Banking Books
Princeton University Press Dark Matter Credit
Book SynopsisTrade Review"Highly recommended for anyone interested in economic history, regardless of their disciplinary backgrounds and areas of specialization."---Francesca Trivellato, EH.Net"Deeply researched, lean, and stimulating. . . . I was left with a reflection that is rare upon finishing an academic monograph: wishing it were longer."---Paul Cheney, Journal of Modern History
£31.50
Princeton University Press The Political Economy of the Special Relationship
Book Synopsis
£37.80
Princeton University Press Unsettled Account
Book SynopsisTrade Review"Grossman's is a good read. The book tells you as to how we got to be where we are. There are lessons to be learnt for those who want to go about reshaping reforms in global banking." * BusinessWorld *"Grossman weaves an enormous amount of research into an impressive history of the banking industry in many developed countries over the last 200 years. His focuses primarily on changes in the size and structure of the banking industry over time and argues that banks and bank assets rise as a share of overall economic output and then fall as a country moves from developing to developed. . . . [T]his work represents a valuable contribution to the history of banking." * Choice *"Professor Grossman has assembled an impressive collection of historical, statistical, and bibliographic data, one that would be extremely difficult to reproduce using other sources. This information will prove invaluable for those conducting intensive research on commercial or international banking, and Unsettled Account will make an excellent addition for libraries that commonly serve such patrons. Academic law libraries at institutions offering specific courses in commercial banking may also want to consider a copy."---Shannon L. Kemen, Law Library Journal"Unsettled Account provides us with a new and welcome history of the last three centuries of banking. Who should read this book? A lot of people. For the legions of political, social and cultural historians, if they have to read one book on the historical evolution of banking, this is it. It will provide them with the needed theoretical background without an equation in sight, useful country studies, and the insights needed to instruct their students. For the legions of economic theorists, if they have to read one book on the historical evolution of banking, this is it. The book is a guide to every key stylized fact they might use for a model, identifying the broad parameters of institutions and history. For the legions of policy makers, if they have to read one book on the historical evolution of banking, this is it. Distanced from the crisis of the moment, Grossman nicely hits the key issues and distills some relevant lessons."---Eugene White, EH.Net"[A] number of books stand out as works of real scholarship written by experts in their fields. Unsettled Account should be numbered among the best of those produced so far."---Ranald Michie, BHR"Richard Grossman has produced a valuable and accessible synthesis of research on some key aspects of banking history in this publication. . . . Students and academics with an interest in financial history, as well as practitioners and regulators, would benefit from reading Unsettled Account."---John Singleton, Australian Economic History Review"Richard Grossman has long been a well regarded figure in the field of financial history, and he has applied his knowledge and analysis to produce a comparative history of banking in Western Europe, North America, Australia, and Japan over the course of the nineteenth and twentieth centuries."---Ranald Michie, Business History Review"What Grossman has done, in drawing our attention to the way in which past banking crises have been dealt with, is a significant contribution to the literature on the problems and difficulties involved in dealing with banks."---Jonathan Warner, European Legacy
£36.00
Pluto Press Tax Haven Ireland
Book SynopsisAn exposé of how incredible wealth is funnelled through a country without benefiting its peopleTrade Review'Excellent insights and analysis showing how corporations and the rich are addicted to tax avoidance to the detriment of normal people. Informative and enjoyable to read' -- Prem Sikka, Professor of Accountancy at the University of Sheffield'An important book - it exposes industrial scale tax avoidance being organised by the Irish elites and enjoyed by the world's major corporations. It blends detailed research with impressive insight. It deserves a wide readership'. -- Richard Boyd Barrett: Member of Irish parliament for People Before Profit'An important book that deserves a wide readership. The claims that Ireland is a tax haven have been growing over recent years. This book adds important evidence to the claim and makes a passionate call for a more equal society' -- Professor Eoin Reeves, Head of the Department of Economics, University of Limerick, Ireland'A policy of consistent denial by the government, along with lazy media treatment of the issue, has meant that Ireland's status as a tax haven is an ongoing controversy. This book goes a long way in resolving this argument' -- Terrence McDonough, Emeritus Professor of Economics, NUI Galway, Ireland'A must read for anyone interested in understanding how global capitalism works in the 21st century' -- Dr Stewart Smyth, Birmingham Business School, University of Birmingham'An extremely important, and possibly the best, book to have been written about one of the world's biggest and most dangerous tax havens. It skewers the self-serving myths of crooked Irish elites to show how going down the tax haven route not only inflicts harm on other countries - it hurts its own population too' -- Nicholas Shaxson, author 'Treasure Islands: Tax Havens and the Men who Stole the World' (Vintage, 2011)Table of Contents1. Porn, Tax Dodging and Exploitation 2. Global Plunder 3. Making Treasure Ireland 4. Dirty Secrets 5. The Fixers 6. The Irish Financial Services Centre 7. Foreign Direct Avoiders 8. The Vultures Have Landed 9. The Case for the Defence 10. How Tax Dodging Harms Irish Society
£72.25
Cornell University Press Asian States Asian Bankers Central Banking in
Book SynopsisFinancial markets are given to instability, but some financial systems are more crisis-prone than others. Natasha Hamilton-Hart's historically grounded investigation of central banks, governments, and private bankers in Southeast Asia helps explain...Trade ReviewExamines central banks, governments, and private bankers in a group of Southeast Asian countries, focusing on the regulatory functions of government with regard to money and finance. * Journal of Economic Literature *This is a well-researched and nuanced study of central banks in Indonesia, Malaysia, and Singapore. It traces the historical evolution of the central banks in these countries, the resulting organizational culture, and the governance capacity, which in turn are linked to financial sector outcomes. All social scientists can benefit from the careful research and the many interesting and pertinent observations made throughout Hamilton-Hart's book. -- Mukul Asher, National University of Singapore * Pacific Affairs *Hamilton-Hart's thought-provoking book is a very valuable contribution to the literature on states and the financial sector more broadly, and on Southeast Asian comparative political economy more specifically. It offers us new insights into a little-studied phenomenon in political economy, namely the manner in which policies are implemented and the institutional factors that influence that process. -- Helen E. S. Nesadurai * ASEAN Economic Bulletin *This is an analysis of the highest quality as well as a highly engaging study. The dramatic events of the Asian economic crisis are used to provide a unique window into the inner workings of the financial and political systems of Singapore, Malaysia, and Indonesia, and into the power relations in which they are embedded.... It is a study not only of banks and financial systems but also of theories of institutional change and reform well anchored in broader theoretical debates about the nature of institutions and power.... One of the strengths of Asian States, Asian Bankers is the author's exploration of how institutions might change in her nuanced and thoughtful consideration of the postcrisis debate about convergence. -- Richard Robison, Institute of Social Studies, The Hague * Perspectives in Politics *The author argues the policy merits neither of financial regulation and open capital markets nor of their alternatives, but of states that do what they say they will do.... This study of the impact of institutional development, organizational capacities, and administrative styles in pleasingly old-fashioned in its use of comparative case methods to interrogate complex questions.... The studies of Indonesia, Malaysia, and Singapore are very helpful. -- Danny Unger, Northern Illinois University * Journal of Asian Business *Asian States, Asian Bankers is well written and will certainly provide interesting reading to scholars keen on international monetary and financial issues in Southeast Asia. -- Ramkishen S. Rajan * Asian-Pacific Economic Literature *
£57.60
MB - Cornell University Press Globalizing in Hard Times
a huge range and FREE tracked UK delivery on ALL orders.
£45.90
Cornell University Press Prosper or Perish
Book SynopsisProsper or Perish describes a massive ongoing problem for China's economic dvelopment: the difficulty of administering loans to Rural Credit Cooperatives in a way that assists rural households.Trade Review"The book provides a compelling argument for the dangers of soft budget constraints created by the intimate linkage between the Rural Credit Cooperatives RCCs and the local government bureaucracy. Apart from providing an analysis of the rural banking sector, this interesting volume offers valuable insights into the political economy of rural China." —Ane Bislev,China Review InternationalVolume 19, No. 4, 2012The institutional explanation of the bias builds upon a rich body of literature on cadre management and the fiscal system, and will be good reading for graduate and advanced students. All in all, the book is a welcome contribution to the literature of rural credits, and testifies to how much work is still needed on this important subject. * The China Journal *This book would be ideal for students of political economy, rural development, local government, and public finance in China, among others. The clear writing style and the richly informative local case studies also make the book all the more enjoyable. -- Gang Guo * Journal of Chinese Political Science *Table of ContentsPart I. Overview and Research QuestionsChapter 1. Local Governments, Rural Credit, and Regional Development in ChinaAppendix: Case Study Indicators, Household Survey, and SourcesChapter 2. The Rural Financial System and Rural Development in ChinaPart II. The Design of China's Economic and Political InstitutionsChapter 3. The Design of China's Rural Credit InstitutionsChapter 4. The Implications of Cadre Evaluation and Fiscal System for Local-Government BehaviorAppendix: Township Cadre Evaluation Criteria in Wenling County, Zhejiang ProvincePart III. Case Studies: Blind Men and the ElephantChapter 5. Diverging Pathways to Prosperity: Privately Led vs. Local Government-Led IndustrializationChapter 6. The Local Government-Led Path to Rural DecayAppendix: Revenue and Expenditures of the Perished TownshipsConclusionAppendix: List of Non-Survey Field Interviews, 2003–6Notes Glossary of Chinese Terms Index
£37.80
Cornell University Press The International Origins of the Federal Reserve
Book SynopsisThe argument in this book is of very great interest for understanding current battles over financial institutions around the world. And it is of great interest to students of institutional creation and design more broadly."—Political Science QuarterlyTrade ReviewA valuable book that opens a new perspective on the origins of the nation's most powerful financial institution. * Journal of American History *According to Broz, opportunities for the U.S. to become an international financial center constituted a major motive in the formation of the Federal Reserve System. * Choice *Essential reading in upper-division and graduate courses on money and banking and political economy. Broz has contributed an important and, until now, neglected element to the explanation of the origins of the Federal Reserve. * Perspectives on Political Science *If you have an interest in central bank theory, get this book. If you have an interest in macroeconomic history, get this book. If you have an interest in the origin and evolution of political institutions, get this book. Lawrence Broz presents an original and thought-provoking account of the origins of the Federal Reserve System that is a must read for students of central bank theory, history, and policy analysis.... Broz sheds new light on the 'origins' issue.... The International Origins of the Federal Reserve System is as close as possible to an academic 'can't-put-it-down' book. For those whose interest is sparked by the title, you will not be disappointed by this highly readable and original work. * Journal of Economic History *This fine book does, as promised, explain the emergence of central banking in the United States. That's value enough, but beyond that, the book provides leverage for handling an important collective action problem in the rationalist account of the creation of institutions.... The functionalism in efficiency explanations of institutions has always been a weakness, for it cannot explain the micro-incentives needed for action. Broz's approach provides a key conceptual road map out of that bind. The argument is of very great interest for understanding current battles over financial institutions around the world. And it is of great interest to students of institutional creation and design more broadly. * Political Science Quarterly *
£29.75
Stanford University Press Values in Translation
