Banking Books

Book SynopsisTo truly understand the current interest in the development of Islamic banking and finance in South-East Asia and how it is different from the conventional banking system, one must first understand the religious relationship originating from the Qur'an, and then trace the historical geographic and political developments of Islam over recent centuries. Only on this basis can the reader, without prejudice or cynicism, begin to appreciate Shari'ah law and Islamic jurisprudence. With this platform established in the first part of the book, readers are invited to learn about the financial products and services offered, understand the challenges in their development, and ultimately recognize the significant opportunities that Islamic banking and finance can provide both Muslims and non-Muslims.This second edition contains updates of statistics and dates with regards to the development of Islamic banking in Malaysia, Singapore, Indonesia and Brunei. In particular, the chapter on Singapore details significant developments such as the direction which major banks are taking towards Islamic banking and the increase in Islamic banking products being offered.Although written by a non-Muslim author, this highly-regarded book is being translated into Arabic by a leading Islamic university in the Middle East.Trade Review"... his insightful elucidation on the subject has nevertheless drawn widespread acclaim from critics all over the world. The first book of its kind to lay bare the mystique surrounding Islamic banking and finance, this highly-regarded book has even attracted interest from a leading Islamic university in the Middle East, an extraordinary feat considering he is a relative outsider compared to the many Arabs who have commented on the topic."BusinessCraftTable of ContentsIslamic History; Shari'ah Law and Islamic Jurisprudence; Islamic Commerical Law; Islamic Financial Products; Issues and Challenges of Islamic Banking Today; Islam in South-East Asia; Colonial Legacies: Islam and State Law in South-East Asia; Islamic Banking in Malaysia; Islamic Banking in Indonesia; Labuan: A Niche in the Islamic Money Market; Islamic Banking in Brunei; Banking in Singapore.

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Book SynopsisThis book explores the potential and problems of bank safety and efficiency arising from the rapidly growing area of cross-border banking in the form of branches or subsidiaries with primarily only national prudential regulation. There are likely to be differences in the treatment of the same bank operating in different countries or of different banks from different home countries operating in the same country with respect to deposit insurance provisions, declaration of insolvency, resolution of insolvencies, and lender of last resort protection. The book identifies these protection problems and discusses possible solutions, such as greater cross-border cooperation, harmonization and organizations.The contributors to this book include experts from different countries and from a wide range of affiliations, including academia, regulators, practitioners, and international organizations.Table of ContentsLandscape of International Banking and Financial Crises; Causes and Conditions for Cross-Border Instability Transmission and Threats to Stability; Prudential Supervision; Government Safety Net; Insolvency Resolution; Where to from Here: Policy Panel.

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Book SynopsisThe phenomenal worldwide development over the past decade of Islamic banking and finance is drawing much attention to Southeast Asia, which, on the platform of its own economic growth success, is also proving to be the gateway for Middle Eastern petrodollar investments into the two great emerging markets of India and China.This book provides a timely examination of the issues confronting this US$300-US$500 billion market growing at 15%-20% per annum, with reviews of the different financial markets, be they capital (Sukuk), retail or wealth management. It further includes reviews from the various jurisdictions including Malaysia (the front-runner), Singapore (the regional financial hub), Brunei (an offshore Islamic market player) and the sleeping giant, Indonesia, as well as newly emerging participants such as Japan and the United States. Contributors, all well-known leading practitioners in their fields, range from lawyers, accountants, bankers and educators to policy advisors, and come from institutions such as CIMB, Kuwait Finance House, OCBC Bank and PricewaterhouseCoopers, among others.This book, the first of its kind, will be of great benefit to those seeking to better understand current developments and issues affecting Islamic banking in South East Asia, from both global and regional perspectives.Table of ContentsIslamic Banking and Finance in South East Asia - An Economic Phenomenon or a Socio-Political Development? (A M Venardos); Legal and Regulatory Issues Concerning Islamic Banking's Development in Singapore (A Selvam); Brunei: A Niche Money Market for Offshore Islamic Finance (K A Khairuddin); Legal and Regulatory Issues Concerning Islamic Banking's Development in Malaysia (N N Thani); The Islamic Retail Experience in Malaysia (Y Junus); Windows of Opportunity for Islamic Banking and Finance in South East Asia (S Younis); Growth and Trends in Islamic Capital Markets (B A Ghani); Japanese Interest in Islamic Banking in South East Asia (T Maeda); USA and South East Asia: Islamic Banking and Finance Development Opportunities (M Kuo); Current Issues in Implementing Islamic Finance within the International Financial Reporting Standards (M F Azmi); Has Islamic Banking Reached the Tipping Point? (F Alshowaikh); and other papers.

