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International finance regulation : the quest for financial stability / / Georges Ugeux
| International finance regulation : the quest for financial stability / / Georges Ugeux |
| Autore | Ugeux Georges |
| Edizione | [1st edition] |
| Pubbl/distr/stampa | Hoboken, New Jersey : , : Wiley, , 2014 |
| Descrizione fisica | 1 online resource |
| Disciplina | 332/.042 |
| Collana | Wiley Finance Series |
| Soggetto topico |
International finance
International finance - Law and legislation Banks and banking |
| ISBN |
1-118-82962-X
1-118-82964-6 |
| Classificazione | BUS027000 |
| Formato | Materiale a stampa  |
| Livello bibliografico | Monografia |
| Lingua di pubblicazione | eng |
| Nota di contenuto | Machine generated contents note: Preface Is Finance In a Stage of Permanent Crisis? Global Markets Are Interconnected Regulating Finance in a World in Crisis A Web of Institutional Complexity Will Global Financial Regulation become Lex America? Applying Global Regulatory Convergence Regulator and Regulated: The Infernal Couple Finance Cannot Be Left Unregulated Five Years after Lehman, Regulation Could Not Change the Culture A Culture of Outlaws I Will Never Give Up Notes Chapter 1: The Multiple Objectives of Financial Regulation1 Stop (Ab)using Taxpayer Money Protect Retail and Small Investors and Depositors Ensure Transparency of Markets and Institutions Implement a Truly Risk Adjusted Remuneration System Protect Deposits from Trading Notes Chapter 2: A Quarter Century of Banking Crises and the Evolution of Financial Institutions Banking Crises are No Exactly a Recent Phenomenon The Two Main Emerging Market Crises The Subprime Crisis The Lehman Crisis The European Sovereign Debt Crisis The European Banking Crisis The Libor Manipulation Will the Foreign Exchange Market Be Next? Notes Chapter 3: The Lessons of the Recent Financial Crises: The Explosion of Balance Sheets The Structural Overbanking of Europe The Lack of Transparency of the Derivative Markets The Emergence of the Credit Default Swaps (CDS) Market The Regulatory Landscape Is Not Global, But Largely National Notes Chapter 4: Global Financial Regulation: The Institutional Complexities The Group of Twenty (G20) The Financial Stability Board (FSB) The Bank for International Settlements (BIS) and the Basel Committee (BCBS) The International Monetary Fund (IMF) The International Organization of Securities Commissions (IOSCO) The International Accounting Standard Board (IASB) The International Association of Insurance Supervisors (IAIS) Notes Chapter 5: Capital Adequacy, Liquidity and Leverage Ratios: Sailing Towards the Basel III Rules Part I: Capital Adequacy Part II: Liquidity Part III: Leverage Notes Chapter 6: Assessing Likely Impacts of Regulation on the Real Economy Notes Chapter 7: Regulating the Derivatives Market The Origin of the Derivatives Market The Size of the Derivatives Markets U.S. Regulation: Dodd Frank Act European Market Infrastructure Regulation (EMIR) The Transatlantic Divergences Short Selling is a Form of Derivative The JP Morgan Chase London Trading Losses Notes Chapter 8: The Structure of Banking: How Many Degrees of Separation? Systemically Important Financial Institutions (SIFI) The Universal Banking Model Separation Models United Kingdom United States European Union Switzerland The Volcker Rule and Proprietary Trading 15 Too Big To Fail (TBTF): Is Size the Problem? Prohibit the Trading of Commodities by Banks Notes Chapter 9: Banking Resolution and Recovery Moral Hazard Can the Bail-In Concept Avoid Taxpayers' Bailout? Lessons from the Financial Crisis Living Will or How Banks Want to Be Treated if They Are Close to Collapsing United States The Citi Recovery Plan The Role of the Federal Deposit Insurance Corporation in the United States Sheila Bair Was the Chair of FDIC during the Financial Crisis United Kingdom European Banking Resolution and Recovery Directive Regulatory Technical Standards Can Resolution Rules be Effective? An Impossible European