Book SynopsisThis book explores the organizational culture of the largest international development organization—the World Bank—and addresses the question of why the Bank has not adopted a human rights policy or agenda.Trade Review"Sarfaty uses anthropological analysis to identify internal obstacles to such a policy, including a clash of expertise between lawyers and economists over how to define human rights and justify their relevance to the Bank's mission." -- Law & Social Inquiry"Sarfaty pushes readers' understanding of the [World] Bank and human rights beyond the conventional fixation on the Bank's core mandate and formal rules of operation and cogently analyzes the culture of the Bank to explain successes and failures in the adoption of human rights norms. This book contributes new insights to several fields, including international human rights, global governance, development, and law . . . Highly recommended." -- J. R. Strand * CHOICE *"Why has the World Bank been so slow to take on human rights? This fascinating ethnography follows the movement of people and ideas within the Bank to show how human rights were 'economized' in order to be heard. It offers great insight into the way organizations work and into the cultural dimensions of law." -- Sally Engle Merry * New York University *"The book offers a unique inside study of the culture of the World Bank and how it affects the Bank's attitudes toward human rights. It is an important book for those wanting to understand international organizations, human rights, and development." -- Edith Brown Weiss * Professor of International Law at Georgetown University Law Center; Former President of the World Bank Inspection Panel *
£78.30
Edward Elgar Publishing Ltd The New Global Political Economy
Book SynopsisThis thought-provoking book illustrates why the `old’ international order is unable to provide crucial global public goods such as monetary and financial stability in the fight against mass poverty and climate change.Table of ContentsContents: Preface Part I: Why a Supranational Political Economy? 1. The Invisible Leviathan Part II: Global Imbalances, Income Inequalities and Regional Integration 2. Global Imbalances and the Dollar Standard 3. Globalization and Income Inequalities 4. Multipolarity and Regional Integration Part III: Money and Finance as Supranational Public Goods 5. Money as a Supranational Public Good 6. Finance as a Supranational Public Good References Index
£98.00
Edward Elgar Publishing Ltd The Islamic Debt Market for Sukuk Securities
Book SynopsisThe relatively new sukuk (or Islamic debt securities) markets have grown to more than US $800 billion over the past decade, and continue to grow at a rate of around 20-30 per cent per year.Table of ContentsContents: Foreword Preface 1. Introduction to Sukuk Islamic Debt Securities Markets Mohamed Ariff, Munawar Iqbal and Shamsher Mohamed PART I: FUNDAMENTALS OF SUKUK SECURITIES 2. Sukuk Securities, their Definitions, Classification and Pricing Issues Mohamed Ariff, Meysam Safari and Shamsher Mohamed 3. History of Sukuk: Pragmatic and Idealist Approaches to Structuring Sukuk Abdullah Saeed and Omar Salah 4. A Guide to Islamic Finance Principles and Financial Engineering Munawar Iqbal 5. Hıstory of Islamic Public Finance: Gharar and Risk Aversıon Murat Çizakça PART II: REGULATIONS OF SUKUK MARKETS 6. Regulatory Lessons on Sukuk Financial Products, an Opinion Peter Casey 7. Regulation and Supervision of Sukuk Industry in Bahrain Sat Paul Parashar 8. Securitization Issues and Islamic Financial Products with Reference to Sukuk Michael T. Skully PART III: SUKUK MARKETS AND INDUSTRY PRACTICES 9. Stylized Facts About Islamic Sukuk Markets Nassar H. Saidi 10. Sukuk Industry Development in the Bahrain Capital Market Sat Paul Parashar 11. Bond Pricing Practices in the Sukuk Market in Malaysia Meor Amri Ayob 12. Origination, Issuance, Marketing and Listing of Sukuk Securities Mohamed Ariff and Shamsher Mohamed 13. The Role of IDB in Islamic Capital Market Development Salman Syed Ali Khan 14. Prospects and Challenges of Developing Sukuk Islamic Debt Markets Around the World Mohamed Ariff, Munawar Iqbal and Shamsher Mohamed Index
£104.00
Edward Elgar Publishing Ltd The Evolution of Central Banking and Monetary
Book SynopsisThis book of case studies is a significant contribution to monetary macroeconomics in which country-specific experience and issues in inflation and monetary policy are reviewed and analysed in an historical context.Trade Review‘Hossain's book The Evolution of Central Banking and Monetary Policy in the Asia-Pacific is a welcome contribution to the understanding of the impact of different monetary policy frameworks on macroeconomic outcomes in the region. Through selected case studies focusing on twelve different countries at varying stages of development, the book brings to the table a nice blend of rich description about their historical evolution of monetary policies, as well as a competent empirical analysis of important macroeconomic variables yielding insightful policy lessons.’ -- Journal of Southeast Asian Economies‘This book will not only be of great value to researchers and academics who are interested in reading the history of central banking and monetary policy in the Asia-Pacific, but also to university students who are studying monetary economic; and central banking, as this book serves as a comprehensive textbook .’ -- Asian-Pacific Economic LiteratureTable of ContentsContents: 1. Introduction 2. Australia 3. China 4. Hong Kong, SAR of China 5. India 6. Japan 7. South Korea, 8. New Zealand 9. The Philippines 10. Singapore 11. Sri Lanka 12. Thailand 13. The United States Appendices Index
£166.00
Edward Elgar Publishing Ltd Central Banking and Monetary Policy in
Book SynopsisThe introduction of Islamic banking and finance across the globe strengthens the argument for low and stable inflation and rule-based monetary policy for sustained economic growth.Trade Review‘This book is a major contribution to the fledgling literature on Islamic banking and financial institutions. It offers a comprehensive and novel analysis of the interplay of Islamic and conventional banking based on new evidence pieced together from nine Muslim-majority countries. The analysis is well informed by the relevant theory and the ongoing policy debate. The book will not only be of interest to researchers and students, but also to analysts in the policy making community.’ -- Prema-chandra Athukorala, Australian National UniversityTable of ContentsContents: 1. Introduction 2. Bahrain 3. Bangladesh 4. Egypt 5. Indonesia 6. Iran 7. Malaysia 8. Pakistan 9. Saudi Arabia 10. Turkey Index
£122.00
The Peterson Institute for International Economics Financial Services Liberalization in the WTO
Book Synopsis
£18.86
The Peterson Institute for International Economics The ExIm Bank in the 21st Century A New Approach
Book Synopsis
£15.29
The Peterson Institute for International Economics Financing Development The Power of Regionalism
Book Synopsis
£18.86
Edward Elgar Publishing Ltd Islamic Finance in Eurasia
Book SynopsisProviding a comprehensive account of the progress, potential and challenges facing Islamic finance in Eurasia, this prescient book explores Islamic financeâs history and development across the Asian and European continents and argues that in order for this market to continue to prosper, innovation and adaptation is a necessity.Trade Review‘It is hard to find books focusing on Islamic finance in Eurasia. I congratulate and commend the efforts of the publisher, editors and contributors of this book for compiling various important aspects of the development of Islamic finance in Eurasia which is not limited only to the developments; but potential and challenges as well.’ -- Mansor Ibrahim, Deputy President, INCEIF University, Malaysia‘Through this book we realise that irrespective of the faith convictions and the number of Muslims residing in a particular country or region, Islamic finance is essential to be developed for sustainable development. There is no doubt that today’s Islamic finance has gained momentum in the world as a proxy to conventional financing.’ -- Mehmet Huseyin Bilgin, Professor of Economics, Istanbul Medeniyet University, Turkey‘This book is a source of inspiration to realise the untapped potential of Islamic finance in Eurasia. Through this book it is easy to realise the exponential development of Islamic finance in Eurasia while understanding the significance of strategic leadership role as an essential ingredient for success. The selected case studies discussed in this book are useful to appreciate the innovative practices in Islamic finance.’ -- Zamir Iqbal, Vice President of Finance, Islamic Development Bank, Saudi ArabiaTable of ContentsContents: Foreword xv Federica Miglietta Acknowledgement xviii Introduction to Islamic Finance in Eurasia 1 M. Kabir Hassan, Paolo Biancone and Aishath Muneeza PART I PROGRESS OF ISLAMIC FINANCE IN EURASIA 1 The state of Islamic finance in Europe 7 Omar Rehan Baig, Aishath Muneeza, M. Kabir Hassan and Paolo Biancone 2 Developments of Islamic Finance in Eastern Europe and Caucasus Region 27 Madina Kalimullina 3 Islamic Finance in South Asian Association for Regional Cooperation (SAARC) Countries 44 M. Kabir Hassan, Ismail Mohamed, Shadman Shakib, Muath Mubarak, Aishath Muneeza and Paolo Biancone 4 The driving factors for the advance of Islamic finance in Southern Europe 79 Monsurat Ayojimi Salami 5 Growth of Islamic finance in Northern Europe 101 Mouad Sadallah, Mohammed Soufiane Benmoussa and Saeed A. Bin-Nashwan PART II POTENTIAL OF ISLAMIC FINANCE IN EURASIA 6 Islamic finance and the demand for Islamic home financing solutions within the Dutch Islamic consumer segment 129 Erik Lesterhuis, Aishath Muneeza and M. Kabir Hassan 7 Debt-free diminishing Musharaka home finance in the United Kingdom: An empirical case study of primary finance 150 Salman Hasan and Abu Umar Faruq Ahmad 8 The role of multilateral organizations in the development of Islamic finance in Asia 162 Priyesta Rizkiningsih, Cindhi Cintokowati, Randi Swandaru, Aishath Muneeza and M. Kabir Hassan 9 The role of cash waqf in resolving the financing challenges for human development 184 M. Kabir Hassan, Aishath Muneeza and Paolo Biancone 10 The role of sukuk in developing real estate projects 210 Aishath Muneeza, Sherin Kunhibava, M. Kabir Hassan and Paolo Biancone PART III INNOVATIVE ISLAMIC FINANCE PRACTICES AND CHALLENGES 11 Financial Sustainability Challenges of Hajj Financial Management Agency (BPKH) in Indonesia: What Really Matters? 221 Dony Perdana, Saeed A. Bin-Nashwan, Aishath Muneeza and M. Kabir Hassan 12 Challenges facing the development of Islamic finance in Western Europe 250 Rihab Grassa 13 Challenges in establishing digital Islamic banks in Malaysia 262 Siti Nuraisyah Binti Mohammed Sulaiman and Aishath Muneeza 14 The challenges facing Islamic finance in Uzbekistan 283 Viktoriya Muzaffarova and Aishath Muneeza 15 Blockchain sukuk to assist financing challenges facing microfinance in Indonesia 306 Sherin Kunhibava, Zakariya Mustapha, Maryam Khalid and Aishath Muneeza Index 323
£115.00
Edward Elgar Publishing The Elgar Encyclopedia of Central Banking
£283.50
John Wiley & Sons Inc The Economics of Banking
Book SynopsisThe Economics of Banking describes and explains the behaviour of banks by examining trends and operations in banking within a mathematically accessible microeconomic framework.Table of ContentsPreface xi Chapter 1 : Trends in Domestic and International Banking 1 1.1 Introduction 1 1.2 Deregulation 3 1.3 Financial Innovation 4 1.4 Globalization 6 1.5 Profitability 8 1.6 The Future 16 1.7 Conclusion 19 1.8 Summary 19 Questions 20 Test Questions 21 Chapter 2 : Financial Intermediation: The Impact of the Capital Market 23 2.1 Introduction 23 2.2 The Role of the Capital Market 24 2.3 Determination of the Market Rate of Interest 30 2.4 Summary 34 Questions 35 Test Questions 35 Chapter 3 : Banks and Financial Intermediation 37 3.1 Introduction 37 3.2 Different Requirements of Borrowers and Lenders 38 3.3 Transaction Costs 40 3.4 Liquidity Insurance 43 3.5 Asymmetry of Information 46 3.6 Operation of the Payments Mechanism 51 3.7 Direct Borrowing from the Capital Market 51 3.8 Conclusion 52 3.9 Summary 53 Questions 53 Test Questions 53 Chapter 4 : Banking Typology 55 4.1 Introduction 55 4.2 General Features of Banking 56 4.3 Retail Banking 59 4.4 Wholesale Banking 61 4.5 Universal Banking 63 4.6 Islamic Banking 64 4.7 Microfinance 66 4.8 Shadow Banking 68 4.9 Summary 70 Questions 70 Test Questions 70 Chapter 5 : International Banking 71 5.1 Introduction 71 5.2 The Nature of International Banking 72 5.3 Growth of International Banking 75 5.4 The Eurocurrency Markets 77 5.5 Summary 84 Questions 84 Test Questions 85 Chapter 6 : The Theory of the Banking Firm 87 6.1 Introduction 87 6.2 The Textbook Model 88 6.3 The Perfectly Competitive Bank 90 6.4 The Monopoly Bank 92 6.5 The Imperfect Competition Model 97 6.6 Summary 100 Questions 100 Test Questions 101 Chapter 7 : Models of Banking Behaviour 103 7.1 Introduction 103 7.2 The Economics of Asset and Liability Management 104 7.3 Liquidity Management 104 7.4 Loan Pricing 109 7.5 Asset Management 112 7.6 The Real Resource Model of Asset and Liability Management 118 7.7 Liability Management and Interest Rate Determination 120 7.8 Summary 123 Questions 124 Test Questions 124 Chapter 8 : Credit Rationing 125 8.1 Introduction 125 8.2 The Availability Doctrine 126 8.3 Theories of Credit Rationing 127 8.4 Asymmetric Information and Adverse Selection 129 8.5 Adverse Incentive 130 8.6 Screening versus Rationing 133 8.7 Empirical Evidence 135 8.8 The Existence of Credit Rationing 136 8.9 Summary 139 Questions 140 Test Questions 140 Chapter 9 : Securitization 141 9.1 Introduction 141 9.2 Sales of Securities through Financial Markets 144 9.3 Asset-Backed Securitization (ABS) 146 9.4 The Process of Asset-Backed Securitization 147 9.5 The Gains from Asset-Backed Securitization 148 9.6 Conclusions 155 9.7 Summary 155 Questions 155 Test Questions 156 Chapter 10 : Banking Efficiency and the Structure of Banking 157 10.1 Introduction 157 10.2 Measurement of Output 157 10.3 Performance Measures 159 10.4 Reasons for the Growth of Mergers and Acquisitions 169 10.5 Motives for Mergers 172 10.6 Empirical Evidence 173 10.7 Summary 179 Questions 180 Test Questions 180 Chapter 11 : Banking Competition 181 11.1 Introduction 181 11.2 Concentration in Banking Markets 182 11.3 Structure–Conduct–Performance 184 11.4 Competition Analysis 186 11.5 Competition in the UK Banking Market 192 11.6 Summary 198 Questions 198 Test Questions 199 Chapter 12 : Bank Regulation 201 12.1 Introduction 201 12.2 The Case for Regulation 202 12.3 The Case against Regulation 209 12.4 Regulation 215 12.5 Summary 228 Questions 228 Test Questions 228 Chapter 13 : Banks and Money Laundering 229 13.1 Introduction 229 13.2 Scale, Scope and Typology 230 13.3 Microeconomics of Money Laundering 235 13.4 Macroeconomics of Money Laundering 241 13.5 Combating Money Laundering 242 13.6 Summary 244 Questions 245 Test Questions 245 Chapter 14 : Risk Management 247 14.1 Introduction 247 14.2 Risk Typology 248 14.3 Interest Rate Risk Management 250 14.4 Market Risk 260 14.5 Credit Risk 270 14.6 Operational Risk 279 14.7 Risk Management and the Global Banking Crisis 279 14.8 Conclusion 283 14.9 Summary 284 Questions 284 Test Questions 285 Chapter 15 : The Macroeconomics of Banking 287 15.1 Introduction 287 15.2 The Economics of Central Banking 288 15.3 Financial Innovation and Monetary Policy 297 15.4 Bank Credit and the Transmission Mechanism 302 15.5 Summary 309 Questions 309 Test Questions 310 References 311 Index 323
