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Are recent bank and financial scandals the work of a few `bad apples' or an inevitable result of a financial system rotten to its core? In Barometer of Fear Alexis Stenfors guides us through the shadowy world of modern banking, providing an insider's account of the secret practices - including the manipulation of foreign exchange rates - which have allowed banks to profit from systematic deception. Containing remarkable and often shocking insights derived from his own experiences in the dealing room, as well as his spectacular fall from grace at Merrill Lynch, Barometer of Fear draws back the curtain on a realm that for too long has remained hidden from public view.
Why is the South African banking industry regarded as one of the best in the world? How is it structured? How did it avoid collapse during the global financial crisis of 2007-2009? Bank Management in South Africa: A risk-based perspective is the first textbook for the South African market to answer these questions. It provides a comprehensive overview of the way banks and their financial risks are managed. The book is divided into five parts: Part One introduces the business of banking by discussing the evolution of financial intermediation theory; Part Two deals with the structure, history, performance and regulatory environment of the South African banking industry; Part Three considers how banks report and measure their performance; Part Four focuses on how banks identify, quantify and manage financial risks; Part Five deals with the management of the asset book, liability book and, importantly, the capital adequacy requirements set by the Basel Committee on Banking Supervision.
An accessible, comprehensive analysis of the main principles and rules of banking regulation in the post-crisis regulatory reform era, this textbook looks at banking regulation from an inter-disciplinary perspective across law, economics, finance, management and policy studies. It provides detailed coverage of the most recent international, European and UK bank regulatory and policy developments, including Basel IV, structural regulation, bank resolution and Brexit, and considers the impact on bank governance, compliance, risk management and strategy.
The global financial crisis in 2008 brought central banking to the centre stage, prompting questions about the role of national central banks and - in Europe - of the multi-country European Central Bank. What can central banks do, and what are their limitations? How have they performed? Currency, Credit and Crisis seeks to provide a coherent perspective on the functions of a central bank in a small country by assessing the way in which Ireland's financial crisis from 2010 to 2013 was handled. Drawing on his experiences as Governor of the Central Bank of Ireland and in research and policy work at the World Bank, Patrick Honohan offers a detailed analytical narrative of the origins of the crisis and of policy makers' conduct during its most fraught moments.
An incisive analysis of the state of the global economy and what the future holds. Surrounded by sluggish growth, high rates of unemployment, rising inequality, growing financial instability and increased social tensions, pessimism about our future abounds. Dr. Mohamed A. El-Erian, one of the world's most influential economic thinkers, explains lucidly the realities of the economic choices that we will soon face. The path that the global economy and markets are on is ending. But what comes thereafter is far from predestined. It critically depends on choices that we make as households and companies, and decisions that our political representatives take. The Only Game in Town details how the world is increasingly being shaken, both from above and from below. It illuminates the growing internal contradictions, the constraints that are undermining growth and prosperity, and the radical overhaul in thinking that is required. In the aftermath of the financial crisis, central banks were handed responsibility for the fate of the global economy. Lifting the veil on the inner workings of these powerful and innovative institutions, El-Erian explains why they cannot save us this time around. Laying out a road map for growth, The Only Game in Town shows how and why collaboration between central bankers, policymakers and business leaders is essential. Drawing on insights from behavioral science, economics and finance, this book provides the tools needed to understand the uncertainties that lie ahead and return us to a path of prosperity. Thought provoking and insightful, this book is required reading for investors, policymakers, and anyone interested in the future.
This lively book takes Oklahoma history into the world of Wild West
capitalism. It begins with a useful survey of banking from the
early days of the American republic until commercial patterns
coalesced in the East. It then follows the course of American
expansion westward, tracing the evolution of commerce and banking
in Oklahoma from their genesis to the eve of statehood in 1907.
The Law Of Banking And Payment In South Africa provides an explanation of some of the more important aspects of the law applicable to banks and banking in South Africa, along with the principles that govern payment and payment systems in this country.
The Law Of Banking And Payment In South Africa covers the following areas: a general introduction to banks and banking law; the nature of banking law and its sources; the role and function of the Reserve Bank and the various statutes that regulate banks; the bank–customer relationship; miscellaneous banking services provided by banks; general principles of payment; the law applicable to various payment systems; unauthorised cheque payments and unauthorised electronic funds transfers; international sale transactions; and bank guarantees.
