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E-Aggregation: The Present and Future of Online Financial Services in Asia-Pacific

Fujii, Hiroshi; Okano, Taeko; Madnick, Stuart; Siegel, Michael
Fonte: MIT - Massachusetts Institute of Technology Publicador: MIT - Massachusetts Institute of Technology
Tipo: Trabalho em Andamento Formato: 234766 bytes; application/pdf
EN_US
Relevância na Pesquisa
36.32%
Many financial institutions have built websites to inform and attract customers. Financial aggregation present an opportunity by which they can build stronger relationships with customers. For example, financial account aggregation services began in the United States but are now widely used by in other countries. In this paper, we first classify aggregator types and their method for implementing their service. Second, we explain the differences between financial account relationship aggregation services in the U.S. and in Asia-Pacific countries. We then discuss the status of financial comparison aggregation services and related issues. Owing to the popularity of WAP phones and mobile phone service in Asia-Pacific, we will also look into the development of mobile aggregation services. Finally, we examine future directions for aggregators in conjunction with universal and global banking concepts

Analyzing Banking Risk : A Framework for Assessing Corporate Governance and Risk Management, Third Edition

Van Greuning, Hennie; Brajovic Bratanovic, Sonja
Fonte: World Bank Publicador: World Bank
Relevância na Pesquisa
46.42%
This publication aims to complement existing methodologies by establishing a comprehensive framework for the assessment of banks, not only by using financial data, but also by considering corporate governance. It argues that each of the key players in the corporate governance process (such as shareholders, directors, executive managers, and internal and external auditors) is responsible for some component of financial and operational risk management. Following a holistic overview of bank analysis in chapter two, the importance of banking supervision in the context of corporate governance is discussed in chapter three. This chapter also considers the partnership approach and the emerging framework for corporate governance and risk management, as well as the identification and allocation of tasks as part of the risk management process. The framework for risk management is further discussed in chapters four through eleven.

Related Lending and Banking Development

Cull, Robert; Haber, Stephen; Imai, Masami
Fonte: Banco Mundial Publicador: Banco Mundial
Relevância na Pesquisa
46.42%
Does related lending have positive or negative effects on the development of banking systems? This paper analyzes a unique cross-country data set covering 74 countries from 1990 to 2007, and finds that related lending, on average, does not have any effect on the growth of credit. The authors do find, however, that there are conditional relationships: related lending tends to retard the growth of banking systems when rule of law is weak, while it tends to promote the growth of banking systems when rule of law is strong. They also find that related lending appears to be associated with looting when banks are owned by non-financial firms, but that it does not when non-financial firms are owned by banks. The results indicate that whether related lending is positive or pernicious depends critically on the institutional context in which it takes place; there is no single "best policy" regarding related lending. These findings are robust to alternative specifications, including instrumental variable regressions.

Bank Activity and Funding Strategies : The Impact on Risk and Returns

Demirgüç-Kunt, Asli; Huizinga, Harry
Fonte: Banco Mundial Publicador: Banco Mundial
Relevância na Pesquisa
36.36%
This paper examines the implications of bank activity and short-term funding strategies for bank risk and returns using an international sample of 1,334 banks in 101 countries leading up to the 2007 financial crisis. Expansion into non-interest income generating activities such as trading increases the rate of return on assets, and it may offer some risk diversification benefits at very low levels. Non-deposit, wholesale funding, by contrast, lowers the rate of return on assets, although it can offer some risk reduction at commonly observed low levels of non-deposit funding. A sizeable proportion of banks, however, attract most of their short-term funding in the form of non-deposits at a cost of enhanced bank fragility. Overall, banking strategies that rely prominently on generating non-interest income or attracting non-deposit funding are very risky, which is consistent with the demise of the U.S. investment banking sector.

Brazil : The Industry Structure of Banking Services

World Bank
Fonte: Washington, DC Publicador: Washington, DC
EN_US
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46.55%
Understanding the industry structure of banking services in Brazil is an important task both for the financial community at large and for country specialists. The Brazilian financial system is the largest and most sophisticated in Latin America. This study is organized into five sections after the introduction, in line with the main analytical building blocks, and complemented by appendices that describe methodological aspects in more detail. Section 2 presents some stylized facts on the Brazilian banking system and compares it to a peer group of countries. Section 3 describes and presents the results of the industrial organization perspective (indirect approach). Section 4 presents the methodology and results -- including sensitivity analysis -- of the direct approach. Section 5 identifies and discusses the characteristics and main drivers of revenues, costs and risks by market segment, while Section 6 concludes and presents policy implications.