£51.25
John Wiley & Sons Inc Value and Capital Management
Book SynopsisA value management framework designed specifically for banking and insurance The Value Management Handbook is a comprehensive, practical reference written specifically for bank and insurance valuation and value management. Spelling out how the finance and risk functions add value in their respective spheres, this book presents a framework for measuring and more importantly, influencing the value of the firm from the position of the CFO and CRO. Case studies illustrating value-enhancing initiatives are designed to help Heads of Strategy offer CEOs concrete ideas toward creating more value, and discussion of hard and soft skills put CFOs and CROs in a position to better influence strategy and operations. The challenge of financial services valuation is addressed in terms of the roles of risk and capital, and business-specific value trees demonstrate the source of successful value enhancement initiatives. While most value management resources fail to adequately Table of ContentsList of Abbreviations xiii Preface xvii Acknowledgments xix About the Author xxiii Part One Introduction 1 Chapter 1 Why is Value Management Important? 3 Better Information 3 Better Insights 6 Better Decisions 8 Why Shareholder Value? 12 Chapter 2 How do CFOs and CROs Add Value? 15 The Evolution of the Corporate Center as “Shareholder Surrogate” 15 The Implications for the CFO 20 The Implications for the CRO 24 Part Two Better Information – Measuring Value 29 Chapter 3 RAPMs – The Industry Standard 31 What Makes Financial Services Unique? 31 What do RAPMs do and How? 34 The RAPM (R)evolution 37 Three RAPMs for Three Distinct Purposes 41 Linking Directly to Shareholder Value 46 Insurance Example 49 Banking Example 50 Chapter 4 Two Challenges in Using RAPMs 51 Do RAPMs Influence Strategy? 51 Do RAPMs Give the Right Signals? 55 Chapter 5 Valuing Financial Services – The Theory 71 What Determines Share Value? Market Multiples, RoE and Growth 71 But What Determines Market Multiples? 73 Why a Market-Consistent Approach? 77 Value: Where it Comes from and How to Create More of it 80 Chapter 6 Valuing Financial Services – The Evidence 85 Evidence from the Insurance Industry 85 Evidence from Banking 96 Is it Just me or are Others Thinking the Same Thing? 98 Chapter 7 Market-Consistent Valuation for Insurers 101 Introduction to Fair Valuation for Insurers 101 Calculating Traditional Embedded Value 104 European Embedded Value 106 Market Consistent Embedded Value (MCEV) 109 How is MCEV Calculated in Practice? 115 From MCEV to MVBS 120 Final Comments: Whither MCEV? 122 Part Three Better Insights – Managing Value 125 Chapter 8 Property and Casualty Insurance 127 History and Economic Rationale 127 From Principles to Rules of the Game 133 From Rules to the Valuation of PC Businesses 135 PC KPIs: Understanding and Managing Value 140 Chapter 9 Life and Health Insurance 151 History and Economic Rationale 151 From Principles to “Rules of the Game” 163 LH Valuation 167 Understanding Value Creation: Capital Intensity and Financial Risk Taking 171 Chapter 10 Banking 189 History 189 Products 195 Economic Rationale 197 From Principles to “Rules of the Game” 199 From “Rules” to Value 201 Chapter 11 Achieving Profitable Growth 211 Rules of the Game and KPIs 211 Management Actions – Three Horizons of Growth 217 Horizon 1 – Increasing Sales Productivity 218 Horizon 1 – Going Multi-channel 221 Horizon 1 – Getting More out of Existing Customers; cross sell, big data and customer loyalty 224 Horizon 1 – Managing the Customer Portfolio Skew 228 Horizon 2 – Anticipating Mega-trends 230 Horizon 2 – Exploiting Adjacencies 232 Horizon 2 – Transformational and Bolt-on Acquisitions 234 Horizon 3 – Creative Disruptions 238 Chapter 12 Achieving Operating Efficiency 241 The Importance of Operating Efficiency 242 Rules of the Game 248 Pay Less: Optimize Procurement 249 Pay Less: From Business Process Redesign to Outsourcing 250 Use Less, But More Effectively: Digitize and Automate 253 Use Less, But More Effectively: Re-engineer the Product Portfolio 254 Use Less, But More Effectively: Managing Acquisition Expenses 257 Part Four Better Decisions – Capital, Balance Sheet and Risk Management 261 Chapter 13 Corporate Strategy and Capital Allocation 263 Corporate Strategy, Capital Allocation and Performance Management 263 Capital Allocation: The Capital Budget, from Sources to Uses of Capital 265 Capital Allocation: Optimizing the Corporate Portfolio 273 Capital Allocation: Aligning Financial Resources within Constraints 278 Chapter 14 Strategic Planning and Performance Management 285 What is Strategic Planning? 285 Why does Strategic Planning Fail and What can be done About it? 295 Corporate Strategy 302 Chapter 15 Balance Sheet Management 311 Balance Sheet Management Activities 311 The Asset/Liability Committee (ALCO) Mandate and Agenda 314 The Asset/Liability Management (ALM) Unit 323 The Insurer ALM-Investment Value Chain 330 The Treasury Function 339 Chapter 16 The Economics of Asset/Liability Management 345 The Role of ALM Earnings 345 The Risks: Some Spectacular ALM Failures 349 The Returns: Are Shareholders Willing to Pay a Premium or a Discount? 361 Chapter 17 The Practical Aspects of Asset/Liability Management 371 ALM Performance and Risk Measures 372 Calculating Funds Transfer Prices (FTPs) 385 Measuring Alpha 406 Chapter 18 Cash and Liquidity Management 413 Managing Funding Liquidity Risk 413 What Happens if it Goes Wrong? 416 Measuring Funding Liquidity Risk 420 Chapter 19 Managing the Capital and Funding Structure 431 Capital Funding Management 431 Determining the Optimal Capital Structure 436 The Empirical Reality: What Determines Capital Structure? 446 Chapter 20 Risk Management 451 Enterprise Risk Management 451 Taking the Right Decisions 460 The Role of Culture 463 Chapter 21 Risk Governance and Organization 477 Risk Governance Principles 477 Role of the Board and Management 478 Three-Line-of-Defense Model 480 The Risk Function 484 Chapter 22 Risk Identification and Evaluation 491 From Risk Identification to Evaluation 491 Data-Driven Approaches 497 Evaluation-Based Approaches 499 Building a Resilient Organization 507 Chapter 23 Risk Underwriting – Strategy and Governance 513 Underwriting Context 513 Underwriting Strategy 518 Underwriting Governance 522 Chapter 24 Risk Underwriting – Technical Tools 527 Retail Segment: “Scoring” Models 527 Commercial Lines: Leveraging Expert Judgment 535 Underwriting Structured Solutions 541 Underwriting Controls, Validation and Learning 542 Chapter 25 Risk Underwriting – From Technical Pricing to Value Maximization 549 Technical Production Cost: RAPM Pricing 549 From Technical Pricing to Optimal Price 558 Chapter 26 Managing Operational and Reputational Risks 571 Defining Operational Risk 571 Managing Operational Risk 581 Chapter 27 Risk and Limit Controlling 589 Risk Reporting 589 An Effective Risk Limit Framework 601 Final Thoughts on Risk and Limit Reporting 606 Appendices Appendix A: Market Multiple Approaches 609 Appendix B: Derivation of Steady-State Valuation Multiples 613 Appendix C: Valuing Banks and Insurers: The Link Between Value and New Business and Investment RAPM 621 Appendix D: Beyond Debt and Equity 629 Glossary 641 References 653 Index 675
£79.80
John Wiley & Sons Inc Bankers Guide to New Small Business Finance
Book SynopsisDetailed, actionable guidance for expanding your revenue in the face of a new virtual market Written by industry authority Charles H. Green, Banker''s Guide to New Small Business Finance explains how a financial bust from one perfect stormthe real estate bubble and the liquidity collapse in capital marketsis leading to a boom in the market for innovative lenders that advance funds to small business owners for growth. In the book, Green skillfully reveals how the early lending pioneers capitalized on this emerging market, along with advancements in technology, to reshape small company funding. Through a discussion of the developing field of crowdfunding and the cottage industry that is quickly rising around the ability to sell business equity via the Internet, Banker''s Guide to New Small Business Finance covers how small businesses are funded; capital market disruptions; the paradigm shift created by Google, Amazon, and Facebook; private equity in searchTable of ContentsFigures and Tables xi Preface xiii Acknowledgments xix About the Author xxi Part One: Survey of Funding Small Business 1 Chapter 1: How Small Businesses Are Funded 3 Defining Small Business 3 ABCs of Small Business Funding 8 Usual Suspects Providing Business Capital 10 The Rise of Alternative Financing 12 Chapter 2: Elusive Nature of Bank Funding 15 Risk Appetite Is an Oxymoron 16 Source of Bank Funding Limits Its Use 17 Small Business Credit Is Difficult to Scale 19 Loan and Bank Size Are Inversely Related 20 Chapter 3: Capital Market Disruptions, Post-2008 23 Didn't Anyone See Bubble Coming? 23 This Time Was Different 25 Where Did Main Street Funding Go? 29 SBA—Main Street's Federal Bailout? 30 Supply versus Demand—Did Anyone Ask for a Loan (and What Was the Answer)? 33 Post-Crisis Reflections on Financial Regulation 37 Part Two: A Perfect Storm Rising 43 Chapter 4: A Paradigm Shift Created by Amazon, Google, and Facebook 45 Amazon Creates Digital Trust 46 Who Answered All Those Questions Before? 49 Your Opinion Is (In)valuable 51 How Do These Changes Affect Small Business Lending? 54 Chapter 5: Private Equity In Search of ROI 59 The Fed's Low Interest Policy and the Effects on the Private Investor 60 Wall Street Isn't Main Street 60 First Buy In, Then Invest Up 62 A Cautionary Note about a 72 Percent APR 67 Chapter 6: First Change the Marketplace, Then Change the Market 71 Old Thinking/Technology Can Stifle Credit 72 Morality and Money 78 The Unintended Consequences of Old Law 79 Capital Markets Go Digital 81 Pattern Recognition—Data Is the Game Changer 82 Different Processes and Different Views 84 Crowdfunding versus the Crowd That Got Funding 86 The Rise in Alternative Paths to Source Funding 88 Billions Went Missing and No One Noticed? 89 Part Three: Digital Dynamics in Small Business Funding 93 Chapter 7: Funders and Lenders—Online Capital Providers 95 Innovative Funding Marketplace 95 Online Funders: Purchasing Future Receipts 97 Online Lenders: Money from the Cloud 106 Chapter 8: Crowdfunding with Donors, Innovators, Loaners, and Shareholders 125 Donors—Funding Arts, Solving Problems, and Floating Local Businesses with No Strings Attached 125 Innovators—Buy It, I'll Build It 133 Loaners—Brother Can You Refinance My Visa? 135 Shareholders—Online Market for Equity 140 Crowded Elevator? 147 Chapter 9: Other Innovative Funding Sources on the Rise 151 Factoring in the Digital Age 151 Working Capital Management as a Financing Strategy 156 Investing Retirement Funds in Self, Inc. 157 No Store, No Hours, No Bank, No Problem—Virtual Lenders for Virtual Merchants 160 Taking as Much Time as Needed to Repay 164 Chapter 10: Capital Guides—Online Resources to Find, Coach, and Assist Borrowers and Lenders 167 Loan Brokers 168 Other Online Resources 174 Chapter 11: What Innovation Means for Bank Lending 177 Competition Erodes Banks' Share of Small Business Loans (Again) 178 What Banks Can Fund (but Won't) versus What Banks Cannot Fund (but Will) 180 The Best Defense Is Still a Good Offense 182 Banks Still Have the Most Customers and Cheapest Bucks in Town 184 What's Next? Character Redux, Rise of Alternative Payments, and? 186 About the Companion Website 191 Index 193
£45.12
John Wiley & Sons Inc Breaking Banks
