acknowledgments xxiii Disclaimer xxxi Introduction 1 Structure of the Book 3 Part One: Valuation (Chapters 1–3) 3 Part Two: Leveraged Buyouts (Chapters 4 & 5) 5 Part Three: Mergers & Acquisitions (Chapters 6 & 7) 6 Part Four: Initial Public Offerings (Chapters 8 & 9) 8 ValueCo Summary Financial Information 9 Part One Valuation 11 Chapter 1 Comparable Companies Analysis 13 Summary of Comparable Companies Analysis Steps 14 Step I. Select the Universe of Comparable Companies 17 Study the Target 17 Identify Key Characteristics of the Target for Comparison Purposes 18 Screen for Comparable Companies 22 Step II. Locate The Necessary Financial Information 23 SEC Filings: 10-K, 10-Q, 8-K, and Proxy Statement 24 Equity Research 25 Press Releases and News Runs 26 Financial Information Services 26 Summary of Financial Data Primary Sources 27 Step III. Spread Key Statistics, Ratios, and Trading Multiples 28 Calculation of Key Financial Statistics and Ratios 28 Supplemental Financial Concepts and Calculations 42 Calculation of Key Trading Multiples 47 Step IV. Benchmark the Comparable Companies 50 Benchmark the Financial Statistics and Ratios 50 Benchmark the Trading Multiples 50 Step V. Determine Valuation 51 Valuation Implied by EV/EBITDA 52 Valuation Implied by P/E 52 Key Pros and Cons 54 Illustrative Comparable Companies Analysis for ValueCo 55 Step I. Select the Universe of Comparable Companies 55 Step II. Locate the Necessary Financial Information 57 Step III. Spread Key Statistics, Ratios, and Trading Multiples 57 Step IV. Benchmark the Comparable Companies 69 Step V. Determine Valuation 74 Chapter 2 Precedent Transactions Analysis 75 Summary of Precedent Transactions Analysis Steps 76 Step I. Select the Universe of Comparable Acquisitions 79 Screen for Comparable Acquisitions 79 Examine Other Considerations 80 Step II. Locate the Necessary Deal-Related and Financial Information 82 Public Targets 82 Private Targets 85 Summary of Primary SEC Filings in M&A Transactions 86 Step III. Spread Key Statistics, Ratios, and Transaction Multiples 88 Calculation of Key Financial Statistics and Ratios 88 Calculation of Key Transaction Multiples 94 Step IV. Benchmark the Comparable Acquisitions 98 Step V. Determine Valuation 98 Key Pros and Cons 99 Illustrative Precedent Transaction Analysis for ValueCo 100 Step I. Select the Universe of Comparable Acquisitions 100 Step II. Locate the Necessary Deal-Related and Financial Information 101 Step III. Spread Key Statistics, Ratios, and Transaction Multiples 103 Step IV. Benchmark the Comparable Acquisitions 111 Step V. Determine Valuation 113 Chapter 3 Discounted Cash Flow Analysis 115 Summary of Discounted Cash Flow Analysis Steps 116 Step I. Study the Target and Determine Key Performance Drivers 120 Study the Target 120 Determine Key Performance Drivers 120 Step II. Project Free Cash Flow 121 Considerations for Projecting Free Cash Flow 121 Projection of Sales, EBITDA, and EBIT 123 Projection of Free Cash Flow 125 Step III. Calculate Weighted Average Cost of Capital 131 Step III(a): Determine Target Capital Structure 132 Step III(b): Estimate Cost of Debt (rd) 133 Step III(c): Estimate Cost of Equity (re) 134 Step III(d): Calculate WACC 138 Step IV. Determine Terminal Value 138 Exit Multiple Method 139 Perpetuity Growth Method 139 Step V. Calculate Present Value and Determine Valuation 141 Calculate Present Value 141 Determine Valuation 143 Perform Sensitivity Analysis 145 Key Pros and Cons 146 Illustrative Discounted Cash Flow Analysis for ValueCo 147 Step I. Study the Target and Determine Key Performance Drivers 147 Step II. Project Free Cash Flow 147 Projection of Sales, EBITDA, and EBIT 149 Step III. Calculate Weighted Average Cost of Capital 154 Step IV. Determine Terminal Value 159 Step V. Calculate Present Value and Determine Valuation 161 Part Two Leveraged Buyouts 167 Chapter 4 Leveraged Buyouts 169 Key Participants 171 Financial Sponsors 171 Investment Banks 172 Bank and Institutional Lenders 174 Bond Investors 175 Private Credit Funds 176 Target Management 176 Characteristics of a Strong LBO Candidate 177 Strong Cash Flow Generation 178 Leading and Defensible Market Positions 178 Growth Opportunities 178 Efficiency Enhancement Opportunities 179 Low Capex Requirements 179 Strong Asset Base 180 Proven Management Team 180 Economics of LBOs 181 Returns Analysis—Internal Rate of Return 181 Returns Analysis—Cash Return 182 How LBOs Generate Returns 182 How Leverage Is Used to Enhance Returns 184 Primary Exit/Monetization Strategies 187 Sale of Business 187 Initial Public Offering 188 Dividends / Dividend Recapitalization 188 Below Par Debt Repurchase 188 LBO Financing: Structure 189 LBO Financing: Primary Sources 192 Secured Debt 192 High Yield Bonds 196 Mezzanine Debt 198 Equity Contribution 199 LBO Financing: Selected Key Terms 202 Security 202 Seniority 202 Maturity 203 Coupon 204 Call Protection 205 Covenants 206 Term Sheets 209 LBO Financing: Determining Financing Structure 212 Chapter 5 LBO Analysis 217 Financing Structure 217 Valuation 218 Step I. Locate and Analyze the Necessary Information 220 Step II. Build the Pre-LBO Model 220 Step II(a): Build Historical and Projected Income Statement through EBIT 221 Step II(b): Input Opening Balance Sheet and Project Balance Sheet Items 224 Step II(c): Build Cash Flow Statement through Investing Activities 226 Operating Activities 226 Step III. Input Transaction Structure 229 Step III(a): Enter Purchase Price Assumptions 229 Step III(b): Enter Financing Structure into Sources and Uses 231 Step III(c): Link Sources and Uses to Balance Sheet Adjustments Columns 232 Uses of Funds Links 235 Step IV. Complete the Post-LBO Model 238 Step IV(a): Build Debt Schedule 238 Step IV(b): Complete Pro Forma Income Statement from EBIT to Net Income 247 Step IV(c): Complete Pro Forma Balance Sheet 250 Step IV(d): Complete Pro Forma Cash Flow Statement 252 Step V. Perform LBO Analysis 254 Step V(a): Analyze Financing Structure 254 Step V(b): Perform Returns Analysis 256 Step V(c): Determine Valuation 260 Step V(d): Create Transaction Summary Page 261 Illustrative LBO Analysis for ValueCo 262 Part Three Mergers & Acquisitions 273 Chapter 6 Sell-Side M&A 275 Auctions 276 Auction Structure 279 Organization and Preparation 279 Identify Seller Objectives and Determine Appropriate Sale Process 279 Perform Sell-Side Advisor Due Diligence and Preliminary Valuation Analysis 281 Select Buyer Universe 281 Prepare Marketing Materials 282 Prepare Confidentiality Agreement 285 First Round 286 Contact Prospective Buyers 286 Negotiate and Execute Confidentiality Agreement with Interested Parties 286 Distribute Confidential Information Memorandum and Initial Bid Procedures Letter 287 Prepare Management Presentation 288 Set Up Data Room 289 Prepare Stapled Financing Package (if applicable) 291 Receive Initial Bids and Select Buyers to Proceed to Second Round 291 Second Round 293 Conduct Management Presentations 293 Facilitate Site Visits 294 Provide Data Room Access and Respond to Diligence Requests 294 Distribute Final Bid Procedures Letter and Draft Definitive Agreement 295 Receive Final Bids 296 Negotiations 300 Evaluate Final Bids 300 Negotiate with Preferred Buyer(s) 300 Select Winning Bidder 300 Render Fairness Opinion (if required) 301 Receive Board/Owner Approval and Execute Definitive Agreement 301 Closing 302 Obtain Necessary Approvals 302 Shareholder Approval 303 Financing and Closing 305 Negotiated Sale 306 Chapter 7 Buy-Side M&A 309 Buyer Motivation 310 Synergies 311 Cost Synergies 312 Revenue Synergies 312 Acquisition Strategies 313 Horizontal Integration 313 Vertical Integration 313 Conglomeration 314 Form of Financing 315 Cash on Hand 316 Debt Financing 316 Equity Financing 317 Debt vs. Equity Financing Summary—Acquirer Perspective 318 Deal Structure 318 Stock Sale 318 Asset Sale 321 Stock Sales Treated as Asset Sales for Tax Purposes 324 Buy-Side Valuation 327 Football Field 327 Analysis at Various Prices 330 Contribution Analysis 331 Merger Consequences Analysis 333 Purchase Price Assumptions 333 Balance Sheet Effects 338 Accretion/(Dilution) Analysis 343 Acquisition Scenarios—I) 50% Stock/50% Cash; II) 100% Cash; and III) 100% Stock 346 Illustrative Merger Consequences Analysis for the BuyerCo/ValueCo Transaction 351 Part Four Initial Public Offerings 373 Chapter 8 Initial Public Offerings 375 Why Do Companies Go Public? 376 Characteristics of a Strong IPO Candidate 378 Attractive Industry 378 Strong Competitive Position 378 Growth Opportunities 379 Moat & Barriers to Entry 380 Healthy Financial Profile 380 Disruptive & Differentiated Solutions 381 Favorable Risk Profile 381 Proven Management Team 382 Key Participants 383 Investment Banks 383 Company Management 386 Current Owners/Investors 387 IPO Investors 387 Lawyers 388 Accountants 388 Exchange Partner 389 IPO Advisors 390 Vendors 390 Selected Key Terms 391 Offering Size 392 Primary/Secondary 393 Overallotment Option, a.k.a. “Greenshoe” 394 Syndicate Structure 395 Lock-up Provision 396 Listing Exchange 396 Gross Spread 397 Dual-Track Process 398 Special Purpose Acquisition Companies (Spac s) 401 Direct Listings 403 Post-IPO Equity Offerings 406 IPO Considerations 407 Nasdaq Appendix 409 Chapter 9 The IPO Process 413 Organization and Preparation 415 Select IPO Team, Exchange Partner and Assign Responsibilities 415 Manage Corporate Housekeeping 418 C Corp vs. Up-C Structure 423 Determine IPO Timing 425 Determine Offering Structure and Preliminary IPO Valuation 426 Host Organizational Meeting 429 Due Diligence, Drafting, and Filing 430 Perform Underwriter Due Diligence 430 Draft and File the Registration Statement 431 Prepare Other Key Transaction and Corporate Governance Documents 436 Coordinate with Equity Research 437 Respond to SEC Comments and File Amended Registration Statement 437 Marketing and Roadshow 438 Prepare Marketing Materials 438 Salesforce Teach-in 439 Conduct Roadshow 440 Build Order Book 443 Pricing and Allocation 445 Price the Offering 445 Allocate Shares to Investors 447 Closing 447 Afterword 449 Bibliography and Recommended Reading 451 Index 457