Financial Sector Assessment Program : Brazil - Basel Core Principles for Effective Banking Supervision

International Monetary Fund; World Bank
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
EN_US
Relevância na Pesquisa
36.57%
Brazil has a well-defined banking supervision process supported by a legal framework that grants the Banco Central do Brasil (BCB) broad enforcement powers for corrective action and weak bank resolution. This assessment of the Basel Core Principles (BCP) for effective supervision was conducted from February 27 through March 20, 2012. As agreed with the authorities, the supervisory framework was assessed against the BCP methodology issued by the Basel Committee on Banking Supervision (BCBS) in October 2006. In self-assessment the authorities addressed both essential and additional criteria and the assessors based their conclusions on compliance with both criteria. The last BCP assessment was conducted in 2002, however, the grading is not comparable to this assessment as the principles and methodology were revised in 2006. Although the BCB operates on an independent mode, there are amendments to Law 4595-1964 (banking law) that will aid in protecting the continuation of the operational independence.

Financial Sector Assessment Program : Nigeria - Basel Core Principles for Effective Banking Supervision

International Monetary Fund; World Bank
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
EN_US
Relevância na Pesquisa
46.44%
The assessment of the current state of the implementation of the Basel Core Principles (BCP) for effective banking supervision in Nigeria, against the BCP methodology issued by the Basel Committee on Banking Supervision (BCBS) in October 2006, was completed between August 27 and September 19, 2012, as part of a Financial Sector Assessment Program (FSAP) update, undertaken jointly by the Fund (IMF) and the World Bank, and reflects the regulatory and supervisory framework in place as of the date of the completion of the assessment. An assessment of the effectiveness of banking supervision requires a review of the legal framework, both generally and as specifically related to the financial sector, and a detailed examination of the policies and practices of the institutions responsible for banking supervision. Banking systems differ from one country to another, as do their domestic circumstances. The BCPs are capable of application to a wide range of jurisdictions whose banking sectors will inevitably include a broad spectrum of banks. The co-ordination of the activities of the Nigerian banking sector supervisory authorities is conducted under the aegis of the Central Bank of Nigeria (CBN)/Nigeria Deposit Insurance Corporation (NDIC) executive committee on supervision which should ensure that operations of the two supervisory authorities are coordinated to remove overlaps...

Financial Sector Assessment : Saudi Arabia

World Bank
Fonte: Washington, DC Publicador: Washington, DC
EN_US
Relevância na Pesquisa
36.36%
The capacity of the banking sector to respond to macroeconomic shocks, and regional uncertainties have been strengthened considerably over the past decade. Historically, the operating environment has been volatile as a result o f pervasive dependence on the hydrocarbon sector and swings in investor confidence associated with uncertainty in the region. This experience has helped shape fairly risk-averse portfolios: the bank-led financial system has functioned with substantial capital-adequacy ratios (CAR), loan-loss provisions, and liquidity buffers. The sector is highly profitable, with returns on assets averaging above 2 percent, supported by a large, low-cost demand deposit base. These buffers are underpinned by an effective regulatory and supervisory structure that proactively contains risk taking through the use o f maximum loan-deposit ratios, caps on individual and corporate indebtedness, and pre-approval requirements on foreign lending. The sector is supported by a modem and efficient payment and settlement infrastructure.

World Bank Research Digest, Vol. 4(3)

World Bank
Fonte: Washington, DC Publicador: Washington, DC
EN_US
Relevância na Pesquisa
36.51%
In this issue: what constrains Africaapos;s exports? Focus; economic shocks and labor market outcomes; why have developing-country data on real incomes been revised so much? What does the financial crisis teach us about different banking models? Density and disasters: economics of urban hazard risk; and how financial crises in donor countries affect aid.