Book SynopsisIn the next 10 years, we''ll see more disruption and changes to the banking and financial industry than we''ve seen in the preceding 100 yearsBrett King Breaking Banks: The Innovators, Rogues, and Strategists Rebooting Banking is a unique collection of interviews take from across the global Financial Services Technology (or FinTech) domain detailing the stories, case studies, start-ups, and emerging trends that will define this disruption. Features the author''s catalogued interviews with experts across the globe, focusing on the disruptive technologies, platforms and behaviors that are threating the traditional industry approach to banking and financial services Topics of interest covered include Bitcoin''s disruptive attack on currencies, P2P Lending, Social Media, the Neo-Banks reinventing the basic day-to-day checking account, global solutions for the unbanked and underbanked, through to changing consumer behavior BreaTable of ContentsAcknowledgments xi About the Author xiii Introduction: An Industry Being Reborn and Reinvented xv Chapter 1: A New Take on Credit and Lending 1 Chapter 2: The Era of the Faster, Smarter Payment 23 Chapter 3: Banks that Build Their Brand without Branches 47 Chapter 4: How the Crowd Is Changing Brand Advocacy in Banking 71 Chapter 5: Not Your Father's Banking Habits 91 Chapter 6: Is Bitcoin the End of Cash? 115 Chapter 7: Moving from Personal Financial Management to Personal Financial Performance 137 Chapter 8: When Technology Becomes Humanlike, Does a Real Human Provide a Differentiated Experience? 151 Chapter 9: Here Come the Neo-Banks! 165 Chapter 10: Building Experiences Customers Love 197 Chapter 11: Money Can Buy Happiness 223 Conclusion: We're Not Breaking Banking, We're Rebooting and Rebuilding It 239 Index 253
£24.79
John Wiley & Sons Inc The Next Revolution in our CreditDriven Economy
Book SynopsisGo inside the research to see the global consequences of unethical banking The Next Revolution in our Credit-Driven Economy: The Advent of Financial Technology integrates market theory and practice to help investors identify growth opportunities, and to help regulators create a sustainable economic environment. Author Paul Schulte, former economic analyst with the National Security Council, draws upon his own decade-spanning research to demonstrate how unethical banking practices provide the brute force that drives political and economic crises worldwide. By unbundling how credit markets work, this authoritative guide provides deep insight into crisis avoidance and detection, successful investment climates, and the groundwork that must be in place for policy makers to build a sound basis for economic growth. Clear, succinct case studies provide examples of policy and its effects on economic stability, giving you a stronger understanding of the network of forces that dTable of ContentsAcknowledgments xvii About the Author xix About the Website xxi Introduction: A Few Numbers Can Crack the Code xxiii PART ONE How Bank Credit Drives Economics (Not the Other Way Around) and Why CHAPTER 1 A Few Simple Concepts That Anyone Can Understand 3 CHAPTER 2 Differences between Liquidity and Solvency Are Thin 23 CHAPTER 3 Anatomy of a Credit Crisis and Examples in the Real World 33 PART TWO I Am from the Government, and I Am Here to Help Your Broken Banking System CHAPTER 4 Socialization of Debt after Mismanagement by Bankers (or, Why Keynesian Economics Doesn’t Work) 55 CHAPTER 5 Why Capitalist Bankers Create Soviet Banking Models When the Going Gets Rough 75 CHAPTER 6 Central Banks Are Carrying the Greatest Load and Will Dominate Outcomes 89 CHAPTER 7 How Bankers and Policy Rescuers Affect Stocks, Foreign Exchange, and Property 103 PART THREE Interlude CHAPTER 8 Why Government and Institutions Get Suckered into Debt Binges 119 PART FOUR The Revolution in Financial Architecture CHAPTER 9 Why Is This Revolution Happening Now and Why So Fast? 135 CHAPTER 10 The Revolution in Alternative Investments 145 CHAPTER 11 The Revolution in Big Data and SME Lending in the Emerging World 157 CHAPTER 12 Banking and Analytics—The PayPal Gang, Palantir versus Alibaba, and Hundsun 177 Appendix 195 Bibliography 197 Index 199
£36.09
John Wiley & Sons Inc Mapping the Risks and Risk Management Practices
Book SynopsisDeep, insightful analysis of controversial risk management issues in Islamic banking Mapping the Risks And Risk Management Practices In Islamic Banking is a comprehensive analysis of the current state of risk management practices within the Islamic banking industry, with recommendations for policy makers, bankers, and industry stakeholders. Going beyond the academic, this book presents the opinions and perceptions of industry financiers and bankers, alongside primary information and data collected by Islamic finance professionals to deconstruct and analyze the sector''s current risk management practices. You''ll get up to date on the latest attitudes and trends, and delve into the current issues surrounding risk management in Islamic banks. With a focus on practical applications, this authoritative guide discusses the unique risks facing Islamic banks, from the perspective of a wide range of practitioners. Risk management is one of the biggest, most controversiTable of ContentsForeword xi About the Authors xiii Chapter 1 Introduction: Research Background and Motivation 1 Systemic Importance of Islamic Banking and Finance 3 Research Aims, Objectives and Questions 5 Research Hypotheses 6 Significance of the Study 7 Overview of the Research Methodology 9 Overview of the Research 10 Chapter 2 Principles of Islamic Banking and Finance 13 Historical Background of Islamic Banking and Finance 14 Size of the Industry 17 Principles of Islamic Banking and Finance 20 Basic Islamic Financing Contracts 20 Sukuk: A Step Toward Securitisation 25 Islamic Banking Versus Conventional Banking 31 Institutional Developments in Islamic Banking and Finance Industry 33 Conclusion 39 Chapter 3 Risk Management in Islamic Banks: A Theoretical Perspective 41 Risk Management: Basic Concepts and Techniques 44 Risk Management and the Credit Crunch 51 Classification of Risks 51 Risks Common to Both Islamic and Conventional Banks 54 Further Risk Areas Specific to Islamic Banks 93 Risk Categories are Entangled 106 Risk Management Issues in Sukuk 107 Risk Mitigation in Islamic Banking 110 Surveying Risk Management Practices in Islamic Banks: A Review of Empirical Research 120 Conclusion 123 Chapter 4 Capital Adequacy for Islamic Banks: A Survey 127 Significance of Capital in Banking 128 Classification of Capital 129 Steps in the Basel Accord 130 Basel II and Islamic Banks 138 Basel III 142 IFSB Principles on Capital Adequacy 143 Capital Adequacy as a Tool for Risk Mitigation 150 Conclusion 151 Chapter 5 Islamic Banking and the Financial Crisis 153 Understanding the Credit Crisis 156 The Financial Crisis and the Need for an Alternative System 163 The Financial Crisis and Islamic Finance and Banking as an Alternative Option 163 Deviations from the Foundational Shari’ah Principles: Evaluating the Operations of Islamic Finance 173 How to Achieve the Full Potential of Islamic Finance 177 Conclusion 181 Chapter 6 Research Framework and Methodology 183 Research Questions and Objectives 183 Research Hypotheses 185 Research Methodology 191 Research Design 191 Research Strategy 193 Research Method 194 Difficulties and Limitations 210 Conclusion 211 Chapter 7 Profiling Perspectives of Risk Dimensions in Islamic Finance: Descriptive Questionnaire Data Analysis 213 Data Analysis and Results 213 Conclusion 250 Chapter 8 Analysing Perceptions of Risk and Risk Management Dimensions and Issues: Inferential Statistical Analysis 253 Risk Perception 254 Risk Management and Reporting 295 Risk Measurement 301 Risk Mitigation 303 Islamic Banking in Practice 304 The Next Chapter in Islamic Banking 306 Conclusion 307 Chapter 9 Exploring Perceptions of Risk and Risk Management Practices in Islamic Banking: Interview Data Analysis 309 Interview Analysis 309 Forming the Main Interview Themes 310 Interview Questions 310 Results and Data Analysis 311 Conclusion 335 Chapter 10 Contextualising the Findings: An Interpretative Discussion 337 Risk Perception in Islamic Banking 337 Islamic Finance Contracts 345 Additional Risk Issues Facing Islamic Financial Institutions 351 Capital Adequacy for Islamic Banks 353 Islamic Banking and the Global Credit Crisis 356 Risk Management and Reporting 363 Risk Measurement 365 Risk Mitigation 367 Islamic Banking in Practice 370 The Future of Islamic Banking 372 Conclusion and Summary 378 Chapter 11 Conclusion and Research Recommendations 381 Summary of the Research 381 Reflecting on the Research Findings 382 Research Implications and Recommendations 386 Limitations of the Study 389 Suggestions for Future Research 390 Appendix 1: Questionnaire 393 List of Acronyms 401 Epilogue 403 Bibliography 405 Index 415
£85.50
John Wiley & Sons Inc Analysing and Interpreting the Yield Curve
Book SynopsisUnderstand and interpret the global debt capital markets Now in a completely updated and expanded edition, this is a technical guide to the yield curve, a key indicator of the global capital markets and the understanding and accurate prediction of which is critical to all market participants. Being able to accurately and timely predict the shape and direction of the curve permits practitioners to consistently outperform the market. Analysing and Interpreting the Yield Curve, 2nd Edition describes what the yield curve is, explains what it tells participants, outlines the significance of certain shapes that the curve assumes and, most importantly, demonstrates what factors drive it and how it is modelled and used. Covers the FTP curve, the multi-currency curve, CSA, OIS-Libor and 3-curve modelsGets you up to speed on the secured curveDescribes application of theoretical versus market curve relative value tradingExplains the concept of the risk-free rateAccessible demonstration of curve interpolation best-practice using cubic spline, Nelson-Siegel and Svensson 94 models This advanced text is essential reading for traders, asset managers, bankers and financial analysts, as well as graduate students in banking and finance.Table of ContentsForeword ix Preface xi Preface to the First Edition xiii Acknowledgments xv About the Author xvii Part 1 Introduction to the Yield Curve 3 Chapter 1 The Yield Curve 5 Chapter 2 A Further Look at Spot and Forward Rates 61 Part 2 Yield Curve Modelling and Post-2008 Yield Curve Analytics 93 Chapter 3 Interest Rate Modelling I: Primer on Basic Concepts 95 Chapter 4 Interest Rate Modelling II: The Dynamic of Asset Prices 115 Chapter 5 Interest Rate Models I 139 Chapter 6 Interest Rate Models II 163 Chapter 7 The Index-Linked Bond Yield Curve 181 Chapter 8 Yield Curve Analytics in the Post-2008 Era 193 Chapter 9 Negative Interest Rate Analytics 219 Part 3 Fitting the Yield Curve 229 Chapter 10 Estimating and Fitting the Yield Curve I 231 Chapter 11 Estimating and Fitting the Yield Curve II 253 Part 4 Yield Curves and Relative Value Trading 277 Chapter 12 Yield Curves and Relative Value 279 Chapter 13 Identifying Relative Value in the US Treasury Market: Acquiring New Benchmark Definitions from an Ancillary Yield Curve 291 Appendix: Bond Yield Measurement 321 Index 353
£94.50
John Wiley & Sons Inc Islamic Capital Markets and Products
Book SynopsisEnsure Basel III compliance with expert analysis specific to Islamic Finance Islamic Capital Markets and Products provides a thorough examination of Islamic capital markets (ICM), with particular attention to the products that they offer and the legal and regulatory infrastructure within which they operate. Since Islamic banks act as asset managers, attention is paid to the regulatory challenges which they face in the light of Basel III, as regards both eligible capital and liquidity risk management. The authors of the chapters are professionals and practitioners, and write from experience. The editors also contributed to some of the chapters. The markets and products covered include Islamic equities, Islamic investment certificates (Sukūk) which are Shari''ah compliant alternatives to conventional bonds, and Islamic Collective Investment Schemes. The coverage of legal and regulatory issues includes an examination of the implications for ICM of securitiesTable of ContentsForeword Acknowledgments About the Authors Chapter 1: Overview of the Islamic Capital MarketBy Simon Archer, Brandon Davies and Rifaat Ahmed Abdel Karim Chapter 2: Islamic Capital Markets and Islamic EquitiesBy Nor Rejina Abdul Rahim Chapter 3: Sukuk – Unlocking the Potential for Economic DevelopmentBy Dr. Sayd Farook and Redha Al Ansari Chapter 4: Islamic Collective Investment SchemesBy Simon Archer and Brandon Davies Chapter 5: Legal And Regulatory Considerations Pertaining to Islamic Capital MarketsBy Michael J.T. McMillen Chapter 6: Regulatory Aspects of the Islamic Capital Market and Basel III RequirementsBy Musa Abdul-Basser Chapter 7: Shari'ah Foundations of Islamic Equity Investment Criteria and Purification of InvestmentsBy Mohamed A. Elgari Chapter 8: Collateralisation in Islamic Capital MarketsBy Richard Thomas Chapter 9: Eligible Capital and Capital InstrumentsBy Brandon Davies Chapter 10: Regulatory Aspects of the Islamic Capital Market and Basel III Requirements – Shariah-compliant Bank Capital InstrumentsBy Rafe Haneef Chapter 11: Liquidity Risk Management and High Quality Liquid AssetsBy Simon Archer and Rifaat Ahmed Abdel Karim Chapter 12: Malaysia’s Islamic Capital Markets – A Case StudyBy Obiyathulla Ismath Bacha and Daud Vicary Abdullah Chapter 13: Bahrain’s Islamic Capital Markets – A Case StudyBy Dr Hatim El-Tahir Chapter 14: Sukuk Issued as Regulatory Capital Instruments for Basel III Compliance – A Case StudyBy Abdullah Haron Chapter 15: Concluding RemarksBy Simon Archer and Rifaat Ahmed Abdel Karim Appendix A: Nominate Contracts Employed as a Basis for Shari’ah Compliant Financial Transactions Appendix B: A Note on Market Index Providers Index
£95.00
John Wiley & Sons Inc The Handbook of Banking Technology