The aim of the authors is to provide a text that is both accessible for students and other persons seeking to gain a basic understanding of the subject, and comprehensive enough to be useful to lawyers, bankers and those who work in the field of banking and finance.
Under the new Basle Guidelines, all financial institutions subject to local banking laws will soon be required to operate under dramatically different risk exposure rules. Risk Management and Capital Adequacy provides details on the key risk approaches under these new guidelines and is the first book to analyze if and how they can be integrated. From conceptual frameworks to analyses of models and approaches, it provides a solid reference source for the information that everyone in risk management will soon need to know.
Small 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.
PRAISE FOR Banking on Change "In this 140th Anniversary celebration book, The London Institute of Banking and Finance stick to their core function of educating us all, but especially aspirant bankers, on the role and concerns of (retail and commercial) banking in the UK. They have assembled a well-chosen group of practitioners from a range of professions to write clear and easily assimilable essays, no technical expertise required, on a wide variety of current banking issues. If you want to learn about the current practices and problems of UK retail banking, this book must be essential reading." --Charles Goodhart, emeritus professor of banking and finance at the London School of Economics "In this important book, a line from Bill Allen's contribution is key: 'Nobody can predict the ferocity of the gale of creative destruction' that faces the financial services sector. True; but if you read the many and varied contributions, you'll have a pretty good idea. Moreover, you'll understand how we (that is, bankers) got here - and what we should do to make the industry more competitive, fairer and more genuinely useful. It is a soup-to-nuts look at banking - from the early days of the Institute of Banking, through the go-go years of ifs, to a present and future that are likely to be dominated by technology. It is well-worth a long read." --Andrew Hilton, director, Centre for the Study of Financial Innovation "If you were to imagine what a book celebrating 140 years of financial knowledge might contain, you could not come up with a better selection than this. As well as a historic sweep - from no-tech to fintech, the decline of trust and the rise of competition - today's hot subjects are addressed, including sustainable investing, cultural diversity and digital identity. The cradle-to-grave nature of the industry is captured in pieces about financial education and pensions. And it's well written, setting the scene nicely for the next era." --Jane Fuller, Fellow of the Society of Investment Professionals Financial services are undergoing rapid, and potentially dramatic, change. What will happen in payments, in sustainable finance and in fintech? How can the industry boost financial inclusion and ensure that its workforce has the skills it needs to meet regulatory requirements and to compete with new entrants? Can trade finance rise to the challenge of underpinning global trade for all and help the developing world avoid "financial abandonment"? What do financial services need to do to protect our digital identities? Banking on Change provides insights by experts and influencers from across the financial services industry on these and other questions. Published to mark the 140th anniversary of The London Institute of Banking & Finance, this book is intended to be of lasting value to both students and professionals.
'A compelling guide for leaders grappling with the pandemic' Financial Times 'A remarkable book telling business leaders what to do when disaster strikes' The Times AN INSPIRING STORY OF RESILIENT LEADERSHIP IN THE TOUGHEST OF TIMES Louai Al Roumani was head of finance and planning at one of the largest banks in Syria, when the war broke out in 2011. In Lessons from a Warzone, Al Roumani shares his very personal account of coping with the day-to-day realities of leading an organization in dangerous and hostile conditions. His story shows how inspiration can come from the unlikeliest of places - from the timeless wisdom of merchants in ancient souks to the changing patterns of military checkpoints. During that time, not only did the bank remain robust when others faltered - it thrived and became the undisputed leading bank as people's trust in its capability to safeguard their life-long savings strengthened. In this book, Al Roumani distils the knowledge and skills he and his colleagues developed while steering the bank through four impossible years into ten lessons applicable to any leader facing a crisis today. His valuable, and often counterintuitive, advice - ranging from resisting over-planning to hacking your own IT department to cutting costs (but not morale) - will help anyone understand how to be resilient even in the most challenging of times.