Institutional Challenge Who Will Decide to Put Companies Under Resolution Surveillance? Notes Chapter 10: Banking and Shadow Banking Hedge Funds United States Europe Other Types of Shadow Banking Capital Markets and Securitization Notes Chapter 11: Rating Agencies and Auditors Part I: The Rating Agencies Part II: External Auditors Part III: The Limits of Accountability Notes Chapter 12: Central Banks As Lenders of Last Resort Have a Conflict of Interest with Their Regulatory Role Financial Stability The United States: Quantitative Easing European Central Bank: The Long Term Revolving Operations (LTRO) The United Kingdom Japan and Abenomics Are Central Banks Balance Sheets Eternally Expandable? Have they becomeHedge Funds? Is This Novation of Central Banks Legitimate or Legal? Notes Chapter 13: Financial Institutions Governance (or Lack Thereof) Risk Management The Dysfunctional Boards of Directors Should the Chairperson Also be the CEO? Remuneration and Risks Personal or Institutional Accountability Notes Chapter 14: Was it a Global Crisis? The Asian Perspective Japan China India Assessing the Asian Risk Notes Chapter 15: The Challenges of Global Regulation Regulation, Policies, and Politics Regulators and Sovereign Financing The ECB Supervision: The E.U. Governance Challenges The Risks of Regulatory Fragmentation Bank Resolution: The Legal Nightmare Basel III The Reemergence of Capital Markets Restructuring Finance Should Financial Communication Be Regulated? Should Financial Media Respect a Code of Conduct? Financial Education is Key Notes Chapter 16: Regulation and Ethics Management Integrity Accountability Transparency is Key A Principled Regulatory System is Needed Doing the Right Thing Notes Conclusion: What Can We Expect? A few books I read and found helpful... About the Author Index . |
| Record Nr. | UNINA-9910265230303321 |
Ugeux Georges
|
||
| Hoboken, New Jersey : , : Wiley, , 2014 | ||
| Materiale a stampa | ||
| Lo trovi qui: Univ. Federico II | ||
| ||
International finance regulation : the quest for financial stability / / Georges Ugeux
| International finance regulation : the quest for financial stability / / Georges Ugeux |
| Autore | Ugeux Georges |
| Edizione | [1st edition] |
| Pubbl/distr/stampa | Hoboken, New Jersey : , : Wiley, , 2014 |
| Descrizione fisica | 1 online resource |
| Disciplina | 332/.042 |
| Collana | Wiley Finance Series |
| Soggetto topico |
International finance
International finance - Law and legislation Banks and banking |
| ISBN |
1-118-82962-X
1-118-82964-6 |
| Classificazione | BUS027000 |
| Formato | Materiale a stampa |
| Livello bibliografico | Monografia |
| Lingua di pubblicazione | eng |
| Nota di contenuto | Machine generated contents note: Preface Is Finance In a Stage of Permanent Crisis? Global Markets Are Interconnected Regulating Finance in a World in Crisis A Web of Institutional Complexity Will Global Financial Regulation become Lex America? Applying Global Regulatory Convergence Regulator and Regulated: The Infernal Couple Finance Cannot Be Left Unregulated Five Years after Lehman, Regulation Could Not Change the Culture A Culture of Outlaws I Will Never Give Up Notes Chapter 1: The Multiple Objectives of Financial Regulation1 Stop (Ab)using Taxpayer Money Protect Retail and Small Investors and Depositors Ensure Transparency of Markets and Institutions Implement a Truly Risk Adjusted Remuneration System Protect Deposits from Trading Notes Chapter 2: A Quarter Century of Banking Crises and the Evolution of Financial Institutions Banking Crises are No Exactly a Recent Phenomenon The Two Main Emerging Market Crises The Subprime Crisis The Lehman Crisis The European Sovereign Debt Crisis The European Banking Crisis The Libor Manipulation Will the Foreign Exchange Market Be Next? Notes Chapter 3: The Lessons of the Recent Financial Crises: The Explosion of Balance Sheets The Structural Overbanking of Europe The Lack of Transparency of the Derivative Markets The Emergence of the Credit Default Swaps (CDS) Market The Regulatory