Book SynopsisCompetitive advantage in banking comes from effective use of technology The Handbook of Banking Technology provides a blueprint for the future of banking, with deep insight into the technologies at the heart of the industry.Table of ContentsPreface ix Chapter 1 Introduction 1 1.1 Banking and the Rise of Technology 1 1.2 The Challenges of Technology in Large Banks 3 1.3 Navigating This Book 4 1.4 References 7 Chapter 2 The History and Current State of Banking 8 2.1 A Brief History of Banking 8 2.2 Cash, Gold and Digital Money 11 2.3 Branch Centrism 14 2.4 Banking Consolidation 16 2.5 The Development of Modern Banking Products and Services 24 2.6 Developments in Banking Technology 33 2.7 The Challenges of Technology in Banking 39 2.8 New Banking Models 41 2.9 The Impact of the 2008 Banking Crisis 46 2.10 The Current State of Banking 50 2.11 Further Reading 55 2.12 References 56 Chapter 3 An Introduction to Banking Technology 67 3.1 Introduction 67 3.2 A Model of a Simple Bank 67 3.3 The Core Banking Platform 68 3.4 Database Architectures 72 3.5 Making Platforms Highly Available 80 3.6 Platform Architectures 85 3.7 Revisiting Our Simple Model of a Bank 91 3.8 Single Customer View 92 3.9 IBM CICS 95 3.10 Internet Banking 104 3.11 Customer Authentication 108 3.12 Remote Procedure Calls 113 3.13 Distributed Objects and CORBA 116 3.14 Services 117 3.15 Web Services 119 3.16 RESTful Web Services 123 3.17 Service-Oriented Architecture 125 3.18 An Updated Model of Our Bank 127 3.19 Application Processing 128 3.20 Microservices 129 3.21 Modern Databases 133 3.22 Data Analysis and Reporting 135 3.23 Further Reading 146 3.24 References 147 Chapter 4 Channels 149 4.1 Introduction 149 4.2 Branches 150 4.3 Branch Technology 152 4.4 Post 157 4.5 Automated Teller Machines 158 4.6 Telephony 168 4.7 Online Chat 169 4.8 Video Calling 169 4.9 Handling Telephone, Chat and Video Contacts 170 4.10 Text Messaging 194 4.11 Internet 195 4.12 Email 195 4.13 Mobile 196 4.14 Social Media 198 4.15 Marketing 198 4.16 Cross-channel Considerations and Implications 200 4.17 References 203 Chapter 5 Banking Operations 207 5.1 Contact Centre 207 5.2 Payment Operations 208 5.3 Cash Management 210 5.4 Credit Operations 210 5.5 Collections and Recoveries 213 5.6 Fraud Services 214 5.7 References 227 Chapter 6 Card Payments 230 6.1 Types of Card 230 6.2 Information on a Payment Card 232 6.3 How a Card Payment Works 233 6.4 Card Payment Networks 238 6.5 Other Types of Card Transactions 243 6.6 Managing Payment Cards 245 6.7 References 257 Chapter 7 Payments 259 7.1 Introduction 259 7.2 Cash 260 7.3 Cheques 262 7.4 Direct Credits 267 7.5 Clearing and Settlement 267 7.6 Interbank Payments 268 7.7 Payment Fraud and Sanctions 284 7.8 Payment Reconciliation 284 7.9 Payment Technology 286 7.10 References 294 Chapter 8 Regulation, Finance and Compliance 297 8.1 Introduction 297 8.2 Regulation 297 8.3 Global Standards 303 8.4 Working with (and within) Regulation 303 8.5 Finance Functions – Introduction 304 8.6 Finance 305 8.7 Treasury 307 8.8 Compliance 313 8.9 Human Resources 315 8.10 Procurement 317 8.11 Other Corporate Functions 317 8.12 References 318 Chapter 9 The Technology Function 321 9.1 Organisation and Governance 321 9.2 Conway’s Law 325 9.3 Cost of Technology 326 9.4 Working with the Business – It’s about the Service, Not the Technology 327 9.5 Service Management 329 9.6 Mapping Services to Applications 331 9.7 Governing the Application Estate 332 9.8 Insourcing and Outsourcing 334 9.9 Managing the Estate 337 9.10 Following the Rules – Regulation, Law and Technology 343 9.11 References 346 Chapter 10 The Future of Banking 348 10.1 Broad Trends 348 10.2 Changing Products, Features and Functions 352 10.3 The Future of Payments 352 10.4 Technology in Operations 354 10.5 Regulation 355 10.6 Finance 355 10.7 The Technology Function 356 10.8 A Short Digression on Data 356 10.9 Banking Products and Services 357 10.10 Distributed Ledger Technologies and Cryptocurrencies 359 10.11 The Future of the Branch 360 10.12 Headcount, Skills and Career Progression in the Bank of the Future 361 10.13 References 362 About the Authors 365 Index 367
£47.50
John Wiley & Sons Inc Breaking Digital Gridlock Website
Book SynopsisStrategic technology strategy for smaller financial institutions Breaking Digital Gridlock empowers credit unions and community banks to make the shift to digitaleven without a seven-figure consulting budget. From leadership, to technology, to security, and more, this book provides effective, real-world strategies for taking the leap without tearing your organization apart. With an emphasis on maintaining the culture, services, and features you have carefully crafted for your customers over the years, these strategies allow you to make your organization more resistant to digital disruption by adopting key technologies at key points in their evolution. Expert advice grounded in practicality shows how FinTech partnerships and strategic technology acquisition can foster new growth with minimal disruption, and how project management can be restructured to most effectively implement any digital solution and how to implement and leverage analytics. Specific implementation adTable of ContentsForeword xi Preface xv Acknowledgments xxi Introduction xxiii Five Myths about Going Digital xxiii John’s Story xxvi Part I Processes 1 Chapter 1 How to Improve Internal Processes 3 Regulatory Gridlock 3 Regulatory Gridlock in Action 4 The Risk Spectrum 5 Flawed Bank Processes 7 Continual Improvement 9 Project Management 10 Waterfall 10 Agile 11 When to Use Agile versus Waterfall 13 In-house Staff and Outside Vendors 13 Process Management 16 Team Organization: Centers of Excellence 17 Cultural Considerations 18 Part II Technology 21 Chapter 2 Tech Evolution versus Tech Revolution 23 Evolutionary Technology 23 Evolution in Banking 25 True Revolution 27 The Financial Revolution 29 Chapter 3 The Cloud 35 The Financial Cloud 36 What Are You Afraid Of? 39 It Is Hard to Control 39 It Is Insecure 40 Data Will Be Shared with Others 40 It’s Unreliable 41 It’s Super Expensive 41 There Will Be Staff Cuts 42 The Internet Could Go Down 43 It Is a Direct Expense 43 What about Our Data Center? 44 The Cloud Won’t Conform to Regulatory Needs 44 The Cloud Kills Baby Seals 44 Types of Cloud Services 45 Infrastructure as a Service (IaaS) 45 Software as a Service (SaaS) 46 Platform as a Service (PaaS) 46 Major Players in the Cloud 47 Amazon Web Services 47 Microsoft Azure 48 Google Compute Engine 48 Commonalities between Each of These Platforms 48 How to Choose? 49 Capital One in the Cloud 49 Strategies for Moving to the Cloud 49 Note 52 Chapter 4 Artificial Intelligence 53 Computers Will Be Trainable 53 Machine Learning: Familiar Names 54 Artificial Intelligence versus Intelligent Augmentation 56 The AI Threat 67 Notes 70 Chapter 5 Application Programming Interface (API) 71 Why Create an API? 71 Getting Started 83 For the Technology Organization 83 For the Services Organization 83 The Second Step 84 The Third Step 84 Chapter 6 Blockchain and Cryptocurrency 87 Bitcoin: A Brief History 87 Decentralization 88 Security 90 Blockchain 91 Permissioned Networks 97 How to Use a Distributed Ledger 99 Part III Security 103 Chapter 7 Sovereign Identity 105 Trust Frameworks 110 Encryption and Data Security 111 Sovereign Identity in Practice 113 Weaknesses in the Current Identity System 115 Phishing 115 EMV 115 Consumer Privacy Concerns 116 An Opportunity for Financial Institutions 116 Note 123 Chapter 8 The Hacker Threat 125 The Artificial Intelligence Threat 127 Planning for the Worst 128 Operation Ababil 132 DDoS Attacks 133 Be Afraid When Things Are Down. Be Very Afraid When Things Are Going Well 134 Security as a Process of Innovation 136 The Equifax Breach 137 Scenario Planning 141 Scenario 1: NSA Backdoor 141 Scenario 2: Ransomware 143 Scenario 3: Cyber Infrastructure Attack 144 Scenario 4: Internet of Things Breach 145 Notes 147 Part IV People 149 Chapter 9 The Digital Change Is for Everyone 151 Human Resources 151 Remote Employees 151 Evaluations 153 Career Paths 153 Incentives and Compensation 154 Recruiting 154 Training 155 Dress Code 157 Facilities 157 Workspaces 158 Wi-Fi 159 Equipment 159 Meet-ups 160 Accounting: Software Depreciating 160 Chapter 10 Who Can Break Gridlock? 165 Common Symptoms of People Problems 168 Lack of Consistency 168 Cost and Time Overruns 168 Human Solutions 169 Chief Digital Officer (CDO) 169 Chief Analytic Officer (CAO) 170 Data Is Money 171 Part V Culture 175 Chapter 11 Culture and Innovation 177 Where Does Culture Start? 178 Culture Breakdowns 180 Culture and Talent 181 Steps to an Innovative Culture 185 Collaboration 186 Communications 188 Rewards and Evaluations 191 Achievement versus Alignment 191 Notes 194 Chapter 12 Culture and Technology 195 A Tale of Two Cultures 195 Having It Your Way—BYOP 200 Part VI Strategy 205 Chapter 13 The Long View 207 The Problem: Banking and Financial Competitors 208 Threats: The –tions 209 Interchange Compression 209 Cannibalization 211 Digitization 212 Mobilization 212 Disintermediation 213 The Reality of Change 213 Changing Features or Services 215 Cost 217 Service 217 Security 217 Features 217 How Solutions Can Fail 218 Note 224 Chapter 14 Digital Governance 225 Review Proposed Products and Integration 228 Change Control 229 Review Security 229 Accountability 229 Business Continuity 230 Schedule Approval 231 Build versus Buy 231 Final Approval on Recommended Vendors 232 Data Governance 233 Data Quality 236 Data Security 238 Data Duplication 238 Data Engineering 239 Chapter 15 Using Data Analytics 243 Look Ahead 244 Credit Card Usage 246 Usage Monitoring 249 Digital “Why” 101 250 Digital Marketing 252 Chapter 16 Big Data and the Zombie Apocalypse 259 Apocalyptic Risk 261 Staffing in an Apocalypse 261 Creating Value 264 Digital Insight and Intuition 265 Data Is Valuable 266 Data Is a Discipline 269 Types of Analytics 273 Note 278 Conclusion 279 Cultural Issues 281 People Strategy 282 Process Changes 283 Technology 284 Security 286 About the Companion Website 289 Index 291
£24.79
John Wiley & Sons Inc Achieving Investment Excellence
Book SynopsisCrucial methods, tactics and tools for successful pension fund management Achieving Investment Excellence offers trustees and asset managers a comprehensive handbook for improving the quality of their investments. With a stated goal of substantially and sustainably improving annual returns, this book clarifies and demystifies important concepts surrounding trustee duties and responsibilities, investment strategies, analysis, evaluation and much more. Low interest rates are making the high cost of future pension payouts fraught with tension, even as the time and knowledge required to manage these funds appropriately increases it is no wonder that pensions are increasingly seen as a financial liability. Now more than ever, it is critical that trustees understand exactly what contributes to investment success and what detracts from it. This book details the roles, the tools and the strategies that make pension funds pay off. Understand the rolTable of ContentsAbout the Authors xiii Acknowledgments xv Foreword xvii Introduction 1 Levels of Excellence: Assessing and Improving Your Practice 6 How to Use the Book 8 Chapters of the Book 9 Part One Pension Funds: Understanding the Role, Shaping the Mission Chapter 1 The Role of Pension Funds, and the Role of Boards 19 The Role of Pension Funds 20 The Pension Triangle 22 Duties of Trustees 24 Responsibility as a Fiduciary 26 Delegation and Agency Relationships 27 Responsibilities as a Board Member 30 Responsibilities as a Shareholder 31 Balancing the Three Roles 31 Understanding and Managing Your Stakeholders 32 Government 32 Regulator 32 Financial Markets 33 Non-Governmental Organizations 34 Endnotes 34 Case Study—GEPF 36 Chapter 2 Developing Purpose, Mission, Vision, and Goals 39 The Functions of a Pension Fund 41 Purpose 44 Mission 45 Values 46 Vision 49 Strategic Goals 50 Endnotes 51 Part Two Designing the Process Chapter 3 Grasping the Investment Essentials 55 Investment Goals 56 Understanding Return Concepts 57 Return 57 Expectations 57 Understanding Risk Concepts 59 Risk is not Volatility 60 Risk Premium 61 Getting Risk Measures Right 62 Risk Is about Behavior 63 Steering Your Portfolio 64 Benchmarks 65 Diversification 66 Conventional vs. Alternative Assets 67 Active vs. Passive Investing 68 Better Beta: Styles and Factors 70 Responsible Investing 70 Motives or Mission 71 Instruments 72 Endnotes 72 Case Study—PFZW 74 Chapter 4 Investment Beliefs as Guiding Tools 77 Why Investment Beliefs Matter 78 Basics of an Investment Belief 81 Developing a Set of Investment Beliefs 82 When, If Ever, Is the Time to Change Investment Beliefs? 83 How (Not) to Use Investment Beliefs 87 Endnotes 88 Case Study—New Zealand Superannuation Fund 90 Chapter 5 Designing the Investment Management Process 93 The Investment Process 94 Setting Objectives: Aligning Goals and Risk Appetite 95 Investment Objectives 99 Formulating Expectations 100 Portfolio Construction 101 Implementation and Monitoring 103 Implementation 103 Monitoring 103 The Investment Policy Statement 105 Endnotes 108 Chapter 6 Organizing the Investment Function 109 Inventorizing Investment Models 110 Model 1: Traditional Asset Allocation Model 112 Model 2: Endowment Model 112 Model 3: Factor Allocation Model 114 Model 4: Opportunity Cost or Reference Portfolio Model 116 Model 5: Dual Strategic/Operational Benchmark Model 119 Model 6: Risk Parity Model 120 Developing Your Own Investment Approach 122 Endnotes 123 Case Study – GPFG 124 Part Three Implementing the Investments Chapter 7 Implementing the Investment Strategy 129 Organizing the Implementation 130 The Rationale for Managing Costs 132 Selection of Managers 134 Active vs. Passive Management 136 Internal vs. External Management 138 Relationship with Suppliers 139 Bridging the Implementation Gap 141 Endnotes 142 Case Study—ATP 144 Chapter 8 Building the Investment Portfolio 147 Framework for the Investment Portfolio 148 The Board’s Role in Portfolio Construction 151 What Is a Good Investment Portfolio? 152 Capital Market Assumptions 156 Diversification 157 Rebalancing 160 Endnotes 160 Case Study—OTPP 161 Chapter 9 Monitoring and Evaluation 164 Monitoring 165 What to Monitor? 167 Monitoring as a Multidimensional Process 168 Monitoring the Policy 169 The Position of Monitoring on the Investment Committee’s Agenda 170 What Is the Optimal Frequency for Monitoring? 171 Monitoring Should Be Based on a Sound Approach: It Should Never Be a Mechanical Exercise 171 What to Look for in Monitoring 171 When Does a Board Move from Monitoring to Evaluation? 175 Evaluation 176 Endnotes 178 Part Four Organizing the Board Chapter 10 Becoming an Effective Board 181 Responsibilities of the Board 181 Board Composition 185 What is Expected from Board Members? 