SHORTLISTED FOR THE FT AND MCKINSEY BUSINESS BOOK OF THE YEAR AWARD 2019 NEW YORK TIMES AND SUNDAY TIMES BUSINESS BESTSELLER 'Reads more like a delicious page-turning novel...Put it on your holiday gift list for your favourite hedge-fund honcho' Bloomberg 'A compelling read' Economist 'Captivating' New York Times book review Jim Simons is the greatest moneymaker in modern financial history. His record bests those of legendary investors, including Warren Buffett, George Soros and Ray Dalio. Yet Simons and his strategies are shrouded in mystery. The financial industry has long craved a look inside Simons's secretive hedge fund, Renaissance Technologies and veteran Wall Street Journal reporter Gregory Zuckerman delivers the goods. After a legendary career as a mathematician and a stint breaking Soviet codes, Simons set out to conquer financial markets with a radical approach. Simons hired physicists, mathematicians and computer scientists - most of whom knew little about finance - to amass piles of data and build algorithms hunting for the deeply hidden patterns in global markets. Experts scoffed, but Simons and his colleagues became some of the richest in the world, their strategy of creating mathematical models and crunching data embraced by almost every industry today. As Renaissance became a major player in the financial world, its executives began exerting influence on other areas. Simons became a major force in scientific research, education and Democratic politics, funding Hilary Clinton's presidential campaign. While senior executive Robert Mercer is more responsible than anyone else for the Trump presidency - he placed Steve Bannon in the campaign, funded Trump's victorious 2016 effort and backed alt-right publication Breitbart. Mercer also impacted the success of the Brexit campaign as he made significant investments in Cambridge Anatlytica. For all his prescience, Simons failed to anticipate how Mercer's activity would impact his firm and the world. In this fast-paced narrative, Zuckerman examines how Simons launched a quantitative revolution on Wall Street, and reveals the impact that Simons, the quiet billionaire king of the quants, has had on worlds well beyond finance.
Humans invented money from nothing, so why can't we live without it? And why does no one understand what it really is? In this lively tour through the centuries, Jacob Goldstein charts the story of this paradoxical commodity, exploring where money came from, why it matters and whether bitcoin will still exist in twenty years. Full of interesting stories and quirky facts - from the islanders who used huge stones as a means of exchange to the merits of universal basic income - this is an indispensable handbook for anyone curious about how money came to make the world go round.
Born out of crisis a century ago, the Federal Reserve has become the most powerful macroeconomic policymaker and financial regulator in the world. The Myth of Independence traces the Fed's transformation from a weak, secretive, and decentralized institution in 1913 to a remarkably transparent central bank a century later. Offering a unique account of Congress's role in steering this evolution, Sarah Binder and Mark Spindel explore the Fed's past, present, and future and challenge the myth of its independence. Binder and Spindel argue that recurring cycles of crisis, blame, and reform propelled lawmakers to create and revamp the powers and governance of the Fed at critical junctures, including the Panic of 1907, the Great Depression, the postwar Treasury-Fed Accord, the inflationary episode of the 1970s, and the recent financial crisis. Marshaling archival sources, interviews, and statistical analyses, the authors pinpoint political and economic dynamics that shaped interactions between the legislature and the Fed, and that have generated a far stronger central bank than anticipated at its founding. The Fed today retains its unique federal style, diluting the ability of lawmakers and the president to completely centralize control of monetary policy. In the long wake of the financial crisis, with economic prospects decidedly subpar, partisan rivals in Congress seem poised to continue battling over the Fed's statutory mandates and the powers given to achieve them. Examining the interdependent relationship between America's Congress and its central bank, The Myth of Independence presents critical insights about the future of monetary and fiscal policies that drive the nation's economy.
This comprehensive, hands-on guide is the go-to source for everything you need to confidently navigate the ever-changing scene of this booming industry. FinTech For Dummies will shed light on this rapidly changing landscape making it an invaluable source of information for anybody working in or interested in this space. This book provides insights, knowledge and guidance from industry experts Steve O'Hanlan and Susanne Chishti on the following: Gaining insight fastest growing market segment of the financial markets Learning the core decision making to effect a growth plan Securing knowledge of the fastest growing fintech companies in the world Navigating the fintech world The ingredients into building a FinTech company
Previous editions of Robert Z. Aliber's "The New International
Money Game" have been widely acclaimed as the best and most
entertaining introduction to the arcane enigmas of international
finance. Since its original publication, the book has become a
classic primer for beginning students, businesspersons, and anyone
interested in a clear explanation of international monetary and
This book is a one-stop-shop reference for risk management practitioners involved in the validation of risk models. It is a comprehensive manual about the tools, techniques and processes to be followed, focused on all the models that are relevant in the capital requirements and supervisory review of large international banks.
