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基本説明
This book studies the consequences of bank regulation in the United States as it relates to competition in international financial markets.
Full Description
In 1933 and 1956, the United States sharply limited the kinds of securities, commercial, and insurance activities banks could engage in. These regulations remain in place despite profound changes in the economic environment, in the structure of the national and international financial markets, and in technology. This book evaluates the case for and against eliminating these barriers.
The authors study the consequences of bank regulation in the US as it relates to competition in international financial markets. They examine universal banking systems in other countries, especially Germany, Switzerland, and the UK, and how they work. They then apply the lessons to US banking, paying particular attention to the benchmarks of stability, equity, efficiency, and competitiveness against which the performance of national financial systems should be measured. They propose a level playing field on which any number of forms of organization can grow in the financial services sector, in which universal banking is one of the permitted structures, and where regulation is linked to function.
Contents
1: Introduction: Banking Structure and Global Competition
2: Measures of Competitive Performance in Global Financial Markets
3: Economics of Scale and Scope Among the World's Largest Banks
4: The Nature of Universal Banking
5: The Risk of Nonbank Activities
6: How Risky Would Universal Banks Be?
7: Universal Banking and Reform of the Financial Safety Net
8: Towards a Rational and Competitive Regulatory Structure
Annex: Summary of Laws Affecting Domestic Activities of Commercial Banks in Major Industrialized Countries
References
Index