187 What is Expected of the Chair? 188 Appointing New Board Members 189 Governance Budget of the Board 191 Board Decision-Making Culture 193 Supporting the Board: Executive Office and Staff 194 Ingredients of an Effective Board 197 People and Board Composition 197 Process 198 Perspective 198 The Right Altitude, Horizon and Distance 198 Power and Delegation 198 Learning 199 Endnotes 199 Case Study—CalPERS 200 Chapter 11 Establishing the Investment Committee 203 Roles and Responsibilities 204 Advise the Board on an Investment Policy Statement 205 Evaluate the Managers’ Performance and Take Appropriate Actions 205 Document the Investment Process and Decisions Made 205 Members of the Investment Committee 207 Forming an Effective Investment Committee 208 The Role of the Chairman of the Investment Committee 210 A Model for an Effective Investment Committee Meeting 210 The Investment Committee Agenda 211 Committee Preparation: Quality, Clarity and Timeliness and Extent of Materials 212 Roles 213 The Results of the Meeting 214 Evaluation and Learning 214 Endnotes 215 Chapter 12 Managing the Investment Management Organization 216 The Roles of the Investment Management Organization 217 Functions and Typical Evolution of the IMO 219 Outsourcing 222 Subsidiaries: Majority or Fully Owned by the Pension Fund 223 Pros and Cons of a Proprietary IMO 225 Issues in Dealing with an Investment Organization 225 The Service Level Agreement 227 Monitoring and Evaluating the Investment Management Organization 228 Endnotes 228 Case Study—Future Fund 229 Part Five Learning, Adapting and Improving Chapter 13 Learning to Decide and to Take Advice 235 Psychology of Decision-Making: Biases, Preferences, and Habits 236 Group Processes on the Right Track 241 Learning to Make Complex Decisions 243 Using Expert Opinions 245 The Investment Consultant 247 Challenges and Dilemmas in Taking Advice 249 Decision-Making under Pressure 251 Endnotes 254 Chapter 14 Achieving Investment Excellence 255 The Five Activities Driving Towards Excellence 256 Activity 1: Setting the Strategy (Chapters 1–2) 257 Activity 2: Designing the Investment Process (Chapters 3–6) 257 Activity 3: Implementing the Investments (Chapters 7–9) 259 Activity 4: Organizing the Board (Chapters 10–12) 259 Activity 5: Learning to Adapt (Chapter 13) 261 The Learning Board and the Characteristics of the Levels of Excellence 261 Leadership 262 Resources 262 Mind-Set and Culture 262 Measures and Scorecards 263 Maintenance and Education 264 Levels of Excellence and the Board Learning Perspective 264 The Board’s Journey towards Achieving Excellence 264 Step 1: Determine Where You Are Now 264 Step 2: Define Your Long-Term Ambition 266 Step 3: Define the Roadmap 266 Step 4: Execute the Roadmap 267 Enduring Investment Excellence 267 Endnotes 269 Self-Reflection Questions 270 Appendix A 282 Appendix B 284 References 293 Index 301
£61.75
John Wiley & Sons Inc Money Without Boundaries
Book SynopsisDiscover how blockchain will facilitate a new currency that will transcend space and time Largely inspired by The Denationalization of Money by Fredrich Hayek, Money Without Boundaries' ideological foundation is also inspired by economists and thought leaders like Milton Friedman and Irving Fisher, advancements in capital markets over the past 50 years, and the convergence of old and new technologies. Author Thomas J. Anderson explains how blockchain acts as the filter and the glue, making it all possible. Compared with other currencies, blockchain-managed money markets are more straightforward and transparent. It is easier to monitor, understand, and assess the quality of their full-faith and credit. Money Without Boundaries shows how not only money, but also the process of borrowing and lending, will evolve to be conducted in a 100% trusted, secure, transparent, open architecture environment. Anderson begins with a history of money and discusses the rise of cryptocurrency, concludingTable of ContentsPreface xi Acknowledgments xxi Introduction 1 What is Money? 2 Money as a Store of Value 5 Demise of the Gold Standard 6 Planting the Seed for the Denationalization of Money 9 Part One: The Foundation 11 Chapter 1: Money Through Time – A Different Perspective 13 “The Holy Gift of Free Gold” 17 National Debt, National Blessing? 18 Following the Yellow Brick Road 21 “Breaking of the Gold Fetters” 24 “Let Me Lay to Rest the Bugaboo…” 27 Chapter 2: The Fundamentals of Money 31 Narrow Money versus Broad Money 33 The Theory of Money and Credit 35 Full Faith and Credit: Money is the Government’s Debt 37 Chapter 3: Banking – An Overview 41 A System That Multiplies Money 43 Money is Credit, and Credit is Money 45 “Not for Profit, Not for Charity, but for Service” 45 Chapter 4: The Denationalization of Money 47 Irving Fisher: Abolish Fractional Reserve Banking 48 Milton Friedman and Setting the Nominal Interest Rate to Zero 50 Friedrich Hayek: Denationalize Money 51 Chapter 5: The Rise of Cryptocurrency 55 Coins and Tokens 57 Is it a Security or a Utility? The Howey Test 60 Stablecoin: Establishing Trust and Stability 62 How Should We Value Coins and Tokens? 63 Chapter 6: The Role Model 69 Everything the Banking System is Not 71 Part Two: The Four Pillars – Our Building Blocks 77 Chapter 7: Pillar 1 – Modern Portfolio Theory and the Risk-Free Asset 79 Evolving Modern Portfolio Theory and the Risk-Free Asset 83 Summary of Pillar 1 84 Chapter 8: Pillar 2 – The Credit Theory of Money 87 Creating Money Under the Credit Theory of Money 88 Creating a Medium of Exchange 91 Summary of Pillar 2 93 Chapter 9: Pillar 3 – Solving the Trust Gap = Blockchain 95 It All Started with the Cloud 98 What, Exactly, is Blockchain? 100 Why Should We Care? 103 How Does Blockchain Work? 103 Why Would Anybody Do This? 106 Who Maintains the Network? 107 Blockchain Components and Ecosystem 108 Protocol Tokens and App Coins/Tokens: Working Together 112 The Other Layers 114 Summary of Pillar 3 115 Chapter 10: Pillar 4 – Capital Markets as a “Technology” 117 What are Capital Markets? 118 What are Money Market Accounts? 119 What’s in a Money Market Fund? 121 How Efficient is the Repurchase Market? 123 How Does This Relate to Our Third Pillar, Blockchain? 124 What is Securitization, and Why the Prejudice Against It? 125 How Securitization Works 126 How Subordination Works 128 Slicing and Dicing Our Way to Risk-Free 129 Summary of Pillar 4 130 Part Three: The Concept 133 Chapter 11: Transcending Space and Time 135 From Star Trek to the Death Star 136 “Copper, Beads, and Such Like Trash” as Money 138 A Store of Value that Transcends Space and Time 140 Chapter 12: Bringing the Building Blocks Together 141 A Known Store of Value: The Blockchain Revolution 143 A Different Objective: Zero Risk 144 Weight, Mass, and the “Risk-Free Rate” 144 The Kilogram and the Specimen 145 An Elastic Definition of the Specimen 149 A Sample Specimen 151 Convergence Checklist 154 Chapter 13: A Neural Network Begins 155 A Perspective on a Decentralized Market in Money 156 The Other Sides of Zero 159 The Paradigm Begins to Shift 160 The Paradigm Shifts: One Loan 162 The Neural Network is Born 164 Chapter 14: Conclusion 165 Securitizing Individuals at an Individual Level with Blockchain 170 Welcome to a Whole New World, Mr. Keynes 172 Appendix A: The Future of Money – A Credit-Based Society 175 Structural Superiority 177 Illustration 178 Appendix B: A House of Cards 179 A Debt-Fueled Illusion 181 Our Perspective Must Shift 182 Glossary 185 Resource Guide 191 Bibliography 207 About the Author 221 Endnotes 223 Index 241
£19.54
John Wiley & Sons Inc Banking on Change
Book SynopsisPRAISE FOR Banking on Change In this 140th Anniversary celebration book, The London Institute of Banking and Finance stick to their core function of educating us all, but especially aspirant bankers, on the role and concerns of (retail and commercial) banking in the UK. They have assembled a well-chosen group of practitioners from a range of professions to write clear and easily assimilable essays, no technical expertise required, on a wide variety of current banking issues. If you want to learn about the current practices and problems of UK retail banking, this book must be essential reading. Charles Goodhart, emeritus professor of banking and finance at the London School of Economics In this important book, a line from Bill Allen''s contribution is key: ''Nobody can predict the ferocity of the gale of creative destruction'' that faces the financial services sector. True; but if you read the many and varied contributions, you''ll havTable of ContentsAbout the Editor vii About the Contributors ix Foreword by Steven Haberman xv About the Book xvii Introduction: Navigating the Centuries 1Ouida Taaffe The Business of Banking – Reflections, and Directions of Travel Chapter 1 Banking, Finance and Society: What Keeps the Motor Running? 11Peter Hahn Chapter 2 Standing the Test of Time 21Paul Lynam Chapter 3 What Happens When Nobody is Watching: Regulation, Bank Risk Culture and Achieving Environmental Sustainability 27Kern Alexander and Paul Fisher Chapter 4 It Takes an Ecosystem: The Future of Trade Financing 43Alexander Malaket Chapter 5 A New Playbook for Banks 55William A. Allen Chapter 6 Sustainable Investment: The Golden Moment 69Elizabeth Corley Chapter 7 Living ‘Off Income’ 79Richard Tomlinson Chapter 8 Power to the Customer: Disrupting Banking 93Anne Boden Chapter 9 RIP Libor 101Richard Northedge Chapter 10 Boosting UK Bank Competition: Still Many Cliffs to Climb 115Martin Stewart Banking – People and Skills Chapter 11 Changing the Face of Banking and Finance 125Shelley Doorey-Williams Chapter 12 Getting the Right Stuff 141Mike Thompson Chapter 13 Financial Education: How to Make it Count 149Andy Davis Banking, Technology and the Future Chapter 14 Banking on Identity 163David G. W. Birch Chapter 15 Going Over the Top 173Renier Lemmens Chapter 16 Banking Technology: Can the Centre Hold? 183Anthony Gandy Chapter 17 The Future of Payments 199Ruth Wandhöfer The Role of the Institute as a Life-Long Partner for Education Chapter 18 Life Lessons 211Alex Fraser Index 217
£33.25
John Wiley & Sons Inc Transactional to Transformational
Book SynopsisThrough a series of case studies you are invited to meet, and learn firsthand from, the people and teams that have delivered a number of very different innovations successfully across a diverse group of banks; big and small, long established and brand new, from the east and west! Banks featured include: Bank of America, BBVA, Citi, Crédit Agricole, Danske Bank, Deutsche Bank, ING, J.P. Morgan, Lloyds Bank, Metro Bank, N26, National Australia Bank, Royal Bank of Canada, Santander, Standard Chartered and Swedbank. This book will equip you with ideas, tools and actionable hands-on advice. You will discover the untold stories about how these banks delivered new solutions to consumers and businesses, products as well as services, across the spectrum of buy, build and partner. Here are some of the innovation challenges you can overcome by learning from those that already did: Working around legacy systems Limited tech resources and budget Table of ContentsForeword xi Introduction xv Part i: Buy 1 Invest Chapter 1: Lloyds Banking Group 3 Chapter 2: BBVA 19 Acquire Chapter 3: Metro 33 Chapter 4: J.P. Morgan 48 Part ii: Build 61 Incubate in-house Chapter 5: Crédit Agricole 63 Chapter 6: National Australia Bank 77 Build in-house Chapter 7: Citi 93 Chapter 8: Bank of America 107 Spin out Chapter 9: ING 120 Chapter 10: Santander 133 Part iii: Partner145 Fintechs and startups Chapter 11: Deutsche Bank 147 Chapter 12: Danske Bank 161 Banks and other corporates Chapter 13: Swedbank 175 Chapter 14: Standard Chartered 190 Part iv: Bonus: Ways of Working 205 Chapter 15: N26 207 Chapter 16: Royal Bank of Canada 222 Index 235
£18.99
John Wiley & Sons Inc CryptoDad
Book SynopsisAn insider's account of the rise of digital money and cryptocurrencies Dubbed CryptoDad for his impassioned plea to Congress to acknowledge and respect cryptocurrencies as the inevitable product of a fast-growing technological wave and a free marketplace, Chris Giancarlo is considered one of the most influential individuals in financial regulation. CryptoDad: The Fight for the Future of Money describes Giancarlo's own reckoning with the future of the global economyat the intersection of markets, technology, and public policyand lays out the fight for a Digital Dollar. CryptoDad is Giancarlo's own personal story, detailing his forays into the world of Wall Street to his tenure as the 13th Chairman of the United States Commodity Futures Trading Commission (CFTC), where he pushed for the agency to recognize the digitization of markets. His growing fame as a Twitter presence in this essential debate has given Giancarlo a platform to makes a case for the future of cryptocurrencies as the natural successor to America's current failing financial market infrastructure. CryptoDad provides readers with: A thorough exploration of digital change and how it affects the lives of everyone in a global economyA revolutionary consideration of regulatory responses to the rapid pace of technological innovationA call to update our aging financial organizations, particularly the infrastructure of money itself, and focus on renewed faith and confidence in free market innovationA foreword by Cameron and Tyler Winklevoss, two of the biggest names in cryptocurrencies CryptoDad argues that the next digital wave will be the coming Internet of Value, where cryptocurrencies will do the Internet of Information did to immaterial things: make them accessible, distributable, and movable instantly across the globe. This book is an ideal introduction to the importance of technology in the marketplace.Table of ContentsForeword ix Preface xiii Introduction xvii Part I Opening Laps 1 Chapter 1 Down in the Swaps 3 Chapter 2 Starting Grid 19 Chapter 3 Heading Down the Highway 35 Chapter 4 Scanning the Horizon 49 Chapter 5 Meeting the Locals 69 Part II Reading the Dashboard 83 Chapter 6 Taking Hold of the Wheel 85 Chapter 7 Bitcoin Approaches the Beltway 115 Chapter 8 Go Time 135 Part III Slipstream 159 Chapter 9 Facing Resistance 161 Chapter 10 “CryptoDad” 179 Chapter 11 The Oval Office 193 Chapter 12 The Road Goes On 203 Part IV Finish Line 227 Chapter 13 Last Laps 229 Chapter 14 Checkered Flag 243 Chapter 15 The Winding Crypto Road 253 Chapter 16 Digital Dollars 279 Conclusion: Roadside Thoughts 307 Postscript 321 Appendix: Remarks of CFTC Chairman 323 Notes 335 Acknowledgments 359 About the Author 367 Index 369 Historical Bitcoin Prices 386