Landscape Is Not Global, But Largely National Notes Chapter 4: Global Financial Regulation: The Institutional Complexities The Group of Twenty (G20) The Financial Stability Board (FSB) The Bank for International Settlements (BIS) and the Basel Committee (BCBS) The International Monetary Fund (IMF) The International Organization of Securities Commissions (IOSCO) The International Accounting Standard Board (IASB) The International Association of Insurance Supervisors (IAIS) Notes Chapter 5: Capital Adequacy, Liquidity and Leverage Ratios: Sailing Towards the Basel III Rules Part I: Capital Adequacy Part II: Liquidity Part III: Leverage Notes Chapter 6: Assessing Likely Impacts of Regulation on the Real Economy Notes Chapter 7: Regulating the Derivatives Market The Origin of the Derivatives Market The Size of the Derivatives Markets U.S. Regulation: Dodd Frank Act European Market Infrastructure Regulation (EMIR) The Transatlantic Divergences Short Selling is a Form of Derivative The JP Morgan Chase London Trading Losses Notes Chapter 8: The Structure of Banking: How Many Degrees of Separation? Systemically Important Financial Institutions (SIFI) The Universal Banking Model Separation Models United Kingdom United States European Union Switzerland The Volcker Rule and Proprietary Trading 15 Too Big To Fail (TBTF): Is Size the Problem? Prohibit the Trading of Commodities by Banks Notes Chapter 9: Banking Resolution and Recovery Moral Hazard Can the Bail-In Concept Avoid Taxpayers' Bailout? Lessons from the Financial Crisis Living Will or How Banks Want to Be Treated if They Are Close to Collapsing United States The Citi Recovery Plan The Role of the Federal Deposit Insurance Corporation in the United States Sheila Bair Was the Chair of FDIC during the Financial Crisis United Kingdom European Banking Resolution and Recovery Directive Regulatory Technical Standards Can Resolution Rules be Effective? An Impossible European Institutional Challenge Who Will Decide to Put Companies Under Resolution Surveillance? Notes Chapter 10: Banking and Shadow Banking Hedge Funds United States Europe Other Types of Shadow Banking Capital Markets and Securitization Notes Chapter 11: Rating Agencies and Auditors Part I: The Rating Agencies Part II: External Auditors Part III: The Limits of Accountability Notes Chapter 12: Central Banks As Lenders of Last Resort Have a Conflict of Interest with Their Regulatory Role Financial Stability The United States: Quantitative Easing European Central Bank: The Long Term Revolving Operations (LTRO) The United Kingdom Japan and Abenomics Are Central Banks Balance Sheets Eternally Expandable? Have they becomeHedge Funds? Is This Novation of Central Banks Legitimate or Legal? Notes Chapter 13: Financial Institutions Governance (or Lack Thereof) Risk Management The Dysfunctional Boards of Directors Should the Chairperson Also be the CEO? Remuneration and Risks Personal or Institutional Accountability Notes Chapter 14: Was it a Global Crisis? The Asian Perspective Japan China India Assessing the Asian Risk Notes Chapter 15: The Challenges of Global Regulation Regulation, Policies, and Politics Regulators and Sovereign Financing The ECB Supervision: The E.U. Governance Challenges The Risks of Regulatory Fragmentation Bank Resolution: The Legal Nightmare Basel III The Reemergence of Capital Markets Restructuring Finance Should Financial Communication Be Regulated? Should Financial Media Respect a Code of Conduct? Financial Education is Key Notes Chapter 16: Regulation and Ethics Management Integrity Accountability Transparency is Key A Principled Regulatory System is Needed Doing the Right Thing Notes Conclusion: What Can We Expect? A few books I read and found helpful... About the Author Index . |
| Record Nr. | UNINA-9910821916303321 |
|
Ugeux Georges
|
||
| Hoboken, New Jersey : , : Wiley, , 2014 | ||
| Materiale a stampa | ||
| Lo trovi qui: Univ. Federico II | ||
| ||
Wall Street's assault on democracy : how financial markets exacerbate inequalities / / Gorges Ugeux ; foreward by Jacques de la Rosière
