Fundamentals of Public International Financial Law: International Banking Law within the system of Public International Financial Law

Prof. Dr. Christos Gortsos

doi:10.5771/9783845236391

Summary

Diese in drei Kapiteln aufgegliederte Studie zielt auf die Einführung des Lesers in das internationale öffentliche Finanzrecht, wobei der Schwerpunkt auf dem internationalen öffentlichen Bankrecht liegt, das einen seiner Zweige darstellt.

Das erste Kapitel gewährt eine Einführung in die Funktionen und Infrastrukturen des Finanzsystems, als Grundlage für das internationale öffentliche Finanzrecht, und enthält auch eine Analyse der Ziele der Regulierung des Finanzsystems.

Das zweite Kapitel enthält:

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Bibliographic data

Edition: 1/2012
Copyright Year: 2012
ISBN-Print: 978-3-8329-7180-9
ISBN-Online: 978-3-8452-3639-1
Publisher: Nomos, Baden-Baden
Series: Schriften des Europa-Instituts der Universität des Saarlandes - Rechtswissenschaft
Volume: 89
Language: English
Pages: 315
Product Type: Monograph

Titelei No access Pages 2 - 6
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Foreword No access Pages 7 - 8
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Table of Contents No access Pages 9 - 22
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TABLES INCLUDED IN THE TEXT No access Pages 23 - 24
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INTRODUCTION No access Pages 25 - 28
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1. 1. Authors:
    1. Introduction No access
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    2. Authors:
      1. Introductory remarks No access
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      2. Authors:
        The concepts of financial markets and capital markets No access
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        Markets for debt instruments and equities No access
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        Markets for derivative financial instruments No access
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        Categories of financial firms No access
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        The rationale for developing financial intermediation No access
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        Banking intermediation No access
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        Intermediation through non-bank companies providing credit No access
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        Intermediation by insurance undertakings and pension funds No access
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      1. Introductory remarks No access
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      2. Payment instruments No access
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      3. Payment order-based fund transfer services No access
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    1. Introductory remarks No access
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        Payment systems No access
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        Clearing and settlement systems No access
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        Payment systems No access
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        Clearing and settlement systems No access
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    3. Securities clearing and settlement systems No access
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    1. Introductory remarks – classification approaches No access
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      1. Services provided in the context of direct financing: investment services and collective portfolio management No access
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      2. Authors:
        Introductory remarks No access
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        Services provided by banks in the context of indirect financing (financial intermediation) No access
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        Other services provided by banks No access
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      1. Introductory remarks No access
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      2. Services relating to the issuance and acceptance of payment instruments No access
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      3. Payment order-based fund transfer services No access
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    4. Services provided in the context of the operation of the financial system infrastructures No access
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  4. Excursus: Groups of financial firms No access Pages 57 - 59
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2. 1. Authors:
    1. General overview No access
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    2. Regulatory intervention in economically less-developed and developing states No access
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      1. Introductory remarks No access
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      2. Ensuring the stability of the financial system No access
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        The content of the objective No access
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        Policy instruments No access
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        The content of the objective No access
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        Policy instruments No access
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      5. Safeguarding the efficiency of payment and settlement systems No access
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        The content of the objective No access
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        Policy instruments No access
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      7. Combating the use of the financial system for the commitment of economic crimes No access
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    1. Authors:
      1. Introduction No access
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        Introductory remarks No access
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        Credit risk No access
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        Liquidity risk No access
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        Income risk No access
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        Position risk No access
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        Foreign exchange risk No access
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        Risk arising from open positions in commodities No access
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        Operational risk No access
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        Introductory remarks No access
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        Introduction No access
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        The non-fundamental theory No access
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        The fundamental theory No access
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        Introduction No access
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        Information asymmetries in banking No access
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        Structural vulnerability of banks to liquidity risk No access
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        Channels for risk transmission among banks No access
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    2. Authors:
      1. Introductory remarks No access
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      2. Authorisation requirements No access
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        Content No access
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        Policy instruments No access
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        General remarks No access
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        Institutional aspects No access
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      4. Authors:
        Content No access
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        Introductory remarks No access
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        Macro-prudential regulations to address the systemic risk’s time dimension No access
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        Macro-prudential regulations to address the systemic risk’s cross-sectional dimension No access
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      5. Reorganisation, resolution and winding-up of troubled banks No access
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        Contributions of deposit guarantee systems No access
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        Exposure to moral hazard in terms of portfolio riskiness No access
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        Exposure to moral hazard in terms of capital adequacy No access
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        Differential treatment of banks deemed ‘too big (to be left) to fail’ No access
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      7. Last-resort lending No access
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1. 1. Authors:
    1. Definition No access
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    2. Authors:
      1. Delimitation vis-à-vis public international monetary law No access
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      2. Other delimitations No access
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    3. Authors:
      1. Introduction No access
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      2. Public international banking law No access
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      3. Public international capital markets law No access
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      4. Public international insurance law No access
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      5. Public international financial conglomerates law No access
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      6. Public international payment and settlement systems law No access
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      7. Public international financial services consumer law No access
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      8. Public international law on combating the use of the financial system for the commitment of economic crimes No access
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      1. The environment until 1971 No access
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      2. The three periods for the formation of public international financial law No access
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        The change in the terms of operation of the post-war system No access
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        The increased importance of risk exposure in the financial system No access