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Book SynopsisThe Great Financial Crisis of 2007-2010 has had a major impact on large cross-border banks, which are widely blamed for the start and severity of the crisis. As a result, much public policy, both in the United States and elsewhere, has been directed at making these banks safer and less influential by reducing their size and permissible powers through increased government regulation.At the Federal Reserve Bank of Chicago's 18th annual International Banking Conference, held in November 2015, the status of these large cross-border banks was critically evaluated. In collaboration with the World Bank, the conference held discussions on the current regulatory landscape for large and internationally active financial institutions; the impact of regulation on bank permissible activities and international trade; improvements in risk management; necessary repairs to the bank safety net; the resolution of insolvent banks operating across national borders; corporate governance for banks in the new environment; implications for market and government discipline; and, progress in achieving international cooperation.Contributors include international policymakers, practitioners, researchers, and academics from more than 30 countries. The papers from the conference are collected in this volume.

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Book SynopsisThis book addresses selected practical applications and recent developments in the areas of quantitative financial modeling in derivatives instruments, some of which are from the authors' own research and practice. It is written from the viewpoint of financial engineers or practitioners, and, as such, it puts more emphasis on the practical applications of financial mathematics in the real market than the mathematics itself with precise (and tedious) technical conditions. It attempts to combine economic insights with mathematics and modeling so as to help the reader to develop intuitions.Among the modeling and the numerical techniques presented are the practical applications of the martingale theories, such as martingale model factory and martingale resampling and interpolation. In addition, the book addresses the counterparty credit risk modeling, pricing, and arbitraging strategies from the perspective of a front office functionality and a revenue center (rather than merely a risk management functionality), which are relatively recent developments and are of increasing importance. It also discusses various trading structuring strategies and touches upon some popular credit/IR/FX hybrid products, such as PRDC, TARN, Snowballs, Snowbears, CCDS, and credit extinguishers.While the primary scope of this book is the fixed-income market (with further focus on the interest rate market), many of the methodologies presented also apply to other financial markets, such as the credit, equity, foreign exchange, and commodity markets.

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Book SynopsisCVA, DVA, and FVA, which are the acronyms for credit, debit, and funding valuation adjustments, have become widely used by major banks since the financial crisis. This book aims to bridge the gap between the highly complex and mathematical models used by these banks to adjust the value of debt securities and interest rate derivatives, and the end users of the valuations, for example, accountants, auditors, and analysts. The book, which is essentially a tutorial, demonstrates the types of models that are used using binomial trees that are featured in the CFA® fixed income curriculum and allows readers to replicate the examples using a spreadsheet.

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Book SynopsisThe Great Financial Crisis of 2007-2010 exposed the existence of significant imperfections in the financial regulatory framework that encouraged excessive risk-taking and increased system vulnerabilities. The resulting high cost of the crisis in terms of lost aggregate income and wealth, and increased unemployment has reinforced the need to improve financial stability within and across countries via changes in traditional microprudential regulation, as well as the introduction of new macroprudential regulations. Amongst the questions raised are:

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Book SynopsisCVA, DVA, and FVA, which are the acronyms for credit, debit, and funding valuation adjustments, have become widely used by major banks since the financial crisis. This book aims to bridge the gap between the highly complex and mathematical models used by these banks to adjust the value of debt securities and interest rate derivatives, and the end users of the valuations, for example, accountants, auditors, and analysts. The book, which is essentially a tutorial, demonstrates the types of models that are used using binomial trees that are featured in the CFA® fixed income curriculum and allows readers to replicate the examples using a spreadsheet.

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Book SynopsisThis book provides a comprehensive treatment of the important aspects of investment theory, security analysis, and portfolio selection, with a quantitative emphasis not to be found in most other investment texts.The statistical analysis framework of markets and institutions in the book meets the need for advanced undergraduates and graduate students in quantitative disciplines, who wish to apply their craft to the world of investments. In addition, entrepreneurs will find the volume to be especially useful. It also contains a clearly detailed explanation of many recent developments in portfolio and capital market theory as well as a thorough procedural discussion of security analysis. Professionals preparing for the CPA, CFA, and or CFP examinations will also benefit from a close scrutiny of the many problems following each chapter.The level of difficulty progresses through the textbook with more advanced treatment appearing in the latter sections of each chapter, and the last chapters of the volume.