Bulgaria Detailed Assessment of Observance

International Monetary Fund; World Bank
Fonte: Washington, DC Publicador: Washington, DC
Tipo: Relatório
EN_US
Relevância na Pesquisa
36.43%
This assessment of the current state of the implementation of the Basel core principles (BCP) for effective banking supervision in Bulgaria has been completed as a stand-alone report on the observance of standards and codes undertaken by the international monetary fund (IMF) and the World Bank during March of 2015 at the request of the Bulgarian authorities. It reflects the regulatory and supervisory framework in place as of the date of the completion of the assessment. The Bulgarian National Bank (BNB) has an internal governance structure which, by vesting the majority of the powers of supervision in the Deputy Governor for banking supervision, exposes the supervisory function to risks. Under the BNB’s legal structure, supervision and enforcement is dissociated from the Governing Council, and the Governing Council has no right to compel transparency of decision making or to impose a framework to ensure consistency in the use of the enforcement regime. There are material concerns that the BNB is too resource constrained to deliver effective minimum levels of supervision. Despite a broad range of supervisory powers...

Monetary Policy Committees, Universal Banks, and Public Recapitalisations

MARIATHASAN, Mike
Fonte: Instituto Universitário Europeu Publicador: Instituto Universitário Europeu
Tipo: Tese de Doutorado
EN
Relevância na Pesquisa
36.39%
The three papers in this thesis differ considerably with respect to methodology and topic; yet, they all reflect my overarching interest in the design of economic policies and the institutions that execute them. They are, also, testimony of the privilege to write a PhD thesis in Economics during times that leave little doubt about the relevance of thoughtful economic policy. My first, humble, contribution to designing these are the three papers in this thesis. As an introduction, I will proceed to briefly describe their contributions. In the first paper, I address the question of how diverse opinions (“beliefs”) among members of a monetary policy committee [MPC], as well as its institutional features, in particular, its size and its decision-making process, influence macroeconomic volatility. I answer this question in two parts: first, I explain the relationship between decision-making in committees and robust, or regret-minimising, decision-making. I show that the two can be equivalent under very specific conditions (on beliefs and the potential models of the economy). These conditions are hard to test empirically; therefore, I proceed, in the second part, to simulate an empirically motivated example, and, to compare the volatility generated by a...

Moldova Financial Sector Assessment Program; Basel Core Principles for Effective Banking Supervision

International Monetary Fund; World Bank
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Report; Economic & Sector Work :: Financial Sector Assessment Program; Economic & Sector Work
ENGLISH; EN_US
Relevância na Pesquisa
46.43%
This assessment of Moldova current state of compliance with the Basel core principles for effective banking supervision (BCPs) was undertaken as part of a joint International Monetary Fund (IMF) - World Bank mission in connection with a broader financial sector assessment program exercise. This version of the assessment has a greater focus on risk management policies and practices implemented by supervised institutions and their assessment by the supervisory authority as well as more emphasis on quality implementation of supervisory standards. The assessment has been conducted in accordance with the revised BCP assessment methodology approved by the Basel committee and was based on extensive discussions with officers and staff members of the Banking Supervision Department in National Bank of Moldova (NBM), and a review of internal supervisory documents, such as manuals, operating policies, examination reports, and external audit reports. The mission reviewed the BCP self-assessment undertaken by NBM preceding this assessment...

Bulgaria Financial Sector Assessment Program; Detailed Assessment of Observance--Basel Core Principles for Effective Banking Supervision

International Monetary Fund; World Bank
Fonte: Washington, DC Publicador: Washington, DC
Tipo: Report; Economic & Sector Work :: Financial Sector Assessment Program; Economic & Sector Work
ENGLISH; EN_US
Relevância na Pesquisa
46.43%
This assessment of the current state of the implementation of the Basel core principles (BCP) for effective banking supervision in Bulgaria has been completed as a stand-alone report on the observance of standards and codes undertaken by the international monetary fund (IMF) and the World Bank during March of 2015 at the request of the Bulgarian authorities. It reflects the regulatory and supervisory framework in place as of the date of the completion of the assessment. The Bulgarian National Bank (BNB) has an internal governance structure which, by vesting the majority of the powers of supervision in the Deputy Governor for banking supervision, exposes the supervisory function to risks. Under the BNB’s legal structure, supervision and enforcement is dissociated from the Governing Council, and the Governing Council has no right to compel transparency of decision making or to impose a framework to ensure consistency in the use of the enforcement regime. There are material concerns that the BNB is too resource constrained to deliver effective minimum levels of supervision. Despite a broad range of supervisory powers...

