Banking Books
Springer Nature Switzerland AG Fintech, Small Business & the American Dream: How
Book SynopsisSmall businesses are the backbone of the U.S. economy. They are the biggest job creators and offer a path to the American Dream. But for many, it is difficult to get the capital they need to operate and succeed. In the Great Recession, access to capital for small businesses froze, and in the aftermath, many community banks shuttered their doors and other lenders that had weathered the storm turned to more profitable avenues. For years after the financial crisis, the outlook for many small businesses was bleak. But then a new dawn of financial technology, or “fintech,” emerged. Beginning in 2010, new fintech entrepreneurs recognized the gaps in the small business lending market and revolutionized the customer experience for small business owners. Instead of Xeroxing a pile of paperwork and waiting weeks for an answer, small businesses filled out applications online and heard back within hours, sometimes even minutes. Banks scrambled to catch up. Technology companies like Amazon, PayPal, and Square entered the market, and new possibilities for even more transformative products and services began to appear.In Fintech, Small Business & the American Dream, former U.S. Small Business Administrator and Senior Fellow at Harvard Business School, Karen G. Mills, focuses on the needs of small businesses for capital and how technology will transform the small business lending market. This is a market that has been plagued by frictions: it is hard for a lender to figure out which small businesses are creditworthy, and borrowers often don’t know how much money or what kind of loan they need. New streams of data have the power to illuminate the opaque nature of a small business’s finances, making it easier for them to weather bumpy cash flows and providing more transparency to potential lenders.Mills charts how fintech has changed and will continue to change small business lending, and how financial innovation and wise regulation can restore a path to the American Dream. An ambitious book grappling with the broad significance of small business to the economy, the historical role of credit markets, the dynamics of innovation cycles, and the policy implications for regulation, Fintech, Small Business & the American Dream is relevant to bankers, fintech investors, and regulators; in fact, to anyone who is interested in the future of small business in America. Trade Review“Karen Mill’s outstanding new book: FinTech, Small Business & the American Dream, a smart, savvy, and useful landscape of lending, fintech, and small business. Mills knows how the engine of small business powers the U.S. and her recommendations about how to sustain it through technology are thoughtful and direct. Her observations about how small banks can anchor communities are especially astute and important.” (Lawrence Gennari, Boston Business Journal, August 30, 2019)Table of Contents
£26.59
Springer Nature Switzerland AG From Good to Bad Bankers: Lessons Learned from a 50-Year Career in Banking
Book SynopsisBankers are administrators of other people’s money, and they are responsible both to their depositors and to other stakeholders. Human nature being what it is, however, they sometimes fall prey to overweening ambition, coming to see themselves as the rightful beneficiaries of the moneys entrusted to them. This can lead them to make poor lending decisions and engage in risky practices, eventually moving on to cosmetic accounting and the concealment of problems, speculation and even outright fraud.Supervisors are there to prevent such behaviour, of course. They are responsible to government and the general public alike for the stability of the financial system, the proper allocation of financial resources by the banks and the protection of depositors and creditors. Their responsibility is, then, subsidiary to that of the bankers themselves.Where supervision is lax and ineffective, however, it encourages bad management by bankers, creating a vicious circle that eventually leads to financial crises, which has most often to be cured using tax-payers’ money. Of course, it also hurts the broader economy. That is why the inseparable trio of regulation, supervision and resolution must exist.In this collection of his writings over a period of some 50 years, Aristóbulo de Juan describes the causes, characteristics and consequences of financial crises based on his own experience as a central banker, world bank expert and consultant spanning a career of more than 55 years.In a nutshell, the papers brought together in this book recount circumstances that have always plagued banking, and that are only too likely to recur in the future.Table of ContentsFOREWORD by Fernando González UrbanejaPROLOGUE by the AuthorCHAPTER 1 FROM GOOD BANKERS TO BAD BANKERSCHAPTER 2 THE SPANISH BANKING CRISIS OF THE 1970s AND 1980sCHAPTER 3 THE MICROECONOMIC ROOTS OF THE BANKING CRISISCHAPTER 4 BANK REFORM IN EASTERN EUROPECHAPTER 5 ‘FALSE FRIENDS’ AND BANKING REFORMCHAPTER 6 THE DYNAMICS OF UNDISCLOSED INSOLVENCYCHAPTER 7 OBSTACLES IN THE WAY OF CRISIS RESOLUTION EXCERPTS FROM THE PAPER DESPEJAR EL TERRENO (CLEARING THE DECKS)CHAPTER 8 THE FINANCIAL SYSTEMS AND THE ETHICS OF RESTRUCTURINGCHAPTER 9 LIQUIDITY AND EUPHORIACHAPTER 10 THE RECOMMENDED OPTIONCHAPTER 11 THE PROBLEMS OF THE EUROPEAN BANKING UNIONCHAPTER 12 STABILITY AND ITS RISKSCHAPTER 13 PRACTICAL LESSONS FOR DEALING WITH PROBLEM BANKSCHAPTER 14 NON PERFORMING LOANS - NPLs
£26.59
Springer Nature Switzerland AG The Practice of Lending: A Guide to Credit Analysis and Credit Risk
Book SynopsisThis book provides a comprehensive treatment of credit risk assessment and credit risk rating that meets the Advanced Internal Risk-Based (AIRB) approach of Basel II. Credit risk analysis looks at many risks and this book covers all the critical areas that credit professionals need to know, including country analysis, industry analysis, financial analysis, business analysis, and management analysis. Organized under two methodological approaches to credit analysis—a criteria-based approach, which is a hybrid of expert judgement and purely mathematical methodologies, and a mathematical approach using regression analysis to model default probability—the book covers a cross-section of industries including passenger airline, commercial real estate, and commercial banking. In three parts, the sections focus on hybrid models, statistical models, and credit management. While the book provides theory and principles, its emphasis is on practical applications, and will appeal to credit practitioners in the banking and investment community alongside college and university students who are preparing for a career in lending.Table of Contents
£37.99
Springer Nature Switzerland AG Asset Management at Central Banks and Monetary
Book SynopsisIn response to the Global Financial Crisis and the COVID-19 pandemic, central banks have used all available instruments in their monetary policy tool-kit to avoid financial market disruptions and a collapse in real economic activities. These actions have expanded the size of their balance sheets and altered the composition of the asset-side. This edited book highlights how these assets are managed, providing an intellectual and practical contribution to an under-researched field of central bank responsibilities. It first reviews the sources and uses of domestic and international assets and how they complement—or possibly conflict with—the implementation of monetary policy goals. Next, the book examines the asset management mandate in a balance sheet context before turning to the investment decision-making process from strategic and tactical asset allocation to investment strategies, risk management, governance, reporting and control. Finally, it presents new developments in the field of managing assets at central banks. The individual chapters are written by central bankers, academics, and representatives from International Financial Institutions, each representing a particular aspect of the asset management practice.Practical and powerful insights from a hall of fame of investors, central bankers and scholars, are packed into this one volume. If you could have only one book on central bank asset management, this would be it. —Peter R. Fisher, Clinical Professor, Tuck School of Business at DartmouthJacob Bjorheim draws on his long experience in sovereign asset management to pull together a rich collection of insights from a broad range of expertise. Asset management at central banks has evolved and expanded considerably over the past decade. This book is a timely source of information and guidance. —Guy Debelle, Deputy Governor, Reserve Bank of AustraliaCentral bank balance sheets have grown at a tremendous pace over the last decade and a half. Drawing on contributions from scholars and experienced central bankers from around the world, this timely and insightful book sheds light on how central banks are, and should be, managing their growing balance sheets. —Kjell G. Nyborg, Chaired Professor of Finance, University of Zurich, Author of Collateral Frameworks: The Open Secret of Central BanksCentral banks and monetary authorities are charged with, and being held accountable for, managing portfolios of foreign currency assets of unprecedented size. The essays in this admirable book, written by some of the worlds most highly experienced officials, cover the full range of why and how this is currently being done and how new developments are affecting old practices. Interesting conceptually and immensely useful practically. —William White, Senior Fellow at the C.D. Howe Institute, former Head of the Monetary and Economic Department with the Bank for International Settlements (BIS) and chairman of the Economic and Development Review Committee at the OECDAn excellent and timely review of modern international reserve management, which ought to be read by everyone working with, or simply interested in, international asset management and finance as well as monetary and economic policy. The spectrum of authors is broad and their combined insight is very valuable. —Tom A. Fearnley, Investment Director, Norwegian Ministry of FinanceWith “Asset Management at Central Banks and Monetary Authorities”, Jacob Bjorheim has achieved an editorial tour de force. The book assembles the insightful views of the leading experts in the field, both from an academic and practitioners’ perspective. It bridges the gap between the macroeconomics of central banks and the financial management of their reserves. A must read to understand how central banks are special in the group of institutional investors. —Eric Bouyé, Head of Asset Allocation and Quantitative Strategies, Treasury Department, The World BankThe balance sheet is a large and important toolbox for any central bank and specifically the foreign exchange reserves constitute one the more powerful of these tools. This book provides excellent insight in the various perspectives of managing reserves at a central bank. —Heidi Elmér, Director of Markets Department, Severiges RiksbankThe world of international reserves has changed since the global financial crisis. In this volume, Jacob Bjorheim has assembled a stellar cast of experts to explain how and what that means for reserves management. With chapter authors like Andrew Ang, Jennifer Johnson-Calari, Robert McCauley, Ravi Menon, Simon Potter and Philip Turner, it is a book that every reserve manager must read. —Eli Remolona, Professor of Finance and Director of Central Banking, Asia School of Business in collaboration with MIT SloanJacob Bjorheim has succeeded in bringing together a first-class team of experts, and organising their contributions in an articulated journey from the central banks’ policy mandate to their asset management practices. An indispensable post-crisis update of the subject and a a required reading for anyone professionally involved with central bank’s asset management, or simply curious about a topic benefitting otherwise from limited research. —Louis de Montpellier, Former Global Head, Official Institutions Group, SSGA, and former Deputy Head, Banking Department, Bank for International Settlements (BIS), BaselAt last, a book that shares with a wider audience, deep insight in a unique, challenging and ethical approach of asset management developed and implemented in the secretive world of central banks. If you wonder how to manage funds that stand ready for use at short notice in times of stress then this book is for you. Two features make it such a valuable read and a must-have reference: First, the very comprehensive list of themes covered from a rich diversity of angles. Second, the very impressive list of prominent institutions and authors that have contributed and shared their analysis and practical approaches of the issues presented. What is better than to get the information directly from first-hand practitioners, experts and managers themselves in their own words? —Jean-Pierre Matt, Former Head of Financial Analysis at the Bank for International Settlements (BIS) and founder of QuanteisThis book holds the promise to become the go-to guide for anyone wishing to learn more about the management of official foreign exchange reserves. Central bankers in particular, but also those providing services to central banks, will find benefit from the broad scope in subject matter and varied perspectives being presented. I am yet to see a compendium on official reserve management with similar reach in subject matter. —Leon Myburgh, Former Head Financial Markets Department, South African Reserve Bank (SARB), PretoriaThis is an immensely timely book at a time when central bank operations, and their balance sheets, remain “larger for longer”. Following the Financial Crisis 10 years ago, and with the Covid-19 Recession about to break, central bank balance sheets are at the forefront of the authorities’ response to economic issues as never before. Yet the management of their now large-scale assets remains a little known and little studied area. The authors of this book combine extensive technical and practical experience, and their observations will fill an important gap in the literature at a critical time. —Freyr Hermannsson, Former Head of Treasury, Central Bank of Iceland, ReykjavíkTrade Review“This excellent book fills a critical gap that has existed since the IMF guidelines were revised. It offers important insights and learning for those interested in the practicalities of asset management, how that is evolving and may continue to change, and the interface between the operation of monetary policy and the financial management of official asset portfolios.” (Graeme Wheeler, Central Banking, centralbanking.com, February 18, 2021)Table of ContentsChapter 1. Asset Management at Central Banks and Monetary Authorities.- Chapter 2. Central Banks: Gatekeepers of Monetary Stability and Guardians of Public Interest.- Chapter 3. Larger Central Bank Balance Sheets: A New Normal for Monetary Policy?- Chapter 4. How Countries Manage Large Central Bank Balance Sheets.- Chapter 5. Reserve Accumulation, Sovereign Debt and Exchange Rate Policy.- Chapter 6. The cost of holding foreign exchange reserves.- Chapter 7. Saudi Arabian Monetary Authority: Why do central banks hold domestic and foreign currency assets?- Chapter 8. Safe assets: Made, not just born.- Chapter 9. Expansion and contraction of central bank balance sheets: Implications for commercial banks.- Chapter 10. Management of Canada’s Foreign Exchange Reserves.- Chapter 11. How the Monetary Authority of Singapore (MAS) manages its assets.- Chapter 12. The South African Reserve Bank’s Strategic Asset Allocation Value Chain.- Chapter 13. European Central Bank: The investment decision-making process and its governance.- Chapter 14. Reserves management at Danmarks National Bank: Combining liquidity tiers with an adaptive risk budget.- Chapter 15. The Swiss National Bank’s investment decision-making process from a safe-haven currency perspective.- Chapter 16. The Strategic Asset Allocation Framework of Banco de México.- Chapter 17. Macro risk management in a commodity-dependent economy: The case of the Central Bank of Chile.- Chapter 18. Dynamic Strategic Asset Allocation at the National Bank of Belgium: Why and how to implement it in a central bank.- Chapter 19. Central Bank of Lithuania: Asset allocation in a risk parity framework.- Chapter 20. Good Governance: Principles, Pitfalls and Best Practice.- Chapter 21. Central Bank of Brazil: Investment decision-making in an integrated risk management framework.- Chapter 22. Governance, Risk Management, Reporting, and Control at the Central Bank of Columbia.- Chapter 23. Foreign exchange reserves at the National Bank of Poland: Adequacy, risk-budgets, tranching and financial implications.- Chapter 24. Central Banks as Bankers to Each Other: Overview, Trends, and Future Directions in Global Official Sector Service Provision.- Chapter 25. Modern central bank reserves management: Introduction and overview.- Chapter 26. Bank of Israel: Integrating equities into the foreign exchange reserves.- Chapter 27. Renminbi securities in portfolios of official institutions: A perspective from the Hong Kong Monetary Authority.- Chapter 28. Responsible Investment and central bank asset management.- Chapter 29. BlackRock: Reserves Management with Factors and Reference Portfolios.
