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This study aims to (1) measure the financial sustainability ratio (FSR) of banks in Indonesia During the pandemic covid 19; (2) test the impact of the implementation of POJK No. 11/2020 concerning National Economic Stimulus as a counter-cyclical policy impact pandemic covid 19 to FSR banking. The study used 38 conventional commercial banks in Indonesia with an observation period of 36 months, calculated from 1 year before the implementation of POJK No. 11/POJK.03/2020 and 1 year after implementation. The data analysis method used a non-parametric Wilcoxon signed rank test. The study results indicate significant differences in the financial sustainability ratio of conventional commercial banks in Indonesia before and after implementing POJK No.11/2020. The average FSR calculation after policy implementation is lower than before implementation. This indicates that the restructuring policy has not been able to improve bank performance which has an impact on increasing the sustainability ratio. The results study this expected to contribute significantly to bank managers, Bank Indonesia, and the Financial Services Authority. The results of this study can be used as a base evaluation effectiveness application of policy government. For Bank Indonesia, the results study could be used to design a policy that could increase banking FSR due to the Covid-19 pandemic. [ABSTRACT FROM AUTHOR]

Over the past few years, artificial intelligence (AI) and machine learning (ML) have become increasingly important in central banks' policy-making and monetary policymaking processes. The global financial crisis of 2008-2009, the COVID-19 pandemic, as well as various other episodes of high economic uncertainty since the turn of the millennium have adjusted central banks to a number of serious challenges and have led to the expansion of these mandates and emerging and exploiting new and extensive data. The study briefly notes on this as a big database (big data) and applications of AI/ML-based techniques that can provide support on monetary policy decisions, especially during times of uncertainty in the economy, referring to the latest research in this area. Also, concrete examples based on the creation of big data and AI/ML techniques applied in the activities of the European Central Bank and other central banks in Europe and the rest of the world are considered and analyzed. The analysis reveals that big data and AI/ML methods have demonstrated successful utility in conducting monetary policy by central banks. Although useful as a complement, these tools cannot be regarded as replacements for conventional data and methods due to issues related to statistics, the ability to interpret outcomes and ethical dilemmas. [ABSTRACT FROM AUTHOR]

The proposed analysis investigates whether the type of central banks' monetary policy mandates and their financial stability governance arrangements influence the adoption of climate-related financial policies. The empirical findings confirm a statistically significant relationship between a broader monetary policy mandate and the adoption of climate-related financial policies. However, the hypothesis – informed by existing literature – that a more integrated financial stability governance model would imply a higher adoption of climate-related financial policies is not confirmed. Focusing on G20 countries in 2000–2018, the study reveals that a more complex financial stability governance based on less integrated arrangements is more successful for climate-related financial policy adoption. Other factors, such as the presence of a democratic regime, the independence of the central bank, and being a member of the Sustainable Banking Network, have a positive and (statistically) significant effect across all specifications. Moreover, the materialization of climate-related physical risks such as, e.g., floods, heatwaves, droughts, and storms, and transition risks proxied by – among others – CO2 emissions per capita, climate mitigation policies, and financial readiness to implement climate adaptation plans are also essential. The results are robust after considering a different dependent variable and several alternative model specifications. [ABSTRACT FROM AUTHOR]

This paper analyses whether European Central Bank (ECB) unconventional monetary policy (UMP) shocks contribute to the emergence of the global financial cycle. Using large-scale global VAR models, I assessed the possible effects of ECB UMP on financial and macroeconomic conditions in emerging markets and documented the channels through which potential spillovers occur, focusing on cross-border banking flows. I found that ECB UMP influences decisions made in the euro area (EA) banking system, leading to an increase in banking outflows. In turn, the rise of inflows to emerging market economies (EMEs) results in a significant response by financial variables, proving that ECB UMP is a driver of the financial conditions in EMEs. While these results represent general trends, there is evidence of cross-regional heterogeneity. [ABSTRACT FROM AUTHOR]

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This paper investigates how banks adjust their business model amid rising global economic uncertainty. Specifically, we analyze the effect of economic policy uncertainty (EPU) on banks' non-interest income activities, using a large panel dataset of 3913 banks operating in 9 countries over the period 2009–2018. We find no statistically significant effect of EPU on banks' net non-interest income (NNII). Further analysis shows that the lack of impact on NNII is due to a reduction in gross non-interest income which was offset by a decrease in gross non-interest expenses. Our results also suggest that the likelihood of banks to diversify income amid high EPU is conditional on the negative interest rate environment. • We investigate the effects of Economic Policy Uncertainty (EPU) on banks' non-interest income activities. • We show that a high EPU has no significant effect on the net non-interest income of banks. • We find that the absence of effect comes from a reduction in gross non-interest expense. • Finally, the likelihood of banks to diversify income amid high EPU is conditional on the negative interest rate environment. [ABSTRACT FROM AUTHOR]