£18.66
John Wiley & Sons Cannabis Banking
Book Synopsis
£23.19
Kogan Page Ltd Sustainable Investing in Practice
Book SynopsisSimon Smiles was a Group Managing Director at UBS and the Chief Investment Officer for Ultra High Net Worth Clients, where he established and ran the wealth management sustainable and impact investing teams. An IIF Future Leader, WEF Young Global Leader and member of the Milken Institute's Young Leaders Circle, he appeared regularly in global financial media speaking about sustainability and investments. Before moving to Zurich, he worked in Sydney and Hong Kong and earned a PhD in economics from the Australian National University. James Purcell is the Group Head of Sustainable Frameworks at Credit Suisse. He and his team coordinate the firm's approach to sustainable investing and lending. Previously, he was the Group Head of Sustainable, Thematic and Impact Investing at Quintet Private Bank, a privately held bank operating out of 50 cities across Europe. Earlier in his career he was a managing director at UBS, where he spent more than a decade in roles based in London, HTrade Review"A thoughtful and visionary book authored by two of the most established leaders in sustainable investing. It is insightful and inspiring while witty and entertaining. A must-read!" * Mirjam Staub-Bisang, Country Manager, BlackRock Switzerland *"A compelling read for those interested in sustainable investing and how it can be implemented in practice." * Axel A. Weber, Former President, Deutsche Bundesbank *"A refreshing change from theoretical papers. The authors are seasoned practitioners." * Mark Haefele, Chief Investment Officer, UBS Global Wealth Management *Table of Contents Chapter - 00: Introduction; Chapter - 01: What is sustainable investing?; Chapter - 02: Sustainable data and ESG ratings; Chapter - 03: Sustainable public equity markets; Chapter - 04: Sustainable public debt markets; Chapter - 05: Sustainable private markets; Chapter - 06: Themes and the United Nations Sustainable Development Goals; Chapter - 07: Sustainable multi-asset portfolios; Chapter - 08: Conclusion;
£109.25
Kogan Page Operational Risk Management in Financial Services
Book SynopsisElena Pykhova is an award-winning risk expert, author, international trainer and educator. She is founder of boutique risk management consultancy The OpRisk Company, which specializes in board - and executive - level advice on effective risk management practices. She runs public and in-house training courses in the UK and internationally for world-leading organizations such as the Euronext Academy. She is founder of a think tank, Best Practice Operational Risk Forum, former Chair of the Operational Risk Expert Panel for the Association of Foreign Banks, and Director for Education at the Institute of Operational Risk.
£114.30
John Wiley and Sons Ltd International Bank Management
Book SynopsisThis text provides current and integrated coverage of the important topics in international banking, including foreign exchange markets, derivatives, country risk analysis, asset--liability management, and banking strategies.Trade Review"Mehta and Fung's work is a textbook and more; it summarizes the lessons of global banking management of the past few decades and provides new frameworks and insights for the new century. Its detailed discussion and analysis produces a comprehensive coverage of the topic. The learning objective and discussion questions given at the beginning and the end of each chapter, respectively, together with various inserts, make the reading very appealing." Kui-Wai Li, City University of Hong Kong Table of ContentsList of Figures. List of Tables. Preface. Part I: Overview:. 1. Basic Premises. Part II: Foundation:. 2. Globalization of Commercial Banking. 3. Foreign Exchange Participation. 4. Eurocurrency Market. 5. Futures and Options in Currency and Interest Rate Markets. Part III: Applications:. 6. Swaps and Other Derivative Instruments. 7. International Credit Function for Private Business. 8. Sovereign Risk Analysis. 9. Asset and Liability Management. Part IV: Trends and Future Directions:. 10. Capital Adequacy. 11. Toward Investment Banking Activities. 12. Banking Strategy. Glossary. References and Further Rading. Index.
£37.59
Johns Hopkins University Press Other Peoples Money
Book SynopsisBy helping readers understand the financial history of this period and the way banking shaped the society in which ordinary Americans lived and worked, this book broadens and deepens our knowledge of the Early American Republic.Trade ReviewThis is a brisk, well-researched tour of how the American finance and banking sector got its start.—Financial HistoryMurphy has provided what should be the go-to source for anyone looking to understand the differences among savings banks, investment banks, and commercial banks in pre-Civil War America; to know what it meant for banks to provide discounts on commercial paper; and to know what terms like fractional reserve, independent treasury, bimetallism, shinplasters, wildcat banks, and bills of exchange meant.—Civil War Book ReviewMurphy has written what this financial historian considers a sound and reliable introductory or companion text to early American banking that is both engaging and easy-to-read, and at the same time broadly consistent with recent economic research on the topics covered.—EH.netIt [Other People's Money] does much to further our understanding of an important feature of international capital markets, and it raises crucial policy issues.—EH.NetThe strengths of this work are numerous. In addition to narrating some intriguing vignettes on Abigail Adams, Benjamin Franklin, and Herman Melville, this book contains a fascinating array of cartoons and images of credit instruments, many of which are drawn from the author’s extensive personal collection. Murphy’s writing is also straightforward; her analysis, insightful.—Common-PlaceI recommend Other People’s Money highly to anyone seeking a brief but accurate introduction to this fascinating era in banking and monetary history.—Business History ReviewOther People’s Money is a beautifully written book on “how banking worked in the early American Republic.” Part of Johns Hopkins University Press’s How Things Worked series, the target audience for this book is undergraduates studying U.S. history or economic history. The book condenses a large literature from American history and economic history as well as contemporary material from periodicals and novels into an interdisciplinary narrative of the political battles over money and banking from the early Republic to the Civil War. Murphy’s book shows that the politics of money shaped how money worked.—Jane Knodell, University of Vermont, Enterprise and SocietyIt is difficult to overstate the quality of Murphy's work. Other People's Money is an outstanding contribution that brilliantly accomplishes the herculean task of digesting the complexities of banking in the early republic. Moreover, Murphy manages to convey these points clearly in immensely readable prose. Helpful for both the layperson and the scholar, this book deserves a place on syllabi and the bookshelves of anyone with an interest in capitalism during this period. Murphy reminds the reader that the story of American banking has a long and complex history, and this erudite study does an excellent job of explaining that complexity in accessible terms.—Aaron L. Chin, University of New Hampshire, American Nineteenth Century HistoryThe real strength of Other People's Money can be found in its clear explanation of early American banking. Murphy makes a complex topic simple, but her treatment is anything but simplistic . . . Because of the book's engaging and lively discussions, I suspect that if it is assigned in classrooms Other People's Money will inspire more than a few students to dive more deeply into the complex and fascinating world of early American banking history.—Andrew J. B. Fagal, Princeton University, Journal of American HistoryTable of ContentsAcknowledgmentsPrologue. How the Bank War Worked1. How Money Worked2. How Banks Worked3. How Panics Worked4. Experiments in Money and Banking5. How Civil War Finance WorkedConclusion. Andrew Jackson, Other People's Money, and the Creation of the Federal ReserveEpilogue. Why Is Andrew Jackson Harriet Tubman on the $20 Bill?NotesSuggested Further ReadingIndex
£42.75
MP-NCA Uni of North Carolina Otto Kahn Art Money and Modern Time
£34.16
Cornell University Press Financial Citizenship
Book SynopsisGovernment bailouts; negative interest rates and markets that do not behave as economic models tell us they should; new populist and nationalist movements that target central banks and central bankers as a source of popular malaise; new regional organizations and geopolitical alignments laying claim to authority over the global economy; households, consumers, and workers facing increasingly intolerable levels of inequality: These dramatic conditions seem to cry out for new ways of understanding the purposes, roles, and challenges of central banks and financial governance more generally. Financial Citizenship reveals that the conflicts about who gets to decide how central banks do all these things, and about whether central banks are acting in everyone's interest when they do them, are in large part the product of a culture clash between experts and the various global publics that have a stake in what central banks do.Expertscentral bankers, regulators, market insiders, and thTrade ReviewAnnelise Riles makes a powerful case for this re-engineering of the argument for central-bank independence. * Survival *
£16.14
Cornell University Press The Bankers Blacklist
Book SynopsisIn The Banker''s Blacklist, Julia C. Morse demonstrates how the Financial Action Task Force (FATF) has enlisted global banks in the effort to keep bad money out of the financial system, in the process drastically altering the domestic policy landscape and transforming banking worldwide.Trillions of dollars flow across borders through the banking system every day. While bank-to-bank transfers facilitate trade and investment, they also provide opportunities for criminals and terrorists to move money around the globe. To address this vulnerability, large economies work together through an international standard-setting body, the FATF, to shift laws and regulations on combating illicit financial flows. Morse examines how this international organization has achieved such impact, arguing that it relies on the power of unofficial market enforcementa process whereby market actors punish countries that fail to meet international standards. The FATF producesTrade ReviewHer detailed research provides a thorough examination of the organization that moves beyond headlines to test out different theories of how this international organization works. * Lawfare *Julia Morse provides groundbreaking research into the FATF that makes the FATF more accessible and serves as a very helpful guide for understanding how unofficial market enforcement can be harnessed to address AML/CFT risks at the country level, both now and into the future. * Lawfare *The bankers' blacklist presents an artful paradox: its insights are greater than the sum of its parts. This is a thought-provoking book[.] * International Affairs *Table of ContentsIntroduction: Cross-Border Banking in a Globalized Era 1. A Primer on International Financial Standards on Illicit Financing 2. A Theory of Unofficial Market Enforcement 3. The FATF's Fight against Illicit Financing 4. How the Noncomplier List Drives FATF Compliance 5. Unofficial Market Enforcement against Listed Countries 6. Fighting Illicit Financing in Southeast Asia Conclusion: The Power and Peril of Markets as Enforcers
£37.40
Cornell University Press Banking on Growth Models
Book SynopsisBanking on Growth Models contends that China''s rapid economic rise from the late 1970s to today has been built on and shaped by a highly politicized and inefficient bank-centric financial system. Stephen Bell and Hui Feng argue that if the Chinese growth model drives how key economic sectors interact, no amount of incremental reform can have much impact on the financial systemmeaningful reform can stem only from a revised growth model.For a time after the global financial crisis, it appeared that the expansion of a more market-oriented shadow banking system might help sustain China''s economic growth. Since around 2015, however, Xi Jinping''s regime has reversed this trajectory and placed China''s financial system under heavy state control, resulting in slowed economic development and skyrocketing national debt. China''s market transition and economic rebalancing are now in doubt, as is the fate of the nation''s economy. By pinpointing finance as a vitalTable of ContentsIntroduction 1. Interactions Between China's Growth Model and the Financial System 2. Interests, Ideas, Institutions and the Politics of Banking and Economic Reform in China 3. Growth Model Reform and the Banks as the State's Cashier, 1979-96 4. Quick Fix Banking Reforms after the Asian Crisis, 1997-2002 5. Further Banking Reforms, 2003-8 6. The GFC and State Capitalism on Steroids 7. The GFC Critical Juncture and the Rise of Shadow Banking 8. Shadow Banking After the GFC 9. The Politics of Banking Regulation and Reform 10. Mounting Debt and Lurking Risks 11. China's Troubled Road to Economic Rebalancing Conclusion
£37.40
John Wiley and Sons Ltd Do Central Banks Serve the People?