£67.50
Penguin Books Ltd The House of Rothschild
Book SynopsisIn his rich and nuanced portrait of the remarkable, elusive Rothschild family, Oxford scholar and bestselling author Niall Ferguson uncovers the secrets behind the family''s phenomenal economic success. He reveals for the first time the details of the family''s vast political network, which gave it access to and influence over many of the greatest statesmen of the age. And he tells a family saga, tracing the importance of unity and the profound role of Judaism in the lives of a dynasty that rose from the confines of the Frankfurt ghetto and later used its influence to assist oppressed Jews throughout Europe. A definitive work of impeccable scholarship with a thoroughly engaging narrative, ''The House of Rothschild'' is a biography of the rarest kind, in which mysterious and fascinating historical figures finally spring to life.Trade Review"A stupendous achievement, a triumph of historical research and imagination."—Robert Skidelsky, The New York Review of Books"Niall Ferguson's brilliant and altogether enthralling two-volume family saga proves that academic historians can still tell great stories that the rest of us want to read."—The New York Times Book Review"Superb ... An impressive ... account of the Rothschilds and their role in history."—Boston Globe
£18.70
Hoover Institution Press,U.S. Gambling with Other Peoples Money
Book SynopsisWhat caused the Financial Crisis of 2008? Russ Roberts argues that the underlying cause of the mess was the past bailouts of large financial institutions that allowed these institutions to gamble carelessly because they were effectively using other people's money.
£9.45
Ebury Publishing The Spider Network
Book SynopsisShortlisted for the Financial Times Business Book of the Year!Will snare you in its web of deceit ... A brilliant investigative exposé' - Harlan Coben, bestselling thriller author Reads like a fast-paced John le Carré thriller, and never lets up' - New York Times book review The Spider Network is the almost-unbelievable and darkly entertaining inside account of the Libor scandal one of the biggest, farthest-reaching financial scams since the global financial crisis written by the only journalist with access to Tom Hayes before he was sentenced to fourteen years in prison. Full of exclusive details, and with ramifications that stretch right across the British establishment, this is a gripping, real-life story of outlandish characters and reckless greed in the City of London. By turns a rollicking account of the scandal and also a provocative examination of a financial system that was crooked throughTrade ReviewAnyone with an interest in financial services and in what has gone wrong will find The Spider Network compelling. -- Daniel Finkelstein * The Times *a surprisingly human narrative … truly memorable … a vivid depiction of the ethos of the core financial institutions upon which the global economy depends * New York Times *a model of investigative financial writing... a more satisfying read than THE BIG SHORT by Michael Lewis * Literary Review *will snare you in its web of deceit, lies, corruption, manipulation and colourful characters. [a] brilliant investigative exposé * Harlan Coben, bestselling thriller author *supremely gripping ... a thrilling tour de force of reporting, revelation and reasoning ... unmissable * Iain Martin, bestselling author of MAKING IT HAPPEN: FRED GOODWIN, RBS AND THE MEN WHO BLEW UP THE BRITISH ECONOMY *An incredibly entertaining, globe-straddling inside account of how one trader turbocharged a greedy cabal that scammed savers and borrowers everywhere. A must read if you want to understand how big banks and traders really work * Marcus Brauchli, former Executive Editor of the Washington Post and Managing Editor of the Wall Street Journal *Equally entertaining and illuminating … Enrich’s brilliant depiction … owes to deep reporting, deft writing, and a nuanced approach that characterizes the entire book… First-rate. * John Helyar, bestselling author of BARBARIANS AT THE GATE *how did a socially awkward English math whiz mastermind manipulation of lending rates on a global scale? And was Tom Hayes truly the mastermind, or just a cog in a corrupt banking system? In David Enrich’s gripping tale, the characters have nicknames worthy of the Mafia, and their ethical compasses aren't much better * Paul Ingrassia, Pulitzer Prize winner and bestselling author of CRASH COURSE *gripping and disturbing ... It reads like a thriller and has some hilarious moments, whilst raising important questions about the nature of our financial and judicial systems * Ian Fraser, journalist and author of SHREDDED: INSIDE RBS, THE BANK THAT BROKE BRITAIN *David Enrich is a masterful story teller ... Michael Lewis has a new rival * Sheila Bair, former chair of the FDIC and president of Washington College *An absorbing read that provides both a meticulous dissection of an immense scandal as well as a fascinating human story * Bethany McLean, bestselling author of THE SMARTEST GUYS IN THE ROOM: THE AMAZING RISE AND SCANDALOUS FALL OF ENRON *For years, David Enrich has chased down the inside story of one the biggest financial frauds in history and was even threatened with jail by a British court if he printed what he knew. Now, in his blockbuster book The Spider Network, all of the secrets come spilling out…With an unerring eye for detail, Enrich shows in this masterful work how a toxic stew of greed, arrogance and a lust for power led to a criminal scheme of unparalleled dimensions. It should be required reading for anyone who wants to understand the dirty underbelly of the financial world. * Kurt Eichenwald, Pulitzer Prize winning author of THE INFORMANT *This dwarfs by orders of magnitude any financial scams in the history of markets. * Andrew Lo, Professor of Finance at MIT *In the hands of journalist David Enrich, the true tale of former UBS and Citigroup trader Tom Hayes becomes a page-turning crime drama that engages – and educates – readers from beginning to end. * The Charlotte Observer *A gripping narrative ... impressive reporting and writing chops are on full display ... reads like a fast-paced John le Carré thriller, and never lets up * New York Times book review *a feat of reporting, and much of it reads like a novel -- Leigh Gallagher * Washington Post *a remarkable read -- John Arlidge * Sunday Times *jaw-dropping * Financial Times *a gripping financial thriller * Daily Mail *
£14.24
Penguin Books Ltd Money and Power
Book SynopsisWilliam D. Cohan''s Money and Power: How Goldman Sachs Came to Rule the World is a chronicle of the most successful, iconic bank on Wall Street, from the firm''s founding in 1869 to the present day. Goldman Sachs are the investment bank all other banks - and most businesses - want to emulate; the firm with the best talent, the best clients, the best strategy. But is their success just down to the gilded magic of the ''Goldman way''? William D. Cohan has gained unprecedented access to Goldman''s inner circle - both on and off the record. In an astonishing story of clashing egos, backstabbing, sex scandals, private investigators, court cases and government cabals, he reveals what really lies beneath their gold-plated image. ''The best analysis yet of Goldman''s increasingly tangled web of conflicts'' Economist ''Startling ... lifts the lid on Goldman''s pivotal role in the meltdown'' Mail on Sunday ''Cohan portrays a firm that has grown so large and hungry that it''s no longer long-term greedy but short-term vicious. And that''s the wonder - and horror - of Goldman Sachs'' Businessweek ''Cohan''s book tells of bitter power struggles and business cock-ups'' Guardian ''A definitive account of the most profitable and influential investment bank of the modern era'' The New York Times Book Review William D. Cohan was an award-winning investigative journalist before embarking on a seventeen-year career as an investment banker on Wall Street. His first book, The Last Tycoons, about Lazard, won the 2007 Financial Times/Goldman Sachs Business Book of the Year Award and was a New York Times bestseller. His second book, House of Cards, also a bestseller, is an account of the last days of Bear Stearns & Co.Trade ReviewRevelatory, engrossing, penetrating ... Cohan revels in a good bust-up * Financial Times *The best analysis yet of Goldman's increasingly tangled web of conflicts * Economist *Startling ... lifts the lid on Goldman's pivotal role in the meltdown * Mail on Sunday *Cohan portrays a firm that has grown so large and hungry that it's no longer long-term greedy but short-term vicious. And that's the wonder - and horror - of Goldman Sachs * Businessweek *Cohan's book tells of bitter power struggles and business cock-ups * Guardian *A definitive account of the most profitable and influential investment bank of the modern era * New York Times Book Review *
£15.29
John Wiley & Sons The Power of Cash Why Using Paper Money is Good f
Book Synopsis
£20.36
Ebury Publishing A Colossal Failure of Common Sense
Book SynopsisA news-breaking explanation that answers the question everyone still asks: "why did it happen?"Larry McDonald, a former vice-president at Lehman Brothers in charge of distressed debt trading and convertible securities, was right at the centre of the meltdown of the company and gives an intimate look at the madhouse that Lehman became.Trade ReviewLawrence G. McDonald was, until 2008, Vice President of convertible securities and distressed debt trading at Lehman Brothers; his prior career included convertible securities research and sales at Morgan Stanley and the co-founding of Convertbond.com, named by Forbes Magazine as "Best of the Web." Patrick Robinson is the co-author of LONE SURVIVOR and author of many tech-thrillers.