| Wall Street's assault on democracy : how financial markets exacerbate inequalities / / Gorges Ugeux ; foreward by Jacques de la Rosière |
| Autore | Ugeux Georges |
| Edizione | [First edition.] |
| Pubbl/distr/stampa | Cham, Switzerland : , : Springer Nature Switzerland AG, , [2023] |
| Descrizione fisica | 1 online resource (244 pages) |
| Disciplina | 332.041 |
| Soggetto topico |
Capital market - Moral and ethical aspects
Capital market - Social aspects Capitalism - Social aspects Democracy Equality - Economic aspects |
| ISBN | 3-031-29094-1 |
| Formato | Materiale a stampa |
| Livello bibliografico | Monografia |
| Lingua di pubblicazione | eng |
| Nota di contenuto |
Intro -- Foreword -- Acknowledgments -- Contents -- About the Authors -- Introduction: Wall Street's Denial -- 2022: The Year When the Veil of the Temple Was Torn -- The Pandemic Crisis -- And Then There Was War -- The Energy Crisis -- But All Is Not Lost for Everybody -- The Looming Sovereign Debt Crisis -- Central Banks Lose Control of Inflation -- The Chinese Economy in Financial Demise -- 2023 or the Year Depositors Were Favored with Public Money: SVB, FRB, and Credit Suisse -- The Mismanagement of Silicon Valley Bank -- The Contagion of First Republic Bank -- The Credit Suisse Saga -- The Three Cases Have a Common Thread -- The Disconnect with the Real Economy -- Inflation Rears Its Ugly Head -- Fraud and Manipulation Are on the Rise -- Wall Street Imposes Its Short-Term Vision -- Priority to the Shareholder: The Ideology That Creates Inequality -- Humanism Rather Than Populism -- The Emergence of Plutocracy -- The Cause Is Not Lost -- It Is Time to Tell the Truth -- An Unsustainable Inequality -- The Excesses of Financial Markets Threaten Democracy -- The Stock Market Is Not an Economic or Political Barometer -- Citizens Are Falling into the Debt Trap -- Modern Monetary Theory Is Political -- A Reminder of Previous Episodes -- Before and After 2008: A Classic Financial Crisis -- The Explosion of Debt Since the Global Financial Crisis of 2008 -- The Year 2020: A Viral Tsunami -- Wall Street at the Heart of Financial Capitalism -- The Power of Financial Markets -- The IMF and the World Bank Sound the Alarm -- Financial Accountability -- To Whom Are Financiers Accountable? -- The Fragmentation of Authorities Facilitates Unaccountability -- Beyond Compliance: Social Responsibility -- A Coalition of Interests Facilitates Manipulation -- The Weakening of Democratic Control -- The Pillars: Issuers and Investors in Search of Growth and Profit.
Companies Looking for Equity and Long-Term Financing -- The Challenges of the Listed Company -- Not Every Company Can Become Public -- Governance of Listed Companies -- Access to International Capital -- The Chinese Dilemma -- Investors Look for Valuable Assets -- Investor Diversity and Market Fragmentation -- Individual Investors -- Private Equity Funds -- Mutual Funds and Investment Trusts -- Hedge Funds -- Insurance Companies -- Pension Funds -- Governments as Shareholders, or the Double Language -- AIG and Hank Greenberg -- The Conservatorship of Fannie Mae and Freddy Mac -- France and the Double Voting Rights -- Emerging Markets and State Ownership -- Sovereign Wealth Funds -- The Operators in Search of Liquidity -- Market Makers Between Volume and Investment -- Algorithmic Trading: A Short-Term Mechanism -- Brokers at the Service of the Investor -- Banks at the Heart of Conflicts of Interest -- The Crisis of 1929 Excluded Banks from Capital Markets -- The End of the Glass-Steagall Act or the Return of the Universal Bank in the United States -- The Domination of the Bond Market by the Banks -- Banks as Prime Brokers at the Service of Hedge Funds -- Are Public Authorities Complicit or Ignorant? -- Governments and the Explosion of Sovereign Debt -- Is There a Limit to the Indebtedness of the United States? -- Is Europe in Control of Its Indebtedness? -- The Japanese Mirage -- The Regulatory Authorities' Denial of Sovereign Risks -- Central