Corporate governance, moral hazard and conflict of interest in Italian universal banking, 1914-1933

Battilossi, Stefano
Fonte: Universidade Carlos III de Madrid Publicador: Universidade Carlos III de Madrid
Tipo: Trabalho em Andamento Formato: application/pdf
Publicado em /02/2003 ENG; ENG
Relevância na Pesquisa
46.65%
Universal banking is widely held to enjoy comparative advantages in corporate finance. Recent theories of financial intermediation argue that 'insider systems' are better suited to effectively deal with long-term growth and moral hazard problems. However, little attention (if any) is usually paid to corporate governance problems that are specific to universal banking. How can banks' ownership structure and agency problems influence their ability to address longterm growth and moral hazard problems? Under which institutional arrangements, incentives and constraints can universal banking effectively realize its potential? The paper looks at such issues through the experience of interwar Italy. The evolution of universal banking in the 1920s emerges as heavily exposed to potentially serious problems of moral hazard and conflicts of interest, due to inefficient corporate governance, lack of external controls and a moral-hazard-enhancing institutional set-up. These factors may distort bank managers' incentives, affect strategic trade-offs and lead to unsound banking. The findings are consistent with that part of corporate governance literature which points to the potential for moral hazard and conflicts of interest inherent to universal banking and emphasise the conditional and historically-specific nature of its alleged benefits.

Mexico : Basel Core Principles - Detailed Assessment of Observance

International Monetary Fund; World Bank
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Economic & Sector Work :: Financial Sector Assessment Program (FSAP); Economic & Sector Work
ENGLISH; EN_US
Relevância na Pesquisa
36.41%
This detailed assessment of the current state of implementation of the Basel core principles in Mexico has been completed as part of a financial sector assessment program update undertaken jointly by the International monetary fund and the World Bank. The assessment was conducted in September 2011 to update the 2006 assessment. It reflects the banking supervision practices of the country as of end-July 2011. Moreover, the bar to measure the effectiveness of a supervisory framework was raised following the recent financial crisis. The assessment is based on several sources: 1) a self-assessment in August 2011 by the country authorities, including written answers to an exhaustive questionnaire; 2) detailed interviews with staff from the relevant national agencies, including the CNBV (Comision Nacional Bancaria y de Valores), the Central Bank of Mexico (BoM), the SHCP (Secretaria de Hacienda y Credito Publico), and the Financial Intelligence Unit (UIF); 3) relevant laws, directives, circulars and guidelines...

Nigeria : Crisis Management and Crisis Preparedness Frameworks

International Monetary Fund; World Bank
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Economic & Sector Work :: Financial Sector Assessment Program (FSAP); Economic & Sector Work
ENGLISH; EN_US
Relevância na Pesquisa
36.4%
This note elaborates on the recommendations made in the Financial Sector Assessment Program (FSAP) for Nigeria in the areas of contingency planning, crisis management, and bank resolution. It summarizes the findings of the FSAP mission undertaken during September 4 to 19, 2012 and is based upon analysis of the relevant legal and policy documents and extensive discussions with the authorities and private sector representatives. The Nigerian financial system experienced a banking crisis in 2008-2009, partly triggered by the global financial crisis and by domestic events. The decisive crisis response effectively stabilized the banking system, but the challenge now is to devise a credible exit strategy and to strengthen the resolution framework. This note is structured as follows: chapter one sets out an overview of the banking crisis of 2009; chapter two analyses the institutional framework and coordination arrangements for systemic risk monitoring, crisis management, and cross-border coordination; chapter three assesses the approaches to intervene with potential problem institutions at an early stage; chapter four covers crisis management tools including official financial support...

Financial Sector Assessment Program : Nigeria - Crisis Management and Crisis Preparedness Frameworks

International Monetary Fund; World Bank
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Economic & Sector Work :: Financial Sector Assessment Program (FSAP); Economic & Sector Work
ENGLISH; EN_US
Relevância na Pesquisa
36.4%
This note elaborates on the recommendations made in the Financial Sector Assessment Program (FSAP) for Nigeria in the areas of contingency planning, crisis management, and bank resolution. It summarizes the findings of the FSAP mission undertaken during September 4 to 19, 2012 and is based upon analysis of the relevant legal and policy documents and extensive discussions with the authorities and private sector representatives. The Nigerian financial system experienced a banking crisis in 2008-2009, partly triggered by the global financial crisis and by domestic events. The decisive crisis response effectively stabilized the banking system, but the challenge now is to devise a credible exit strategy and to strengthen the resolution framework. This note is structured as follows: chapter one sets out an overview of the banking crisis of 2009; chapter two analyses the institutional framework and coordination arrangements for systemic risk monitoring, crisis management, and cross-border coordination; chapter three assesses the approaches to intervene with potential problem institutions at an early stage; chapter four covers crisis management tools including official financial support...