£14.39
Penguin Books Ltd Cohan W Why Wall Street Matters
Book SynopsisIf you like your smartphone or your widescreen TV, your car or your pension, then, whether you know it or not, you are a fan of Wall Street.William D. Cohan, bestselling author of House of Cards, has long been critical of the bad behaviour that plagued much of Wall Street in the years leading up to the 2008 financial crisis, and, as an ex-banker, he is an expert on its inner workings as well. But in recent years he has become alarmed by the vitriol directed at the bankers, traders and executives who keep the wheels of our economy turning. Why Wall Street Matters is a timely and trenchant reminder of the dire consequences for us all if the essential role these institutions play in making our lives better is carelessly curtailed.
£10.44
John Wiley & Sons Inc The Principles of Banking
Book SynopsisTable of ContentsForewords xix Preface xxxix Acknowledgements xlv About the Author li Part I Banking, Bank Customer Business and Regulation 1 Chapter 1 Banking, bank business and financial statements 3 Chapter 2 Ethics, conduct and customer service 75 Chapter 3 Bank regulatory capital and the “Basel Rules” 97 Part II Bank Asset and Liability Management 159 Chapter 4 The yield curve 161 Chapter 5 Asset– liability management I 201 Chapter 6 Balance sheet management: money markets, FX, trading and hedging, and securitisation 251 Chapter 7 Managing interest- rate risk in the banking book (IRRBB) 303 Chapter 8 Bank Treasury operating model 333 Chapter 9 ALCO governance framework and terms of reference 351 Chapter 10 ALM sundries: asset encumbrance, hedge accounting, IFRS 9 and EIR 383 Part III Bank Liquidity Risk Management 401 Chapter 11 Principles of bank liquidity management 403 Chapter 12 Liquidity risk metrics 445 Chapter 13 Liquidity risk reporting 461 Chapter 14 Bank funds transfer pricing 469 Part IV Bank Strategy and Governance 491 Chapter 15 Bank strategy I: inputs and setting 493 Chapter 16 Bank strategy II: capital and funding management 521 Chapter 17 Principles of corporate governance 541 Part V Principles of Risk Management and Regulation 573 Chapter 18 The risk management framework 575 Chapter 19 Credit risk assessment and reporting principles 617 Chapter 20 Stress testing, ICAAP, ILAAP and reverse stress testing 647 Chapter 21 Recovery planning and resolution planning 693 Chapter 22 Sustainable banking and climate change risk management 703 Chapter 23 Case studies: analysis, problem solving and decision making 721 Chapter 24 Everything changes, and nothing changes: excerpts from a timeless work 753 Part VI Guide to the Companion Website 761 Chapter 25 Applications software, policy templates and spreadsheet models 763 Afterword 771 List of Terms and their Abbreviations 775 Index 781
£56.25
Pearson Education Limited Economics of Money Banking and Financial Markets
Book SynopsisFrederic S. Mishkin is the Alfred Lerner Professor of Banking and Financial Institutions at the Graduate School of Business, Columbia University. He is also a Research Associate at the National Bureau of Economic Research, co-director of the US Monetary Policy Forum, a member of the Squam Lake Working Group on Financial Reform, and past president of the Eastern Economics Association. Professor Mishkin's research focuses on monetary policy and its impact on financial markets and the aggregate economy. He is the author of more than twenty books and has published more than 200 articles in prominent journals. Mishkin is currently an associate editor (member of the editorial board) at six academic journals.Table of ContentsBrief Contents PART I: Introduction Why Study Money, Banking, and Financial Markets? An Overview of the Financial System What Is Money? PART II: Financial Markets The Meaning of Interest Rates The Behavior of Interest Rates The Risk and Term Structure of Interest Rates The Stock Market, the Theory of Rational Expectations, and the Efficient Market Hypothesis PART III: Financial Institutions An Economic Analysis of Financial Structure Banking and the Management of Financial Institutions Economic Analysis of Financial Regulation Banking Industry: Structure and Competition Financial Crises in Advanced Economies Financial Crises in Emerging Market Economies PART IV: Central Banking And The Conduct Of Monetary Policy Central Banks The Money Supply Process Tools of Monetary Policy The Conduct of Monetary Policy: Strategy and Tactics PART V: International Finance and Monetary Policy The Foreign Exchange Market The International Financial System PART VI: Monetary Theory Quantity Theory, Inflation, and the Demand for Money The IS Curve The Monetary Policy and Aggregate Demand Curves Aggregate Demand and Supply Analysis Monetary Policy Theory The Role of Expectations in Monetary Policy Transmission Mechanisms of Monetary Policy Additional Chapters in Pearson Pearson Mylab Economics Nonbank Finance Financial Derivatives Conflicts of Interest in the Financial Services Industry
£73.14
Springer Nature Switzerland AG Disintermediation Economics: The Impact of
Book Synopsis This book provides a coherent Blockchain framework for the business community, governments, and universities structured around microeconomics, macroeconomics, finance, and political economy and identifies how business organizations, financial markets and governmental policies are changed by digitalization, specifically Blockchain. This framework, what they authors call “disintermediation economics,” affects everything by providing a paradigm that transforms the way we organize markets and value chains, financial services, central banking, budgetary policies, innovation ecosystems, government services, and civil society. Bringing together leading and experienced policy makers, corporate practitioners, and academics from top universities, this book offers a road map of best practices that can be immediately useful to firms, policy makers as well as academics by balancing theory with practice. Table of ContentsCh. 1: What is Disintermediation Economics: An introduction (Psarrakis).- Part A: Disintermediation in Microeconomics.- Ch. 2: Distributed Ledger Economics: Organizations, Incentives and Strategy (Psarrakis).- Ch. 3: Economics of Smart Contracts: Efficiency and legal challenges (Dobrauz-Saldapenna and Schrackmann).- Ch. 4: Corporate Strategies for Blockchain-based Solutions (Verheggen).- Ch. 5: Distributed Data Economics (Shrier).-Part B: Disintermediation in Macroeconomics and Finance.- Ch. 6: Blockchain for Growth: Applying distributed ledger technologies to the UN Sustainable goals (Thomason).- Ch. 7: The New Money: The utility of Cryptocurrencies and the need for a New Monetary Policy (Lee and Teo).- Ch. 8: Privately Issued Digital Currencies (Disparte).- Ch. 9: Crypto-assets, Distributed Ledger Technologies and Disintermediation in Finance: Overcoming impediments to scaling: A view from the EU (Noble).- Ch. 10: Crypto-assets and Disintermediation in Finance: A view from Asia (Johnstone).- Part C: Disintermediation in Political Economy and Regulation.- Ch. 11: The Political Economy of the Blockchain (Zilgalvis).- Ch. 12: Regulating Blockchain in the EU: Building a global competitive advantage (Kaili).- Ch. 13: Advancing Digital Transformation in the Public Sector with Blockchain: A view from the European Union (Baldacci and Frade).- Ch. 14: Disposable Identities? Why digital identity matters to blockchain disintermediation and for society (Anania, Le Gars, and van Kranenburg).
£28.49
Pan Macmillan India The Dirty Dozen
a huge range and FREE tracked UK delivery on ALL orders.