£151.99
Springer Nature Switzerland AG Corporate and Investment Banking: Preparing for a
Book Synopsis This book provides unique information to prepare graduates and newly hired corporate and investment banking professionals for a career in the global markets environment of large universal and international investment banks. It shows the interrelationship between the three specific business functions of sales, trading, and research, as well as the interaction with corporate and institutional clients. The book fills a gap in the available literature by linking financial market theory to the practical aspects of day-to-day operations on a trading floor and offers a taxonomy of the current banking business, providing an in-depth analysis of the main market participants in the global markets ecosystem. Engaging the reader with case studies, anecdotes, and industry color, the book addresses the risks and opportunities of the global markets business in today’s global financial markets both from a theoretical and from a practitioner’s perspective and focuses on the most important fixed-income financial instruments from a pricing, risk-management, and client-marketing perspective.Table of Contents1. Introduction.- 2. A Taxonomy of the Banking Business.- 3. Fundamentals of the Banking Business.- 4. Sales.- 5. Trading.- 6. Research.- 7. Derivatives.- 8. Exercises.
£49.49
Springer Nature Switzerland AG Financial Risk Management for Cryptocurrencies
Book SynopsisThis book explores the emerging field of risk management and risk analysis of cryptocurrencies, an area that has been generating considerable research. It begins by providing an introduction to digital finance and the concept of cryptocurrencies and blockchain technologies. It then describes in detail the intrinsic risks involved in cryptocurrencies, an area that, to date, has not been fully documented or investigated. Lastly, it discusses the various types of risk, with a focus on design, operational, market and quantitative risks.Providing insights into the analysis and management of cryptocurrencies, and serving as a starting point for a more in-depth risk analysis, this book will appeal to professionals and researchers interested in familiarizing themselves with the risks in cryptocurrencies, including academics, portfolio managers, risk-managers, quants, financial professionals, regulators, economists, asset managers and traders.Table of Contents- Part I Introduction to Cryptocurrencies. - Blockchain. - Types of Cryptocurrencies. - Part II Risk in Dealing with Cryptocurrencies. - Qualitative Risks. - Quantitative Risks. - Futures and Options on Cryptocurrencies. - Portfolio Management. - Further Related Work. - Part III Summary and Conclusion. - Conclusion.
£52.24
Springer Nature Switzerland AG Disintermediation Economics: The Impact of
Book Synopsis This book provides a coherent Blockchain framework for the business community, governments, and universities structured around microeconomics, macroeconomics, finance, and political economy and identifies how business organizations, financial markets and governmental policies are changed by digitalization, specifically Blockchain. This framework, what they authors call “disintermediation economics,” affects everything by providing a paradigm that transforms the way we organize markets and value chains, financial services, central banking, budgetary policies, innovation ecosystems, government services, and civil society. Bringing together leading and experienced policy makers, corporate practitioners, and academics from top universities, this book offers a road map of best practices that can be immediately useful to firms, policy makers as well as academics by balancing theory with practice. Table of ContentsCh. 1: What is Disintermediation Economics: An introduction (Psarrakis).- Part A: Disintermediation in Microeconomics.- Ch. 2: Distributed Ledger Economics: Organizations, Incentives and Strategy (Psarrakis).- Ch. 3: Economics of Smart Contracts: Efficiency and legal challenges (Dobrauz-Saldapenna and Schrackmann).- Ch. 4: Corporate Strategies for Blockchain-based Solutions (Verheggen).- Ch. 5: Distributed Data Economics (Shrier).-Part B: Disintermediation in Macroeconomics and Finance.- Ch. 6: Blockchain for Growth: Applying distributed ledger technologies to the UN Sustainable goals (Thomason).- Ch. 7: The New Money: The utility of Cryptocurrencies and the need for a New Monetary Policy (Lee and Teo).- Ch. 8: Privately Issued Digital Currencies (Disparte).- Ch. 9: Crypto-assets, Distributed Ledger Technologies and Disintermediation in Finance: Overcoming impediments to scaling: A view from the EU (Noble).- Ch. 10: Crypto-assets and Disintermediation in Finance: A view from Asia (Johnstone).- Part C: Disintermediation in Political Economy and Regulation.- Ch. 11: The Political Economy of the Blockchain (Zilgalvis).- Ch. 12: Regulating Blockchain in the EU: Building a global competitive advantage (Kaili).- Ch. 13: Advancing Digital Transformation in the Public Sector with Blockchain: A view from the European Union (Baldacci and Frade).- Ch. 14: Disposable Identities? Why digital identity matters to blockchain disintermediation and for society (Anania, Le Gars, and van Kranenburg).
£28.49
Springer Nature Switzerland AG Disintermediation Economics: The Impact of
Book Synopsis This book provides a coherent Blockchain framework for the business community, governments, and universities structured around microeconomics, macroeconomics, finance, and political economy and identifies how business organizations, financial markets and governmental policies are changed by digitalization, specifically Blockchain. This framework, what they authors call “disintermediation economics,” affects everything by providing a paradigm that transforms the way we organize markets and value chains, financial services, central banking, budgetary policies, innovation ecosystems, government services, and civil society. Bringing together leading and experienced policy makers, corporate practitioners, and academics from top universities, this book offers a road map of best practices that can be immediately useful to firms, policy makers as well as academics by balancing theory with practice. Table of ContentsCh. 1: What is Disintermediation Economics: An introduction (Psarrakis).- Part A: Disintermediation in Microeconomics.- Ch. 2: Distributed Ledger Economics: Organizations, Incentives and Strategy (Psarrakis).- Ch. 3: Economics of Smart Contracts: Efficiency and legal challenges (Dobrauz-Saldapenna and Schrackmann).- Ch. 4: Corporate Strategies for Blockchain-based Solutions (Verheggen).- Ch. 5: Distributed Data Economics (Shrier).-Part B: Disintermediation in Macroeconomics and Finance.- Ch. 6: Blockchain for Growth: Applying distributed ledger technologies to the UN Sustainable goals (Thomason).- Ch. 7: The New Money: The utility of Cryptocurrencies and the need for a New Monetary Policy (Lee and Teo).- Ch. 8: Privately Issued Digital Currencies (Disparte).- Ch. 9: Crypto-assets, Distributed Ledger Technologies and Disintermediation in Finance: Overcoming impediments to scaling: A view from the EU (Noble).- Ch. 10: Crypto-assets and Disintermediation in Finance: A view from Asia (Johnstone).- Part C: Disintermediation in Political Economy and Regulation.- Ch. 11: The Political Economy of the Blockchain (Zilgalvis).- Ch. 12: Regulating Blockchain in the EU: Building a global competitive advantage (Kaili).- Ch. 13: Advancing Digital Transformation in the Public Sector with Blockchain: A view from the European Union (Baldacci and Frade).- Ch. 14: Disposable Identities? Why digital identity matters to blockchain disintermediation and for society (Anania, Le Gars, and van Kranenburg).
£25.19
Springer Nature Switzerland AG Introduction to Central Banking
Book SynopsisThis open access book gives a concise introduction to the practical implementation of monetary policy by modern central banks. It describes the conventional instruments used in advanced economies and the unconventional instruments that have been widely adopted since the financial crisis of 2007–2008. Illuminating the role of central banks in ensuring financial stability and as last resort lenders, it also offers an overview of the international monetary framework. A flow-of-funds framework is used throughout to capture this essential dimension in a consistent and unifying manner, providing a unique and accessible resource on central banking and monetary policy, and its integration with financial stability. Addressed to professionals as well as bachelors and masters students of economics, this book is suitable for a course on economic policy. Useful prerequisites include at least a general idea of the economic institutions of an economy, and knowledge of macroeconomics and monetary economics, but readers need not be familiar with any specific macroeconomic models.
£24.99
Springer Nature Switzerland AG The Digital Journey of Banking and Insurance,
Book SynopsisThis book, the second one of three volumes, gives practical examples by a number of use cases showing how to take first steps in the digital journey of banks and insurance companies. The angle shifts over the volumes from a business-driven approach in “Disruption and DNA” to a strong technical focus in “Data Storage, Processing and Analysis”, leaving “Digitalization and Machine Learning Applications” with the business and technical aspects in-between. This second volume mainly emphasizes use cases as well as the methods and technologies applied to drive digital transformation (such as processes, leveraging computational power and machine learning models).Table of ContentsPart I. Use Cases. - Chapter 1. Use Case – Optimization of Regression Tests – Reduction of the Test Portfolio Through Representative Identification. - Chapter 2. Use Case – Nostro Accounts Match. - Chapter 3. Use Case – Fraud Detection Using Machine Learning Techniques. - Chapter 4. Use case – NFR – HR Risk. - Chapter 5. Sentiment Analysis for Reputational Risk Management. - Chapter 6. Use Case – NFR – Using GraphDB for Impact Graphs. - Part I. High-Performance Applications. - Chapter 7. Distributed Calculation Credit Portfolio Models. - Chapter 8. BSDS – Balance Sheet Dynamics Simulator. - Chapter 9. Dynamic Dashboards. - Chapter 10. High-Performance Applications. - Part III. Quantum Computing. - Chapter 11. Post-Quantum Secure Cryptographic Algorithms. - Chapter 12. Quantum Technologies. - Chapter 13. Categorical Quantum Theory. - Part IV. Process & Process Optimization. - Chapter 14. Processes in a Digital Environment. - Chapter 15. Process Mining. - Chapter 16. Hyperautomation (Automated Decision-Making as Part of RPA). - Chapter 17. RPA Use Case – “IFRS 9/SPPI”. - Part V. Open Source. - Chapter 18. Open-Source Software. - Part VI. Summary.