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        The emergence of ‘systemic crises’ with international dimensions No access
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        National initiatives to redesign financial systems No access
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      2. Institutional developments in the field of public international financial law No access
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    3. Authors:
      1. General overview No access
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      2. Institutional developments in the field of public international financial law No access
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      1. The recent (2007-2009) international financial crisis No access
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      2. Institutional developments in the field of public international financial law No access
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    5. An assessment No access
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    1. Introduction No access
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      1. Introductory remarks No access
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      2. The G10 No access
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      3. The G7 No access
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      4. The G20 No access
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        Legal characteristics No access
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        Criteria of classification No access
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        The legal nature of international financial standards No access
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        Introductory remarks No access
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        The World Trade Organisation No access
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        The Organisation for Economic Co-operation and Development No access
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        The Bank for International Settlements No access
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    4. Authors:
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        Establishment and membership No access
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        Tasks No access
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        Seat and membership No access
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        Objectives and tasks No access
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        Introductory remarks No access
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        The Plenary No access
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        The Steering Committee No access
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    5. Authors:
      1. Tasks and powers of the IMF No access
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        Introductory remarks No access
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        Methodological tools No access
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      3. The evaluation procedure No access
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      4. The reports of the IMF and the World Bank No access
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      5. Recent developments No access
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      1. The Basel Committee on Banking Supervision No access
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        Establishment, seat and membership No access
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        Objective No access
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        1.2.3 Governance No access
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        Establishment, seat and membership No access
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        Objectives No access
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        Governance No access
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        Establishment, seat and membership No access
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        Objective No access
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        Establishment, seat and membership No access
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        Objectives No access
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      1. Establishment, seat and membership No access
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      2. Objectives No access
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      3. Governance No access
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      1. Establishment, seat and membership No access
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      2. Objectives No access
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      3. Governance No access
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      1. Establishment, seat and membership No access
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      2. Objective No access
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      3. Governance No access
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    6. Authors:
      1. Establishment, seat and membership No access
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      2. Objective No access
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      3. Governance No access
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      1. Establishment, seat and membership No access
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      2. Objectives No access
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      3. Governance No access
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    1. Authors:
      1. Establishment and seat No access
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        Initial membership No access
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        Expansion of membership in 2009 No access
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        National central banks No access
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        National administrative (supervisory and regulatory) authorities No access
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      3. Authors:
        Legal nature of the Basel Committee No access
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        Legal nature and impact of the rules of Basel Committee No access
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    2. Authors:
      1. Introductory remarks No access
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        Recourse of banking supervisory authorities to international cooperation No access
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        Exchange of views among members No access
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        Cross-border supervisory issues No access
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        Standard-setting on issues of banking regulation No access
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        Core minimum regulatory and supervisory practices No access
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        Reorganisation, resolution and winding-up of international banks No access
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        Deposit guarantee systems No access
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        Subject-area outside the reach of the Basel Committee No access
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        The reports of the Basel Committee No access
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        Promotion of the creation of an informal world forum of banking supervisors No access
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      3. Authors:
        Competitive equality between international banks No access
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        Competitive equality between international banks and international investment firms No access
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        Introductory remarks No access
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        Bank accounting No access
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        Combating the use of the financial system for the commitment of economic crimes No access
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    3. Authors:
      1. Introductory remarks No access
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      2. The Standards Implementation Group No access
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      3. The Policy Development Group No access
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      4. The Accounting Task Force No access
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      5. The Basel Consultative Group No access
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1. 1. Authors:
    1. Authors:
      1. General remarks No access
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      2. Authors:
        Comprehensive view No access
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        Global systemically important banks (G-SIBs): Evaluation methodology and loss-absorption requirements No access
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        Resolution of systemically important banks No access
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    2. Authors:
      1. Overall examination No access
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      2. Authors:
        Code of Good Practices on Transparency in Monetary and Financial Policies No access
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        Code of Good Practices on Fiscal Transparency No access
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        Special Data Dissemination Standard and General Data Dissemination System No access
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      3. Authors:
        Principles for Effective Insolvency and Creditor Rights Systems No access
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        Principles of corporate governance No access
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        International Financial Reporting Standards (IFRS) No access
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        International Standards on Auditing (ISA) No access
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        Principles for financial market infrastructures No access
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        Forty (40) Recommendations and nine (9) Special Recommendations on Money Laundering and Terrorist Financing No access
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        Core Principles for Effective Deposit Insurance Systems No access
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      4. Authors:
        Core Principles for Effective Banking Supervision No access
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        Objectives and Principles of Securities Regulation No access
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        Insurance Core Principles No access
