Download or read book The Great Financial Plumbing written by Karel Lannoo and published by Rowman & Littlefield. This book was released on 2015-09-30 with total page 201 pages. Available in PDF, EPUB and Kindle. Book excerpt: The financial crisis has led to a far-reaching redesign of the European regulatory and supervisory framework. Following the commitments made in the context of the G-20, but also reacting to internal shortcomings, the EU engaged in a massive program to re-regulate financial markets. The EU furthermore redesigned the structure for supervisory cooperation, initially through the European Supervisory Authorities, and later in its ambition to form the Banking Union. In The Great Financial Plumbing, Karel Lannoo systematically assesses the new regulatory and supervisory framework. The book’s structure follows the big questions on the agenda: 1) What is Banking Union? 2) How have the concerns of the G-20 been addressed by the EU (oversight of credit-rating agencies, better capital for banks, the re-regulation of securities and derivatives markets, asset management, depositor protection and bank resolution)? 3) How were uniquely EU rules on state aid applied to the banking sector? This book is designed to give professionals, policy-makers and students a better understanding of the new regulatory framework and insights into the policy context that has led to the new rules governing financial markets in Europe.

Download or read book Financial Plumbing and Monetary Policy written by Mr.Manmohan Singh and published by International Monetary Fund. This book was released on 2014-06-20 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper focuses on how changes in financial plumbing of the markets may impact the monetary policy options as central banks contemplate lift off from zero lower bound (ZLB). Under the proposed regulations, banks will face leverage ratio constraints. As a result of quantitative easing (QE), banks want balance sheet “space” for financial intermediation/ non-depository activities. At the same time, regulatory changes are boosting demand for high quality liquid assets. The paper also discusses the role of repo markets and the importance of collateral velocity and the need to avoid wedges between repo and monetary policy rates when leaving ZLB.

Download or read book Collateral and Financial Plumbing written by Manmohan Singh and published by . This book was released on 2016 with total page 211 pages. Available in PDF, EPUB and Kindle. Book excerpt: Collateral is one of the building blocks on which the financial markets are constructed. Used for a number of purposes--including trading with central counterparties (CCPs), secured funding with market counterparties and central banks, OTC derivatives margining and settlement--the role of effective collateral management in monetizing assets has never been more important.

Download or read book Plumbers and Visionaries written by Peter Norman and published by John Wiley & Sons. This book was released on 2008-07-31 with total page 364 pages. Available in PDF, EPUB and Kindle. Book excerpt: Plumbers and Visionaries: Securities Settlement and Europe’s Financial Market is a path-breaking account of the history and future of the securities settlement industry in Europe. Written by experienced journalist and author, Peter Norman, this book takes a look at the less visible, but nevertheless critical segment of the global capital markets, following the development of securities settlement across Europe’s frontiers. It encompasses the free-wheeling days of the Eurobond market in the 1960s, through the growing integration of the European Union, to the highly regulated and efficient multi-trillion euro business securities settlement it is today. This book is the story of a financial sector that has grown hugely in importance in the 40 years since Euroclear, now the world’s premier settlement system for domestic and international securities transactions, was created to deal with a settlement crisis that threatened to smother the international capital market in its infancy. Beginning with the settlement crisis in the Eurobond market, this book describes how Euroclear and later Cedel, its arch-rival, were founded to deal with the problem. It follows the challenges posed by cross-border settlement for a growing range of securities when most financial infrastructures operated only within national frontiers. The book demonstrates how securities settlement became an issue for public policy after the stock market crash of 1987 and how the problems of cross-border settlement moved rapidly up the European policy agenda after the euro’s launch. More than a mere history, this book engages with the people who created the modern European securities settlement industry and taps into the often entertaining memories of its founding fathers. This book also focuses on the difficulties and challenges of cross-border transactions which have been identified as hampering Europe’s economic growth. It looks at the present state of the industry seeking a way forward so that the securities settlement infrastructure will better serve a single European capital market.