£17.59
Little, Brown Book Group Fools Gold
Book Synopsis''A truly gripping narrative . . . The fact that Tett is able to reproduce such raw private communications is a tribute to her journalistic abilities'' Dominic Lawson, Sunday Times''Her blow-by-blow story is an impressive piece of detective work. She pulls back the curtain on a closed, unaccountable world of finance'' Will Hutton, GuardianIn the mid 1990s, at a vast hotel complex on a private Florida beach, dozens of bankers from JP Morgan gathered for what was to become a legendary off-site meeting. It was a wild weekend. But among the drinking, nightclubbing and fist-fights lay a more serious purpose - to assess the possibility of building a business around the new-fangled concepts of credit derivatives.The group at the heart of this revolution was an intense team, made up of individuals with a supreme sense of loyalty to each other and to the bank - for years, nothing could break them apart. But when, finally, the team dispersedTrade Review** 'A truly gripping narrative . . . The fact that Tett is able to reproduce such raw private communications is a tribute to her journalistic abilities * Dominic Lawson, SUNDAY TIMES *** 'Her blow-by-blow story is an impressive piece of detective work. She pulls back the curtain on a closed, unaccountable world of finance * Will Hutton, GUARDIAN *** 'An absorbing 15-year gallop across the Wild West of the world's financial markets . . . Tett sketches a system in the grip of a great error, emanating outwards from a cadre of elite traders who were able to repel any attempt to monitor, question or restrain them * Stephen Foley, INDEPENDENT *** 'A very readable, well-informed account of the way investment bankers invented, promoted and profited from the . . . financial products that were at the heart of the financial collapse * Vince Cable, Daily Telegraph *
£10.44
Penguin Books Ltd The Euro
Book SynopsisCan the Euro be saved? Should it be?Nobel prize-winning economist Joseph E. Stiglitz dismantles the prevailing consensus around what ails Europe - arguing that economic stagnation is a direct result of the Euro''s flawed birth, demolishing the champions of austerity and offering solutions that can rescue the continent from further devastation.''Stiglitz could hardly have timed The Euro better ... one of those economists with a rare ability to help readers understand complex ideas'' Philip Aldrick, The Times''Original, hard-hitting ... Much more than a demolition job. These chapters are full of constructive proposals'' Martin Sandbu, Financial Times''Terrific and clarifying'' Peter Goodman, The New York Times''Coolly analytical ... he is surely right: without a radical overhaul of its workings, the Euro seems all but certain to fail'' EconomistTrade ReviewHighly readable ... passionately written ... this important book will unnerve millions * Sunday Telegraph *Stiglitz could hardly have timed The Euro better ... one of those economists with a rare ability to help readers understand complex ideas -- Philip Aldrick * The Times *Coolly analytical ... he is surely right: without a radical overhaul of its workings, the Euro seems all but certain to fail * Economist *
£11.69
Penguin Books Ltd The Partnership
Book SynopsisDespite financial turmoil, Goldman Sachs remain the leading investment bank in their field. They are notorious for their unique management culture, unorthodox recruiting techniques - and for their secrecy. In The Partnership Charles Ellis reveals their story. With unparalleled access to the leadership of this famously close-knit firm, Ellis investigates the brilliant individuals who turned a marginal family business into a global powerhouse, weathering recession, scandal and disaster on the way. Among them are high school dropout and financial genius Sidney Weinberg, maverick reinventor John Whitehead, former US treasury secretary Hank Paulson and working-class New Yorker turned current CEO, Lloyd Blankfein. The Partnership reveals the shared values of intensive recruitment, discipline and talent that have tied Goldman Sachs''s people together - and made it a survivor.
£17.09
Pearson Education Limited Financial Times Guide to Banking The
Book SynopsisGlen Arnold is the author of Corporate Financial Management, Financial Times Guide to Value Investing 2e, The Handbook of Corporate Finance, FT Guide to Investing, 2e, The FT Guide to the Financial Markets and The Great Investors. FT Guide to Investing is the most successful book in the personal finance section of Total Consumer Market.Table of ContentsAbout the author Preface Author's acknowledgements Publisher's acknowledgements PART 1 DIFFERENT TYPES OF BANKING Chapter 1 What is banking? Chapter 2 An overview of different aspects of banking Chapter 3 Retail banking Chapter 4 Transferring money and other retail bank services Chapter 5 Corporate banking: lending Chapter 6 Corporate banking: key activities Chapter 7 How a bank operates Chapter 8 Asset and liability management Chapter 9 Bank financial statements Chapter 10 Investment banking: services to companies and governments Chapter 11 Investment banking: market trading activities Chapter 12 The mutuals Chapter 13 Finance houses PART 2 INTERNATIONAL BANKING Chapter 14 Banking across borders Chapter 15 UK banking Chapter 16 European banking Chapter 17 Banking in the Americas Chapter 18 Banking in Asia and Australasia Chapter 19 Banking in the Middle East and Africa PART 3 INSTRUMENTS AND MARKETS Chapter 20 Debt markets Chapter 21 Futures markets Chapter 22 Swaps and options Chapter 23 Foreign exchange markets PART 4 CENTRAL BANKING AND REGULATION Chapter 24 Monetary policy Chapter 25 Central banking: other functions Chapter 26 Regulation Notes to chapters Index
£30.39
John Wiley & Sons Inc One Good Trade
Book SynopsisAn inside look at what it really takes to become a better trader A proprietary trading firm consists of a group of professionals who trade the capital of the firm. Their income and livelihood is generated solely from their ability to take profits consistently out of the markets.Table of ContentsPreface vii Acknowledgments xi Part I Inside a Prop Trading Firm 1 Chapter 1 These Guys Are Good 3 Chapter 2 One Good Trade 31 Chapter 3 A Good Fit 53 Part II Tools of Success 83 Chapter 4 Pyramid of Success 85 Chapter 5 Why Traders Fail 117 Chapter 6 Live to Play Another Day 141 Part III Getting Technical 163 Chapter 7 Stocks In Play 165 Chapter 8 Reading the Tape 193 Chapter 9 Maximizing Your Profits with Scoring 223 Part IV The Trader’s Brain 249 Chapter 10 Trader Education 251 Chapter 11 The Best Teacher 285 Chapter 12 Adapt to the Markets 305 Chapter 13 The Successful Trader 335 Bibliography 339 About the Author 347 Index 349
£40.80
Birlinn General Shredded: Inside RBS, The Bank That Broke Britain
Book SynopsisThis is the definitive account of the Royal Bank of Scotland scandal. For a few brief months in 2007 and 2009, the Royal Bank of Scotland was the largest bank in the world. Then the Edinburgh-based giant - having rapidly grown its footprint to 55 countries and stretched its assets to £2.4 trillion under its hubristic and delinquent former boss Fred Goodwin - crashed to earth. In Shredded, Ian Fraser explores the series of cataclysmic misjudgments, the toxic internal culture and the 'light touch' regulatory regime that gave rise to RBS/NatWest's near-collapse. He also considers why it became the most expensive bank in the world to bail out and why a culture of impunity was allowed to develop in the banking sector. This new edition brings the story up to date, chronicling the string of scandals that have come to light since taxpayers rescued RBS and concluding with an evaluation of the attempts of the bank's post-crisis chief executives, Stephen Hester and Ross McEwan, to dismantle Goodwin's disastrous legacy and restore the damaged institutions to health. 