£62.99
Springer Nature Switzerland AG Settling Climate Accounts: Navigating the Road to
Book SynopsisAs drivers of climate action enter the fourth decade of what has become a multi-stage race, Net Zero has emerged as the dominant organizing principle. Hundreds of corporations and investors worldwide, together responsible for assets in the tens of trillions of dollars, are lining-up for the UN Race to Zero. This latest stage in the race to save civilization from heat, drought, fires, and floods, is defined by steering toward zeroing out greenhouse gas emissions by 2050. Settling Climate Accounts probes the practice of Net Zero finance. It elucidates both the state of play and a set of directions that help form judgements about whether Net Zero is going to carry climate action far enough. The book delves into technical analyses and activates the reader’s imagination with narrative accounts of climate action past, present, and future. Settling Climate Accounts is edited and authored by Stanford University faculty and researchers. The first part of the book investigates the rough edges of Net Zero in practice, exploring questions of hedging risk, Scope 3 emissions, greenwashing, and the business of asset management. The second half looks at states, markets, and transitions through the lenses of blended finance, offsets, debt, and securitization. The editors tease out possible solutions and raise further questions about the adequacy and reach of the Net Zero agenda. To effectively navigate the road ahead, the editors call out the need for accountability and ask: who is in charge of making Net Zero add up? Settling Climate Accounts offers context and foundation to ground the rapidly evolving practice of Net Zero finance. Targeted at seasoned practitioners, newly activated leaders, educators, and students of climate action the world over, this book embraces the complexity of climate action and, in so doing, proposes to animate and drive hope.Table of ContentsIntroduction.- Part I: The Dynamics of Net Zero Finance.- 1.A Portfolio Approach to Hedging Climate Risk.- 2.Carbonwashing: ESG Data Greenwashing in a Post-Paris World.- 3.The Road from Scope Three to Net Zero.- 4.Fixing the Plumbing: Asset Management, Clean Energy Technology, and The Valley of Death.- Part II: Beyond Net Zero: States, Markets, and Transition.- 5.Blended Finance for State-led Decarbonization.- 6.A Natural Approach to Net-Zero.- 7.A Note on Transition Bonds and Finance.- 8.Securitization as a Model for an Equitable Transition.- Conclusion.
£52.24
Springer Nature Switzerland AG Settling Climate Accounts: Navigating the Road to
Book SynopsisAs drivers of climate action enter the fourth decade of what has become a multi-stage race, Net Zero has emerged as the dominant organizing principle. Hundreds of corporations and investors worldwide, together responsible for assets in the tens of trillions of dollars, are lining-up for the UN Race to Zero. This latest stage in the race to save civilization from heat, drought, fires, and floods, is defined by steering toward zeroing out greenhouse gas emissions by 2050. Settling Climate Accounts probes the practice of Net Zero finance. It elucidates both the state of play and a set of directions that help form judgements about whether Net Zero is going to carry climate action far enough. The book delves into technical analyses and activates the reader’s imagination with narrative accounts of climate action past, present, and future. Settling Climate Accounts is edited and authored by Stanford University faculty and researchers. The first part of the book investigates the rough edges of Net Zero in practice, exploring questions of hedging risk, Scope 3 emissions, greenwashing, and the business of asset management. The second half looks at states, markets, and transitions through the lenses of blended finance, offsets, debt, and securitization. The editors tease out possible solutions and raise further questions about the adequacy and reach of the Net Zero agenda. To effectively navigate the road ahead, the editors call out the need for accountability and ask: who is in charge of making Net Zero add up? Settling Climate Accounts offers context and foundation to ground the rapidly evolving practice of Net Zero finance. Targeted at seasoned practitioners, newly activated leaders, educators, and students of climate action the world over, this book embraces the complexity of climate action and, in so doing, proposes to animate and drive hope.Table of ContentsIntroduction.- Part I: The Dynamics of Net Zero Finance.- 1.A Portfolio Approach to Hedging Climate Risk.- 2.Carbonwashing: ESG Data Greenwashing in a Post-Paris World.- 3.The Road from Scope Three to Net Zero.- 4.Fixing the Plumbing: Asset Management, Clean Energy Technology, and The Valley of Death.- Part II: Beyond Net Zero: States, Markets, and Transition.- 5.Blended Finance for State-led Decarbonization.- 6.A Natural Approach to Net-Zero.- 7.A Note on Transition Bonds and Finance.- 8.Securitization as a Model for an Equitable Transition.- Conclusion.
£41.24
Springer Nature Switzerland AG Beyond Fintech: Bionic Banking
Book SynopsisEnterprise management theories about the so-called bionic organization currently face a significant funding gap. Bionic theories have been mainly applied to enterprise lifecycle because of the presence of similarities between economic organizations and organisms. The digital transformation has offered advancements in the bionics research field which enable us to discuss bionic organizations for the first time as business realities in which humans and machines, especially robotic process automation systems and artificial intelligence tools, cooperate in executing operations.This book determines how a bionic organization can be defined and what are its fundamental elements in the case of banking. Specifically, it investigates the two pillars of bionic enterprise which are technology and humans, as well as the core objectives and outcomes. In order to provide an exhaustive overview, the book proposes a new conceptualization of the business model of a bionic organization on the basis of the Business Model Canvas framework. Ultimately, the study of bionic organizations is aimed to discover also how they evolved in the post pandemic phase as a result of the disruptive events generated by the spread of the pandemic. The research on the book has been conducted through a qualitative and descriptive methodology with the intent to build further knowledge about the topic starting from the information available in literature. To provide actual evidence of the reality of bionic financial services, the book includes case studies. The organizations observed in the study have been selected since they present some of the key traits identified by the bionic enterprise theory. The book demonstrates that bionic enterprise theory can be further enriched with the conceptualization of a bionic business model in which the paradigm of collaboration between humans and machines is a recurring element.Table of ContentsChapter 1: Bionic Banking Introduction.- Chapter 2: Bionic Banking.- Chapter 3: Bionic Banking Transformation.- Chapter 4: Bionic Banking Business Model.- Chapter 5: Bionic Banking Life Style.- Chapter 6: Bionic Banking Project.- Chapter 7: Bionic Banking Conclusions.
£104.49
Springer Nature Switzerland AG Corporate Governance in the Banking Sector:
Book SynopsisThis book gives an overview of the most important theories on Corporate Governance, investigating the myth and the reality of it. It argues that within the banking sector exist two new agency costs (i.e., bank depositors and shareholders vs. directors and bank depositors vs. shareholders and directors). These agency problems are difficult to reduce for two reasons. First, banks are complex and opaque. Second, government implicit guarantees and the deposit insurance systems reduce the monitoring of depositors. This book also takes a deep dive into research on CG in the banking sector via a unique and innovative literature review covering the time period between 2000-2020. It finds that some specific CG characteristics affect banks: risk appetite, performance, accounting quality, compensation and corporate social responsibility disclosure. Furthermore, this publication contends that institutional investors are changing CG for the better, describing how major financial markets factors such as rating agencies and sell-side financial analysts make CG visible. Additionally, it investigates how managerial biases and irrational investors can affect CG negatively, leading to company distress. All-in-all, this book makes a threefold contribution: for regulators, it offers suggestions on how to improve banks’ supervision; for researchers, it suggests new research topics; and for practitioners, it connects CG theory with real cases of CG failure.Table of ContentsChapter 1. The Meaning of Corporate Governance and Its Role in the Banking Sector.- Chapter 2. Corporate Governance Theories and the Banking Sector.- Chapter 3. Corporate Governance in the Banking Sector: A Literature Review.- Chapter 4. CG Stock Markets and the Environmental, Social and Corporate Governance (ESG) Indicators.- Chapter 5. Corporate Governance and Behavior Finance.- Chapter 6. Why Corporate Governance Matters - Spectacular Defaults.
£104.49
Springer International Publishing AG The European Banking Regulation Handbook, Volume
Book SynopsisIn two volumes, this book covers in a comprehensive, internally balanced, systematic and detailed way the field of European Union (EU) banking law and regulation. In three parts, Volume I offers a brief introduction to the role of banks in the contemporary financial system and the theory of banking regulation, a thorough analysis of international financial standards which are contained in the sources of public international banking law (and of public international financial law, in general), a detailed presentation of the gradual evolution and the sources of EU banking law, as well as a precise analysis of the law-making process and the key institutional aspects of this branch of EU economic law. The standards and rules adopted and the institutions created in the aftermath of the (2007-2009) global financial crisis and the subsequent euro area fiscal crisis, as well as during the current pandemic crisis are discussed, as appropriate. A detailed analysis of the substantive aspects of EU banking law will follow in Volume IITable of ContentsPart ITheory Of Banking Regulation And International Financial Standards Chapter 1 The Case For Banking Regulation Chapter 2 Key Aspects Of Public International Financial Law – International Financial Standards Chapter 3 Key Institutional Aspects Of The International Financial Architecture And An Interim Assessment Part II Part II: European Banking Regulation (Law): Definition, Evolution And Sources Chapter 4 Definition And Evolution Up To The Creation Of The Banking Union Chapter 5 Developments After The Establishment Of The Banking Union Chapter 6 The Legislative Acts Which Constitute The Sources Of Eu Banking Law Part III European Banking Regulation (Law): Key Institutional Elements Chapter 7 The European Banking Authority (Eba) And Its (Significant) Role In The Law-Making Process Chapter 8 The Single Supervisory Mechanism (Ssm) Chapter 9 The Single Resolution Mechanism (Srm)
£113.99
Springer International Publishing AG Commercial Banking in Transition: A Cross-Country
Book SynopsisThe book investigates commercial banking, covering the European framework, the Anglo-Saxon systems, and the Asian area in a comparative approach in trying to answer the following questions: Which is the commercial banking business model of the future? What do we expect a bank to be and to do in the new economic and social reality? How might banking supervision over commercial banks as well as market competition change? The book showcases how three factors or driving forces influence the future of commercial banking: i) fintech innovations (such as artificial intelligence, cryptocurrencies, blockchain, algorithmic trading, machine learning and electronic payments, to name a few), ii) covid-19 measures, and iii) SDG policy priorities. Geared toward academics, scholars and students of banking and financial services, the book will explore how these three factors have different weight in the different legal contexts.Chapter 11 is licensed under the terms of the Creative Commons Attribution 4.0 International License.Table of ContentsForeward, by Vittorio Santoro.- Chapter 1 Introduction, by the Editors.- Part I “The EUROPEAN UNION”.- Chapter 2Intermediaries’ model in banking and finance and the treatment of fintech in the European Union: a critical approach, by Patrick Barban.- Chapter 3 FinTech and competition regulatory concerns in the EU banking business framework, by Gabriella Gimigliano.- Chapter 4 Prudential regulation policy responses to financial technological innovations: the future for banks and crypto-finance?, by Iris H-Y Chiu.- Chapter 5 Digitalizing the commercial bank business model: vanishing brank branches and the risk of financial exclusion of the elderly, by Anne-Christine Mittwoch, Anne-Marie Weber, Weronika Herbert-Homenda, and Weronika Stefaniuk.- Chapter 6 The “game changer” in the euro area: Banking Union and commercial banking, by Lucia Quaglia.- Chapter 7 The financing of problem banks: critical issues and challenges ahead, by Marco Bodellini.- Chapter 8 The review of the EU bank crisis management and deposit insurance framework, by Johannes Langthaler.- Chapter 9 Sustainable commercial banking in European Union Law: a renewed mandate for commercial banks?, by Pablo Iglesias Rodriguez.- Chapter 10 Commercial banks and competition concerns – SDG policy priorities, by Lela Mélon and Alenka Recelj Mercina.- Part II “The Anglo-Saxon SYSTEMS”.- Chapter 11 Central Bank Digital Currency and the Agenda of monetary devolution, by Leonidas Zelmanovitz and Bruno Meyerhol Salama.- Chapter 12 Open banking in the UK: a co-opetition scenario for innovation and evolution in the UK retail banking sector, by Nikita Divissenko.- Chapter 13 Rethinking crypto-regulation for crypto-investors in the UK, by Joy Malala and Folashade Adeyemo.- Chapter 14 Cross-border recognition of foreign resolution actions: the statutory regime in the United Kingdom, by Shalina Daved, Clare Merrified & Michael Salib.- Chapter 15 The impact of climate change on the economy and financial system: legal aspects of the Bank of England’s response, by Jack Parker and Ann Corrigan.- Part III “CHINA AND SOUTH KOREA”.- Chapter 16 Chinese commercial banks and fintech-competition and collaboration, by Ding Chen.- Chapter 17 Fintech and banking reform: a perspective from China, by Wang Feimin, Xu Duoqi, and Cheng Xuejn.- Chapter 18 Prudential regulation of the banking-like business of fintech companies in China, by Yangguang Xu and Zhirou Li.- Chapter 19 Recent changes and prospects of banking services regulations and supervision in Korea, by Sung-Seung Yun and GiJin Yan.- Part IV “Looking ahead”.- Chapter 20 Final remarks, by Antonella Brozzetti.
