The Perils Of International Regime Complexity In Shadow Banking
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The Perils Of International Regime Complexity In Shadow Banking
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Author : Lucia Quaglia
language : en
Publisher: Oxford University Press
Release Date : 2022
The Perils Of International Regime Complexity In Shadow Banking written by Lucia Quaglia and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022 with Business & Economics categories.
This book examines the notably low-level of international governance relating to shadow banking - that is, lenders, brokers, and other credit intermediaries who fall outside the realm of traditional regulated banking.
The Perils Of International Regime Complexity In Shadow Banking
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Author : Lucia Quaglia
language : en
Publisher:
Release Date : 2022
The Perils Of International Regime Complexity In Shadow Banking written by Lucia Quaglia and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022 with Financial institutions, International categories.
Despite the role of shadow banking in the building up of the 2008 international financial crisis, the massive size of this sector, its cross-border nature, and the risks it entails for financial stability, the post-crisis regulation of shadow banking has remained rather feeble. Why? This book identifies a 'game of shadows', which unfolded recursively concerning the definition, monitoring, and regulation of shadow banking internationally. Thus, states, regulators, and private actors tended to cast light away from various parts of the shadow banking system-shadow banking was (re)fined over time, its measurement was narrowed down, lessening the (perceived) need for regulation. The playing out of such a game was facilitated by the international architecture for shadow banking governance, which is a 'regime complex' characterized by the presence of multiple institutions and elemental regimes governing a set of related issues. Indeed, shadow banking is a quintessential case for demonstrating the perils of international regime complexity, which magnifies problems that are endemic in governing global finance-namely, interstate competition, disagreement between technocratic bodies, and the power of the financial industry-while splintering solutions, due to the fragmentation of regulatory authority. Empirically, this book examines various elemental regimes concerning different aspects of shadow banking, namely: international standards for defining, measuring, and monitoring global shadow banking; international standards for shadow banking entities, including money market funds, hedge funds, and investment funds; international standards for shadow banking activities, such as securitization, securities lending, and repos; international standards for bank capital exposures to shadow banking.
European Integration And The Global Financial Crisis
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Author : Michele Di Donato
language : en
Publisher: Springer Nature
Release Date : 2022-12-12
European Integration And The Global Financial Crisis written by Michele Di Donato and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-12-12 with History categories.
Offering a fresh take on a crucial phase of European history, this book explores the years between the 1980s and 1990s when the European Union took shape. Whilst contributing to existing literature on the Maastricht Treaty and European integration at the end of the twentieth century, the book also brings those debates into the twenty-first century and makes connections with longer-term issues. The transformation of the European political climate in the wake of the global financial crisis in 2008, and the watershed Brexit vote in 2016, has made it all the more urgent to reconsider the way scholars and opinion-makers have looked at European integration in the past. Drawing from recently released archival documents, the authors analyse European cooperation as part of the broader international history in which it unfolded, taking into account the changes in the Cold War order and the advance of a new phase of globalisation. Comparing and contrasting the debates, objectives and achievements of the 1980s and 1990s with the current political landscape of the European Union, this book proposes a novel interpretation of the choices that were made during the Maastricht years, and of their longer-term consequences.
The Politics Of Regime Complexity In International Derivatives Regulation
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Author : Lucia Quaglia
language : en
Publisher:
Release Date : 2020
The Politics Of Regime Complexity In International Derivatives Regulation written by Lucia Quaglia and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with Business & Economics categories.
This book examines the post-crisis international regulation of derivatives by bringing together the international relations literature on regime complexity and the international political economy literature on financial regulation.
The Law Of Securitisations
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Author : Pierre de Gioia Carabellese
language : en
Publisher: Taylor & Francis
Release Date : 2023-03-31
The Law Of Securitisations written by Pierre de Gioia Carabellese and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-03-31 with Law categories.
