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Global Bank Regulation: Principles and Policies covers the global regulation of financial institutions. It integrates theories, history, and policy debates, thereby providing a strategic approach to understanding global policy principles and banking. The book features definitions of the policy principles of capital regularization, the main justifications for prudent regulation of banks, the characteristics of tools used regulate firms that operate across all time zones, and a discussion regarding the 2007-2009 financial crises and the generation of international standards of financial institution regulation. The first four chapters of the book offer justification for the strict regulation of banks and discuss the importance of financial safety. The next chapters describe in greater detail the main policy networks and standard setting bodies responsible for policy development. They also provide information about bank licensing requirements, leading jurisdictions, and bank ownership and affiliations. The last three chapters of the book present a thorough examination of bank capital regulation, which is one of the most important areas in international banking. The text aims to provide information to all economics students, as well as non-experts and experts interested in the history, policy development, and theory of international banking regulation.
Academics and advanced-level students interested in the theory, history, and policy development of international banking regulation
Introduction: The Global Financial System and the Problems of Regulation
1. The Changing Nature of Banks
Money, Credit Creation, and Fractional Reserve Banking
Financial Innovation and the Changing Nature of Banks
Three Distinctive Features of Modern Banking
2. Panics, Bank Runs, and Coordination Problems
The Structure of Banks’ Balance Sheets
Coordination Problems and Bank Runs
Panic and Contagion in Modern Financial Systems
Free Riders and Regulation
3. Collapsing Dominos and Asset Price Spirals
Asset Price Spirals
The Global Financial Crisis of 2007–2009
4. The Financial Safety Net and Moral Hazard
The Financial Safety Net
Is There an Alternative?
5. Sources of Financial Regulation
6. Bank Licensing and Corporate Governance
The Purpose of Bank Licensing
The Fundamentals of Bank Licensing
Fitness and Propriety of Bank Management
Significant Changes in Ownership
Choice of Bank Charter
Principles of Sound Corporate Governance
Sarbanes-Oxley Act of 2002
7. Bank in Corporate Groups: Ownership and Affiliation
The Separation of Banking and Finance
Changes to Structural Regulation of the Combination of Banking and Other Financial Services
8. The Rationale for Bank Capital Regulation
Why Regulate Bank Capital?
Criticisms of the Basel Capital Accord
9. The New Capital Adequacy Framework: Basel II and Credit Risk
The Standardized Approach
The Internal Ratings-Based (IRB) Approaches
Dealing with Financial Innovation
10. The New Capital Adequacy Framework: Basel II and Other Risks
Pillar 2 Risks
11. Direct Limits on Banks’ Risk Taking
Credit Concentration Risk
12. Consolidated Supervision and Financial Conglomerates
What Is Consolidated Supervision?
The Need for Consolidated Supervision
Consolidated Supervision of Cross-Border Banks
13. Anti-Money Laundering
What Is Money Laundering?
The Impact on Banks
Banco Delta Asia Case Study
14. Bank Insolvency
The Goals and Types of Bank Insolvency Regimes
Legal Framework for Bank Insolvency
Determination of Insolvency
Administration Orders and Conservatorships
15. Institutional Structures of Regulation
Institutional and Functional Regulation
Rise of the Integrated Regulator
Twin Peaks (Objectives) Approach
Role of the Central Bank in Bank Supervision
Evaluation of Structural Reforms
16. Regulation After the Global Financial Crisis
The Causes of the Crisis
Rethinking the Assumptions of Regulation
New Directions in Capital Adequacy
More Radical Options
The International Dimension
Appendix: Introduction to Regulation and Market Failure
- No. of pages:
- © Academic Press 2009
- 22nd October 2009
- Academic Press
- Hardcover ISBN:
- eBook ISBN:
Columbus School of Law, The Catholic University of America, Washington D.C.
International Monetary Fund
"This wide-ranging and authoritative book, written by two distinguished analysts of financial regulation, is a compelling read and of great value to regulators, financial practitioners and students alike. It is an excellent tour de force of the key issues in bank regulation which is set in a strong analytical framework. In the light of the global financial crisis, it makes a compelling case for an internationally coordinated approach to bank regulation."--David T. Llewellyn, Loughborough University
"A fascinating and erudite introduction to the policies underlying bank supervision and the complexities of implementing those policies in an international environment based on national regulatory systems. Schooner and Taylor are among the world’s leading experts on banking regulation and their text will be an invaluable resource to students and practitioners for years to come." --Howell E. Jackson, Harvard Law School
"Heidi Schooner and Michael Taylor have produced a work of the highest quality which is balanced and focused with the right amount of detail. considerable thought has obviously been given to design and structure. All relevant topics received expert attention." "This book will become the leading point of reference for those who need to understand bank regulation within the global context. I am happy to fully recommend it without hesitation." -- Andrew Campbell, School of Law, University of Leeds. Full review - Journal of International Banking Law and Regulation, Volume 26, Issue 3, 2011.
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