Download or read book The Pay Off written by Gottfried Leibbrandt and published by Elliott & Thompson. This book was released on 2022-04-14 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt: How we pay is so fundamental that it underpins everything - from trade to taxation, stocks and savings to salaries, pensions and pocket money. Rich or poor, criminal, communist or capitalist, we all rely on the same payments system, day in, day out. It sits between us and not just economic meltdown, but a total breakdown in law and order. Why then do we know so little about how it really works? As you read this, technology is dismantling payment barriers and governments are erecting them; cash is on the way out, and crypto and BigTech are fighting their way in. The Europeans are heavily regulated, the Americans oddly backward, and the Chinese hoping to lead the way forward. Challenging our understanding about where financial power really lies, The Pay Off shows us that the most important thing about money is the way we move it. Leibbrandt and De Terán shine a light on the hidden workings of the humble payment - and reveal both how our payment habits are determined by history as well as where we go from here. From national customs to warring nation states, geopolitics will shape the future of payments every bit as much as technology.

Download or read book Central Banking 101 written by Joseph Wang and published by Joseph Wang. This book was released on 2020-01-18 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: Central banking is magic. With a few words, the Fed can lift the stock market out of desperation and catapult it towards euphoric highs. With a few keystrokes, the Fed can conjure up trillions of dollars and fund virtually unlimited Federal spending. And with a few poor decisions, the Fed can plunge the entire world into a recession. The Federal Reserve is one of the most powerful institutions in the world, and also one of the most difficult to understand. The Fed acts through its Open Markets Desk, which sits at the heart of the global financial system as the world’s ultimate and limitless provider of dollars. On behalf of policy makers, the Desk gathers market intelligence from all the major market participants, sifts through reams of internal data, and works behind the scenes keep the financial system intact. It is responsible for all of the Fed's market operations, from trillions in quantitative easing to hundreds of billions in repo and FX-swap loans. The financial crises of 2008 and 2020 abated only through the emergency interventions of the Desk. Joseph Wang spent five years studying the monetary system as a trader on the Desk. From that vantage point, Joseph saw firsthand how the Fed operates and how the financial system really works. This book is a distillation of his experience that aims to educate and demystify. After reading this book, you will understand how money is created, how the global dollar system is structured, and how it all fits into the broader financial system. The views in this book do not necessarily reflect those of the Federal Reserve Bank of New York or the Federal Reserve System.

Download or read book The Risk Controllers written by Peter Norman and published by John Wiley & Sons. This book was released on 2011-09-07 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: Clearing houses, or CCPs, were among the very few organisations to emerge from the global financial crisis with their standing enhanced. In the chaotic aftermath of the bankruptcy of Lehman Brothers, they successfully completed trades worth trillions of dollars in a multitude of financial instruments across listed and over-the-counter markets, and so helped avert financial Armageddon. That success transformed the business of clearing. Governments and regulators around the world gave CCPs and the clearing services they provide a front-line role in protecting the global economy from future excesses of finance. CCPs, which mitigate risk in financial markets, responded by greatly expanding their activities, notably in markets for over-the-counter derivatives, and often in fierce competition with one another. In The Risk Controllers, journalist and author Peter Norman describes how CCPs operate, how they handled the Lehman default, and the challenges they now face. Because central counterparty clearing is a complex business with a long history that continues to influence decisions and structures even in today’s fast changing world, The Risk Controllers explores the development of CCPs and clearing from the earliest times to the present. It draws on the experiences of the people who helped to shape the business of clearing today. It sets the development of CCPs and clearing in the broader context of changes in society, politics and regulation. The book examines turning points, such as the 1987 stock market crash, that set clearing on a new path and the impact of long running trends, including the exponential growth of computer power and the ebb and flow of globalisation. Written in non-technical language, The Risk Controllers provides a unique and accessible guide to CCPs and clearing. It is essential reading for clearing professionals, legislators and regulators whose job it is to take this vitally important business into the future. “The recent crisis has, thankfully, renewed interest in the importance of central counterparties: how they can help preserve stability or, as Hong Kong showed in 1987, undermine stability if they are not super sound. Peter Norman’s book places the role of clearing houses in a historical context, and explains why the financial system’s plumbing matters so much. It should be read by anyone interested in building safer capital markets.” Paul Tucker, Deputy Governor Financial Stability, Bank of England