Banks to the Rescue of Financial Markets and Borrowers -- Central Banks Buy Back Government Bonds: A High-Risk Self-Financing Operation -- Should Central Banks Support the Financial Markets? For Whom Do Central Banks Work? -- Central Banks at the Service of the Capital Markets? -- An Ecosystem at the Service of the Corporate World -- Law Firms or the Privatization of Financial Law. Audit Firms and the Temptation of Complacency -- Enron in Collusion with Arthur Andersen -- Ernst & -- Young Does Not Check the Bank Statements of Wirecard -- The Media at the Service of the Financial Markets -- How Does the Control of Information Affect the Proper Functioning of Markets? -- The Single Mind of the Financial Markets -- No One Size Fits All -- Financial Markets Operate in Their Own Interest -- Stock Markets in the Oven and in the Mill -- A Little History: From "Seat" Owners to a Public Company -- Shareholder Transformation and Acquisitions -- The United States -- Europe -- Asia -- The Valuation of Companies at the Heart of Stock Exchanges -- What Is the Value of a Listed Company? -- Price Fragmentation and Platform Abundance -- Beware of Your Friends... -- Trading Platforms -- Pseudo Markets: Crypto Exchanges and Other Platforms -- Liquidity Is the Core of the Market, But It Is Not an End in Itself -- The Contribution of the Financial Markets Is Essential -- Pensions Financed by the Financial Markets -- The Growing Importance of Energy Transition -- Healthcare's Thirst for Financing: A Viral Need -- The Growing Impact of Financial Markets on Households -- Sophisticated Investors: The United States vs Europe -- Know Your Customer: The Golden Rule for Brokers and Financial Advisors -- Investment in Funds: Indirect Influence? -- Barriers to Entry -- Incomprehensible Language -- The Onslaught Through Financial Marketing -- Addiction to Debt -- Unequal Access to Financial Markets -- A Source of Enrichment for the Wealthy? -- Ninety Percent of the World Population Has No Access to Financial Markets -- Is Financial Innovation Making Financial? -- The Innovative Products -- Derivatives: Who Benefits? -- Short Selling: What Is the Credit Risk of Securities Lenders? -- Is That All?. Increasing the Size of Financial Markets for Liquidity Reasons? -- The Crypto (In)experiment or the Creation of Assets Without Substance -- Cryptos Are a Gigantic Ponzi Scheme -- A Net Loss to the Economy -- Facebook and Its Libra, or an Arrogant Company's Dreams of Grandeur -- Central Bank Digital Currencies, or the Defensiveness of Currency Issuers -- Exchange Traded Funds (ETFs): A Useful Innovation -- High-Frequency Trading, or the Race to the Nanosecond for the Strongest -- The Regulation of Innovation Is Essential -- The Problem of Regulators -- A Culture Above the Law? -- When the Ideology of the Markets Defies Democracy -- Do Financial Markets Have an Ideology? -- The Invasion of American Financial Capitalism -- The Marshall Plan -- A Series of Big Bangs -- The Arrival En Masse of American Players on the London Market -- The Cult of Shareholder Value -- Without Shareholders, There Would Be No Companies -- The Dogma of the Primacy of Shareholder Value Conflicts with Social Purpose -- Is Shareholder Enrichment Going Beyond What They Deserve? -- The Question of Inequality Cannot Be Avoided -- Executive Compensation Tied to Market Prices -- What About Stock Options? -- The Race for Shareholder Return -- What About the Dividend? -- Share Buybacks to Boost Returns… and Threaten Financial Stability -- The Short and Long Term: Shareholder Activism -- Shareholder Activism Can Be Useful Depending on Its Purpose -- Activism and Abuse of Rights -- Is Shareholder Value a Threat to Employment? -- Dividends vs. Jobs -- Capital Markets, Politics, and Policies -- Finance Is Not Included in the Political Debate -- The Financing of Elections -- Democratic Institutions Funded by Interest Groups -- What About the World? -- Financial Markets and International Politics -- The Fight Against International Corruption -- The Challenge