£116.99
De Gruyter Principles of Green Banking: Managing
Book SynopsisEnvironmental sustainability is perhaps the key societal challenge of our times. Achieving it will require a significant level of financing and investment, and here the role of the banking industry is fundamental. Banks can play a broader and far-reaching role by adopting environmental concerns in their internal and external business operations. Principles of Green Banking is a comprehensive account of the different aspects of green banking and offers theories and principles as well as practical how-to guidelines to adopt green banking practices. This book discusses why green banking is central to achieving sustainable development. It illustrates the evolution of green banking around the world, different types of environmental risks created by firms and how these risks offer threats to sustain ability, and ongoing trends and patterns of green banking practice. Critically, it also presents an outline of the regulatory framework necessary to help the entire banking sector adapt to the change towards green banking. It is a valuable resource for financial sector professionals and scholars in the fields of sustainable finance and banking.Table of Contents 1. Introduction 2. ENVIRONMENTAL RISK, SUSTAINABILITY AND BANKING 3. TRENDS IN ENVIRONMENT FRIENDLY BANKING 4. GREEN BANKING: DEFINITION AND APPROACHES 5. THE NEED AND IMPACT OF GREEN BANKING 6. THE PRINCIPLES OF GREEN BANKING 7. GREEN BANKING INTERVENTION AND ADOPTION PROCESS 8. GREEN BANKING AND RISK MANAGEMENT 9. THE GREEN BANKING REGULATORY AND POLICY FRAMEWORK 10. FUTURE CHALLENGES AND WAY FORWARD
£44.25
De Gruyter Blockchain and Artificial Intelligence: The World
Book SynopsisBlockchain and artificial intelligence are perhaps the two most significant disruptive technologies this century and both will significantly rewire the world of global financial markets and the world in which we live. While blockchain offers a number of significant advantages over traditional forms of finance including lower cost and massive increases in operational efficiencies of traded markets, property records and a whole host of transaction processes, artificial intelligence is moving fast from basic structured machine learning doing menial yet important big data tasks like credit card fraud detection to predictive analysis and real-time real-world risk management and investment decision making. There is still a lot of confusion in the market about cryptocurrencies, bitcoin and the underlying blockchain technology. Blockchain and Artificial Intelligence highlights the underlying technologies of blockchain and the differences between cryptocurrencies and blockchain financial applications. It explores the current AI offerings and gives a vision of the fast-moving developments in this area including the many solutions that are expected to revolutionize the way financial and commodity markets will operate in the future.
£60.75
De Gruyter Fragmenting Markets: Post-Crisis Bank Regulations
Book SynopsisPost-crisis capital regulations and new failure-resolution rules increased the funding costs that are borne by bank shareholders, and thus the cost to buy-side firms for access to space on the balance sheets of large banks. A policy implication is the encouragement of market infrastructure and trading methods that reduce the amount of space on bank balance sheets that is needed to conduct a given amount of trade. Using models and evidence, this book addresses the implications for financial-market liquidity of these regulations for systemically important banks and argues that current rules do not allow for potential levels of market efficiency and financial stability. In this insightful analysis of the impact of regulation on financial market efficiency post-2008, the author argues that bank capital levels could actually be pushed higher while still improving the liquidity of markets for safe assets such as low-risk fixed-income instruments by relaxing the leverage-ratio rule and increasing risk-based capital requirements.
£35.25
De Gruyter Blockchain, Fintech, and Islamic Finance:
Book SynopsisFollowing the success of the first edition that brought attention to the digital revolution in Islamic financial services, comes this revised and updated second edition of Blockchain, Fintech and Islamic Finance. The authors reiterate the potential of digital disruption to shrink the role and relevance of today’s banks, while simultaneously creating better, faster, cheaper services that will be an essential part of everyday life. Digital transformation will also offer the ability to create new ways to better comply to Islamic values in order to rebuild trust and confidence in the current financial system. In this new edition, they explore current concepts of decentralized finance (DeFi), distributed intelligence, stablecoins, and the integration of AI, blockchain, data analytics and IoT devices for a holistic solution to ensure technology adoption in a prudent and sustainable manner. The book discusses crucial innovation, structural and institutional developments for financial technologies including two fast-growing trends that merge and complement each other: tokenization, where all illiquid assets in the world, from private equity to real estate and luxury goods, become liquid and can be traded more efficiently, and second, the rise of a new tokenized economy where inevitably new rules and ways to enforce them will develop to fully unleash their capabilities. These complementary and oft-correlated trends will complete the decentralization of finance and will influence the way future financial services will be implemented. This book provides insights into the shift in processes, as well as the challenges that need to be overcome for practical applications for AI and blockchain and how to approach such innovations. It also covers new technological risks that are the consequence of utilizing frontier technologies such as AI, blockchain and IoT. Industry leaders, Islamic finance professionals, along with students and academics in the fields of Islamic finance and economics will benefit immensely from this book.
£25.20
De Gruyter Climate Change Risk Management in Banks: The Next
Book SynopsisBanks, like other businesses, endeavor to drive revenue and growth, while deftly managing the risks. Dubbed the next "frontier" in risk management for financial services, climate related risks are the newest and potentially the most challenging set of risks that banks are encountering. On the one hand, banks must show their commitment to becoming net zero and, on the other, help their customers transition to more sustainable operations, all this while managing climate-related financial risks. It is a paradigm shift from how the banking industry has traditionally managed risks as climate change risks are complex. They are multilayered, multidimensional with uncertain climate pathways that impact real economy which in turn influences the financial ecosystem in myriad ways. Climate Change Risk Management in Banks weaves the complete lifecycle of climate risk management from strategy to disclosures, a must-read for academics, banking professionals and other stakeholders interested in understanding and managing climate change risk. It provides much-needed insights, enabling organizations to respond well to these new risks, protect their businesses, mitigate losses and enhance brand value. Saloni Ramakrishna, an acknowledged financial industry practitioner, argues that given the uncertain and volatile climate paths, complex geopolitical patterns, and sustainability challenges, banks and business professionals will benefit from a wholistic approach to managing climate change risks. The book provides a blueprint and a cohesive framework for embracing and maintaining such an approach, in a simple and structured format.
£50.62
De Gruyter Inflation-Linked Bonds and Derivatives:
Book SynopsisDisruptions in supply chains and consumption patterns triggered by the pandemic together with stimulus packages and the energy crisis have catapulted inflation rates to levels last seen in the 1970s. For inflation markets, it’s hard to understate this sudden and enormous change in fortunes. Understanding the future evolution of consumer prices has become crucial for investors across all asset classes as central banks tailor their policy responses with a view to anchoring inflation expectations. Inflation-Linked Bonds and Derivatives condenses more than 15 years of dedicated coverage of inflation markets. It provides investors, issuers and policy makers with all the relevant tools to navigate inflation markets, starting with the nuts and bolts of consumer price indices, forwards, carry and trading strategies, to advanced topics like seasonality adjustments and the use of inflation options. With its many illustrative graphs and tabulated data, this exceptional book will benefit traders, corporate treasury departments, fixed income investors, insurance companies and pension funds executives.
£48.75
De Gruyter Banking in the Age of the Platform Economy:
Book SynopsisThe 2008 global financial crisis and the concurrent rise of the platform economy have had profound effects on the banking sector. Over the past decade and a half, banking leaders have had to contend with rapidly evolving regulatory, technological, and competitive forces. The pace of technological change has been formidable with advances in artificial intelligence, cloud computing, and blockchain technology. These forces have brought to the forefront new managerial imperatives that banking leaders have to make sense of as they strategise in light of these unfolding new realities. Banking in the Age of the Platform Economy explores the strategies that managers and leaders at banks and other financial institutions have adopted in response to the rise of the platform economy, the new forces of interdependence that it entails, and the risks/opportunities involved in cocreating value with external stakeholders. With its discussion of the strategies of interdependence and value cocreation that the top twenty banks in Europe adopted between 2008 and 2019, this book is essential reading for academics, banking and fintech professionals, and management consultants that advise banks and fintechs.
£60.75
De Gruyter Principles of Green Banking: Managing
Book SynopsisEnvironmental sustainability is perhaps the key societal challenge of our times. Achieving it will require a significant level of financing and investment, and here the role of the banking industry is fundamental. Banks can play a broader and far-reaching role by adopting environmental concerns in their internal and external business operations. Principles of Green Banking is a comprehensive account of the different aspects of green banking and offers theories and principles as well as practical how-to guidelines to adopt green banking practices. This book discusses why green banking is central to achieving sustainable development. It illustrates the evolution of green banking around the world, different types of environmental risks created by firms and how these risks offer threats to sustain ability, and ongoing trends and patterns of green banking practice. Critically, it also presents an outline of the regulatory framework necessary to help the entire banking sector adapt to the change towards green banking. It is a valuable resource for financial sector professionals and scholars in the fields of sustainable finance and banking.Table of Contents 1. Introduction 2. ENVIRONMENTAL RISK, SUSTAINABILITY AND BANKING 3. TRENDS IN ENVIRONMENT FRIENDLY BANKING 4. GREEN BANKING: DEFINITION AND APPROACHES 5. THE NEED AND IMPACT OF GREEN BANKING 6. THE PRINCIPLES OF GREEN BANKING 7. GREEN BANKING INTERVENTION AND ADOPTION PROCESS 8. GREEN BANKING AND RISK MANAGEMENT 9. THE GREEN BANKING REGULATORY AND POLICY FRAMEWORK 10. FUTURE CHALLENGES AND WAY FORWARD
£12.15
De Gruyter Central Bank Digital Currencies and the Global
Book SynopsisCentral Bank Digital Currencies and Global Financial System: Theory and Practice is the perfect book for anyone interested in the impact of digital currencies on the global financial system, providing valuable insights and analysis on the topic. The topic of central bank digital currencies (CBDCs) is particularly relevant in 2023 because the use of digital currencies is rapidly growing around the world, and many central banks are exploring the idea of developing their own CBDCs. This book offers readers an opportunity to gain a better understanding of CBDCs, including their history, differences with cryptocurrencies, and the potential impact of CBDCs on the future of the financial system. The book’s didactic approach breaks down complex topics into easily digestible chapters, allowing readers to easily understand and follow the progression of digital currencies. For those interested in the future of digital currencies, the book offers a chapter on future research directions and concluding remarks. Central Bank Digital Currencies and Global Financial System: Theory and Practice is a must-read for anyone interested in the intersection of finance and technology. By exploring the evolution of digital currencies and their impact on the global financial system, this book provides valuable insights for policymakers, financial professionals, and anyone looking to understand the future of money.
£28.88
De Gruyter How to Build a Bank: A Guide to Key Bank
Book SynopsisAs has been proven time and again, banks are the single most important business institution in any economy. If they fail, the whole economy fails. How to Build a Bank sets out, in a manner that is completely unprecedented, all the requirements for the core documentation essential for the operation of a bank. The book takes the reader through the core requirements to operate a bank, and then provides actual examples of the relevant regulatory documentation required for the bank‘s operation, the rationale for the documentation and the details and information required to complete the documentation. Each chapter of the book includes a template of the key regulatory documents required to operate a bank. The book thus simplifies a very complex area of regulatory and banking laws and rules to enable a better understanding of the banking sector and a better understanding of the key requirements for a successful long-term banking business. It is essential reading for bank executives, financial service executives, regulators, lawyers, accountants and professionals involved in bank and financial service authorisation and bank and financial service operations. It will also be very helpful for anyone wishing to understand how the most important business institutions in an economy work and the lessons that can be learned from understanding the detailed regulatory requirements to ensure their success and long-term viability.
£61.20
De Gruyter Blockchain and Artificial Intelligence: The World
Book SynopsisBlockchain and artificial intelligence are perhaps the two most significant disruptive technologies this century and both will significantly rewire the world of global financial markets and the world in which we live. While blockchain offers a number of significant advantages over traditional forms of finance including lower cost and massive increases in operational efficiencies of traded markets, property records and a whole host of transaction processes, artificial intelligence is moving fast from basic structured machine learning doing menial yet important big data tasks like credit card fraud detection to predictive analysis and real-time real-world risk management and investment decision making. There is still a lot of confusion in the market about cryptocurrencies, bitcoin and the underlying blockchain technology. Blockchain and Artificial Intelligence highlights the underlying technologies of blockchain and the differences between cryptocurrencies and blockchain financial applications. It explores the current AI offerings and gives a vision of the fast-moving developments in this area including the many solutions that are expected to revolutionize the way financial and commodity markets will operate in the future.