'A gripping account - RBS was a rogue business, operating in what had become a rogue industry, with the connivance of government. Read it and weep' – Martin Woolf, Financial TimesTrade Review'A riveting read' -- Joris Luyendijk * The Guardian *'The definitive account of degenerate financial capitalism' -- Iain Macwhirter * The Herald *'Tumultuous ... profoundly shocking' -- Kevin McKenna * The Observer *'Shredded is a magnificent book. I regard it as one of the best investigative books of the past decade' -- Eamonn O'Neill * BBC Radio Scotland *'A gripping account - RBS was a rogue business, operating in what had become a rogue industry, with the connivance of government. Read it and weep' -- Martin Wolf * Financial Times * 'A model of the journalist's craft, Zola-esque in its broad and unsparing study of corporate hubris and nemesis and haunting in the questions it leaves in its wake' -- Bill Jamieson * Scotsman *'Impeccably researched and hard to put down at any point - the author pulls no punches' -- Philip Augar * Financial Times * 'Explosive' -- Tom Harper * Independent on Sunday *'Combines Greek tragedy with real-life events that have affected us all. It's hard to put down' -- Devraj Ray * Mortgage Strategy * 'I don't think I have ever read such a perfect morality tale for our times' -- Iona Bain * FT Adviser *'The definitive text. I'm thinking of Barbarians at the Gate, about Kohlberg Kravis Roberts and RJR Nabisco. An instant classic' -- Max Keiser * The Keiser Report *'You should absolutely read Ian Fraser's Shredded. It is probably the definitive work on the British and Irish banks in the Great Bubble and the ensuing Great Financial Crisis' -- Alexander Harrowell * The Yorkshire Ranter *'Engrossing, fascinating and appalling - a fast-paced and sickeningly-depressing exposition of what can go wrong when corporate governance fails' -- Ruth Bender, Cranfield University'Magisterial - the most detailed catalogue to date of the errors and misdemeanours leading up to RBS's 2008 collapse and the failure -- in Fraser's view -- to reform the bank in its aftermath' -- Colin Donald * Herald *'A rattling good read. Hubris, nemesis. Truly shocking' -- Paul Rogerson * Law Society Gazette *'A manual for understanding banks, the financial crisis, and also corporate greed and hubris' -- P.C. Dettman'The definitive account of the RBS fiasco. It's an engaging tale of how self-serving bank executives systematically broke the rules, lent with astonishing recklessness, abused customers and got suckered by Wall Street - before dumping their mess on the taxpayers' -- Yves Smith, author of Naked Capitalism'Nearly six years after the bailout, Shredded reminds us how much of banking reform is still a work in progress' -- Nick Dunbar * nickdunbar.net * 'Ian Fraser has produced a genuine page turner' -- Alex Marsh * Pieria *'The best financial book I've ever read. Thank you, Ian, for a public service' -- Simon Bain * Herald *'Not just the definitive book on the collapse of RBS but one of the best five books on the great financial collapse which changed the history of the 21st century. Ian pulls no punches in his conclusions' -- Russell Napier * CLSA *'This book should be posted through the letterbox of every taxpayer in Britain' -- David Mellor, former Chief Secretary to the Treasury
£14.24
Cornerstone Why Aren't They Shouting?: A Banker’s Tale of
Book Synopsis‘Eloquent, entertaining and accessible.’ FT AdviserWhen Kevin Rodgers embarked on his career in finance, dealing rooms were filled with clamouring traders and gesticulating salesmen. Nearly three decades later, the bustle has gone and the loudest noise you’re likely to hear is the gentle tapping of keyboards. Why Aren’t They Shouting? is one banker’s chronicle of this silent revolution, taking us from an age of shouted phone calls and alpha males right up to today’s world of computer geeks and complex derivatives. Along the way, Rodgers offers a masterclass in how modern banking actually works, exploring the seismic changes to the global financial industry over the last thirty years. Above all, his story raises a deeply troubling question: could it be that the technology that has transformed banking – and that continues to do so – is actually making it ever more unstable?‘A welcome addition to the panoply of must-read titles about banking before, during and after the crisis … by someone who was actually at the centre of the industry at the time.’ Euromoney‘An animated first-person narrative about the reality of banking … lively and engaging.’ LSE Review of BooksTrade ReviewAn animated, first-person narrative about the reality of banking … lively and engaging … Rodgers takes your hand and walks you through the history of finance. * LSE Review of Books *A welcome addition to the panoply of must-read titles about banking before, during and after the crisis … by someone who was actually at the centre of the industry at the time. * Euromoney *A rip-roaring ride through the dealing floors of the world’s financial market … the storyline is eloquent, right up there with the calibre of the master of the genre, Michael Lewis. * Financial Advisor *This is an enjoyable, fast-paced yet informative book … readers will be absorbed and fascinated by the inner workings of an industry that is essential to all our lives. * International Investment *A truly insightful look into the history of technology and what it could mean for banking’s future * Small Business Trends *
£10.44
Wiley-VCH Verlag GmbH CRR III: The EU Implementation of Basel IV - the
Book SynopsisThe revised banking package of CRD VI and CRR III contains a large number of new requirements, the implementation of which will pose major challenges for the banking industry. In addition to the adoption of the final Basel IV regulations, other topics such as crypto assets or the consideration of ESG in banking supervisory law will be addressed. The current proposals of the EU Commission for the implementation of the Basel reform proposals are presented in the edited volume by Martin Neisen and Stefan Röth. The aim is to give the reader a comprehensive but easily understandable overview of the proposals and to work out implementation challenges in a practical way. With the help of an international team of experts, the complexity of the topic is reduced and important assistance is offered. Compared to the second edition of the Basel IV book, the topics already implemented in the EU as part of the CRR II have been removed and a comprehensive presentation of all content of CRD VI and CRR III has been added.Table of ContentsForeword 11 Preface 13 1. Chapter: Introduction 15 Literature 17 2 Chapter: Revision of the Standardised Approach for Credit Risk (SA-CR) 19 2.1 Introduction 19 2.2 General aspects 23 2.3 Determination of the exposure value 25 2.4 Exposures to institutions 26 2.5 Exposures to corporates 29 2.6 Specialised lending exposures 30 2.7 Subordinated debt and equity exposures 32 2.8 Retail exposures 33 2.9 Exposures secured by mortgages on immovable property 34 2.9.1 General requirements 35 2.9.2 Calculation of the exposure-to-value (ETV) 36 2.9.3 Exposures secured by mortgages on residential immovable property 37 2.9.4 Risk positions secured by mortgages on commercial immovable property 40 2.9.5 Receivables related to land acquisition, development and construction (ADC) 41 2.9.6 Changes compared to the current CRR regulations 42 2.10 Defaulted receivables 43 2.11 Other assets 43 2.12 Additional risk weights for risk positions with currency mismatches 43 2.13 Use of external ratings 44 2.13.1 General aspects 44 2.14 Credit risk mitigation techniques 46 2.14.1 The financial collateral simple method 46 2.14.2 The financial collateral comprehensive method 47 2.14.3 Eligibility of repurchase agreements and similar transactions 48 2.14.4 Consideration of guarantees and credit derivatives 49 2.15 Summary 50 Literature 51 3 Chapter: The future of the IRB Approach 53 3.1 Introduction to the fundamentals of the IRB approach in accordance with CRR 53 3.1.1 Introduction to the IRB risk weight formula 54 3.1.2 The adoption of the IRB approach 60 3.1.3 Calculation of RWA and EL 60 3.1.4 Minimum requirements for the entry and ongoing use of the IRBA 66 3.1.5 Approval process: home/host coordination 73 3.1.6 Decision on the application 73 3.2 The implementation of the Basel Committee’s initiative to improve the IRB approach in the EU 74 3.2.1 Introduction 74 3.2.2 Scope of the internal models 76 3.2.3 Partial use of the IRB approach 80 3.2.4 Risk parameter floors as an instrument RWA variability reduction 82 3.2.5 Parameter estimation procedure 84 3.2.6 Credit risk mitigation 87 3.2.7 Changes in the modelling specifications 88 3.2.8 Expected impact on banks 90 3.2.9 Conclusions 93 Literature 94 4 Chapter: Supervisory treatment of market risks 95 4.1 Introduction 95 4.2 General and overarching adjustments 96 4.3 Revised trading book boundary 97 4.4 Adjustments to the requirements for reclassifications (Article 104a CRR 3) 99 4.5 Adjustments to the requirements for internal risk transfers (Article 106 CRR 3) 100 4.6 Revised treatment of investments in funds in the trading book 101 4.7 Adjustments to the Alternative Standardised Approach for market risk 103 4.7.1 Adaptation to the qualitative requirements of the A-SA 104 4.7.2 Technical adjustments to the Alternative Standardised Approach for market risk (A-SA) 104 4.8 Simplified standardized approach for market risk (S-SA) 107 4.9 Alternative Internal Model Approach for market risk (A-IMA) 107 4.9.1 Permission and own funds requirements 108 4.9.2 General requirements 108 4.9.3 Internal model for default risks 109 4.10 Conclusion 110 Literature 110 Contents 7 5 Chapter: The CVA risk capital charge framework 113 5.1 Introduction 113 5.2 Hierarchy of approaches 114 5.3 CVA exemptions and securities financing transactions 116 5.4 Standardised approach for CVA 117 5.4.1 Regulatory CVA model 117 5.4.2 Calculation of own funds requirements 118 5.5 Basic approach for CVA 122 5.5.1 Determination of the regulatory capital requirements on the basis of the basic CVA 122 5.5.2 Determination of the reduced version of the BA-CVA in detail 122 5.5.3 Determination of the full version of