The UK Banking System and its Regulatory and Supervisory Framework
by Gola, Carlo; Roselli, AlessandroFormat: Hardcover
Pub. Date: 2009-03-15
Publisher(s): Palgrave Macmillan
Other versions by this Author
List Price: $140.00
Buy New
Usually Ships in 5-7 Business Days
$139.86
Rent Textbook
Select for Price
Rent Digital
$77.22*
Used Textbook
We're Sorry
Sold Out
How Marketplace Works:
- This item is offered by an independent seller and not shipped from our warehouse
- Item details like edition and cover design may differ from our description; see seller's comments before ordering.
- Sellers much confirm and ship within two business days; otherwise, the order will be cancelled and refunded.
- Marketplace purchases cannot be returned to eCampus.com. Contact the seller directly for inquiries; if no response within two days, contact customer service.
- Additional shipping costs apply to Marketplace purchases. Review shipping costs at checkout.
Summary
This book provides an account of the principal phases in the development of the English banking system, and goes on to analyse the financial structure of the economy of the UK. The book focuses in detail on the regulatory and supervisory aspects of the UK banking system, and the interactions between the structural aspects of the banking and supervisory system.
Author Biography
CARLO GOLA works in the Banking and Financial Supervision of the Bank of Italy, Italy. He received a degree in Economics from University of Modena, Italy, and a Master of Philosopy (M.Ph.) from the University of Oxford. He worked at Centro Studi Economici e Finanziari (IPSOA), at the Istituto per la Ricerca Sociale (IRS) and in research projects financed by the Consiglio Nazionale per le Ricerche (CNR). He has been appointed as Senior Advisor to the Executive Director of International Monetary Fund (IMF). He is author of several articles and working papers in applied economics and banking.
ALESSANDRO ROSELLI spent his whole career at the central Bank of Italy, lastly as chief representative for the United Kingdom. He gained a degree in Law, Rome University, Italy. He has been A.C. Jemolo Fellow at Nuffield College, University of Oxford and is currently visiting fellow at the Cass Business School in London. Among his books: La finanza americana (Laterza, 1995), Il governatore Azzolini (Laterza, 2000), Italy and Albania, Financial Relations in the Fascist Period (I.B. Tauris, 2006).
ALESSANDRO ROSELLI spent his whole career at the central Bank of Italy, lastly as chief representative for the United Kingdom. He gained a degree in Law, Rome University, Italy. He has been A.C. Jemolo Fellow at Nuffield College, University of Oxford and is currently visiting fellow at the Cass Business School in London. Among his books: La finanza americana (Laterza, 1995), Il governatore Azzolini (Laterza, 2000), Italy and Albania, Financial Relations in the Fascist Period (I.B. Tauris, 2006).
Table of Contents
| List of Tables and Figures | p. ix |
| Preface | p. xi |
| Acknowledgements | p. xvii |
| List of Acronyms | p. xviii |
| Banking and Financial Markets | |
| The Structure of the Banking System Between the 1960s and the 1980s | p. 3 |
| A fragmented banking system | p. 4 |
| The 1970s: more competition, secondary banks' crisis, the Banking Act 1979 | p. 11 |
| The 1980s: further into statutory bank supervision: the Banking Act 1987 | p. 13 |
| The capital markets: the Big Bang, the Financial Services Act 1986 | p. 15 |
| The UK's Financial Structure and Economic Sectors | p. 19 |
| The economy's financial deepening and its implications | p. 20 |
| The evolution of households' balance sheets | p. 26 |
| The financial structure of the non-financial corporate sector | p. 33 |
| The role of the financial sector in external balance | p. 39 |
| The Development of Private Pension Schemes and the Pension Reform | p. 48 |
| The problem in an historical context | p. 48 |
| The revision of the pension system | p. 53 |
| The Configuration of the Banking System in the last 15 Years | p. 57 |
| The banking system: structure, conduct, performance | p. 58 |
| Steps to strengthen competition in the domestic market | p. 63 |
| The foreign banks and the role of the City | p. 68 |
| Fund management and the hedge funds | p. 72 |
| Private equity | p. 75 |
| The Stability of the British Banking Sector | p. 80 |
| A long-run perspective | p. 81 |
| Banking crisis in the 1990s | p. 84 |
| Monitoring financial stability and stress testing | p. 87 |
| Markets and Market Infrastructures: Institutional and Prudential Aspects | p. 97 |
| Stock exchanges and the OTC derivatives market | p. 98 |
| Recent developments in wholesale banking markets | p. 105 |
| The market for credit risk transfer | p. 107 |
| The payment system and the role of settlement banks | p. 113 |
| The sterling money market and liquidity management | p. 115 |
| The Sub-prime Mortgage Market Crisis and Its Effects on the UK Banking Sector | p. 120 |
| The Legal and Regulatory Framework | |
| The New Regulatory Framework: The Financial Services Authority | p. 133 |
| An overview | p. 134 |
| Different supervisory systems | p. 137 |
| Financial reform (1997-2001): the FSA and the FSMA | p. 143 |
| Objectives, principles and responsibilities of the FSA | p. 146 |
| Scope of the FSA's power and the nature of its legislative function | p. 152 |
| The FSA's supervisory style | p. 154 |
| Crisis management tools: institutional aspects | p. 158 |
| Retail banking: the residual role of self-regulation, the Consumer Credit Act and the Financial Ombudsman Service | p. 162 |
| The Combined Code of Corporate Governance | p. 165 |
| The Competition Act (1998) and Related Regulatory Frameworks | p. 170 |
| The regime proceeding the reform | p. 170 |
| The Competition Act 1998 and the Enterprise Act 2002 | p. 174 |
| Conclusions | p. 179 |
| Notes | p. 184 |
| References | p. 209 |
| Index | p. 219 |
| Table of Contents provided by Ingram. All Rights Reserved. |
An electronic version of this book is available through VitalSource.
This book is viewable on PC, Mac, iPhone, iPad, iPod Touch, and most smartphones.
By purchasing, you will be able to view this book online, as well as download it, for the chosen number of days.
Digital License
You are licensing a digital product for a set duration. Durations are set forth in the product description, with "Lifetime" typically meaning five (5) years of online access and permanent download to a supported device. All licenses are non-transferable.
More details can be found here.
A downloadable version of this book is available through the eCampus Reader or compatible Adobe readers.
Applications are available on iOS, Android, PC, Mac, and Windows Mobile platforms.
Please view the compatibility matrix prior to purchase.