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Book SynopsisThis book provides a comprehensive treatment of the important aspects of investment theory, security analysis, and portfolio selection, with a quantitative emphasis not to be found in most other investment texts.The statistical analysis framework of markets and institutions in the book meets the need for advanced undergraduates and graduate students in quantitative disciplines, who wish to apply their craft to the world of investments. In addition, entrepreneurs will find the volume to be especially useful. It also contains a clearly detailed explanation of many recent developments in portfolio and capital market theory as well as a thorough procedural discussion of security analysis. Professionals preparing for the CPA, CFA, and or CFP examinations will also benefit from a close scrutiny of the many problems following each chapter.The level of difficulty progresses through the textbook with more advanced treatment appearing in the latter sections of each chapter, and the last chapters of the volume.

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Book SynopsisFinancial Mathematics for Actuaries is a textbook for students in actuarial science, quantitative finance, financial engineering and quantitative risk management and is designed for a one-semester undergraduate course.Covering the theories of interest rates, with applications to the evaluation of cash flows, the pricing of fixed income securities and the management of bonds, this textbook also contains numerous examples and exercises and extensive coverage of various Excel functions for financial calculation. Discussions are linked to real financial market data, such as historical term structure, and traded financial securities.The topics discussed in this book are essential for actuarial science students. They are also useful for students in financial markets, investments and quantitative finance. Students preparing for examinations in financial mathematics with various professional actuarial bodies will also find this book useful for self-study.In this second edition, the recent additions in the learning objectives of the Society of Actuaries Exam FM have been covered.

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Book SynopsisFinancial Mathematics for Actuaries is a textbook for students in actuarial science, quantitative finance, financial engineering and quantitative risk management and is designed for a one-semester undergraduate course.Covering the theories of interest rates, with applications to the evaluation of cash flows, the pricing of fixed income securities and the management of bonds, this textbook also contains numerous examples and exercises and extensive coverage of various Excel functions for financial calculation. Discussions are linked to real financial market data, such as historical term structure, and traded financial securities.The topics discussed in this book are essential for actuarial science students. They are also useful for students in financial markets, investments and quantitative finance. Students preparing for examinations in financial mathematics with various professional actuarial bodies will also find this book useful for self-study.In this second edition, the recent additions in the learning objectives of the Society of Actuaries Exam FM have been covered.

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Book SynopsisFor nearly two decades, countless non-profits in the U.S. were forced to pay big banks enormous sums of money to settle or terminate bilateral contracts known as Interest Rate Swaps (IRSs). Officials at non-profits had entered into these costly contracts unaware that each contract has only one winner, and that big banks did not intend to be the losers.The effects of such monetary transfers have been catastrophic. Money-strapped non-profits had to dismiss schoolteachers, shut off water supply to thousands of poor households, and downsize many other essential public services. Local and state governments, public school districts, universities, hospitals and transit authorities from New York to Los Angeles have been among the largest hit.This book presents selected cases and highlights the lack of evidence that decision makers at non-profits had fully understood the terms and complexities of IRSs. The evident unequal bargaining power thus gives rise to the high likelihood of unconscionable contracting. Additionally, for terminating these contracts, big banks collected huge sums of money for services that had not been, and will never be, rendered. Accordingly, questions arise as to whether these termination payments are tantamount to unjust enrichment.Related Link(s)

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Book SynopsisThis timely collection of papers probes into the major issues that are at the heart of our current financial market crises. The coverage of banking topics include the changing nature of intra and inter-bank markets, bank lending behavior, risk and risk-taking, the role of liquidity, return and maturity transformation issues. Issues on international financial market volatility and spillover effects are analyzed in detail, and intense discussions on capital adequacy and regulation in banking, and the potential role of banks' activities in the triggering of financial crises provide forward-looking insights.This volume will offer readers current and innovative approaches to assessing extant issues in banking and financial markets. In particular, it provides new ideas about the role of corporate governance institutions as signaling devices in exercising regulatory authority and protection of the shareholders' rights. What this volume covers in breadth, it also delves in depth with critical analyses and commentaries on the possible role of bank lending in triggering international crises, value creation in international joint ventures and the pricing of risk in international financial markets.Table of ContentsBanking and International Finance: Effects of International Interbank Lendings on Twin Crises; Ex Ante Versus Ex Post Regulation of Bank Capital; Value-at-Risk Disclosures and the Implications on Bank Stakeholders; Asymmetry in the Market Price of Risk: Evidence From Latin America; Maturity Transformation Strategies and Interest Rate Risk of Financial Institutions: Evidence from the German Market; Country-of-Origin Determinants of Value Creation in International Joint Ventures: A Comparison of Hong Kong and US Investments in China; International Transmission Effects of Volatility between Financial Markets in the G-7 since the Introduction of the Euro; Corporate Finance and Investments: Managing the Costs of Issuing Common Equity: The Role of Registration Choice; Corporate Governance Institutions as Signaling and Commitment Devices; The Impact of Arrangers and Buyout Sponsors on Loan Pricing in LBOs: A Cross Border Study; Ownership Control and Valuation Changes For Earnings Announcements Around US Cross Listings By Canadian Firms; Asymmetric Impact of News on Stock Return Volatility; Analysis of the Investment Potential and Inflation-Hedging Ability of Precious Metals; Corporate Governance and Ownership Structure in Emerging Markets: Evidence from Latin America.