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  2. Authors:
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      1. Introductory remarks No access
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        Extension of regulation and oversight to all systemically important financial institutions, instruments and markets No access
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        Improvement of accounting standards No access
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        Oversight of credit rating agencies No access
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        Standardisation of credit derivatives markets No access
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        Enhancement of micro- and macro-prudential banking regulation No access
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        Micro-prudential supervision of international financial firms and other issues pertaining to international financial cooperation No access
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        Macro-prudential oversight of the financial system No access
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        Compensation systems No access
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        Tax havens and non-cooperative states No access
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      3. Implementation of the decisions taken No access
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      1. Introductory remarks No access
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        Strengthening banks’ prudential regulatory system No access
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        Reforming compensation practices to support financial stability No access
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        Improving over-the-counter derivatives markets No access
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        Addressing cross-border resolutions and systemically important financial institutions No access
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        Adjusting accounting standards No access
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        Addressing non-cooperative states and combating economic crime in the financial system No access
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        The financial system’s contribution toward paying for any burdens associated with governmental interventions to repair the banking system’s stability No access
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    3. The G20 Seoul Summit No access
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    4. The G20 Cannes Summit No access
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  3. Current supervisory and regulatory developments at international level: the Progress Report of the Financial Stability Board No access Pages 226 - 238
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      1. The original Basel Concordat (1975) No access
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      2. The revised Basel Concordat (1983) No access
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      3. Authors:
        The “Information flows between banking supervisory authorities” report (1990) No access
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        The “Minimum standards for the supervision of international banking groups and their cross-border establishments” report (1992) No access
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        “The Supervision of Cross-border Banking” report (1996) No access
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    2. Authors:
      1. Prudential supervision of international banks’ foreign branches No access
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      2. Authors:
        Division of responsibilities No access
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        In detail: the principle of exercising supervision on a consolidated basis No access
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      3. Prudential supervision of banking joint ventures No access
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    3. Authors:
      1. Authors:
        Overall examination of recommendations No access
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        Conditions for authorisation of foreign establishments of international banks No access
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        Parent supervisory authorities No access
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        Host supervisory authorities No access
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        Removal of secrecy constraints No access
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        The role of external auditors No access
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      2. Authors:
        The four minimum standards of supervision No access
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        Obligations of host supervisory authorities No access
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      3. The 1996 report No access
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      1. The Basel Committee reports constituting the sources of ‘Basel III’ No access
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        Introductory remarks No access
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        Initial provisions No access
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        Amendment to the Basel Capital Accord (1996) No access
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        ‘Basel II’ No access
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        The causes of the recent international financial crisis and the rationale behind the 2010 reform No access
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        The impact of the crisis and the Basel Committee’s reaction No access
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        Portfolio for calculation No access
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        The original provisions No access
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        The provisions of the New Accord No access
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        Level of capital requirement No access
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        Portfolio for calculation No access
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        Position risk No access
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        Foreign exchange risk No access
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        Risk from open positions in commodities No access
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        Position risk No access
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        Foreign exchange risk No access
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        Risk from open positions in commodities No access
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        Capital requirements for operational risk No access
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      2. Authors:
        The main definition of own funds No access
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        The alternative definition of own funds No access
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        The provisions of Pillar II No access
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        The provisions of Pillar III No access
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        Systematic classification No access
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        Rules on banks’ minimum regulatory capital No access
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        Essential provisions No access
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        Implementation schedule No access
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        Leverage ratio No access
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        Content of the ratio No access
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        Implementation schedule No access
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        Liquidity ratios No access
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        Introductory remarks No access
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        Liquidity coverage ratio No access
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        Net stable funding ratio No access
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        Tools for the supervisor’s monitoring of liquidity risk No access
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        Implementation schedule No access
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        Introductory remarks No access
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        Capital conservation buffer No access
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        Content of the capital conservation buffer No access
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        Implementation schedule No access
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        Countercyclical buffer No access
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        Content of the buffer No access
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        Implementation schedule No access
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        Introductory remarks No access
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        Common equity Tier 1 capital No access
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        Additional Tier 1 capital No access
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        The rules on Tier 2 capital No access
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        Specific provisions No access
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      2. New quantitative limits No access
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      3. Implementation schedule No access
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      1. Introductory remarks No access
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      2. Benefits and costs from the phasing-in of the new rules No access
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      3. Risks from implementation of the new rules No access
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      4. The problem of competitive equality No access
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    1. Introductory remarks No access
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    2. The true meaning of ‘financial system deregulation’ No access
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    3. The gaps and ineffectiveness of the existing framework No access
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  2. The future of public international financial law No access Pages 286 - 290
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SECONDARY SOURCES No access Pages 291 - 314
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INTERNET ADDRESSES No access Pages 315 - 315
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