Download or read book Give People Money written by Annie Lowrey and published by Crown. This book was released on 2018-07-10 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: A brilliantly reported, global look at universal basic income—a stipend given to every citizen—and why it might be the answer for our age of rising inequality, persistent poverty, and dazzling technology. Imagine if every month the government deposited $1,000 into your checking account, with no strings attached and nothing expected in return. It sounds crazy. But it has become one of the most influential and discussed policy ideas of our time. The founder of Facebook, President Obama’s chief economist, Canada and Finland’s governments, the conservative and labor movements’ leading intellectual lights—all are seriously debating versions of a UBI. In this sparkling and provocative book, economics writer Annie Lowrey looks at the global UBI movement. She travels to Kenya to see how a UBI is lifting the poorest people on earth out of destitution, India to see how inefficient government programs are failing the poor, South Korea to interrogate UBI’s intellectual pedigree, and Silicon Valley to meet the tech titans financing UBI pilots in expectation of a world with advanced artificial intelligence and little need for human labor. Lowrey also examines the challenges the movement faces: contradictory aims, uncomfortable costs, and most powerfully, the entrenched belief that no one should get something for nothing. The UBI movement calls into question our deepest intuitions about what we owe each other. Yet as Lowrey persuasively shows, a UBI—giving people money—is not just a solution to our problems, but a better foundation for our society in this age of marvels.

Download or read book Money Greed and Risk written by Charles R. Morris and published by . This book was released on 1999 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume chronicles the evolution of modern financial markets against the backdrop of some of the finance world's most infamous crises. Financial periods are intricately and historically examined, simplifying the financial instruments and techniques so that even the non-financial reader can identify the pattern that Morris uncovers in the lead up to a crisis.

Download or read book Recommendations for Central Counterparties written by Group of Ten. Committee on Payment and Settlement Systems and published by . This book was released on 2004 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Dance of the Trillions written by David Lubin and published by Brookings Institution Press. This book was released on 2018-08-14 with total page 161 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Dance of the Trillions, David Lubin tells the story of what makes money flow from high-income countries to lower-income ones; what makes it flow out again; and how developing countries have sought protection against the volatility of international capital flows. The book traces an arc from the 1970s, when developing countries first gained access to international financial markets, to the present day. Underlying this story is a discussion of how the relationship between developing countries and global finance appears to be moving from one governed by the “Washington Consensus” to one more likely to be shaped by Beijing.

Download or read book The Rise and Fall of American Growth written by Robert J. Gordon and published by Princeton University Press. This book was released on 2017-08-29 with total page 785 pages. Available in PDF, EPUB and Kindle. Book excerpt: How America's high standard of living came to be and why future growth is under threat In the century after the Civil War, an economic revolution improved the American standard of living in ways previously unimaginable. Electric lighting, indoor plumbing, motor vehicles, air travel, and television transformed households and workplaces. But has that era of unprecedented growth come to an end? Weaving together a vivid narrative, historical anecdotes, and economic analysis, The Rise and Fall of American Growth challenges the view that economic growth will continue unabated, and demonstrates that the life-altering scale of innovations between 1870 and 1970 cannot be repeated. Gordon contends that the nation's productivity growth will be further held back by the headwinds of rising inequality, stagnating education, an aging population, and the rising debt of college students and the federal government, and that we must find new solutions. A critical voice in the most pressing debates of our time, The Rise and Fall of American Growth is at once a tribute to a century of radical change and a harbinger of tougher times to come.