Copyright of Listy Cukrovarnicke a Reparske is the property of VUC Praha a.s. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

In this article, we present the impact of the monetary policy stance of the European Central Bank (ECB) since 2007 on bank lending in the euro area and compare the effects of the main measures: interest rate changes, liquidity provision, and asset purchase programmes. We also analyse the channels through which monetary policy might influence the banking system and narrow our focus to the individual countries. The main results indicate stimulating impact of ECB's policy stance on bank lending that extends its influence mainly through interest rate cuts further supported by the liquidity provision and asset purchase programmes. However, we also find considerable differences across the member states, often depending on the state of the banking system and loan demand in the member state. The results support the variety of monetary policy measures introduced by the ECB, as each played its own role in supporting the banking system and encouraging bank lending in the euro area. [ABSTRACT FROM AUTHOR]

The aim of this article is to investigate the impact of bank liquidity risk and unemployment on credit risk in the South African banking sector. The panel data analysis approach is used, primarily employing the dynamic generalized method of moments model to examine 12 Banks in South Africa from 2009 to 2019. The results showed that credit risk is positively related to unemployment while, the relationship between credit risk and bank liquidity is negative in line with theory. The findings in this article may enhance bank policy formulation. Since credit and liquidity risk are a major source of risk that banks face especially in terms of stringent regulatory oversight and policy debate, this paper contributes significantly in the methods that central banks need to undertake to monitor and supervise the banking sector on liquidity and credit risks in time of crisis. Furthermore, employment is one critical economic fundamental in developing or emerging markets, the analysis of the nexus between employment and credit risk likewise provided important insights especially in time were the world is facing the COVID-19 pandemic. [ABSTRACT FROM AUTHOR]

Copyright of Social & Economic Studies is the property of University of the West Indies - Mona and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

• The legal grounding for habitat banking in Spain is well established in national legislation. • Developing the guidelines for habitat banking implementation has been a haphazard process, with few actors involved, and currently at a standstill. • Habitat banking has been challenged by many civil society groups on the grounds of its market-based approach and complicated procedures. • Habitat banking might be difficult to implement given the lack of ecological data, technical skills and political willingness. • The Spanish case illustrates that even well-resourced states can fail to implement market-based conservation. Habitat banking has gained traction in recent years as a means to compensate for the unavoidable environmental impacts of development projects through the exchange of so-called biodiversity offsets. Analyses of the ideological foundations and operational challenges of habitat banking exist, but there has been far less scholarship on the policy processes leading to the establishment of such schemes. Habitat banking is a controversial policy instrument, which has encountered opponents and proponents in most places where it has been implemented. Drawing on semi-structured interviews and participant observation conducted from 2014 to 2018, we analyse the development of habitat banking policy in Spain. We show who was included or excluded from the policy making process, and we highlight the arguments put forward by different actors to contest or support habitat banking more generally. We show that the process was opaque and non-inclusive, driven by a small constituency of actors who sought to create investment opportunities for biodiversity conservation on private lands, and was grounded on a false social consensus which concealed alternative understandings of how environmental impacts should be addressed. We also demonstrate that the current delay in producing the guidelines can be explained by three circumstances. First, habitat banking was challenged by many civil society groups on the grounds of its market-based character. Second, necessary data was not available or accurate enough to devise effective habitat banks, with ecological metrics involved in quantifying offsets seen as too subjective. And third, key implementation actors lacked capacity and political will. The Spanish standstill highlights the struggles and difficulties that even well-resourced states can face when establishing rules for habitat banking and the trade in biodiversity offsets. [ABSTRACT FROM AUTHOR]