the BA-CVA in detail 124 5.6 Conclusion and expected impact 126 Literature 126 6 Chapter: Operational risks 129 6.1 Background 129 6.2 Methods for Determining OpRisk According to Basel II 130 6.2.1 Basic indicator approach and standardised approach 131 6.2.2 Advanced measurement approaches 132 6.2.3 Criticism of existing approaches 133 6.3 Overview: From Basel II to CRR 3 133 6.4 Standardised approach to operational risk (BCBS 424) 135 6.4.1 Functioning of the revised standardised approach 135 6.4.2 Calculation of annual OpRisk-related losses 140 6.4.3 Management of operational risks 142 6.4.4 Disclosure 143 6.5 Outlook 144 6.5.1 Capital requirements for OpRisk 144 6.5.2 Further consideration 144 6.6 Summary and conclusion 145 Literature 147 7 Chapter: The output floor 149 7.1 Introduction 149 7.2 Reasons for the introduction of the output floor 151 7.2.1 Outdated or no Basel I calculation systems 151 7.2.2 National deviations in the implementation of Basel I and the Basel I capital floor 152 7.2.3 The scope of application of the Basel I floor 152 7.2.4 Development of new standard approaches 152 7.3 The CRR 3 output floor 155 7.3.1 Scope of CRR 3 output floors 155 7.3.2 Calculation of the CRR 3 output floor 155 7.3.3 Transitional arrangements for the output floor pursuant to CRR 3 158 7.3.4 Selection of the right standardised approach 159 7.3.5 Deviations from Basel IV capital floor 159 7.4 Objectives and effects of the output floor 160 7.4.1 Impact of the output floor on standard approaches and their implementation 160 7.4.2 Optimization of the standardised approaches 161 7.4.3 Influence of the output floor on valuation models 164 7.4.4 Interaction between the floor and the scope of the IRB approach 167 7.5 Conclusion 168 Literature 169 8. Chapter: Disclosure 171 8.1 Introduction 171 8.2 Proportionality principle 172 8.3 Risk management objectives and policy 174 8.4 Scope of disclosure 174 8.5 Own funds 175 8.6 Capital requirements and risk-weighted exposure amounts 176 8.7 Counterparty credit risk 177 8.8 Countercyclical capital buffer 178 8.9 Indicators of global systemic importance 178 8.10 Credit risk 178 8.10.1 Credit risk mitigation 180 8.10.2 Credit risk in the standardised approach 180 8.11 Asset encumbrance 181 8.12 Market risk 181 8.13 CVA risk 181 8.14 Operational risk 182 8.15 Disclosure of key parameters (“key metrics”) 183 8.16 Interest rate risk of the banking book (IRRBB) 183 8.17 Securitisations 184 8.18 Environmental, social and governance risks – ESG risks 184 8.19 Remuneration policy 187 8.20 Leverage ratio 188 8.21 Liquidity ratios 188 8.22 Conclusion and expected impact 189 Literature 189 9. Chapter: MREL and TLAC as part of the resolution regime 191 9.1 Introduction 191 9.2 Key requirements for resolution capability 193 9.2.1 Minimum requirements of the EBA 193 9.2.2 Minimum requirements of the SRB 193 9.3 TLAC 197 9.3.1 TLAC implementation 197 9.3.2 TLAC calibration 198 9.3.3 TLAC-eligible liabilities 198 9.3.4 Resolution units and internal TLAC 198 9.3.5 TLAC holdings 202 9.3.6 TLAC reporting requirements 202 9.3.7 TLAC disclosure 203 9.4 MREL 203 9.4.1 MREL implementation 203 9.4.2 MREL calibration 204 9.4.3 MREL-eligible liabilities 205 9.4.4 Resolution units and internal MREL 208 9.4.5 MREL holdings 210 9.4.6 MREL reporting requirements 210 9.4.7 MREL disclosure 213 9.5 Outlook and conclusion 214 Literature 216 10 Chapter: ESG: Regulatory overview for dealing with sustainability risks 219 10.1 Sustainability risks in the financial sector 219 10.2 Consideration of sustainability aspects in SREP 219 10.2.1 Regulatory background 219 10.2.2 Overview of the expectations of European banking supervision 222 10.2.3 Consideration of ESG in the Supervisory Review and Evaluation Process (SREP) 225 10.3 ESG ratings – methodology and comparison 226 10.3.1 Introduction to the subject of ESG ratings 226 10.3.2 Overview of the ESG rating market 229 10.3.3 Methodological approaches and problems 232 10.4 Adjustment of capital requirements to cover sustainability risks 238 10.4.1 A possible adjustment of the minimum capital requirements on the basis of ESG ratings 238 10.4.2 Privileging of infrastructure projects under Pillar I 240 10.4.3 “Green Supporting Factor” and “Brown Penalty Factor” as adjustment factors 241 10.4.4 Sustainability Factor (SF) and Sustainability Weight (SW) as alternatives to the binary approach 243 10.4.5 Outlook 245 Literature 247 11. Chapter: Cryptoassets 249 11.1 Definition and types of cryptoassets 249 11.2 Development of a prudential framework 250 11.3 Classification procedure for cryptoassets 251 11.4 Regulatory requirements in relation to Group 1 cryptoassets 253 11.4.1 Credit risk 253 11.4.2 Market price risk 256 11.4.3 Add-on factor for infrastructure risk 257 11.4.4 Credit valuation adjustment (CVA) 257 11.4.5 Determination of counterparty default risk 258 11.5 Regulatory requirements in relation to Group 2a cryptoassets 258 11.5.1 Minimum capital requirements for credit and market risk 259 11.5.2 Credit valuation adjustment 260 11.5.3 Determination of counterparty default risk 260 11.6 Regulatory requirements in relation to Group 2b cryptoassets 261 11.6.1 Minimum capital requirements for credit and market risk 261 11.6.2 Credit valuation adjustment 261 11.6.3 Determination of counterparty default risk 261 11.7 Final BCBS standard 262 11.8 Conclusion 263 Literature 263 12. Chapter: Further requirements of CRD 6 265 12.1 Introduction 265 12.2 Supervisory powers 265 12.2.1 Requirements for the independence of competent authorities 265 12.2.2 Extension of supervisory powers in the case of acquisitions, disposals, mergers and divisions 266 12.2.3 Professional qualification and personal reliability (Fit & Proper) 267 12.3 Branches from third countries 269 12.3.1 Approval 270 12.3.2 Minimum regulatory requirements 270 12.3.3 Reporting requirements 272 12.3.4 Supervision 272 12.3.5 Conclusion 273 Literature 273
£63.75
Marshall Cavendish International (Asia) Pte Ltd ValueWeb: How Fintech Firms are Using Mobile and
Book SynopsisThe next generation internet, the Internet of Things, cannot work without an Internet of Value. The Internet of Value or ValueWeb, for short allows machines to trade with machines and people with people, anywhere on this planet in real-time and for free. The problem is that our old system cannot work that way, as it takes days to process and costs a fortune. Using a combination of technologies from mobile devices, wearables and the bitcoin blockchain, fintech firms are building the ValueWeb regardless. What does that mean for financial institutions, governments and citizens? This book provides the answers. Chris Skinner one of the most authoritative voices on FinTech anywhere has provided us another timely and thoughtful look into the fascinating convergence of technology, e-commerce, and finance that is changing the world. - Seth Wheeler, Former Economics Advisor to the US President and The White House Skinner's ValueWeb is a sweeping and well-researched analysis of the big technology trends that will shake the windows and rattle the walls of the industry -Don Tapscott, Best Selling Author This book will be an invaluable read for all interested in the way business works.- Sir Roger Gifford, Former Lord Mayor of LondonBest insight into money in the 3rd industrial revolution, aka the digital revolution, you will read.-Lawrence Wintermeyer, CEO Innovate FinanceThis is another must-read, not only for those interested in the world of FinTech, but anyone wanting to get a glimpse of a future where monetary and non-monetary transfers occur instantaneously across mobile and digital networks.-Jim Marous, The Financial Brand/Digital Banking ReportChris has a great eye for the case studies and practical examples of innovation that help you to really reflect on where banking is going.-David Birch, Director Consult Hyperion
£15.99
De Gruyter Inflation-Linked Bonds and Derivatives:
Book SynopsisDisruptions in supply chains and consumption patterns triggered by the pandemic together with stimulus packages and the energy crisis have catapulted inflation rates to levels last seen in the 1970s. For inflation markets, it’s hard to understate this sudden and enormous change in fortunes. Understanding the future evolution of consumer prices has become crucial for investors across all asset classes as central banks tailor their policy responses with a view to anchoring inflation expectations. Inflation-Linked Bonds and Derivatives condenses more than 15 years of dedicated coverage of inflation markets. It provides investors, issuers and policy makers with all the relevant tools to navigate inflation markets, starting with the nuts and bolts of consumer price indices, forwards, carry and trading strategies, to advanced topics like seasonality adjustments and the use of inflation options. With its many illustrative graphs and tabulated data, this exceptional book will benefit traders, corporate treasury departments, fixed income investors, insurance companies and pension funds executives.