Download or read book Emerging Market Securities Access to Global Plumbing written by Gongpil Choi and published by International Monetary Fund. This book was released on 2021-03-26 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: What are the constraints that have stalled EMs efforts to reuse their securities in international financial centers? We discuss the economics of collateral re-use and the present institutional structure in Asian and Latin American countries. Our empirical investigation suggests pledgeability enhances financial stability and reduces dollar funding risk. We also explain the Eurozone collateral pool to incentivize EMs, and why many securities (e.g., BTPs, Italy) are acceptable in London but not EM securities. Looking forward, EMs liaison with International Central Securities Depositories (ICSDs), and global banks’ balance sheet capacity to intermediate cross-border collateral will be crucial for this market to develop.

Download or read book Taunton s Plumbing Complete written by Rex Cauldwell and published by Taunton's Complete. This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: " ... Plumbing Complete is filled with trade secrets only a pro would know, as well as detailed instructions and over 950 photos and drawings that show every step"--Back cover.

Download or read book The Heretic s Guide to Global Finance written by Brett Scott and published by Pluto Press. This book was released on 2013-05-14 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Popular anger against bankers and financial speculators has never been greater, yet the practical workings of the system remain opaque to many people. The Heretic's Guide to Global Finance aims to bridge the gap between protest slogans and practical proposals for reform. As a stockbroker turned campaigner, Brett Scott has a unique understanding of life inside and outside the system. The Heretic's Guide to Global Finance is a practical handbook for campaigners, academics and students who wish to deepen their understanding of the inner workings of the financial sector. It shows how financial knowledge can be used to build effective social and environmental campaigns. Scott covers topics frequently overlooked, such as the cultural aspects of the financial sector, and considers major issues such as agricultural speculation, carbon markets and tar sands financing. The book shows how activists can use the internal dynamics of the sector to reform it and showcases the growing alternative finance movement.

Download or read book Financial Cold War written by James A. Fok and published by John Wiley & Sons. This book was released on 2021-12-20 with total page 519 pages. Available in PDF, EPUB and Kindle. Book excerpt: A groundbreaking exploration of US-China relations as seen through the lens of international finance Rising tensions between China and the United States have kept the financial markets on edge as a showdown between the world’s two largest economies seems inevitable. But what most people fail to recognise is the major impact that the financial markets themselves have had on the creation and acceleration of the conflict. In Financial Cold War: A View of Sino-US Relations from the Financial Markets, market structure and geopolitical finance expert James Fok explores the nuances of China-US relations from the perspective of the financial markets. The book helps readers understand how imbalances in the structure of global financial markets have singularly contributed to frictions between the two countries. In this book, readers will find: A comprehensive examination of the development of financial markets in both China and the US, as well as the current US dollar-based global financial system Insightful observations of the roles of technology, innovation, regulation, taxation, and politics in the markets, and on their resulting effect on US-Sino relations Thorough explorations of the role of Hong Kong as an intermediary for capital flows between China and the rest of the world Suggestions for how, balancing the many varying interests, policymakers might be able to devise effective strategies for de-escalating current Sino-US tensions Financial Cold War is a can’t-miss resource for anyone personally or professionally interested in the intersection of economics and international relations, financial markets, and the infrastructure underlying the international financial system.

Download or read book Leveraged Finance written by Stephen J. Antczak and published by John Wiley & Sons. This book was released on 2009-06-10 with total page 371 pages. Available in PDF, EPUB and Kindle. Book excerpt: A timely guide to today’s high-yield corporate debt markets Leveraged Finance is a comprehensive guide to the instruments and markets that finance much of corporate America. Presented in five sections, this experienced author team covers topics ranging from the basics of bonds and loans to more advanced topics such as valuing CDs, default correlations among CLOs, and hedging strategies across corporate capital structures. Additional topics covered include basic corporate credit, relative value analysis, and various trading strategies used by investors, such as hedging credit risk with the equity derivatives of a different company. Stephen Antczak, Douglas Lucas, and Frank Fabozzi present readers with real-market examples of how investors can identify investment opportunities and how to express their views on the market or specific companies through trading strategies, and examine various underlying assets including loans, corporate bonds, and much more. They also offer readers an overview of synthetic and structured products such as CDS, LCDS, CDX, LCDX, and CLOs. Leveraged Finance has the information you need to succeed in this evolving financial arena.