The aim of this study is to examine the behaviour of central banks in managing their foreign exchange reserves. This includes measuring the effects of macroeconomic fundamentals on intervention and the effectiveness of intervention in managing exchange rates. First, the paper focuses on measuring central bank reaction functions to assess the response of central banks to exchange rate volatility in both emerging (EE) and advanced economies (AE). Then, it proposes an alternative approach for the closest obtainable approximation for official intervention. Finally, the Propensity Score Matching (PSM) technique is applied to test whether the proposed foreign exchange intervention has causal effects on exchange rates. Results show that central banks in both EE and AE respond more aggressively to an exchange rate appreciation. Data from official foreign reserves provide enough evidence for detecting policy changes and reveal central bank intervention. The intervention model is improved once we include other central bank incentives such as sterilisation, trade balance and the growth of reserves in relation to the growth of output. PSM results show that the central bank interventions are meaningful, and they provide evidence of causal inference for the behaviour of exchange rates in EE. [ABSTRACT FROM AUTHOR]

Green banking frameworks encourage banks to manage their in-house operations and lend and invest in an environmentally sustainable manner. There are at present six nations in Asia that have a green banking framework - Bangladesh, Cambodia, China, Indonesia, Mongolia and Vietnam. Each of the six countries have distinctive green banking policies and frameworks suited to their own national agendas. This article aims to provide a summary of the main green banking frameworks issued by each country's respective regulatory authority or banking association and possible reasons why these six countries have established such a framework. It then focuses specifically on the framework and banking policies practiced in Bangladesh and China, given their experience and strong establishments. The effects of introducing green banking frameworks and policies in Bangladesh and China are also accessed. The article then concludes with recommendations on what more can be done to enhance green banking in Bangladesh and China. [ABSTRACT FROM AUTHOR]

This article identifies the various facets of diversity within the macroprudential institutional setting and decision-making process. These dimensions are then used as a benchmark to assess the diversity techniques adopted in the legal and institutional framework of the Financial Policy Committee (FPC) and identify potential pitfalls and weaknesses. It concludes with the suggestion that, in order to deliver meaningful diversity that encourages genuine deliberation in macroprudential decision-making, a nuanced and non-monolithic approach is needed. This means going beyond the heterogeneous composition of the macroprudential authority and considering a variety of factors such as the decision-rule, the facilitative rather than autocratic role of the chair and the transparency of dissenting viewpoints. By taking this approach, diversity can guard against groupthink and dissipate other inherent biases in the macroprudential decision-making process. [ABSTRACT FROM AUTHOR]

Regulatory changes (GLBA and IBBEA) allowed banks to operate across state lines and consolidate with investment banks, security firms, and insurance companies. Furthermore, banks were in the middle of a transitionary period where many consumers altered their way of conducting business. Consumers were less limited by geographic location and enjoyed greater convenience. This paper examines the 181 US Bank failures that occurred in one calendar year following the 2008 financial crisis. Using survival analysis, banks founded after deregulation experienced lower failure rates as will banks with higher industry concentration and higher environmental munificence. [ABSTRACT FROM AUTHOR]

This legal analysis compares the new German minimum requirements for the governance of insurance companies (MaGo) with the minimum requirements for risk management (MaRisk) for banks and the draft of a forthcoming update. Main areas have been formulated in a similar way. However, there are also differences, e.g. for the compliance functions. Further important aspects are the minimum requirements for the IT of banks which have been under consultation since March 2017. [ABSTRACT FROM AUTHOR]

The goal of the article is to verify the credibility of time contingent Forward Guidance (FG) as well as its possible time-inconsistency based on the rarely addressed example of the National Bank of Poland (NBP). The NBP's FG constitutes a unique case study as this measure in its 'Odyssean' form was not introduced to overcome the limits of further policy rates cuts. It allowed us to verify the FG's credibility and time-inconsistency by applying OLS and GMM estimated contemporaneous and forward looking Taylor type rules with interest smoothing. Our empirical evidence reveals that the annual period of FG in Poland was perceived as a credible promise by consumers. We found that time-consistency could have been an additional factor enhancing the considerable credibility of FG. The satisfying results of the NBP's FG appear to be especially interesting, in particular, when contrasted with the often unfavourable experience with time-contingent FG of prominent central banks. We suppose that to achieve this, the central bank should act with caution and the NBP indeed did so by specifying carefully the short horizon of the commitment to be able to abandon FG when the circumstances change. We also discuss FG by opposing its advantages and the drawbacks indicated in the subject literature. [ABSTRACT FROM AUTHOR]

The 2008 Global Financial Crisis has set the pursuit of financial stability as the apex objective of financial regulation. Fostering a culture of responsible bank rescue will serve the interests of financial stability. This contribution provides an overview of the curatorship process as provided for in S.69A of the South African Banks Act 94 of 1990 and how it was reformed to facilitate the rescue of African Bank. [ABSTRACT FROM AUTHOR]