of Emerging Countries. The Chinese Case or the Misled Listing War -- International Cooperation of Regulators -- The Role of Taxation in Capital Inequalities -- Corporate Income Tax Stumbles Around the World: The Cost of Globalization -- Tax Inequality: Households Are the Cash Cow of the State -- Large Companies Do Not Pay Income Taxes -- A Major Shift in Corporate Taxation? -- Wealthy Tax Evasion -- An Undemocratic Coalition of Hostile Interests -- For a Democratic Reform of Financial Markets -- A Complete Change of Perspective -- A Change of Mentality Is Always a Challenge -- A Social and Solidarity-Based Capitalism Is Possible -- The Public Sector Must Reduce Its Dependency on Wall Street -- The State and Financial Contributions Corrupt the Decision-Making Process -- The Holy Alliance of Special Interests -- Eliminate Tax Deductibility of Political Contributions and Lobbying -- The Opacity of Political Contributions -- Refocusing Central Banks on Monetary Policy -- The Failure of the Custodians of Inflation -- A Politically Impossible Mission? -- Stop Printing Money -- Conflicts of Interest Require a Change in Governance: Central Banks as Supermarkets -- Transparency Is Not Optional -- The Supervision of Banks Needs to Be Transferred to an Independent Agency -- Redefining the Independence of Central Banks -- Central Banks Pretend to be Independent: Are They? -- Redeploying the Corporate World on Its Mission -- Making Corporate Officers and Directors Personally Accountable -- Individualizing Responsibility -- Disconnecting Executive Compensation from the Stock Market -- Making Directors Accountable for Avoiding Difficult Questions and Not Sanctioning Management -- Separating the Functions of Chairman and CEO -- Shares Buybacks Are Strategic Decisions That Must Be Justified -- Where Are the Banking Regulators? -- Making Investors Accountable. Clarifying the Relationship with Issuers -- Promoting Investments Based on Sustainability Principles -- Promoting Fair Markets -- The Redistribution of Wealth -- Containing the Size of Capital Markets -- Limit the Use of Derivatives Through Capital Adequacy -- Treating Short Selling as Lending -- Rebalancing Labor and Capital Through Taxation -- Effectively Tax Large Companies -- Taxation of Capital Gains -- Promote a Tax on Financial Transactions? -- Fighting Fraud Facilitated by Financial Markets -- Reconciling Shareholders and Society -- A Social and Solidarity-Based Approach to Financial Markets -- Promoting a Long-Term Vision: Publishing a Three-Year Plan Every Year? -- Strengthening Financial Regulation -- Strengthen the Independence of Financial Regulation -- Financial Regulation Needs to be Robust -- Supervising Financial Innovation: The Deceiving Mask of Financial Engineering -- Regulating Cryptos -- The Special Purpose Acquisition Companies (SPACs) -- Promote Education, Information and Honest Communication -- Financial Education Must Be Part of Adolescent Education -- Establishing a True Financial Education of the General Public -- Financial Communication in the Age of Fake News -- Making the Media Responsible for Financial Information -- Rein in Financial Advertisement -- The Governance of Markets: An Opportunity for Europe -- Developing a Robust European Financial Market -- Establishing a European Model of Corporate Governance -- The Regionalization of Globalization Is an Opportunity for Europe -- Globalization Will Have to Evolve -- The European Capital Markets Union Is an Essential Ambition. Renewing the Threads of Trust in Finance: An Ethical Endeavor -- Telling the Truth to Regain Confidence -- Disconnect the Remuneration System from the Stock Price -- Recognize the Politicization of Financial Markets -- Ex Aequo and Bono: The Need for Democratic Equity -- There Is No Democratic Society Without Equity -- These Books Inspired me |
| Record Nr. | UNINA-9910767520503321 |
|
Ugeux Georges
|
||
| Cham, Switzerland : , : Springer Nature Switzerland AG, , [2023] | ||
| Materiale a stampa | ||
| Lo trovi qui: Univ. Federico II | ||
| ||