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Book SynopsisIslamic Banking and Finance in South-East Asia by Angelo M Venardos has been a “must read” since its first edition in 2005 and has already been translated to Arabic.Now in its 3rd edition, the book offers important updates you can look forward to, starting with the foundations of Islamic banking, developments and issues. The reader is then treated to a timely survey of Islamic banking in five South-east Asian countries. Most of these chapters have been completely revamped from the last edition. One additional chapter has been added on Islamic Succession Planning, which introduces an increasingly essential aspect of Muslim life — that of managing one's wealth now and in the afterlife.Whether you are new to the topic or a practitioner in the industry, you will appreciate the accessible way in which the book is written. According to the Asian Journal of Comparative Law, the book gives a broad overview yet “manages to achieve this in a rather slim volume while providing depth of analysis at the same time”.Table of ContentsIslamic History; Shari'ah Law and Islamic Jurisprudence; Islamic Commerical Law; Islamic Financial Products; Issues and Challenges of Islamic Banking Today; Islam in South-East Asia; Colonial Legacies: Islam and State Law in South-East Asia; Islamic Banking in Malaysia; Islamic Banking in Indonesia; Labuan: A Niche in the Islamic Money Market; Islamic Banking in Brunei; Banking in Singapore.

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Book SynopsisThe two most topical issues in current financial markets deal with the causes of the recent financial crisis and the means to prevent future crises. This book addresses the latter and stresses a major shift in most countries toward a better understanding of financial stability and how it can be achieved. In particular, the papers in this volume examine the recent change in emphasis at central banks with regard to financial stability. For example: What were the cross-country differences in emphasis on financial stability in the past? Did these differences appear to affect the extent of the adverse impact of the financial crisis on individual countries? What are perceived to be the major future threats to financial stability? These and related issues are discussed in the book by well-known experts in the field — some of the best minds in the world pursuing financial stability. Following the global financial crisis, significant reforms have been initiated in many countries to address financial stability more directly, frequently focusing on macroprudential policy frameworks in which central banks play a more active role.Table of ContentsSpecial Addresses: The (Changing) Role of Central Banks in Financial Stability Policies (Peter Praet); The Role of Central Banks in Financial Stability: How Has It Changed? (Willem H Buiter); Pursuing Financial Stability at the Federal Reserve (Janet L Yellen); The Role of Central Banks in Financial Stability: Historical Review and Critique: Financial Stability: Lessons Learned from the Recent Crisis and Implications for the Federal Reserve (Nellie Liang); Role of Central Banks in Financial Stability: Lessons from the Experience of the Bank of Japan (Takeo Hoshi); Overcoming the Fear of Free Falling: Monetary Policy Graduation in Emerging Markets (Carlos A Vegh and Guillermo Vuletin); Can We Identify the Financial Cycle? (Mathias Drehmann, Claudio Borio and Kostas Tsatsaronis); Central Banks and Asset Price Bubbles: Low Interest Rates and Housing Bubbles: Still No Smoking Gun (Kenneth N Kuttner); Classic FIT and Lean FIT: Is Inflation-Targeting Guilty of Causing the Financial Instability of 2007 - 2009? (Takatoshi Ito); Current, Past, and Potential Future Threats to Financial Stability: Bank Capital Regulations: Learning the Right Lessons from the Crisis (Asli Demirguc-Kunt); International Monetary Reform: Exchange Rates or Interest Rates? (Ronald McKinnon); Threats to Financial Stability in Emerging Markets: The New and Very Active Role of Central Banks (Liliana Rojas-Suarez); The Social Productivity of the Financial Sector: In Defense of Wall Street: The Social Productivity of the Financial System (Ross Levine); Output Growth Variability: The Role of Financial Markets (Alexander Popov); Occupying the Wrong Street? The Social Productivity of the Financial Sector: Some Comments (Gerard Caprio, Jr.); Open Issues in the Regulatory Debate: Failure Resolutions, Bailouts, Moral Hazard, and Market Discipline: Bankers and Brokers First: Loose Ends in the Theory of Central Bank Policymaking (Edward J Kane); The Elusive Scale Economies of the Largest Banks and Their Implications for Global Competitiveness (Joseph P Hughes); The Ex Ante versus Ex Post Effect of Public Guarantees (Evren Damar, Reint Gropp and Adi Mordel); Real and Imaginary Resolution Options for Large Financial Institutions (David A Skeel, Jr.); Policy Panel: Where to from Here?: Is Our Economy's Financial Sector Worth What It Costs Us? (Benjamin M Friedman); The Eurozone Crisis: Causes, Remedy, and Misperceptions (Richard C Koo); Macroprudential and Monetary Policies (Frederic S Mishkin); The Eurozone Crisis (Richard Portes); The Way Forward - Central Banks with Financial Stability Mandates: The Case of the Eurosystem (Anne Sibert).