Money kept in house versus money deposited in the bank is a dilemma arising primarily out of fear of losing. To mitigate these risks and to enhance confidence in the banking system, the authorities propose to increas the deposit guarantee ceiling. Experts argue that this is an important measure to increase confidence in the banking sector and believes that this ceiling should be increased to a minimum of 50 thousand lei, while the medium and long term - more than that. Experts estimate based on figures for average wage and GDP per capita, suggesting that banking statistics is not just a basis for calculating real and objective determination of coverage. [ABSTRACT FROM AUTHOR]

The bank deposit policy to raise funds in order to replenish the resource base must simultaneously deal with two problems in the current macroeconomic situation in Russia: the development of new opportunities to raise additional funds and cutting the costs of their raising and allocating. To confirm this hypothesis, the article examined retail deposits as the basis of borrowed resources of commercial banks during the crisis; offered classification of factors influencing the formation of the conditions of offering the line of deposits to individuals. The analysis of the conditions of the Russian and foreign markets for deposit sourcing from individuals in commercial banks was conducted, based on which conclusions were made about the state of the raised resources during the crisis period. The model of formation of the bank deposit base was offered as an active method of control over the bank deposit policy, and the algorithm of the application of this model in the allocation of the premium bonus fund of a commercial bank was developed. [ABSTRACT FROM AUTHOR]

The purpose of this paper is to re-examination about relationship between inflation and economic growth in Indonesia. This paper is based on annual panel-data set including 30 provinces in Indonesia for period 2011-2015. The results of this study indicate that there is a non-linear relationship between inflation and economic growth because there is a structural break point in that relationship. PCSE SUR is used to analyze threshold inflation level in Indonesia. Inflation rate which under the threshold of 4.64% is still a positive influence on economic growth. Meanwhile, the inflation rate above the inflation threshold, will be a negative influence. This result as same as result with using white cross-section coefficient covariance robust with cross-section weight, just different at standard error. Inflation targeting which monetary policy by Bank of Indonesia is below threshold inflation since 2012. This policy is good news for keep economic growth positively increase but Indonesia must take fast decision for monetary policy if inflation is above threshold inflation level. [ABSTRACT FROM AUTHOR]

Effective financial policy design should incorporate design principles encouraging financial activity and innovation while discouraging excessive risk-taking, into an inclusive, environmental approach to financial system governance. Examining banking systems in Australia, Brazil, Canada and China – whose financial systems proved more resilient than those in the US and much of Europe in the recent global financial crisis – helps us to uncover design rules which strengthen the financial environment and enhance financial resilience. In effect, policy-makers in these four countries struck an oligopolistic bargain with their domestic top banks. This bargain established national banking boundaries behind which indigenous national banks developed, protected banks from foreign competition and threat of acquisition, and enabled banks to pursue lower risk banking business. In return, banks acted as stewards of their financial environments. This bargain recognized the interlinked, network nature of financial risk and integrated governmental regulation with private actor governance structures. [ABSTRACT FROM AUTHOR]

This article looks at current interest in banking culture, using the FCA's controversial decision to shelve its Thematic Review in this sphere to chart how regulators' interest in culture specifically became fashioned from a more generalised concern about misconduct in the wake of the global financial crisis. In insisting banking culture should remain prominent in UK regulatory approaches, the article introduces research undertaken on Australian regulators' engagement with culture. [ABSTRACT FROM AUTHOR]

One of the most important features of the BRRD is the hail-in tool. In view of the profound impact of this tool on the claims and rights of the institution s creditors, it is key to determine its exact scope. This article focusses on the exception from bail-in for secured liabilities, particularly in the context of liquidity funding to institutions in difficulty. [ABSTRACT FROM AUTHOR]

Copyright of Nova Economia is the property of Nova Economia and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The Central Bank of Nigeria issued a competency framework for the Nigerian banking industry which came into full effect from November 2014. The policy recognises that banks should accord priority to the enhancement of human capital. This article discusses the framework, analysing its prospects at solving the problems of incompetency in the human capital of banks in Nigeria. [ABSTRACT FROM AUTHOR]