£15.72
de Gruyter Financial Engineering
Book Synopsis
£67.96
Springer International Publishing AG Credit-Risk Modelling: Theoretical Foundations,
Book SynopsisThe risk of counterparty default in banking, insurance, institutional, and pension-fund portfolios is an area of ongoing and increasing importance for finance practitioners. It is, unfortunately, a topic with a high degree of technical complexity. Addressing this challenge, this book provides a comprehensive and attainable mathematical and statistical discussion of a broad range of existing default-risk models. Model description and derivation, however, is only part of the story. Through use of exhaustive practical examples and extensive code illustrations in the Python programming language, this work also explicitly shows the reader how these models are implemented. Bringing these complex approaches to life by combining the technical details with actual real-life Python code reduces the burden of model complexity and enhances accessibility to this decidedly specialized field of study. The entire work is also liberally supplemented with model-diagnostic, calibration, and parameter-estimation techniques to assist the quantitative analyst in day-to-day implementation as well as in mitigating model risk. Written by an active and experienced practitioner, it is an invaluable learning resource and reference text for financial-risk practitioners and an excellent source for advanced undergraduate and graduate students seeking to acquire knowledge of the key elements of this discipline.Trade Review“The book is easy to read, the models and techniques are illustrated in detail and with complete derivations, making the volume accessible for self-study.” (Claudio Fontana, zbMATH 1422.91012, 2019)Table of ContentsGetting Started.- Part I Modelling Frameworks.- A Natural First Step.-Mixture or Actuarial Models.- Threshold Models.-The Genesis of Credit-Risk Modelling.- Part II Diagnostic Tools.- A Regulatory Perspective.- Risk Attribution.- Monte Carlo Methods.- Part III Parameter Estimation.- Default Probabilities.- Default and Asset Correlation.
£67.49
Duncker & Humblot Green Finance: Case Studies: Vierteljahrshefte
Book Synopsis
£117.80
Vandenhoeck & Ruprecht Finanziers in Sehnsuchtsraumen: Europaische
Book Synopsis
£101.40
Wiley-VCH Verlag GmbH Basel IV: The Next Generation of Risk Weighted
Book SynopsisIn December 2017 the Basel committee finalised its work on the reform of the Basel III framework. Together with requirements already published in 2015 and 2016, the Basel committee changes all approaches for the calculation of RWA and the corresponding Pillar III disclosure rules. This package of new standards from the Basel Committee, which is unofficially called "Basel IV", is now the most comprehensive package of modifications in the history of banking supervision. The banking industry will face major challenges in implementing these new rules. The second edition of the "Basel IV" handbook is updated with all publications up to March 2018 and also extensively enhanced with additional details, examples and case studies. The aim is to convince the reader that we are facing a new framework called "Basel IV" and not just a fine adjustment of the existing Basel III regulations. This book covers all new approaches for the calculation of RWA: - the standardised approach (CR-SA) and the IRB approach for credit risk, - the new standardised approach for counterparty credit risk (SA-CCR), - both the standardised approach and internal models approach from the "fundamental review of the trading book" (SBA and IMA) - the basic approach (BA-CVA) and standardised approach (SA-CVA) for the CVA risk, - all new approaches (SEC-IRBA, SEC-ERBA, SEC-SA, IAA) for securitisations (incl. STS), - the approaches for the calculation of RWA for equity positions in investment funds (LTA, MBA, FBA) - the new standardised approach for operational risk (SA-OpRisk) Because of the strong relation to the Pillar I requirements, the second edition covers the topics of interest rate risk in the banking book (IRRBB), large exposures and TLAC again. Additionally, the book contains a detailed description of the Pillar III disclosure requirements. With the aid of a high-profile team of experts from countries all over the globe, the complexity of the topic is reduced, and important support is offered.Table of ContentsForeword 13 Preface 15 1. Chapter: Revision of the Standardised Approach for Credit Risk 17 1.1 Introduction 17 1.2 General aspects 19 1.2.1 Exposures to sovereigns 21 1.2.2 Exposures to public sector entities 22 1.2.3 Exposures to multilateral development banks 22 1.2.4 Exposures to banks 23 1.2.5 Exposures to corporates 28 1.2.6 Specialised lending 30 1.2.7 Subordinated debt instruments, equity and other capital instruments 32 1.2.8 Retail exposures 33 1.2.9 Exposures secured by real estate/Real estate exposure class 34 1.2.10 Additional risk weights for positions with currency mismatch 51 1.2.11 Off-balance sheet items 52 1.2.12 Defaulted exposures 53 1.2.13 Other assets 54 1.3 Use of external ratings 54 1.3.1 Recognition process for external ratings by national supervisors 54 1.3.2 Mapping of external ratings and use of multiple ratings 56 1.4 Credit risk mitigation techniques 58 1.5 Conclusions 62 Recommended Literature 64 2. Chapter: The Future of the IRB Approach 65 2.1 Introduction of the fundamentals of the IRB Approach (Basel II) 67 2.1.1 A non-quantitative introduction to the IRB risk weight formula 67 2.1.2 The adoption of the IRB Approach 73 2.1.3 Calculation of RWA and EL 74 2.1.4 Minimum conditions for entry and ongoing use 81 2.1.5 Approval and post-approval process: Home/host coordination 88 2.1.6 Decision for application 89 2.2 Basel Committee’s initiatives to improve the IRB Approach 90 2.2.1 Introduction 90 2.2.2 Scope of application of internal models 90 2.2.3 Partial use of the IRB Approach 94 2.2.4 Risk parameter floors as an instrument of RWA variability reduction 97 2.2.5 Parameter estimation practices 99 2.2.6 Expected impact on banks 102 2.2.7 Conclusion 106 2.3 EBA regulatory reform and the revised supervisory assessment methodology 107 2.4 Definition of Default 109 2.4.1 Past-due criterion in the definition of default 111 2.4.2 Indications of unlikeliness to pay 113 2.4.3 Application of the definition of default in external data 117 2.4.4 Consistency of the application of default definition 118 2.4.5 Application of default definition for retail exposures 118 2.4.6 Criteria for the return to the non-defaulted status 119 2.4.7 Materiality thresholds 120 2.4.8 Implementation of changes 121 2.4.9 Impact of new default definition on RWA 122 2.5 Risk estimates 122 Recommended Literature 138 3. Chapter: The New Standardised Approach for measuring Counterparty Credit Risk (SA-CCR) 139 3.1 Counterparty credit risk 139 3.1.1 Definition of counterparty credit risk 139 3.1.2 Measuring counterparty credit risk in the EU 139 3.1.3 Background and motives for introducing the SA-CCR approach 141 3.2 Side note: Calculating EAD with the current exposure method 141 3.3 Measurement of counterparty credit risk according to SA-CCR 145 3.3.1 Exposure at Default 145 3.3.2 Current replacement cost 145 3.3.3 Potential future exposure 147 3.3.4 Calculation example: EAD determination under SA-CCR 158 3.4 Use of simplified approaches 159 3.4.1 Simplified SA-CCR 160 3.4.2 Revised original exposure method 161 3.5 Expected impact on the banking industry 161 Recommended Literature 162 4. Chapter: The new securitisation framework 163 4.1 Introduction 163 4.2 The securitisation framework under Basel II 164 4.2.1 Scope and definitions 164 4.2.2 Exclusion of securitised exposure from the calculation of risk-weighted exposure amount 165 4.2.3 Treatment of securitisation exposures 167 4.3 Revisions to the securitisation framework under Basel IV 168 4.3.1 Criticism of the existing rules 168 4.3.2 New approaches and a revised hierarchy for the determination of risk-weighted exposure amounts 171 4.3.3 Risk weights for securitisation positions when complying with STC criteria 184 4.4 General Conclusions 189 Recommended Literature 190 5. Chapter: Capital Requirements for Bank’s Equity Investments in Funds 193 5.1 Overview 193 5.2 Trading book vs banking book boundary 194 5.3 Own funds requirements for funds in the banking book 195 5.3.1 Scoping and hierarchy of approaches 195 5.3.2 Funds under the standardised approach 196 5.3.3 Funds under the internal ratings-based approach (IRB) 199 5.3.4 Leverage adjustment under the LTA and the MBA 200 5.3.5 Treatment of funds that invest in other funds (target funds, fund of funds) 201 5.4 Summary and conclusion 202 Recommended Literature 203 6. Chapter: Fundamental Review of the Trading Book: A New Age for Market Risks . 207 6.1 Introduction 207 6.2 Revised trading book boundary 208 6.2.1 Revised boundary of the trading and banking books 209 6.2.2 Reallocation of positions between books 212 6.2.3 Internal risk transfer 213 6.2.4 Example for national implementation: Boundary requirements and thresholds in the EU 214 6.3 The revised standardised approach for market risks 215 6.3.1 Linear and non-linear price risks 217 6.3.2 Default risk charge 229 6.3.3 Residual risk add-on 230 6.3.4 Simplified alternative to the standardised approach 231 6.3.5 Example for national implementation: The implementation of the SBA in the EU 233 6.4 Internal Models Approach for market risk (IMA-TB) 235 6.4.1 Regulatory background and goals 235 6.4.2 Procedural and organisational challenges 236 6.4.3 Methodological amendment 237 6.4.4 Impact on capital requirements 248 6.5 Business implications and impact in the financial markets 251 6.5.1 Market microstructure 252 6.5.2 The competitive landscape 253 6.5.3 Possible solutions and workarounds 254 6.6 Optimisation considerations 256 6.6.1 Selective IMA – general aspects 257 6.6.2 Example I: Diversification benefit realisation 258 6.6.3 Example II: Optimisation of risk factors 258 6.7 Conclusions 259 Recommended Literature 262 7. Chapter: CVA Risk Capital Charge Framework 265 7.1 Credit Valuation Adjustment 265 7.1.1 Definition of the term “Credit Valuation Adjustment” 265 7.1.2 Background of the regulatory CVA 266 7.1.3 Revision of the CVA framework 267 7.1.4 Hierarchy of approaches 269 7.2 FRTB-CVA framework 270 7.2.1 Regulatory requirements for the application of the FRTB-CVA framework 270 7.2.2 Exposure value for the FRTB-CVA 272 7.2.3 Standardised approach for CVA (SA-CVA) 273 7.3 Basic CVA framework 277 7.3.1 Side note: Calculation of the CVA Risk Capital Charge under the current standardised method according to Basel III 277 7.3.2 Regulatory requirements for the application of the basic CVA framework 280 7.3.3 Exposure value for the basic CVA 280 7.3.4 Determination of regulatory capital requirements based on the basic CVA framework 281 7.4 Additional aspects and expected effects 285 Recommended literature 286 8. Chapter: Operational Risk 289 8.1 Introduction 289 8.2 Current methods pursuant to Basel II 290 8.2.1 Basic Indicator Approach and Standardised Approach 290 8.2.2 Advanced Measurement Approaches 292 8.2.3 Criticism of the existing approaches 293 8.3 Overview: From Basel II to Basel IV 293 8.4 Standardised Approach for operational risk (BCBS 424) 294 8.4.1 Methodology of the SA 294 8.4.2 Minimum standards for the use of loss data 301 8.5 Future impact 302 8.5.1 Capital requirements for OpRisk 302 8.5.2 Practical considerations 302 8.5.3 Disclosure 303 8.6 Conclusion 303 Recommended Literature 305 9. Chapter: Capital Floors 307 9.1 Introduction 307 9.2 Reasons for the new capital floor 309 9.3 Basel IV Capital Floor 312 9.3.1 Capital Floors in Basel I and II 313 9.3.2 Calculation of the floor 317 9.3.3 Transitional Cap Rules 318 9.3.4 Choice of which standardised approach 320 9.3.5 Global implementation 320 9.4 Interactions and interdependencies to other Basel IV rules 321 9.4.1 Overview of the goals and quantitative impact of the capital floor and other Basel IV changes 323 9.4.2 