£55.25
Harvard University Press The Future of Money
Book SynopsisNew technologies are shaking the foundations of traditional finance. Leading economist Eswar Prasad foresees the end of cash, as central banks develop their own digital currencies to compete with Bitcoin and Meta’s Diem. Money and finance are on the verge of dramatic transformations that will reshape their roles in the lives of ordinary people.Trade ReviewA strength of [Prasad’s] analysis is his mastery of both technical details and big-picture trade-offs…As it loses physical form, money’s meaning will become ever harder to grasp. This book explores the economic and social effects of that upheaval, giving shape to this most abstract of concepts. * The Economist *An in-depth look at how our wallets are set to evolve. -- Enda Curran * Bloomberg *Prasad aims to pull together some of the threads about bitcoin and such like to set out a big picture on money…Prasad’s helpful discussion of the pressures on, and options available to, central banks was illuminating. I found his framing of the ways in which these new technologies simultaneously make regulation both easier and more difficult interesting. -- David Birch * Financial World *Digital technologies are also transforming the world of finance. Prasad provides an invaluable overview of what this might mean: physical money will disappear; central bank money will compete with the new private versions; financial intermediation will be transformed; and new opportunities will open to the world’s population. -- Martin Wolf * Financial Times *Demystifies the esoteric world of cryptocurrencies…Prasad’s analysis is the best single point of entry for those interested in the nitty-gritty of digital finance. -- Barry Eichengreen * Foreign Affairs *A road map for money managers, market strategists, and others seeking to understand this new world. -- Reshma Kapadia * Barron’s *As money has become free to move around the world, Prasad probes how digital innovation is reshaping it as both a tool and a concept. -- Paola Subacchi * Nature *An ambitious book, covering the diverse landscape of digital money, and one that will remain relevant for years to come. -- Daniel Kuhn * CoinDesk *In The Future of Money Eswar Prasad explains how technology will impact everything financial, from what money will look like to peer-to-peer lending, central banking, and cross-border capital flows. In lucid prose, Prasad explains to the intelligent layperson how exactly Bitcoin works and whether a digital renminbi could challenge the US dollar. If you are looking for an insightful and comprehensive guide to how monetary finance might change, look no further. -- Raghuram G. Rajan, Professor of Finance at the University of Chicago Booth School of Business, former Chief Economist of the International Monetary Fund, and former Governor of the Reserve Bank of IndiaMoney shapes economies, economies shape nations, nations shape history. It follows that the future of money is profoundly important. Here is a definitive report on where we are and where we are going. -- Lawrence H. Summers, Charles W. Eliot Professor and President Emeritus, Harvard UniversityPrasad’s book is the best on the topic so far. In particular, it provides the most complete description of issues and factors that will shape the future of money. Everyone with limited time wanting to have a deeper understanding of money in the 21st century, should read this book. -- Daniel Heller * Central Banking *Drawing on his extensive policymaking experience and insights as one of the leading macroeconomists, Eswar Prasad in The Future of Money provides a comprehensive account of the economic, social, and technological issues that will determine how we save, invest, buy, and sell in the future. -- Mark Carney, former Governor of the Bank of EnglandComprehensive…and a vital handbook for anyone looking to understand how finance is changing. -- Gavin Jackson * Financial Times *In The Future of Money Eswar Prasad has produced a single-volume masterpiece with all one needs to know about an amazing upcoming turning point in monetary policy. He shows that if we follow his sensible advice and heed his warnings of over-regulation and fear, Central Bank Digital Currency will be a genuine help to the poor and a gateway to global stability. Encyclopedic and carefully researched, the book is packed with many valuable, easy-to-understand examples. -- John B. Taylor, Stanford UniversityA sober-minded and informative take on an overheated topic. * Publishers Weekly *A sweeping survey of fintech, crypto assets, and central bank digital currencies (CBDCs). -- John Detrixhe * Quartz *Very interesting and very worthwhile…I’ll be referencing The Future of Money for a long time. -- John Tamny * Forbes *For anyone who really wants to understand how [Bitcoin] works in all its technical splendor, there is no better introduction. -- Benjamin J. Cohen * Project Syndicate *An impressive overview of the many changes digital technologies have already wrought…A sweeping overview of developments in payments, from the specifics of Ant Group’s business to the e-krona project and Venezuela’s Petro…An engaging read. -- Jon Frost * Finance and Development *An eminently readable work that is accessible and smooth. From banks to cryptocurrencies to fintech, he gives a detailed crash course on the present and lays out breadcrumbs to an uncertain future. As Prasad says, only one thing is for sure, cash is on its way out. What the future holds remains to be seen. * The Week (India) *The book makes a significant contribution. It addresses many wider issues associated with digital currencies and digital finance. These issues include the potential effects on financial stability, the monetary transmission system, domestic and international payment systems, financial inclusion and inequality. It is impressive that so many topics are covered in an accessible manner…[An] excellent book. -- Carlo Cocuzzo and Ian Bright * Society of Professional Economists *Covers everything about digital money, finance, and fintech that anyone would need or want to know. -- Alex Lo * South China Morning Post *A wonderful introduction to, and reference for, the fast-changing world of electronic assets…Fun to read, provides lots of fascinating material for money and banking classes…The book is solid, but the future of privately provided e-money is not. -- Robert P. Flood * Journal of Economic Literature *An interesting and insightful exposition on the shifting landscape from traditional paper notes to digital currencies…The Future of Money provides readers with a window into some of the opportunities and challenges that lie ahead for the financial sector. -- Ronald L. Moy * Enterprising Investor *While written from the perspective of a central bank economist, the book is highly readable and accessible to those without formal training in monetary economics and policy. As it describes projects likely to become reality over the next five to ten years, The Future of Money is relevant for social science scholars interested in technology, digitalization, markets, and organizations. -- Alex Preda * Administrative Science Quarterly *This book offers valuable insights to understand the impact of digital currencies on monetary policy, commercial banks and financial stability. * Journal of Evolutionary Economics *
£17.06
John Wiley and Sons Ltd Money for Beginners: An Illustrated Guide
Book SynopsisMoney is mysterious. We love it, we hate it, but few people can tell you what the heck it really is. Wouldn't it be good to get out of the fog? This book will help you understand both the way money works and how to leverage its power. The authors take you on an illuminating journey from your piggy bank to the Federal Reserve with no pesky jargon or complex math. Once you see money clearly, life will never be the same. You'll know what really goes on in banks and what the cash in your wallet represents. You'll know how government really spends and why it can’t run out of money. You'll know what money can actually do — and how we can make it work for us.Trade Review“BRILLIANT!! Tally-ho!”James K. Galbraith, The University of Texas at Austin“This short illustrated book contains more wisdom on money than all the textbooks in the world.”Steve Keen, author of The New Economics: A Manifesto“Economics can be intimidating, but this book provides an excellent introduction for high school students.”Rose Rodriguez, retired teacher, Modesto School DistrictTable of ContentsIntroduction Chapter 1. Money: An Introduction Chapter 2. Money: An Origins Story Chapter 3. Money: The Story of Redemption Chapter 4. Currency: The Government’s Money Chapter 5. Can Government Run Out of Currency? Chapter 6. Anyone Can Create Money? Chapter 7. Private Bank Money Chapter 8. The Central Bank’s Money: Lender of Last Resort Chapter 9. Central Bank Money: Government Finance Chapter 10. Government’s Debt is Our Asset Chapter 11. Money as Scorekeeping Chapter 12. Rise of the Winners-Take-All Economy Chapter 13. The Way Forward: We Take Care of our Own
£11.69
Penguin Books Ltd The Money Machine
Book SynopsisWhat happens in the City has never affected us moreIn this excellent guide, now fully revised and updated, leading financial journalist Philip Coggan cuts through the headlines, the scandals and the jargon to explain the nuts and bolts of the financial system.What causes the pound to rise or interest rates to fall? Which are the institutions that really matter? Why is it we need the Money Machine - and what happens when it crashes? Coggan provides clear and concise answers and shows why we should all be more familiar with a system we so intimately depend upon.
£10.44
Penguin Books Ltd The Bank That Lived a Little
Book Synopsis''A brilliantly readable account, based on exceptional access, of the transformation of the old Quaker bank into a hard-charging capitalist adventurer ... both a thriller and a reminder that business is fascinating because all human life is there'' John Plender, Financial TimesBased on unparalleled access to those involved, and told with compelling pace and drama, The Bank that Lived a Little describes three decades of boardroom intrigue at one of Britain''s biggest financial institutions. In a tale of feuds, grandiose dreams and a struggle for supremacy between rival strategies and their adherents, Philip Augar gives a riveting account of Barclays'' journey from an old Quaker bank to a full-throttle capitalist machine. The disagreement between those ambitious for Barclays to join the top table of global banks, and those preferring a smaller domestic role more in keeping with the bank''s traditions, cost three chief executives their jobTrade ReviewHe tells the financial story of our age -- Alec Russell * Financial Times *A brilliantly readable account, based on exceptional access to most of those involved, of the transformation of the old Quaker bank into a hard-charging capitalist adventurer. ... Philip Augar's book is both a thriller and a reminder that business is fascinating because all human life is there. -- John Plender * Financial Times *A riveting and revealing account of how a bank of high moral character with Quaker origins ended up in the sewer thanks to ambition and greed. -- Iain Martin * The Times *Once you start reading Philip Augar's well-researched book, you are captivated. ... What makes The Bank That Lived a Little a must-read is the way in which, in its pages, Barclays comes to embody all that has been, and possibly still is, wrong with the entire banking sector. -- Vicky Pryce * Literary Review *
£13.49
Penguin Books Ltd Shutdown