Banking crisis, as well as the interventionist assistance of governments to stabilize their economies have generated controversies among the experts in the field. The purpose of this article is to determine the impact of rescue measures on bank profitability. For this purpose we developed a panel consisting of 81 european commercial banks that captures the relationship between bank profitability and state intreventions policies. We explore a large set of bank-level, macroeconomic and market variables during q42008-q42013 period. As far as we know this topic isn't covered in commercial banking empirical standpoints. In order to highlight the evolution of profitability we use specific banking variables, market structure and macroeconomic factors. There are two theories about the interventions of governments in banking sector - the first one involves a positive effect of rescue measures due to improvement of banks' profitability ratios and charter value and the second which involves a negative effect as a result of increased risk-taking. We find a positive relationship between state intervention policies and profitability in European banking sector during q42008-q42013 period. Our results suggest that on short term (5 years) dominate the positive effects. [ABSTRACT FROM AUTHOR]

This Article examines the regulatory challenges raised by recent, overlooked changes in insurance markets that have led to a functional convergence between insurance and the broader financial sector. The law literature on financial regulation last addressed the issue of convergence over a decade ago, before the latest generation of market innovation and at a time when concern over systemic stability was not at the forefront. This Article revisits the convergence phenomenon in the context of insurance, and does so by applying an analytical framework that distinguishes between two "boundary problems" that accompany all financial regulation. One problem concerns jurisdictional boundaries: to what degree does market integration require that diverse regulations be harmonized across jurisdictions? The other relates to definitional boundaries: within a given jurisdiction, how should distinctions be drawn among financial products or firms that have come to perform similar economic functions?. Applying this framework leads to two conclusions that are in tension with the current thrust of policy as well as the literature. First, the Federal Insurance Office established by the Dodd-Frank Wall Street Reform and Consumer Protection Act is inappropriately structured to leverage international harmonization agreements into domestic reforms, whereas the reverse orientation would be more effective. Second, frequent calls for more "functional regulation" fail to appreciate the subtle advantages of retaining formalistic legal definitions, even in the face of increasing economic convergence. Although this Article explains how the two boundary problems raise distinct sets of policy tradeoffs, at bottom both are a product of the possibility for regulatory arbitrage across jurisdictions or industry definitions, and the potential for a loosely regulated shadow finance sector to arise. Here, insurance is used as a case study for finance in general, to demonstrate that regulatory arbitrage can occur along a surprising number of fronts, which compounds the difficulty of obtaining reliable ex ante estimates of a proposed financial regulation's effects. [ABSTRACT FROM AUTHOR]

In this paper we examine the behavior of loans supply by explicitly accounting for the money endogeneity arising from securitization bank's activity. The empirical results with U.S. data provide strong evidence of money supply endogeneity under a regime in which securitization affects monetary transmission mechanism of monetary policy via the bank lending channel. The critical theoretical differences between the three competing approaches to the determination of the money supply are identified in terms of the importance of the private initiatives of banks in accommodating expansions of loans demand by using securitization. Specifically, in this paper we conclude short-run and long-run evidence in favor of structuralism approach. [ABSTRACT FROM AUTHOR]

Changes in banking regulation and control, inherent in the Basel Accord provisions, are one of the sources of innovation in banks. Any changes, both inside and outside an organization, provide business entities with a number of opportunities for further development. In this context, analysis and study of the prospects offered by the introduction of new Basel II, 2.5 and III provisions hold particular importance and relevance. This article provides an overview of the changes in banking regulation, and shows their impact on innovative reforms in the banking sector. [ABSTRACT FROM AUTHOR]

The article discusses a legal framework for financial disintermediation in Nigeria, focusing on issues related to the nation's financial services industry, various categories of financial intermediation, and the expansion of the scope of lawful activities by banks. A universal banking policy is mentioned, along with Nigeria's Investment and Securities Act 2007 (ISA). The U.S. Glass-Steagall Act of 1933 is examined, along with the use of securities to raise capital in Nigeria.

The current geopolitical and international economic situations are changing at a high speed and leading to multi-faceted changes of individual economies. Russia is now experiencing isolation in political and economic spheres, which has led to the assertion of its political position on the international arena. The dead-end relationship between Russia and the West has led to the sanction wars that negatively influence the state and development of the monetary system and the banking sector of the Russian Federation. This work is devoted to the analysis and evaluation of the impact of the sanctions approved by the Western countries against Russia on its monetary and banking systems. [ABSTRACT FROM AUTHOR]

The article discusses regulatory compliance and the costs associated with the U.S. government's financial regulation of the nation's banking industry, focusing on the U.S. Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 which was passed in response to an economic crisis which began in 2008 and a subsequent recession. Bank failures are mentioned, along with the U.S. Congress' enactment of financial laws such as the Truth in Lending Act and the Fair Credit Reporting Act.