The book The Law of Securitisations: From Crises to Techno-sustainability provides a full and detailed account of the EU legislation in the area of structured finance with the new legal rules dissected and discussed in their full extent. Securitisation transactions have been identified in the literature among the main reasons for the 2007–2008 financial crisis, alongside derivative contracts. More than a decade later, the EU legislature passed in 2017 a legal framework comprehensively disciplining the area of securitisations in the EU. On such a background the main purpose of the book is to discuss and analyse, in a holistic way, both the rationale behind the securitisations as financial transactions and their main players (e.g. originators, SPVs and credit rating agencies) and their "ESG" (Environmental, Social and Governance) challenges, particularly the recent regulation passed in the EU during the 2020–2021 global pandemic. The goal of this legal analysis is to identify and clarify the entire legal process of securitisations, as a result of the new EU legislation, as well as duties, responsibilities and practices incumbent on the main players. Furthermore, the monograph is also concerned with the new challenges facing financial markets and their regulation: the new concept of sustainability and the development of technology. In this scenario, there is a blend of financial issues, new environmental challenges and, ultimately, the role human beings are expected to play, also from a social justice perspective. Adopting not just doctrinal methodology but also comparative (from a private law perspective) and interdisciplinary (regulatory and law and economics), the authors also include a discussion of the main literature which has blossomed over the last two decades on structured finance transactions, particularly the literature that unveiled, a decade ago, the concept of shadow banking. This book will be one of the first to focus on the new EU Securitisation Regulation and will be of interest to academics, students and practitioners of financial law.
Microfinance And Financial Inclusion
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Author : Eugenia Macchiavello
language : en
Publisher: Routledge
Release Date : 2017-07-20
Microfinance And Financial Inclusion written by Eugenia Macchiavello and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-07-20 with Business & Economics categories.
Following the recent global financial crisis there is a growing interest in alternative finance – and microfinance in particular – as new instruments for providing financial services in a socially responsible way or as an alternative to traditional banking. Nonetheless, correspondingly there is also a lack of clarity about how to regulate alternative financial methods particularly in light of the financial crisis’ lessons on regulatory failure and shadow banking’s risks. This book considers microfinance from a legal and regulatory perspective. Microfinance is the provision of a wide range of financial services, particularly credit but also remittances, savings, to low-income people or financially excluded people. It combines a business structure with social inspiration, often resorts to technological innovations to lower costs (Fintech: e.g. crowdfunding and mobile banking) and merges with traditional local experiences (e.g. financial cooperatives and Islamic finance), this further complicating the regulatory picture. The book describes some of the unique dimensions of microfinance and the difficulties that this can cause for regulators, through a comparative analysis of selected European Union (EU) countries’ regimes. The focus is in fact on the EU legal framework, with some references to certain developing world experiences where relevant. The book assesses the impact and validity of current financial regulation principles and rules, in light of the most recent developments and trends in financial regulation in the wake of the financial crisis and compares microfinance with traditional banking. The book puts forward policy recommendations for regulators and policy makers to help address the challenges and opportunities offered by microfinance.
Banking Supervision And Regulation
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Author : Great Britain: Parliament: House of Lords: Select Committee on Economic Affairs
language : en
Publisher: The Stationery Office
Release Date : 2009-06-02
Banking Supervision And Regulation written by Great Britain: Parliament: House of Lords: Select Committee on Economic Affairs and has been published by The Stationery Office this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-06-02 with Business & Economics categories.
2007 and 2008 saw the biggest financial crisis since the 1930s. Banks looking for better yields from plentiful, cheap money made much more use of complex financial instruments, without fully understanding the risks to which they were exposing themselves and the financial system. Defaults on subprime mortgages underlying some of the instruments shattered confidence and financial markets seized up. The framework of regulation and supervision in Britain failed to avoid or mitigate the crisis. The tripartite authorities in the United Kingdom - Bank of England, Financial Services Authority (FSA) and HM Treasury - failed to maintain financial stability and were found wanting, in part because the roles of the three parties were not well enough defined and it was not clear who was in charge. Too little attention was paid to macro-prudential supervision (oversight of the aggregate impact on financial stability of individual banks' actions). Only the Bank of England and the
Global Financial Networked Governance
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Author : Peter Knaack
language : en
Publisher: Taylor & Francis
Release Date : 2022-12-30
Global Financial Networked Governance written by Peter Knaack and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-12-30 with Political Science categories.