Impact of the capital floor on the standardised approaches and their implementation 324 9.4.3 Optimisation of the standardised approaches 325 9.4.4 Impact of the capital floor on pricing models 327 9.4.5 Relationship between the capital floor and the scope of application of the IRB Approach 331 9.5 Conclusions 332 Recommended Literature 333 10. Chapter: New Basel Framework for Large Exposures 335 10.1 Background 335 10.2 Scope 336 10.3 Large exposure limits 336 10.4 Eligible capital 338 10.5 Counterparties and connected counterparties 339 10.6 Definition of exposure 341 10.7 Assessment base 342 10.7.1 On and off-balance sheet items in the banking book 342 10.7.2 Counterparty risk 342 10.7.3 Trading book items 343 10.8 Recognition of credit risk mitigation 343 10.9 Exemptions 345 10.10 Look-through of funds and securitisations 347 10.11 Regulatory reporting 350 10.12 Implementation of the updated framework in the CRR II 350 10.13 Summary 351 Recommended Literature 354 11. Chapter: Disclosure 357 11.1 Introduction 357 11.2 Disclosure guidelines 358 11.3 Risk management, key prudential metrics and risk-weighted assets (RWA) 362 11.4 Linkages between financial statements and regulatory exposures 365 11.5 Composition of capital and TLAC 368 11.6 Macroprudential supervisory measures 371 11.7 Leverage Ratio 372 11.8 Disclosures related to liquidity 373 11.9 Credit risk 378 11.9.1 General information on credit risk 380 11.9.2 Credit risk mitigation 383 11.9.3 Credit risk under the standardised approach 384 11.9.4 Credit risk under the IRB Approach 385 11.10 Counterparty credit risk 386 11.11 Securitisation 390 11.12 Market risk 391 11.13 Interest rate risk in the banking book 399 11.14 Remuneration 400 11.15 Benchmarking 402 11.16 Operational risk 403 11.17 Credit valuation adjustments 406 11.18 Asset encumbrance 407 11.19 European implementation 408 11.19.1 European implementation of phase I 408 11.19.2 European implementation of phase II 410 11.20 Conclusions and expected effects 410 Recommended Literature 412 12. Chapter: Interest Rate Risk in the Banking Book (IRRBB) 415 12.1 Introduction 415 12.2 Principles for treatment within the framework of Pillar 2 416 12.2.1 Definitions 416 12.2.2 The twelve Principles for the management of IRRBB 416 12.2.3 Interest rate shock scenario design 419 12.2.4 The EBA guidelines on the management of interest rate risk arising from non-trading book activities 420 12.2.5 Similarities and differences between the BCBS Principles and the EBA Guidelines 421 12.3 The Standardised Framework 423 12.3.1 Introduction 423 12.3.2 Assigning positions to time buckets 424 12.3.3 Estimating the impact on EVE 426 12.3.4 Calculation of minimum capital requirements 427 12.4 Conclusion and outlook 427 Recommended literature 428 13. Chapter: TLAC and MREL – The Extension of the Regulatory Capital Definition and the Scope of Supervision 429 13.1 Background 429 13.2 TLAC 431 13.2.1 TLAC implementation 431 13.2.2 TLAC calibration 431 13.2.3 TLAC eligible instruments 431 13.2.4 Resolution entities and internal TLAC 432 13.2.5 TLAC holdings 433 13.2.6 TLAC-Reporting 435 13.2.7 TLAC disclosure 436 13.3 MREL 437 13.3.1 MREL implementation at EU level 437 13.3.2 MREL calibration 439 13.3.3 Resolution entities and internal MREL 445 13.3.4 MREL holdings 446 13.3.5 MREL reporting 446 13.3.6 MREL disclosure 448 13.4 Outlook and summary 448 Recommended Literature 450 14. Chapter: Strategic Implications 453 14.1 Introduction 453 14.2 The capital squeeze 453 14.2.1 RWA impact 453 14.2.2 Impact on capital 455 14.3 How to cope with Basel IV – Strategic implications 458 14.3.1 Capital management 459 14.3.2 Portfolio composition 460 14.3.3 Product structure 462 14.3.4 Operations 462 14.4 Conclusion 463
£59.50
Wiley-VCH Verlag GmbH Rettungsanker Bitcoin: Wie uns das digitale Gold
Book SynopsisImmer wieder lesen wir in den Medien von großen Bitcoin-Hacks, extremen Kursschwankungen oder von Kriminellen, die im Darknet mit Hilfe von Bitcoin ihr Unwesen treiben. So hat der Bitcoin ein Schmuddel-Image bekommen. Tatsächlich kann uns der Bitcoin aber helfen, der kommenden Inflation zu begegnen und andere Krisen in den Griff zu bekommen. Sebastian Markowsky und Philipp Sandner gehören zu den besten Bitcoin-Finanzexperten Deutschlands. Gemeinsam mit Simone Matthaei räumen sie in ihrem Buch mit den Vorurteilen gegenüber dem Bitcoin auf. Sie tun dies, weil sie überzeugt sind, dass der Bitcoin bei den existierenden und sich anbahnenden existentiellen Krisen der entscheidende Rettungsanker sein kann. Krisen, die da heißen: Steigende Inflation, die das Leben für viele Menschen unbezahlbar macht und lebenslange Ersparnisse vernichtet. Ein dramatischer Investitionsstau, der dazu führt, dass die notwendigen Investitionen in die Zukunft, im Energiesektor, beim Klimaschutz oder beim Aufbau einer weltweiten Kreislaufwirtschaft gar nicht oder viel zu zögerlich vorankommen. Die Autoren zeigen sowohl, sich der Einzelne vor der Inflation schützen kann als auch, wie durch die Einführung des Bitcoins als Zahlungsmittel diesen Krisen begegnet werden kann.
£20.25
Wiley-VCH Verlag GmbH CRR III: The EU Implementation of Basel IV - the
Book SynopsisThe revised banking package of CRD VI and CRR III contains a large number of new requirements, the implementation of which will pose major challenges for the banking industry. In addition to the adoption of the final Basel IV regulations, other topics such as crypto assets or the consideration of ESG in banking supervisory law will be addressed. The current proposals of the EU Commission for the implementation of the Basel reform proposals are presented in the edited volume by Martin Neisen and Stefan Röth. The aim is to give the reader a comprehensive but easily understandable overview of the proposals and to work out implementation challenges in a practical way. With the help of an international team of experts, the complexity of the topic is reduced and important assistance is offered. Compared to the second edition of the Basel IV book, the topics already implemented in the EU as part of the CRR II have been removed and a comprehensive presentation of all content of CRD VI and CRR III has been added.Table of ContentsForeword 11 Preface 13 1. Chapter: Introduction 15 Literature 17 2 Chapter: Revision of the Standardised Approach for Credit Risk (SA-CR) 19 2.1 Introduction 19 2.2 General aspects 23 2.3 Determination of the exposure value 25 2.4 Exposures to institutions 26 2.5 Exposures to corporates 29 2.6 Specialised lending exposures 30 2.7 Subordinated debt and equity exposures 32 2.8 Retail exposures 33 2.9 Exposures secured by mortgages on immovable property 34 2.9.1 General requirements 35 2.9.2 Calculation of the exposure-to-value (ETV) 36 2.9.3 Exposures secured by mortgages on residential immovable property 37 2.9.4 Risk positions secured by mortgages on commercial immovable property 40 2.9.5 Receivables related to land acquisition, development and construction (ADC) 41 2.9.6 Changes compared to the current CRR regulations 42 2.10 Defaulted receivables 43 2.11 Other assets 43 2.12 Additional risk weights for risk positions with currency mismatches 43 2.13 Use of external ratings 44 2.13.1 General aspects 44 2.14 Credit risk mitigation techniques 46 2.14.1 The financial collateral simple method 46 2.14.2 The financial collateral comprehensive method 47 2.14.3 Eligibility of repurchase agreements and similar transactions 48 2.14.4 Consideration of guarantees and credit derivatives 49 2.15 Summary 50 Literature 51 3 Chapter: The future of the IRB Approach 53 3.1 Introduction to the fundamentals of the IRB approach in accordance with CRR 53 3.1.1 Introduction to the IRB risk weight formula 54 3.1.2 The adoption of the IRB approach 60 3.1.3 Calculation of RWA and EL 60 3.1.4 Minimum requirements for the entry and ongoing use of the IRBA 66 3.1.5 Approval process: home/host coordination 73 3.1.6 Decision on the application 73 3.2 The implementation of the Basel Committee’s initiative to improve the IRB approach in the EU 74 3.2.1 Introduction 74 3.2.2 Scope of the internal models 76 3.2.3 Partial use of the IRB approach 80 3.2.4 Risk parameter floors as an instrument RWA variability reduction 82 3.2.5 Parameter estimation procedure 84 3.2.6 Credit risk mitigation 87 3.2.7 Changes in the modelling specifications 88 3.2.8 Expected impact on banks 90 3.2.9 Conclusions 93 Literature 94 4 Chapter: Supervisory treatment of market risks 95 4.1 Introduction 95 4.2 General and overarching adjustments 96 4.3 Revised trading book boundary 97 4.4 Adjustments to the requirements for reclassifications (Article 104a CRR 3) 99 4.5 Adjustments to the requirements for internal risk transfers (Article 106 CRR 3) 100 4.6 Revised treatment of investments in funds in the trading book 101 4.7 Adjustments to the Alternative Standardised Approach for market risk 103 4.7.1 Adaptation to the qualitative requirements of the A-SA 104 4.7.2 Technical adjustments to the Alternative Standardised Approach for market risk (A-SA) 104 4.8 Simplified standardized approach for market risk (S-SA) 107 4.9 Alternative Internal Model Approach for market risk (A-IMA) 107 4.9.1 Permission and own funds requirements 108 4.9.2 General requirements 108 4.9.3 Internal model for default risks 109 4.10 Conclusion 110 Literature 110 Contents 7 5 Chapter: The CVA risk capital charge framework 113 5.1 Introduction 113 5.2 Hierarchy of approaches 114 5.3 CVA exemptions and securities financing transactions 116 5.4 Standardised approach for CVA 117 5.4.1 Regulatory CVA model 117 5.4.2 Calculation of own funds requirements 118 5.5 Basic approach for CVA 122 5.5.1 Determination of the regulatory capital requirements on the basis of the basic CVA 122 5.5.2 Determination of the reduced version of the BA-CVA in detail 122 5.5.3 Determination of the full version of the BA-CVA in detail 124 5.6 Conclusion and expected impact 126 Literature 126 6 Chapter: Operational risks 129 6.1 Background 129 6.2 Methods for Determining OpRisk According to Basel II 130 6.2.1 Basic indicator approach and standardised approach 131 6.2.2 Advanced measurement approaches 132 6.2.3 Criticism of existing approaches 133 6.3 Overview: From Basel II to CRR 3 133 6.4 Standardised approach to operational risk (BCBS 424) 135 6.4.1 Functioning of the revised standardised approach 135 6.4.2 Calculation of annual OpRisk-related losses 140 6.4.3 Management of operational risks 142 6.4.4 Disclosure 143 6.5 Outlook 144 6.5.1 Capital requirements for OpRisk 144 6.5.2 Further consideration 144 6.6 Summary and conclusion 145 Literature 147 7 Chapter: The output floor 149 7.1 Introduction 149 7.2 Reasons for the introduction of the output floor 151 7.2.1 Outdated or no Basel I calculation systems 151 7.2.2 National deviations in the implementation of Basel I and the Basel I capital floor 152 7.2.3 The scope of application of the Basel I floor 152 7.2.4 Development of new standard approaches 152 7.3 The CRR 3 output floor 155 7.3.1 Scope of CRR 3 output floors 155 7.3.2 Calculation of the CRR 3 output floor 155 7.3.3 Transitional arrangements for the output floor pursuant to CRR 3 158 7.3.4 Selection of the right standardised approach 159 7.3.5 Deviations from Basel IV capital floor 159 7.4 Objectives and effects of the output floor 160 7.4.1 Impact of the output floor on standard approaches and their implementation 160 7.4.2 Optimization of the standardised approaches 161 7.4.3 Influence of the output floor on valuation models 164 7.4.4 Interaction between the floor and the scope of the IRB approach 167 7.5 Conclusion 168 Literature 169 8. Chapter: Disclosure 171 8.1 Introduction 171 8.2 Proportionality principle 172 8.3 Risk management objectives and policy 174 8.4 Scope of disclosure 174 8.5 Own funds 175 8.6 Capital requirements and risk-weighted exposure amounts 176 8.7 Counterparty credit risk 177 8.8 Countercyclical capital buffer 178 8.9 Indicators of global systemic importance 178 8.10 Credit risk 178 8.10.1 Credit risk mitigation 180 8.10.2 