This paper identifies the main dimensions of capital regulation. We use survey data from 142 countries from the World Bank's (2013) database covering various aspects of bank regulation. Using multiple explorative factor analysis, we identify two main dimensions of capital regulation: complexity of capital regulation and stringency of capital regulation. We show that even countries with a common legal and regulatory framework differ substantially in terms of capital regulation. For example, the level of stringency of capital regulation varies substantially across the EU countries, potentially distorting the level playing field. [ABSTRACT FROM AUTHOR]

Copyright of Pouvoirs is the property of Editions du Seuil and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The article discusses the future of the banking industry in the European Union (EU). Topics include the European Commission's proposed regulation of the banking industry, the main objectives of the proposed banking reforms, and efforts to ban proprietary trading. Information is provided on the separation of trading activity and the duties of credit institutions.

The article presents a comparative analysis of the role of central banks as last resort lenders, with a focus on fractional-reserve free banking and the central banking system in the U.S. Topics include the effects of the 2008 financial crisis in the banking industry, the concept of a free banking system in a free market, and the effect of government intervention in the monetary system.

After 1989 it was imperative necessary to create specific mechanisms and intruments of a transitional economy, to stimulate the growth of the spirit of responsibility in building the state's financial resources and how they are managed and used to achieve real social protection and efficient economy. Starting the Public Finance treasury in our country has become an objective necessity determined by the implementation of the reform and restructuring of the economy, while the public finances were asked to amplify the role and functions concerning a more efficient management and use of the financial resources of the public sector. By implementing the measures imposed by the reform program in the public finances and the banking system, the role and the attributions of the public finances were fundamentally restructured, based on how the accounting of revenues and expenses was organized and, could not meet the new requirements. The state treasury was necessary for complying with new commands and demands of the finance and tax reform, levers and resources on creating specific financial and budgetary market economy with which the state may favorably influence the country's social and economic development. [ABSTRACT FROM AUTHOR]

An article on the history of the corporate governance of German banks is presented. The authors discuss the changes in ownership structure and representation of shareholder interests since 1950, examine the shortcomings of the corporate governance-based banking regulation systems, and offer information of the changing emphasis of German banks towards capital markets. Other topics of discussion include the increased public awareness of the financial industry, and the increased importance of German investment banking.

An article on banking regulations in the US and Great Britain in the 20th century is presented. The author discusses the corporate governance of the banking industry by state and other entities, describes the trend toward deregulation of banks, and compares the British and US regulatory systems to those in Germany. Other topics of discussion include the ethical aspects of banking regulation, the 2008 financial crisis in the US, and the impact of foreign and offshore banking on the financial industry.

An article on the history of the Japanese banking industry in the 20th century is presented in response to research published by bank historian Alexander Gerschenkron. The author discusses the regulation of the banking industry by state and other entities, examines the influence of the European model on the development of the Japanese banking system, and offers information on the history of the relationship between Japanese banks and the stock market. Other topics of discussion include a comparison between the history of Japanese banks with those in the US, Germany, and France and the prevalence of capitalist banking models and business strategies in Japan.

The article offers information on the financial liberalisation and banking regulation of Tunisia as compared with the Basel II principles. It states that as part of the liberalisation, the government decontrol the interest rates and deregulate the banking industry. It mentions that Central Bank of Tunisia handles management regulation. It states that because of the high level of nonperforming loans, banking regulation must be tightened.

The article discusses the German banking industry, which is composed of banks belonging to the three types, including private commercial banks, savings banks (Landesbanken) subject to great government regulation, and cooperative banks, a structure unique to Germany. This system is compared to the systems in Italy and France, where bank mergers often involve banks of different types, whereas in Germany, such mergers have been largely confined to banks of the same type. An historical case-based review of Germany banks of different types cooperating is presenting, including Commerzbank, the Dresdner Bank, and the Landesbank Baden-Württemberg.

Nobel Prize-winning economist Paul Krugman, among others, claims that the current recession and financial meltdown is due to changes in the regulatory structure of banking and finance in the early 1980s. They claim specifically that "free market ideology" spurred on by the presidency of Ronald Reagan brought about the regulatory changes, and, thus, free markets are to blame for our current problems. In this paper, we examine the two main deregulatory acts, the Depository Institutions Deregulation and Monetary Control Act of 1980 and the Garn-St. Germaine Act of 1982. However, we find that both bills had strong bi-partisan political support and were crafted because of problems that had come about in the banking industry because of inflation-caused disintermediation. Ideology had little to do with either bill, we find. [ABSTRACT FROM AUTHOR]