Improving Access to Banking : Evidence from Kenya

Allen, Franklin; Carletti, Elena; Cull, Robert; Qian, Jun; Senbet, Lemma; Valenzuela, Patricio
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
ENGLISH; EN_US
Relevância na Pesquisa
36.42%
Using household surveys and bank penetration data at the district-level in 2006 and 2009, this paper examines the impact of Equity Bank -- a leading private commercial bank focusing on microfinance -- on access to banking in Kenya. Unlike other commercial banks in Kenya, Equity Bank pursues distinct branching strategies that target underserved areas and less-privileged households. Equity Bank presence has a positive and significant impact on households' use of bank accounts and bank credit, especially for Kenyans with low income, no salaried job, and less education and those who do not own their own home. The findings are robust to using the district-level proportion of people speaking a minority language as an instrument for Equity Bank presence. It appears that Equity Bank's business model -- providing financial services to population segments typically ignored by traditional commercial banks and generating sustainable profits in the process -- can be a solution to the financial access problem that has hindered the development of inclusive financial sectors in many African countries.

Competition and Scope of Activities in Financial Services

Claessens, Stijn; Klingebiel, Daniela
Fonte: Washington, DC: World Bank Publicador: Washington, DC: World Bank
Tipo: Journal Article; Publications & Research :: Journal Article; Publications & Research
ENGLISH; EN_US
Relevância na Pesquisa
36.61%
This article analyzes the costs and benefits of different degrees of competition and different configurations of permissible activities in the financial sector and discusses the related implications for regulation and supervision. Theory and experience demonstrate the importance of competition for efficiency and confirm that a competitive environment requires a contestable system meaning one that is open to competition-but not necessarily a large number of institutions. A competitive banking system can improve the distribution of consumer credit, enhance the corporate sector's access to financing, and mitigate the risks of financial crises. In an open market, in which services and products are provided in response to market signals, financial institutions respond by offering a wider scope of financial services. The optimal institutional design for supervisory functions is less obvious. This article reviews alternative frameworks for financial services markets from an economic perspective using experiences in several countries as a guide. Authors focus first on the role of competition in the financial sector and the tradeoffs between competition on the one hand and stability and innovation on the other. Authors next examine alternative structures of financial services dictated in many countries.

Universal banking failure?: an analysis of the contrasting responses of the Amsterdamsche Bank and the Rotterdamsche Bankvereeniging to the Dutch financial crisis of the 1920s

Colvin, Christopher Louis
Fonte: Department of Economic History, London School of Economics and Political Science Publicador: Department of Economic History, London School of Economics and Political Science
Tipo: Monograph; NonPeerReviewed Formato: application/pdf
Publicado em /03/2007 EN; EN
Relevância na Pesquisa
46.59%
Whilst in some financial systems in the early twentieth century commercial and investment banking activities were carried out by functionally separate firms, in others both kinds of operation were conducted under one roof by “universal banks”. Explaining the evolutionary paths that lead to these divergent banking structures has remained a hot topic of multidisciplinary debate for many years. So has their respective exposure to financial crises. On the one hand, universal banks – which hold both long- and short-term assets – are able to reduce information asymmetries and internalise risk. But on the other hand, their mixed asset structure arguably decreases versatility during an economic downturn and may create a “dual market for lemons” in which information asymmetries cause financially sound clients and banks to exit the market, leaving only the riskier crisis-prone ones behind. This paper analyses these debates using the case study of the Netherlands in the early 1920s. The literature argues that it is during this decade that the Netherlands experienced her one and only traditional banking crisis from 1600 to the present day, and after which her short-lived experiment with a system of universal banking came to an end. By calculating an equity-deposit ratio panel for the Big Five Dutch banks...