Book SynopsisFINALIST FOR THE ORWELL PRIZE FOR POLITICAL WRITING 2022 THE TIMES BOOKS OF THE YEAR 2021 ''A complex story, which Tooze tells with clarity and verve... The world is unlikely to be treated to a better account of the economics of the pandemic'' The Times From the author of Crashed comes a gripping short history of how Covid-19 ravaged the global economy, and where it leaves us now When the news first began to trickle out of China about a new virus in December 2019, risk-averse financial markets were alert to its potential for disruption. Yet they could never have predicted the total economic collapse that would follow in COVID-19''s wake, as stock markets fell faster and harder than at any time since 1929, currencies across the world plunged, investors panicked, and even gold was sold. In a matter of weeks, the world''s economy was brought to an abrupt halt by governments trying to contain a spiralling public health catastrophe. Flights were grounded; supply chains broken; industries from tourism to oil to hospitality collapsed overnight, leaving hundreds of millions of people unemployed. Central banks responded with unprecedented interventions, just to keep their economies on life-support. For the first time since the second world war, the entire global economic system contracted. This book tells the story of that shutdown. We do not yet know how this story ends, or what new world we will find on the other side. In this fast-paced, compelling and at times shocking analysis, Adam Tooze surveys the wreckage, and looks at where we might be headed next.''A seriously impressive book, both endlessly quotable and rigorously analytical'' Oliver Bullough, The GuardianTrade ReviewA complex story, which Tooze tells with clarity and verve... The world is unlikely to be treated to a better account of the economics of the pandemic. * The Times *Shutdown is a seriously impressive book, both endlessly quotable and rigorously analytical. Tooze synthesises a huge volume of information to argue that we must prepare for a new wave of crises or risk being sunk by them. Hopefully, governments everywhere will heed his warning. -- Oliver Bullough * The Guardian *Mr Tooze displays a remarkable ability to master the detail ... This is truly a picture of the global impact of the crisis; it covers the disruption in the financial markets, as well as the ins and outs of government policy. * The Economist *Fascinating, informative and wise. * Times Literary Supplement *An admirable work of synthesis and original analysis from the pre-eminent diagnostician of our age of discontents. * New Statesman *What sets [Shutdown] apart is Tooze's ability to keep his eye on the big picture - and the long view ... There will be plenty more books to come on the global economy of 2020. Few will be as timely, as wide-ranging or as clear as Shutdown. -- Duncan Weldon * Prospect *[A] brilliant, bracing account of the Covid pandemic and its protracted political aftermath ... Nuanced and wide-ranging. Tooze has the impressive ability, as a writer, to contextualise historical events as they unfold. -- Jamie Maxwell * The Herald *To read Shutdown feels like sitting alongside the great professor while he feverishly collates an array of data and anecdotes, attempts to chronicle what is going on, his head fizzing with ideas about what it might all mean and where it might be leading ... a fine use of one's time. -- Bill Emmott * Financial Times *Of all the instant histories spawned by the pandemic, this is the closest we'll get to a thriller ... it's a story that bears rereading ... a survival guide for the next man-made cataclysm that Adam Tooze warns will surely come soon. -- Patrick Maguire * The Times *A comprehensive history of an unprecedented year ... Readers will find this deeply informed parsing of the pandemic to be illuminating and thought-provoking. * Publishers Weekly *Tooze examines the unprecedented decision of governments around the world to shutter their economies in the face of pandemic ... As the pandemic hopefully continues to fade, other crises remain. This book is a valuable forecast of future problems. * Kirkus *
£11.69
Taylor & Francis Ltd (Sales) Understanding Phonetics Understanding Language
Book SynopsisThis accessible and comprehensive survey of phonetic theory is an ideal introduction to phonetics for undergraduates approaching the subject for the very first time.Trade Review'This volume is an excellent introduction into the field of phonetics. It presents an impressive account of the articulatory, acoustic and perceptual aspects of human speech sounds. What makes this book especially useful are the various exercises in the chapters, and the addition of online audio materials to let readers develop their practical skills with ear-training exercises'. Marc Swerts, Professor of Communication and Information Sciences, Tilburg University, The Netherlands'the comprehensive content with clear explanations make[s] it a tool that students can use with confidence. It is remarkable in its potential to facilitate connections across the breadth of phonetics, providing excellent foundations for the reader's future career as a phonetician.'Times Higher EducationTable of ContentsPrefaceAcknowledgementsSymbols for transcribing EnglishIPA chart1. Starting phonetics2. The role of the larynx3. Place of articulation4. Manner of articulation5. Airstream mechanisms6. Describing vowels7. Further parameters of variation in vowels8. Further parameters of variation in consonants9. Connected speech - segment dynamics10. Beyond the segmentAnswers to exercisesBibliographyIndex
£37.99
Taylor & Francis Ltd Monetary Policy Frameworks in a Global Context
Book SynopsisThis broad-ranging collection assesses the links between targets and central bank independence, accountability and the transparency of monetary policy. Renowned experts contribute to this original and comprehensive text which will be of great value to professional economists and students of economics and banking alike.Monetary Policy Frameworks in a Global Context was named Book of the Year, 2000 by Central Banking journalTable of ContentsGeneral introduction PART I Key issues in the choice of monetary policy framework 1 Introduction 2 A historical examination of inflation stability under alternative monetary frameworks 3 The use of explicit targets for monetary policy: practical experiences in 93 economies in the 1990s 4 The devil in the detail of monetary policy frameworks: issues and measures of monetary framework characteristics 5 The devil in the detail of monetary policy frameworks (2): interpreting measures of framework characteristics 6 What does independence mean to central banks? 7 Redesigning the monetary policy framework: practical Considerations; 8 Conclusions and summary PART II Monetary policy strategies; Monetary policy objectives in emerging markets in light of the Asian crisis; The role of the Monetary Policy Committee: strategic considerations; Establishing a reputation for dependability by means of inflation; Targets; PART III Transmission mechanisms and monetary frameworks; Modelling the transmission mechanism of monetary policy in the Czech Republic; Setting monetary policy instruments in Uganda; Monetary policy in a dollarised economy: the case of Peru; The Balassa-Samuelson effect and monetary targets PART IV Country experiences with different monetary strategies; Lessons from the Bundesbank on the occasion of its early retirement; What can inflation expectations and core inflation tell us about monetary policy in Japan? Inflation and money goals: the recent experience of monetary policy in Mexico; Inflation targets and stabilisation in Chile; Monetary policy and disinflation in Israel; Inflation targeting in the Czech Republic PART V Specifying and using targets; Core inflation as an indicator in monetary policy rules Specifying an inflation target: the case of administered prices and other candidates for exclusion Exchange rate considerations in a small open economy: a critical look at the MCI as a possible solution
£35.14
Penguin Books Ltd Paper Promises Money Debt and the New World Order
Book SynopsisWinner of the Spears Business Book of the Year AwardLonglisted for the Financial Times Goldman Sachs Business Book of the Year AwardIn today''s financial climate, we are all, naturally, obsessed by debt. In almost every aspect of our life we experience it - on our credit cards, mortgages, bank loans and student loans. But where has this debt come from? How does it work? What is any money really worth? And what promises do we need to believe to keep the whole system afloat?In this fascinating look at money through the ages - including our own unstable future - award-winning financial journalist Philip Coggan examines the flawed structure of the global finance systems as they exist today, and asks, with deeper imbalances that the world is currently facing, what''s actually at stake.Trade ReviewBold and confident ... Coggan covers the terrain with characteristic calmness and objectivity, avoids over-simplification, and laces his arguments with his trademark erudition ... The alphabet soup of acronyms, from SIVs to CDO Squareds, is blissfully lacking ... Finally, the book is free from the shrieking ideology that afflicts virtually all contemporary debates over money. Indeed, it offers a clear explanation of the fresh ideological divisions that have arisen over how to deal with the crisis ... the book should be taken very seriously * Financial Times *This book stands way above anything written on the present economic crisis -- Nassim Nicholas Taleb, author of 'The Black Swan'The most illuminating account of the financial crisis to appear to date ... [written] with a lucidity that enables him to convey deep insights without a trace of jargon ... [a] thought-stirring book -- John Gray * New Statesman *A remarkable book from one of the most respected economics journalists on the planet. Every page brings a fresh insight or a new surprise. A delight -- Tim Harford, author of 'The Undercover Economist'Fascinating and authoritative, with the rigour and depth to satisfy an economist and the accessibility and pace to engage the layperson ... If everyone read Coggan's book we might just be a little more circumspect if and when the next burst of irrational exuberance overtakes the economy * Management Today *A masterful history of financial crises * Independent *By far the best analysis of the "new normal" -- David Stevenson * Financial Times *An excellent book ... a smart and witty analysis of the current economic storm, set in the context of the history of money -- David Wighton * The Times *Coggan is ... an exceptional banking and economic historian * Irish Examiner *Coggan traces 'history's tug of war between monetary shortage and excess' in this engaging and timely book about the current financial crisis.... Thoughtful and thorough * Publishers Weekly *Intriguing * Irish Independent *Coggan ... deserves his Best Communicator award: he moves the story along at a fast and flowing pace, combined with the ability to find the short phrase that summarizes in simple language the kernel of many complex economic ideas ... demonstrates a comprehensive awareness of the major academic debates in economics and economic history ... deserves to be one of the three books you read from the vast literature spawned by the recent crisis -- John Gent * LSE blog *A very good and sensible introduction to the history of the recent economic crisis, with an emphasis on debt and also historical perspective * Tyler Cowen Blog *
£10.44
John Wiley & Sons Making Money Work
Book Synopsis
£23.79
Agenda Publishing The European Central Bank
Book SynopsisThe European Central Bank administers monetary policy for the eurozone and is tasked with maintaining price stability by keeping inflation below 2 per cent. This brief mandate belies the complexity of managing the monetary policy for the 19 member states of the euro, not to mention the political implications thereof. This book sets out the history, development and day-to-day workings of this key institutional pillar of the European Union. It assesses its work, independence, the policies and instruments at its disposal and the evolution of its role during, and after, the eurozone crisis of 2010. Incomplete monetary union, Germany's hegemonic ambitions and different economic policies from individual member countries are shown to pose formidable challenges to the ECB's macroeconomic management.Trade ReviewA very well-written book providing a comprehensive overview of the ECB and the major challenges facing European Monetary Union over the past two decades. -- Peter Bofinger, Würzburg University and former member of the German Council of Economic ExpertsTable of Contents1. Introduction: European integration2. From Bretton Woods to European Monetary Union3. The Maastricht Treaty and the Stability and Growth Pact4. The ECB’s structure and its political and legal framework5. Preconditions for a stable monetary union6. The failure of the 2-pillar strategy of the ECB and the revival of Wicksell7. Increasing economic fragility before the financial market crisis8. Monetary policy and the Great Recession9. Monetary policy and the escalation of the euro crisis up to 201210. The ECB holds the euro together11. The fiscal policy framework in the ECB12. Financial market supervision, banking union and financial market regulation13. Prospects for European policy making and the EMU
£22.99