Book SynopsisCentral banks have become the go-to institution of modern economies. In the wake of the 2007 financial crisis, they injected trillions of dollars of liquidity – through a process known as quantitative easing – first to prevent financial meltdown and later to stimulate the economy. The untold story behind these measures, and behind the changing roles of central banks generally, is that they have come at a considerable cost. Central banks argue we had no choice. This book offers a powerfully original examination of why this claim is false. Using examples from Europe and the US, the authors present and analyse three specific concerns about the way central banks in developed economies operate today. Firstly, they show how unconventional monetary policies have created significant unintended negative consequences in terms of inequalities in income and wealth. They go on to argue that central banks may have become independent of governments, but have instead become worryingly dependent on financial markets. They then proceed to analyse how central bankers, despite being the undisputed experts on monetary policy, can still err and suffer from multiple forms of bias. This book is a sobering and urgent wake-up call for policy-makers and anyone interested in how our monetary and financial system really works.Trade Review"This excellent book shows that central banking is a political process with profound distributional consequences. It is a must read for anyone wanting to know how central banks could work to serve the people."—Daniela Gabor, University of the West of England "This highly recommended book should give political leaders pause when they ask for continued blind faith in central bank maestros."—Christopher Adolph, University of Washington
£33.25
John Wiley and Sons Ltd Making Money Work for Us: How MMT Can Save
Book SynopsisIs money precious and scarce, necessitating iron fiscal discipline? Must the government always balance the books or risk ruin? Or is money, in fact, a flexible tool that can be used to mobilize our collective resources to serve those who need them? In this book, leading Modern Money Theory (MMT) advocate Randy Wray explains that the only real constraints on public policy are physical resources, technological capacity and political will: but never money. He shows how modern sovereign governments spend by keystroking money to bank accounts. While taxes serve other important purposes, they do not – contrary to popular belief – fund spending. If we recognize this, and totally reframe how we think about money and debt, we can marshal our national wealth to make us all richer, eliminate unemployment and “look after our own.” We can make money work for us – the US. This book's account shows how MMT can become a new American political and economic orthodoxy, replacing the dominant conservative framework forever. It is essential reading for all progressives.Trade Review“Neoliberal economics does not have the answers to dealing with multi-generational collective action problems but MMT holds many nuggets of wisdom … Perhaps the most important contribution of Wray’s latest writings is to stress that MMT is not a carte blanche call for government to spend without restriction but it can nonetheless shed light on how to formulate a progressive economic agenda to face the problems of today.”The Society of Professional EconomistsTable of ContentsAcknowledgements Preface Chapter 1. What is Money? Chapter 2. Where does Money Come From?Chapter 3: Can We Have Too Much Money ?Chapter 4. Balances Balance Chapter 5 : Life is Full of Trade-offs Chapter 6. The MMT Alternative Framework for Policy Chapter 7. MMT and Policy
£42.75
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
£32.00
John Wiley & Sons Inc The Theory of Monetary Institutions
Book SynopsisThe Theory of Monetary Institutions covers free banking monetary thought and a theoretical account of the evolution of monetary institutions.Trade Review"The Theory of Monetary Institutions is a thorough and insightful treatment of the emergence and evolution of money and banking regimes. Professor White's brilliant exposition of alternative regimes is innovative and sheds a great deal of light upon the crucial features of contemporary money and banking institutions. This tour-de-force is a 'must-read'." Steve H. Hanke, The John Hopkins University "Larry White's The Theory of Monetary Institutions provides a very clear, extremely readable and up-to-date overview of monetary theory. White provides a uniquely insightful perspective into a difficult and controversial area, and his arguments and analysis are unbeatable. All monetary economists should read it." Kevin Dowd, University of Sheffield "White has written an academically rigorous text covering the theory of money, banking, and monetary policy. The text stands out from others in the way it describes the evolution of economists' thinking about monetary institutions. White excels in combining the historic with the contemporary, the abstract with the tangible, and the theoretical with the practical. The chapters on alternative monetary regimes will no doubt challenge many widely-held views about the proper role of government within an economy's monetary system." James A. Overdahl "Lawrence H. White has emerged as one of the most thoughtful monetary economists of his generation, and The Theory of Monetary Institutions fills an important lacuna in the literature. The book is mature and balanced; its encyclopedic knowledge of the literature covers a far broader range of material than conventional texts. I am aware of no other book that does such a superb job of placing institutional arrangements in theoretical and historical perspective." Hugh Rockoff, Rutgers UniversityTable of ContentsList of Figures and Tables. Preface. Acknowledgments. Part 1: The Evolution of Market Monetary Institutions:. The Mystery of Money. Menger's Theory Restated. Some Implications of the Theory. From Simple Commodity Money to Coins. Bank-Issued Money. Regular Par Acceptance. Clearing Arrangements. The Path to Fiat Money. Spontaneous Separation Between the Media of Redemption and Account?. Questions. Part II: Commodity Money:. Determining the Price Level. The Simple Stock-Flow Analytics of Gold Supply and Demand. The Historical Sources of Gold Supply Disturbances. The Benefits of a Gold Standard. The Resource Costs of a Gold Standard. Is a Gold Standard Worth the Resource Cost?. Questions. Part III: Money Issue by Unrestricted Banks:. The Purchasing Power of Money. Bank Optimization and the Equilibrium Quantity of Bank-Issued Money. Correcting Over-Issue by an Individual Bank. Correcting Over-Issue by the System as a Whole. Responding to Shifts in Demand. Shifts Between Deposits and Currency. Questions. Part IV: The Evolution and Rationales of Central Banking:. Central Banking Roles and Clearinghouse Associations. The Origins of Government Central Banks. Historical Cases. Questions. Part V: Should Government Play a Role in Money?. Is Some Aspect of Money a Public Good?. Are There Relevant External Benefits in the Choice of Which Money to Use?. Are There Relevant External Benefits to the Choice of How Much Money to Hold?. iv. Is the Supply of Base Money a Natural Monopoly?. Questions. Part VI: Should Government Play a Role in Banking? . The Problem of Bank Runs. Inherent Vulnerability in Theory: The Diamond-Dybvig Model. The Fragility of the Diamond-Dybvig Bank: A Numerical Example. Deposit Insurance in the Diamond-Dybvig Model. Criticism of the Diamond-Dybvig Model. Are Deposit Contracts Inherently Fragile?. Historical Evidence on Inherent Vulnerability. Is There a Natural Monopoly in Bank-Issued Money?. Questions. Part VII: Seigniorage:. The Sources of Seigniorage. Maximizing the Take from Seigniorage. Reserve Requirements. Other Legal Restrictions. The Dynamics of Hyperinflation. The Transition Between Steady States: Is Honesty a Government's Best Policy?. How Well Does Seigniorage Explain Actual Governments' Behavior?. Questions. Appendix. Part VIII: Central Bank as Bureaucracy:. Bureaucratic Explanation of the Fed's Operating Procedures. Bureaucracy and "inflationary bias". Questions. Part IX: Political Business Cycle Hypotheses:. The Nordhaus-MacRae Model. The Rational Expectations Critique. An Alternative Formulation: Wagner's Political Seigniorage Cycle. The "Partisan" Political Business Cycle Theory. Questions. Part X: Discretion and Dynamic Inconsistency:. The Kydland-Prescott Model. Positive Implications: Using the Model to Explain Changes in Inflation. Policy Implications Under Discretion. Rules Versus Discretion. Subsequent Literature. Questions. Appendix. Part XI: Monetary Rules:. Benefits and Burdens of Counter-Cyclical Policy. Independence for the Central Bank. Arguments for Rules. Friedman's Proposals. McCallum's Case for a Feedback Rule. Simple Versus Complicated Rules. Questions. Part XII: Competitive Supply of Fiat-Type Money:. i. Klein's Model with Perfect Foresight. ii. Klein's Model with "Imperfect Foresight". Is the Equilibrium Rate of Inflation Bounded under Imperfect Foresight?. Conclusion. Questions. Part XIII: Cashless Competitive Payments and Legal Restrictions:. The Greenfield-Yeager Proposal. Is Bundles-Worth Redemption Workable?. Other Concerns About the GY Proposal. The Legal Restrictions Theory. Historical Evidence on the Non-Coexistence Prediction. Questions. References. Index.
£56.24
Emerald Publishing Limited Advances in international banking and finance
Book SynopsisThis series focuses on topics such as international financial markets, pricing options on foreign assets and the ECU as the financing currency. This volume includes a section on European acquisitions by French banks, strategies and the European financial structure. Other areas covered include: regulatory taxes; investment and financing decisions for insured banks; free trade and the European financial structure; and a critical reexamination of the return geneship process of the arbitrage pricing theory.Table of ContentsRegulatory taxes, investment, and financing decisions for insured banks, Anlong Li et al; European acquisitions by French banks, strategies, and the European financial structure - insights into a complex relationship, Bernard Marois, Francois Lepineux; project and firm valuation, foreign exchange exposure, and accounting methods with an option to liquidate, Tong Kim, Edward Omberg; listing in the U.S. markets by foreign firms - evidence on return and risks, K.G. Viswanathan; stock volatility and impact of news - the case of four Asia-Pacific markets, Y.K. Tse, X.L. Zuo; a critical re-examination of the return generating process of the arbitrage pricing theory, George Diacogiannis et al; free trade and the U.S. financial services industries - assessment from the reaction of stock prices of financial firms to the U.S.-Canada free trade agreement, Shahid S. Hamid et al; the public concern - "it's the fundamentals stupid" - the Orange Country bankruptcy in perspective, Sarkis Joseph Khoury; abstract of the paper "Credit market reputation and the optimality of financing through subsidiaries", Thomas J. Chemmanur.
£83.99
Business Expert Press Project Management for Banks
Book SynopsisThis book provides a comprehensive perspective on the U.S. banking project management processes, the regulatory agencies that govern and influence those processes, how technology, and more specifically, the development and use of artificial intelligence, will create a shift in the evolutionary trajectory of U.S. banking practices, and how U.S. banking project management practices will be at the core of how quickly and how successfully this evolution unfolds.Project management processes have been intertwined within every fabric of human evolution including advances in communication, farming, construction, medicine, law, architecture, physics, and economics to name a few. At each evolutionary stage, there was a project manager who was studying the how and why of everything, trying new techniques, and documenting trials, errors and successes until a specific craft was mastered, thrusting progress forward in an upward trajectory that has been carved into human history.There are countless books and articles that focus on the practice of project management. What makes this book different is the focus placed largely on the project management processes for United States (U.S) bankers. This book starts with a look at the historical progression of project management processes but quickly focuses the material on project management processes for bankers, heavily leaning towards project managers in United States (U.S.) banks. The author also looks at the bank regulatory agencies that govern U.S. banks, regulations critical to the U.S banking system, and concludes with an overview of U.S. banking technologies and the management of a U.S. banking customer call center.This book provides a comprehensive perspective on the U.S. banking project management processes, the regulatory agencies that govern and influence those processes, how technology, and more specifically, the development and use of artificial intelligence, will create a shift in the evolutionary trajectory of U.S. banking practices, and how U.S. banking project management practices will be at the core of how quickly and how successfully this evolution unfolds.
£21.80