Choose the best speak-up arrangements for your organisation The last five years have seen dramatic and fundamental changes in whistleblower procedures for organisations. Prompted by a spate of important public disclosures, organizations are now mandated by law to implement effective arrangements enabling employees to speak up about perceived wrongdoing. Currently few resources exist to help with this. To help fill the gap, The Whistleblowing Guide examines the opportunities and challenges associated with different types of whistleblowing and speak-up arrangements, making recommendations based on best practices you can trust. Identifies the major organisational, structural and cultural obstacles to speaking up through speak-up arrangements Proposes effective whistleblowing and speak-up arrangements Explains the specific policy and legislation requirements that can promote or impede the effective implementation of speak-up arrangements, and how these can be translated into commercial and public organizations across sectors and cultures Makes a clear distinction between internal and external reporting arrangements The Whistleblowing Guide offers conceptual clarification about these key issues, including a focus on internal and external speak-up procedures, organisational response and communication, impartiality and trust.
Chaudhuri pinpoints the evolving nature of US commercial banks and banking regulations and explores their impact on the economy.
Understand and interpret the global debt capital markets Now in a completely updated and expanded edition, this is a technical guide to the yield curve, a key indicator of the global capital markets and the understanding and accurate prediction of which is critical to all market participants. Being able to accurately and timely predict the shape and direction of the curve permits practitioners to consistently outperform the market. Analysing and Interpreting the Yield Curve, 2nd Edition describes what the yield curve is, explains what it tells participants, outlines the significance of certain shapes that the curve assumes and, most importantly, demonstrates what factors drive it and how it is modelled and used. Covers the FTP curve, the multi-currency curve, CSA, OIS-Libor and 3-curve models Gets you up to speed on the secured curve Describes application of theoretical versus market curve relative value trading Explains the concept of the risk-free rate Accessible demonstration of curve interpolation best-practice using cubic spline, Nelson-Siegel and Svensson 94 models This advanced text is essential reading for traders, asset managers, bankers and financial analysts, as well as graduate students in banking and finance.
A comprehensive and fully up-to-date introductory textbook to Islamic finance and banking Islamic finance and banking is being used increasingly globally -- especially in the regions of Middle East and North Africa, South East and South Asia. To cater to the need of trained Islamic finance staff, a large number of Educational institutions are beginning to offer courses, majors and minors in Islamic finance and banking. The major challenge faced by these institutions are suitable textbooks for both undergrad and post-grad levels and especially with the relevant instructor resources (PPTs, test bank, practice activities and answer keys). Luckily, Fundamentals of Islamic Finance and Banking is here to cover the most important topics related to Islamic finance and banking (IF&B) that are relevant for students of business, finance and banking. Offers an historical background of Islamic finance Covers the principles of Sharia Law as pertinent to finance and banking Provides in-depth discussion of the six key Islamic banking products: Murabaha, Mudaraba, Musharaka, Ijara, Salam and Istisna Discusses the Islamic insurance (Takaful) Gives an overview of Islamic investment, especially Sukuks Concludes with the global standing of the Islamic Finance and Banking industry Would-be colleges and universities offering this subject as a course within their finance and/or banking program can't be without this invaluable guide.
Banks are of central importance for economic growth, the allocation of capital, competitiveness, and financial stability. Propelled by technological advances in financial analysis and financial deregulation, the banking industry's investment played a key role in enhancing national economic growth in the early 21st century. The global financial crisis in 2007 revealed the banking world's feet of clay. Since 2007, the turmoil in the global financial system has prompted a fundamental reappraisal of the scale, scope, governance, performance, safety and soundness of banks and other financial institutions. In this Very Short Introduction John Goddard and John Wilson explore the world of banking, describing the role of central banks in national and global economies, and analysing the increasing supervision and regulation imposed on the banking industry. Looking to the future, the authors consider proposals for reform of the banking industry, and the prospects of a resolution of the closely-related banking and sovereign debt crises. ABOUT THE SERIES: The Very Short Introductions series from Oxford University Press contains hundreds of titles in almost every subject area. These pocket-sized books are the perfect way to get ahead in a new subject quickly. Our expert authors combine facts, analysis, perspective, new ideas, and enthusiasm to make interesting and challenging topics highly readable.
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