Regulating the Financial Sector in the Era of Globalization: by Z. Mikdashi

By Z. Mikdashi

The world's monetary panorama is remodeling as economies develop into more and more interdependent. In Regulating the monetary quarter within the period of Globalization , Zuhayr Mikdashi examines the position of public gurus and of commercial executives within the prevention, moderation, containment and determination of monetary difficulties. The e-book includes a foreword by means of William C. Hunter, Senior vp and Director of study on the Federal Reserve financial institution of Chicago.

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5) Ensuring the integrity of the corporation’s accounting and financial reporting systems, including the independent audit, and that appropriate systems of control are in place, in particular, systems for monitoring risk, financial control, and compliance with the law. (6) Monitoring the effectiveness of the governance practices under which it operates and making changes as needed. (7) Overseeing the process of disclosure and communications. E. The board should be able to exercise objective judgement on corporate affairs independent, in particular, from management.

Dictions, when calculating corporate taxable income, interest paid is deductible but not dividends paid). Banks tend to hold a small fraction of their callable deposits in liquid assets or cash (since these assets produce moderate income or no income at all) and employ the balance in illiquid assets. This phenomenon of funding illiquid loans of various maturities with liquid claims is often referred to as a ‘liabilities/assets’ mismatch in duration. This makes banks vulnerable to the loss of depositor trust, which could lead to the sudden large withdrawal of funds.

This makes banks vulnerable to the loss of depositor trust, which could lead to the sudden large withdrawal of funds. Interdependence and contagion. Banks are closely interconnected. They have inter-bank lending (without collateral), syndicated loans, joint clearing and settlement mechanisms, counter-party operations (for example, in foreign exchange transactions, or in over-thecounter (OTC) derivatives), agency relations, joint ventures, securities trading and other relations. The losses of a defaulting bank could spread through the payment and settlement system, and are thus bound to have an instantaneous impact on other banks in the system, leading eventually to their default.

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