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Book SynopsisAs a government institution specializing in development-oriented finance, the China Development Bank (CDB) has combined advanced international financial theories with China's practical conditions and has done remarkably well in removing financing bottlenecks, establishing market credit systems, and ensuring faster and better economic and social development. Its practice and theory in development-oriented finance represent a major distinctive feature of China's socialist market economy.Written in the setting of great history, great changes and great challenges, this book contains a systematic study of the theory and practice of development-oriented finance that has evolved along with China's reform and opening up. It provides an in-depth analysis of the ideological basis, theoretical contents, operating principles and innovative development of China's financial system.China's Rise: Development-Oriented Finance and Sustainable Development will promote further discussions and researches on China's modern economic and financial systems and in turn the sustainable development of the Chinese economy and the world economy at large.

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Book SynopsisGenerally thought to be an under-regulated sector, the shadow banking system has been identified as having a significant role in the recent global financial crisis. In recent years, it has also been growing rapidly in emerging markets. Yet, little is known about its size, scope and operations; nor its benefits and costs to society. Shadow Banking Within and Across National Borders consists of a proceedings of a conference held at the Federal Reserve Bank of Chicago, in November 2013. Edited by Stijn Claessens, Douglas Evanoff, George Kaufman and Luc Laeven, this volume brings together leading industry scholars to examine various aspects of the shadow banking system. The contributors of this volume debate issues which include defining and quantifying shadow banking; the causes of the development of the sector; its role in the recent financial crisis; the implications for financial stability; the social benefits of the sector; the associated challenges for financial supervision and regulation; and alternative policy options to address problems created by the sector.

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Book SynopsisReforging the Central Bank presents an insightful comparison between financial development in China — a rising global economic superpower — under the old and new normal and an all-encapsulating study of current monetary transmission mechanism and monetary policy instruments. Focusing on the 'top-level design' for Chinese financial system and the reformation of People's Bank of China (PBoC), China's central bank, Dr Deng, head of the Fixed Income Research Department at CITIC Securities, and his team provide a deep analysis with useful suggestions and bold predictions for the central bank's new policy framework, new objectives, and new mechanisms in the future.As such, the carefully presented analysis of this book will be of value to researchers and curious readers who are interested in understanding of China's — a rising global economic superpower — future financial development environment.

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Book SynopsisA pioneering and comprehensive work, The Singapore Blue Chips puts the spotlight on 22 of Singapore's largest corporates. This is the first book that provides a quick snapshot of Singapore's large cap (large market capitalisation) corporates as investment propositions, and is a timely tribute to the nation's 50 years of independence and development.Written for finance professionals and students as well as readers with a general interest in business, investing and finance, each chapter of this book is dedicated to one company and delves into its attractiveness as an investment proposition, the associated investments risk and the company's prospects as of end-2016.Table of ContentsCurtain Raiser; Temasek Holdings; Agri-Business Companies: An Overview; Golden Agri Resources; Wilmar International; Olam International; Investing in Agri-Business Companies: Takeaways; The Banking Troika; The Singapore Exchange; Keppel Corporation; Fraser & Neave; Sembcorp Industries; ST Engineering; SIA Engineering Company; The Gaming Duopoly; CapitaLand; Global Logistic Properties; Singapore Telecoms: An Overview; StarHub; Singapore Telecommunications; Investing In Singapore Telecoms: Takeaways; ComfortDelgro; Singapore Airlines; Neptune Orient Lines; And The Curtains Fall ... For Now; Glossary; Bibliography;

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