Credit risk in the standardised approach 180 8.11 Asset encumbrance 181 8.12 Market risk 181 8.13 CVA risk 181 8.14 Operational risk 182 8.15 Disclosure of key parameters (“key metrics”) 183 8.16 Interest rate risk of the banking book (IRRBB) 183 8.17 Securitisations 184 8.18 Environmental, social and governance risks – ESG risks 184 8.19 Remuneration policy 187 8.20 Leverage ratio 188 8.21 Liquidity ratios 188 8.22 Conclusion and expected impact 189 Literature 189 9. Chapter: MREL and TLAC as part of the resolution regime 191 9.1 Introduction 191 9.2 Key requirements for resolution capability 193 9.2.1 Minimum requirements of the EBA 193 9.2.2 Minimum requirements of the SRB 193 9.3 TLAC 197 9.3.1 TLAC implementation 197 9.3.2 TLAC calibration 198 9.3.3 TLAC-eligible liabilities 198 9.3.4 Resolution units and internal TLAC 198 9.3.5 TLAC holdings 202 9.3.6 TLAC reporting requirements 202 9.3.7 TLAC disclosure 203 9.4 MREL 203 9.4.1 MREL implementation 203 9.4.2 MREL calibration 204 9.4.3 MREL-eligible liabilities 205 9.4.4 Resolution units and internal MREL 208 9.4.5 MREL holdings 210 9.4.6 MREL reporting requirements 210 9.4.7 MREL disclosure 213 9.5 Outlook and conclusion 214 Literature 216 10 Chapter: ESG: Regulatory overview for dealing with sustainability risks 219 10.1 Sustainability risks in the financial sector 219 10.2 Consideration of sustainability aspects in SREP 219 10.2.1 Regulatory background 219 10.2.2 Overview of the expectations of European banking supervision 222 10.2.3 Consideration of ESG in the Supervisory Review and Evaluation Process (SREP) 225 10.3 ESG ratings – methodology and comparison 226 10.3.1 Introduction to the subject of ESG ratings 226 10.3.2 Overview of the ESG rating market 229 10.3.3 Methodological approaches and problems 232 10.4 Adjustment of capital requirements to cover sustainability risks 238 10.4.1 A possible adjustment of the minimum capital requirements on the basis of ESG ratings 238 10.4.2 Privileging of infrastructure projects under Pillar I 240 10.4.3 “Green Supporting Factor” and “Brown Penalty Factor” as adjustment factors 241 10.4.4 Sustainability Factor (SF) and Sustainability Weight (SW) as alternatives to the binary approach 243 10.4.5 Outlook 245 Literature 247 11. Chapter: Cryptoassets 249 11.1 Definition and types of cryptoassets 249 11.2 Development of a prudential framework 250 11.3 Classification procedure for cryptoassets 251 11.4 Regulatory requirements in relation to Group 1 cryptoassets 253 11.4.1 Credit risk 253 11.4.2 Market price risk 256 11.4.3 Add-on factor for infrastructure risk 257 11.4.4 Credit valuation adjustment (CVA) 257 11.4.5 Determination of counterparty default risk 258 11.5 Regulatory requirements in relation to Group 2a cryptoassets 258 11.5.1 Minimum capital requirements for credit and market risk 259 11.5.2 Credit valuation adjustment 260 11.5.3 Determination of counterparty default risk 260 11.6 Regulatory requirements in relation to Group 2b cryptoassets 261 11.6.1 Minimum capital requirements for credit and market risk 261 11.6.2 Credit valuation adjustment 261 11.6.3 Determination of counterparty default risk 261 11.7 Final BCBS standard 262 11.8 Conclusion 263 Literature 263 12. Chapter: Further requirements of CRD 6 265 12.1 Introduction 265 12.2 Supervisory powers 265 12.2.1 Requirements for the independence of competent authorities 265 12.2.2 Extension of supervisory powers in the case of acquisitions, disposals, mergers and divisions 266 12.2.3 Professional qualification and personal reliability (Fit & Proper) 267 12.3 Branches from third countries 269 12.3.1 Approval 270 12.3.2 Minimum regulatory requirements 270 12.3.3 Reporting requirements 272 12.3.4 Supervision 272 12.3.5 Conclusion 273 Literature 273
£63.75
Campus Verlag The Quest for Stable Money: Central Banking in
Book SynopsisCaught up in the costly Napoleonic wars, Austria went into sovereign default in 1811. Five years later, the public authorities founded a national bank to be financed and run by private shareholders, the idea being that an independent bank would help rebuild trust in money. During the two hundred years that followed, the Oesterreichische Nationalbank grew from the treasury's banker-of-choice into a central bank, and from a private stock corporation into a public institution. Yet the challenges facing today's Nationalbank are a surprising echo of the past: How can it provide stable money? How far must central bank independence go? How does monetary policy making work in a multinational monetary union? Stretching from the Nationalbank's predecessor, the Wiener Stadtbanco, to Austria's integration into the European Union today, this engaging book provides the first extensive overview of Austria's monetary history.
£30.40
Springer-Verlag Berlin and Heidelberg GmbH & Co. KG Web 2.0 in der Finanzbranche: Die neue Macht des
Book SynopsisDieses Buch richtet sich an alle Finanzdienstleister, die die neuen Chancen von Web 2.0 nutzen wollen: an Fach- und Führungskräfte aus Banken, Versicherungen, Sparkassen, an alle Vertriebspartner der Branche, an Finanzvertriebe, Verbände und Vereine. Das Buch bietet einen Überblick über die Anwendungsmöglichkeiten von Web 2.0 in der Finanzdienstleistungsbranche und zeigt anhand von vielfältigen Praxisbeispielen und Erfahrungsberichten, was bereits in der Branche funktioniert und was nicht. "Leicht verständlich, gut lesbar, aktuelle Inhalte, konsequenter Branchenbezug und hohe didaktische Qualität." Professor Dr. Heinrich Schradin, Universität zu Köln. „Web 2.0 ist für die Finanzbranche eine große Herausforderung. Dieses Buch zeigt anhand vieler Praxis-Beispiele einfach und verständlich, wie Banken, Versicherungen und Finanzdienstleister das Potenzial von Web 2.0 erfolgreich für ihren Geschäftserfolg erschließen.“ Prof. Dr. Volker Eickenberg, Professor für Finanz- und Anlagemanagement und Dekan der Europäische Fachhochschule Rhein/Erft GmbHTrade Review"Eine Orientierungshilfe für das Web 2.0 und dessen Bedeutung für die Finanzindustrie bietet das Buch "Web 2.0 in der Finanzbranche": Auf das Wesentliche zusammengefasst erfahren Führungskräfte aus der Finanzbranche, wie sie sich künftig in diesem neuen Segment zielführend positionieren können." Fondswerte MAGAZIN, Juli 2011Table of ContentsVom alten zum neuen Web.- Rich Media: Neuer Standard im Web.- Soziale Netzwerke: Zusammen ist man weniger allein.- Bewertungsportale: Neue Macht des Konsumenten.- Blogs, Chats und Foren.- Web 2.0 als strategische Herausforderung.
£34.19
Springer-Verlag Berlin and Heidelberg GmbH & Co. KG FinTechs: Disruptive Geschäftsmodelle im
Book SynopsisDieses Buch stellt bestehende FinTech-Geschäftsmodelle vor und diskutiert sie. Der Schwerpunkt liegt dabei nicht auf technischen, sondern auf betriebswirtschaftlichen Aspekten. Die Autoren decken mit ihren Beiträgen thematisch alle bereits von FinTechs angebotenen C2C-, B2C- und B2B-Finanzdienstleistungen ab.Table of ContentsDisruptive Geschäftsmodelle von FinTechs: Grundlagen, Trends und Strategieüberlegungen.- Best of Both Worlds: Banken vs. FinTechs?.- Geschäftsmodelle von ayondo, BELLIN, BERGFÜRST, Companisto, CRX Markets, Damantis, Debitos, draglet, Ginmon, Guidanta, LaterPay, Lendico, LQID, Rechnung48, Seedmatch, Tradegate, treefin und wikifolio.
£44.99
Springer-Verlag Berlin and Heidelberg GmbH & Co. KG Erfolgsfaktoren von Genossenschaftsbanken: Eine
Book SynopsisAuf der Basis einer empirischen Untersuchung von über 900 deutschen Genossenschaftsbanken analysiert Thomas Maurer im Zeitverlauf, wie die Rentabilität mit der regionalen Lage und weiteren Einflussgrößen korreliert. Der Autor zeigt auf, dass der Erfolg von einer Vielzahl betriebswirtschaftlicher, volkswirtschaftlicher und demografischer Faktoren abhängig ist. Wesentliche Faktoren sind dabei die Lage (städtisch, halbstädtisch oder ländlich), die Betriebsgröße, die Kreditquote, die Eigenkapitalquote sowie Steigung und Niveau der Zinsstrukturkurve.Table of ContentsErfolg und Erfolgsfaktoren.- Kostenvorteile und Fusionen.- Theorie der Erfolgsmessung.- Jahresabschlussanalyse.- Return-on-Investment-(ROI-)Analyse.- Empirische Analyse des Einflusses wesentlicher Faktoren auf den Bankerfolg.
£49.49
Springer-Verlag Berlin and Heidelberg GmbH & Co. KG Trusted Advisor in Marketing und Vertrieb:
Book SynopsisDieses Buch beschreibt, wie vertrauensvoll beratende Experten – Trusted Advisor – die Marketing- und Vertriebsstrategien in Organisationen wirkungsvoll unterstützen und damit erfolgreicher machen können. Unternehmer, Marketingmanager, Vertriebsverantwortliche, Vertriebsmitarbeiter und Selbstständige erfahren, welche Beziehung sich zu ihren Kunden entwickelt, wenn sie sich als gewissenhafte und glaubwürdige Berater positionieren. Der Ehrgeiz, den Kunden in komplexen Entscheidungssituationen immer wieder zur besten Wahl aus den zur Verfügung stehenden Optionen zu verhelfen, öffnet dem Vertrieb neue Türen. Am Beispiel von Rechts- und Steuerberatern, IT-Spezialisten, Finanz- und Bankberatern sowie Versicherungsvermittlern werden individuelle Voraussetzungen beschrieben, konkrete Vorschläge für die Implementierung des Konzepts gemacht und die Umsetzung durch eine Toolbox praktisch unterstützt. Table of ContentsDer Begriff “Trusted Advisor”.- Das Trusted-Advisor-Konzept in Marketing und Vertrieb.- Branchenvarianten des Trusted-Advisor-Ansatzes.- IT Branche.- Legal Businesses.- Finanz- und Investmentberatung.- Versicherungen.- Gesundheitsbranche.- Von der Theorie zu betrieblichen Praxis.- Die Trusted Advisor-Toolbox.
£42.74
Springer-Verlag Berlin and Heidelberg GmbH & Co. KG Prüfungswissen Rechnungswesen für Bankkaufleute
Book SynopsisDieses Buch vermittelt Auszubildenden Bankkaufleuten das komplette Wissen, das sie für die Abschlussprüfung im Fach "Rechnungswesen und Steuerung" benötigen. Jedes Kapitel beginnt mit einer kompakten Einführung und schließt mit Erläuterungen, Visualisierungen und Aufgaben. Auf diese Weise kann der Anwender jedes Thema sukzessive bearbeiten und lernt dabei durch die sinnhaft angeordnete Reihenfolge das Gesamtkonstrukt Rechnungswesen immer intensiver kennen. Durch diese nachhaltige Herangehensweise ergeben sich Möglichkeiten, die Inhalte nicht nur in Einzelarbeit zu verinnerlichen, sondern das Buch auch aktiv in der Gruppe einzusetzen. Das Buch eignet sich für ein Präsenztraining mit Fachtrainern, den Berufsschulunterricht, das Einzeltraining zuhause, für Nachhilfeorganisationen und für Ausbildungsabteilungen in Banken und Sparkassen. Table of ContentsRechnungswesen – begriffliche Klärung.- Von der Inventur zum Inventar.- Die Bilanz als Fundament der Buchführung.- Bestands- und Erfolgskonten.- Zusammengesetzte und gemischte Konten.- Bewertung von Sachanlagen, Wertpapieren und Forderungen.- Rückstellungen, Rücklagen, stille Reserven.- Kosten- und Erlösrechnung.- Marktzinsmethode.- Deckungsbeitragsrechnung und Preisgrenzen.- Betriebsergebnis im Controlling.- Bilanzkennzahlen und ihre Bedeutung.- Teil- und Standard-Einzelkostenrechnung.
£42.74
Springer-Verlag Berlin and Heidelberg GmbH & Co. KG Operative Exzellenz in Retailbanken: Innovative
Book SynopsisDieses Buch basiert auf den Erfahrungen des Autobauers Toyota und ganz besonders darauf, die wirklichen Erfolgsfaktoren des Systems zu identifizieren, von denen Retailbanken lernen können, operative Exzellenz in einer ganz neuen Qualität zu betreiben. Trotz aller Unterschiede zwischen den Produktionsprozessen in der Sachgüterindustrie und in Dienstleistungsunternehmen arbeitet Klaus Röhr nützliche Ansatzpunkte für das Kreditgewerbe heraus, etwa, wenn es um die Anstrengungen zur systematischen Identifikation von Verschwendung, um die Qualifikation von Mitarbeitern und die Etablierung effizienter Strukturen geht.Table of ContentsDie Toyota Motor Company.- Die Methoden von Toyota.- Die Retail Bank AG.- Zukunft hat, der Zukunft macht.- Operative Exzellenz: die ersten Schritte.- Implementierung des ersten Verbesserungskreislaufs.- Die Rolle der Informationstechnologie.- Implementierung des zweiten Verbesserungskreislaufs.
