Globalisation and finance at the crossroads : the financial crisis, regulatory reform and the future of banking /: the financial crisis, regulatory reform and the future of banking. (2018)

• Record Type: Book
• Further Information: Note: Adrian Blundell-Wignall, Paul Atkinson, Caroline Roulet.
• Authors: Blundell-Wignall, A; Atkinson, Paul; Roulet, Caroline
• Contents: Intro; Foreword; Contents; List of Figures; List of Tables; Glossary of Acronyms and Concepts; Introduction; 1 Globalisation Sets the Background to the Crisis; Introduction to Globalisation; The OECD Countries Open Up; The Case of Japan; Mexico Crises; Washington Consensus; Emerging Asia; The China Growth Phase; In Summary; The China Path to Prosperity and the US Financial Crisis of 2007-2008; Export Success and Import Penetration Strategies; Exchange Rate Management and Pricing for Market Share; The Saving Glut and Real Interest Rates Capital Inflows, Foreign Exchange Intervention and Bond BuyingThe Impact of the Rise of Asia on the West; The Competitive Response of Western Companies to Competition from Asia; The Impact of Import Penetration and Firm Innovation on Western Labour Markets; Deflation Pressures in Firms Most Affected by Globalisation; Summing up the Globalisation Background to the Crisis in the USA; The Great Bond Rally; The Great House Price Rally; Appendix to Chapter 1: Modelling the Effect of Foreign Buying on US Bond Yields; References; 2 Financial Innovation and Basel II Introduction to Financial Deregulation and InnovationThe Basel Accords I and II; Financial Innovations: Securitisation and Derivatives; Support for Housing in the USA; Packaging Mortgages; Trading Mortgages Take off; Securitisation Follows; The 'Waterfall'; The Mortgage Conduit (REMIC) and Structured Investment Vehicles (SIVs); Teaser Rates and On-Selling; Derivatives; Derivatives Have a Long History; But the Huge Expansion of Derivative Activity Is Recent; Regulating OTC Derivatives in the Run-up to the Crisis; The Demand for Securitisation and Derivatives Basic Bank Balance Sheet ArithmeticThe Boom in Derivatives; Regulatory and Tax Arbitrage with Complete Markets in Credit; A Basic Regulatory Principle; Banks, Implicit Government Guarantees and Shadow Banks; Tax Arbitrage; Targeting the Ratio of Risk Weighted to Total Assets to Maximise the Return on Equity; Summary; Appendix to Chapter 2: Problems with Pillar 1; References; 3 The Watershed Year of 2004: Origins and Causes of the Crisis; Introduction; Global Competition and the Equity Culture for Banking; Remuneration; Causality; Institutional and Regulatory Issues Why Subprime Securitisation Was Concentrated in the USAWhy US Subprime Securitisation Accelerated from 2004; The American Dream Act; The Fannie and Freddie Caps; The Announcement of Basel II; The SEC Rule Changes in 2004; Corporate Governance; The Crisis Hits, the Lehman Moment; Appendix to Chapter 3: Modelling the Acceleration of US RMBS from 2004; References; 4 Business Models of Banks and Global Contagion; Introduction; Contrasting Banking Conglomerate Asset and Liability Composition; Synthetic CDO Issuance by Banks; Issuance of Credit Derivative Structured Products
• Publisher Details: Cham : Palgrave Macmillan
• Publication Date: 2018
• Extent: 1 online resource
• Subjects: 346.082; Finance; Banking law; Banks and banking -- Government policy; Global Financial Crisis, 2008-2009; LAW / Administrative Law & Regulatory Practice; Banking law; Banks and banking -- Government policy; Business & Economics -- Economic History; Business & Economics -- Finance; Economic & financial crises & disasters; International finance; Banks and banking; Financial crises; International finance; Business & Economics -- Banks & Banking; Banking; Electronic books
• Languages: English
• ISBNs: 9783319726762; 3319726765
• Related ISBNs: 9783319726755; 3319726757
• Notes: Note: Online resource; title from PDF title page (EBSCO, viewed July 6, 2018)
• Access Rights: Legal Deposit; Only available on premises controlled by the deposit library and to one user at any one time; The Legal Deposit Libraries (Non-Print Works) Regulations (UK).
• Access Usage: Restricted: Printing from this resource is governed by The Legal Deposit Libraries (Non-Print Works) Regulations (UK) and UK copyright law currently in force.