Global Financial Networked Governance provides a careful analysis of the Financial Stability Board (FSB) and the standard-setters under its umbrella to show how such government networks harness the power of public reputation to herd their members into compliance. The FSB’s track record in coordinating global financial regulatory reform is uneven. Some items on its agenda have seen the rapid evolution of globally coordinated regulatory standards and their implementation by all member states, sometimes even ahead of the stipulated timelines. In contrast, other initiatives have stalled at different stages of the policymaking process, global coordination is lacking, deadlines have been missed, and it is currently unclear when the post-crisis financial reform project will come to completion, if ever. In this book, the author asks the question: why has the FSB succeeded in some areas of its global financial regulatory coordination work and not in others? The book traces the global policymaking process in three major issue areas: banking regulation (Basel III), over-the-counter (OTC) derivatives, and ending too-big-to-fail. Through a combination of careful process tracing and rigorous testing against alternative explanations, it challenges the existing literature by revealing that the institutional pathway of policymaking is the main predictor of FSB progress. It shows that government networks on their own have succeeded in implementing globally coherent safety standards. In contrast, legislation and legislators in key G20 countries have limited the power and effectiveness of the FSB. The author analyzes the causes and effects of this phenomenon and suggests a novel institutional solution to the effectiveness-legitimacy dilemma that global governance forums face, combining the advantages of functional specialization and electoral accountability. This book will be of great interest to graduate students; academics working at the intersection of economics, political science, and international law; students of the FSB in particular; and policymakers in global economic governance.
Operational Risk Management In Banks And Idiosyncratic Loss Theory
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Author : Sophia Beckett Velez
language : en
Publisher: Emerald Group Publishing
Release Date : 2022-12-07
Operational Risk Management In Banks And Idiosyncratic Loss Theory written by Sophia Beckett Velez and has been published by Emerald Group Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-12-07 with Business & Economics categories.
Operational Risk Management in Banks and Idiosyncratic Loss Theory: A Leadership Perspective offers consensus considerations that could bolster effective risk management practices in enterprise-wide risk, thereby helping to control fraud and go beyond the minimum risk assessment requirements set forth by the banking regulators.
The Political Economy Of Bank Regulation In Developing Countries Risk And Reputation
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Author : Emily Jones
language : en
Publisher: Oxford University Press
Release Date : 2020-03-12
The Political Economy Of Bank Regulation In Developing Countries Risk And Reputation written by Emily Jones and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-03-12 with Political Science categories.
This is an open access title available under the terms of a CC BY-NC-ND 4.0 International licence. It is free to read at Oxford Scholarship Online and offered as a free PDF download from OUP and selected open access locations. International banking standards are intended for the regulation of large, complex, risk-taking international banks with trillions of dollars in assets and operations across the globe. Yet they are being implemented in countries with nascent financial markets and small banks that have yet to venture into international markets. Why is this? The Political Economy of Bank Regulation in Developing Countries: Risk and Reputation explores the politics of banking regulation in eleven countries across Africa, Asia, and Latin America. It shows how financial globalization generates strong reputational and competitive incentives for developing countries to converge on international standards. Politicians, regulators, and large banks in developing countries implement international standards to attract international investment, bolster their professional standing, and further integrate their countries into global finance. Convergence is not inevitable or uniform: implementation is often contested and regulators adapt international standards to the local context. This book contributes to our understanding of the ways in which governments and firms in the core of global finance powerfully shape regulatory decisions in the periphery, and the ways that governments and firms from peripheral developing countries manoeuvre within the constraints and opportunities created by financial globalization.