£27.54
Springer-Verlag Berlin and Heidelberg GmbH & Co. KG Nachhaltigkeitsreporting für Finanzdienstleister
Book SynopsisDieser Band der "Edition Bankmagazin" ist ein praxisorientierter Leitfaden zum Nachhaltigkeitsreporting in Finanzdienstleistungsunternehmen. Schwerpunkte des Werks sind die Bedeutung eines unternehmerischen Nachhaltigkeitsmanagements als Grundlage belastbarer Kommunikation, die Besonderheiten von Reporting in Banken und Versicherungsunternehmen, ein Überblick über relevante Frameworks für die Berichterstattung sowie ein ausführlicher Blick auf die Zukunftstrends von Berichterstattung zu nicht-finanziellen Aspekten der Geschäftstätigkeit.Berichterstatter finden hier die nötigen Fakten und Entscheidungskriterien, um ein effektives Reporting auf- oder auszubauen, das individuell auf ihr Unternehmen zugeschnitten ist. Schritt für Schritt wird erläutert, worauf es bei der Erstellung eines Berichts ankommt und was die Stellschrauben für Effizienz und Wirksamkeit sind. Zahlreiche Praxistipps und Fallbeispiele von Banken und Versicherern erleichtern dabei die Umsetzung und bieten Denkanstöße für die individuelle Skalierung und Ausrichtung von Berichterstattung und Kommunikation. Trade Review“... Der vorliegende Band versteht sich als Leitfaden für Praktiker im Finanzdienstleistungsbereich, bietet aber auch Hinweise und Anregungen darüber hinaus. ... Der Stoff wird inhaltlich verständlich und textlich gut lesbar vemittelt. Zahlreiche Beispiele und Abbildungen erhöhen die Anschaulichkeit ...” (Controller Magazin, Jg. 45, Heft 4, Juli-August 2020)Table of ContentsNachhaltigkeit in der Finanzbranche.- Nachhaltigkeitsmanagement.- Nachhaltigkeitsberichterstattung.
£28.49
Springer-Verlag Berlin and Heidelberg GmbH & Co. KG Zukunftsfähigkeit deutscher Sparkassen:
Book SynopsisMichael Deeken und Kevin Specht zeigen in diesem essential auf, was den Faktor Zukunftsfähigkeit in Bezug auf Sparkassen ausmacht. Im Speziellen führen sie die Notwendigkeit von Innovationen im Bereich der Organisationsstruktur und von Kooperationsmodellen auf. Viele Sparkassen sehen sich aktuell verleitet, dem immensen Kostendruck durch Filialschließungen zu begegnen. Die Autoren sehen gerade darin die Gefahr, den Kunden aus dem Mittelpunkt des Handelns zu verlieren. Eine zukunftsfähige Vorgehensweise muss darin bestehen, für die Kundenansprache regionale Anker zu erhalten und Spezialthemen sowie margenstarkes Geschäft zu zentralisieren oder durch Kooperationsmodelle im Markt zu ergänzen. Besonders in der Vermögensverwaltung bieten sich für Sparkassen kontrollierte Outsourcingmodelle an, welche zu einer optimierten Befriedigung von Kundenbedürfnissen führen.Table of ContentsAuch Sparkassen im Dilemma der Finanzindustrie.- Attribute zukunftsfähiger Unternehmen.- Sparkassen von gestern versus Sparkassen von morgen.- Die Krise der Sparkassen als Opportunität – innovative Gestaltungsoptionen durch Kooperationsmodelle.
£9.99
Springer-Verlag Berlin and Heidelberg GmbH & Co. KG Praxishandbuch Digital Banking
Book SynopsisKaum eine Industrie wird durch die Digitalisierung so stark geprägt wie der Bankensektor. Neue Technologien verändern die Wertschöpfungskette im Privatkundengeschäft ebenso wie im Firmenkunden- und Kapitalmarktgeschäft. Auch zentrale Funktionen wie Risikomanagement, Finance, Controlling sowie Compliance und Kommunikation müssen sich den Herausforderungen des digitalen Zeitalters stellen. Neben jungen Finanztechnologieunternehmen („FinTechs“) stellen auch Technologie- bzw. Internetkonzerne mit innovativen Lösungen traditionelle Geschäftsmodelle der Finanzdienstleister in Frage. Die erfolgreiche Gestaltung der digitalen Transformation wird somit zum entscheidenden Faktor für eine nachhaltig erfolgreiche Unternehmensentwicklung. Das vorliegende Werk beleuchtet die unterschiedlichen Facetten der Digitalisierung und deren Auswirkungen auf das Bankgeschäft. Dazu gehören die unter dem Stichwort Banking 4.0 dargestellten strategischen Herausforderungen an die Bank der Zukunft angesichts neuer Technologien, veränderter Kundenerwartungen und eines dynamischen Wettbewerbsumfelds. Das Handbuch wurde von führenden Experten und erfahrenen Praktikern verfasst und richtet sich an Fach- und Führungskräfte, die sich mit der Digitalisierung im Bankensektor beschäftigen.Table of ContentsDie Digitalisierung im Banking – strategische Trends: Banking 4.0 – Strategische Herausforderungen im digitalen Zeitalter; Digitale Transformation im Banking - ein Überblick; FinTech - Revolution oder Hype?.- Ausgangslage: Die Architektur der Bank-IT an der Schwelle zur Digitalisierung: Die Bank-IT: Digitale Revolution – Eine Retroperspektive;Ist die Bank-IT im digitalen Transformationszeitalter angekommen?; Organisation und Prozesse der Bank-IT in der Digitalisierung; Börsen, Zentralverwahrer und Clearer und ihre Rollen im Digital Banking; Digitale Transformation im Banking – lessons learned.- Die Bank-IT der Zukunft: Wesentliche Themenfelder: Auswirkung der Digitalisierung auf Kernbanksysteme deutscher Banken; Gesamtbanksteuerung in der Digitalisierung; Zahlungsverkehr: vom Überweisungsträger zu Instant Payments; Das Kapitalmarktgeschäft in der Digitalisierung; Blockchain – wie Banken die Technologie aus Prozess- und Produkt-Sicht nutzen können; Kapitalmarktkommunikation im digitalen Zeitalter; Digitalisierung der Bankfilialen vor dem Hintergrund neuer, strategischer Anforderungen im Privatkundengeschäft; Graph-Analyse und maschinelles Lernen; Das Internet der Dinge erfordert neue Finanzdienstleistungen; Rechtlicher Rahmen des Digital Banking.
£104.49
Springer-Verlag Berlin and Heidelberg GmbH & Co. KG Business Model Innovation in Banken: Robustes
Book SynopsisWie und in welche Richtung sich das traditionelle Geschäftsmodell von Banken in Zukunft verändern muss, behandelt dieses essential. Clemens Renker zeigt, dass Kreditinstitute die neuen Herausforderungen nicht mehr allein mit Erhaltungspolitik, Anpassungspolitik oder Produkt- und Prozessinnovationen bewältigen werden. Agilität und strategische Flexibilität sind die gefragten Kernkompetenzen, um eine Bank in ihrer Existenz zu sichern und Zukunftssicherheit zu gestalten. Es braucht „Neoretiker“, also Erneuerer, Transformatoren oder Change Manager, die ein tragfähiges, zukünftiges Bankwesen gestalten können. Table of Contents
£9.99
Springer-Verlag Berlin and Heidelberg GmbH & Co. KG Assessing Risk Assessment: Towards Alternative
Book SynopsisChristian Hugo Hoffmann undermines the citadel of risk assessment and management, arguing that classical probability theory is not an adequate foundation for modeling systemic and extreme risk in complex financial systems. He proposes a new class of models which focus on the knowledge dimension by precisely describing market participants’ own positions and their propensity to react to outside changes. The author closes his thesis by a synthetical reflection on methods and elaborates on the meaning of decision-making competency in a risk management context in banking. By choosing this poly-dimensional approach, the purpose of his work is to explore shortcomings of risk management approaches of financial institutions and to point out how they might be overcome.
£62.99
Springer-Verlag Berlin and Heidelberg GmbH & Co. KG Die Steuerung operationeller Risiken in
Book SynopsisSabrina Kiszka gibt einen Überblick über die Kategorien der operationellen Risiken, die nicht nur betriebsintern eine zunehmende Relevanz für Kreditinstitute besitzen, sondern auch in den Fokus der Bankenaufsicht rücken. Verknüpft mit aktuellen Beispielen aus der Bankenpraxis legt die Autorin einen geeigneten internen Steuerungsprozess dar. Auf Basis der bisherigen aufsichtsrechtlichen Messansätze analysiert die Autorin den überarbeiteten Standardansatz und zeigt als Ergebnis Verbesserungsvorschläge auf.Table of ContentsAufsichtsrechtliche Anforderungen an das Management operationeller Risiken.- Regulatorische Anforderungen an die Eigenmittelunterlegung operationeller Risiken.- Überarbeiteter Standardansatz zur Unterlegung der operationellen Risiken.
£47.49
Springer-Verlag Berlin and Heidelberg GmbH & Co. KG Der Betafaktor: Theoretische und empirische
Book SynopsisDieses Buch bietet Ihnen eine wirtschaftswissenschaftliche Analyse des Betafaktors Dieses Buch liefert eine umfassende Bestandsaufnahme zum Betafaktor im Capital Asset Pricing Model (CAPM) und greift praktisch alle aus heutiger Sicht relevanten Aspekte des Betafaktors auf. Dabei werden die Methoden der Betabestimmung – insbesondere im Rahmen der Unternehmensbewertung – diskutiert und die Einflüsse der bei der Betaschätzung festzulegenden Parameter sowohl theoretisch analysiert als auch empirisch anhand des deutschen Aktienmarkts untersucht. Eine Auswertung von Bewertungsgutachten und OLG-Beschlüssen bietet Einblicke in die aktuelle rechtsgeprägte Bewertungspraxis. Dieses Buch enthält eine Totalerhebung der deutschsprachigen Literatur zum Betafaktor In diesem Buch werden alle bis Ende 2014 erschienenen deutschsprachigen Fachaufsätze zum Betafaktor vorgestellt und bibliometirsch ausgewertet. Dieser umfangreiche Literaturüberblick bietet den Lesern umfassende Referenzmöglichkeiten. Zudem wird die Geschichte der Unternehmensbewertung seit dem Mittelalter dargestellt, wobei der Fokus auf der Risikoberücksichtigung bzw. dem Kapitalisierungszinssatz liegt. Die Autorin beleuchtet alle Aspekte des Betafaktors detailliert und verständlichDas Buch gibt einen umfassenden Überblick über die Behandlung des Betafaktors in Wissenschaft und Praxis. Es werden Empfehlungen bezüglich der Bestimmung des Betafaktors ausgesprochen, die theoretisch fundiert und zugleich praxistauglich sind. Zudem werden Diskrepanzen aufgezeigt und interpretiert, die zwischen diesen Empfehlungen und dem Verständnis in der Betafaktor-Literatur bzw. dem Vorgehen in der Praxis bestehen. Unter anderem werden die folgenden Thematiken bearbeitet: Ökonomische Bedeutung des Betafaktors (inkl. Financial Leverage, Operating Leverage, Debt Beta, Total Beta) Ermittlung des Betafaktors aus historischen Renditen (OLS-Schätzung) Praktische Probleme bei der Betaschätzung (z.B. Einfluss der Wahl von Index, Intervall und Schätzzeitraum, zeitliche Stabilität, Heteroskedastizität Alternative Methoden der Betabestimmung und deren Probleme (z.B. Peergroup, Branchenbeta, Fundamental Beta, Implizites Beta, Irrelevanz des t-Tests) Es erfolgt eine umfangreiche Auswertung von Bewertungsgutachten, die im Rahmen eines Squeeze-Out oder eines Beherrschungs- und/oder Gewinnabführungsvertrags erstellt wurden, sowie von obergerichtlichen Entscheidungen bei Spruchverfahren.Table of ContentsHistorische Entwicklung sowie Anlässe und Methoden der Unternehmensbewertung.- Schätzung des Betafaktors aus historischen Renditen.- Alternative Methoden der Betabestimmung.- Empirische Untersuchung des Betafaktors in Bewertungsgutachten und OLG-Beschlüssen.
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