Modern Banking Law

This book looks at the UK banking in the context of general legal doctrines and banking regulation. It draws on Australian, US and Canadian examples and deals with the impact of the recent global financial crisis.

This new edition sets banking law clearly against the background of general legal doctrines and discusses its operation in the context of its wider economic function. Although focusing on English law, considerable use is made of illuminating US, Canadian, and Australian examples as well. Part One examines the different types of banks and banking organizations operating in the United Kingdom and reviews the new regulatory regime for banking under the Financial Services and Markets Act 2000. Part Two analyses the banker and customer relationship, explaining the different types of accounts available, the duties and trustee liability of banks, and the latest processes used in the clearance of cheques and money transfers. Part Three then discusses issues relating to overdrafts, bank loans, credit agreements, securities, and mortgages. Fully updated and revised to take into account the considerable changes in banking law, regulation, and practice that have taken place in recent years, this edition contains substantial new material on the new regulatory regime, electronic banking and the implications of electronic money transfers, lender liability (including liability for environmental damage), recovery of mistaken payments, syndicated lending, and on tracing and banker liability as constructive trustee.

Banking regulation and the private law governing the bank-customer relationship came under the spotlight as a result of the global financial crisis of 2007–2009. More than a decade later UK, EU and international regulatory initiatives have transformed the structure, business practices, financing models and governance of the banking sector. This authoritative text offers an in-depth analysis of modern banking law and regulation, while providing an assessment of its effectiveness and normative underpinnings. Its main focus is on UK law and practice, but where necessary it delves into EU law and institutions, such as the European Banking Union and supervisory role of the European Central Bank. The book also covers the regulation of bank corporate governance and executive remuneration, the promises and perils of FinTech and RegTech, and the impact of Brexit on UK financial services. Although detailed, the text remains easy to read and reasonably short; pedagogic features such as a glossary of terms and practice questions for each chapter are intended to facilitate learning. It is a useful resource for students and scholars of banking law and regulation, as well as for regulators and other professionals who are interested in reading a precise and evaluative account of this evolving area of law.

The Chinese Cornerstone of Modern Banking: The Canton Guaranty System and the Origins of Bank Deposit Insurance 1780-1933, by Frederic Delano Grant, Jr., details the evolution of modern deposit insurance from collective responsibility for debt enforced under the Canton System.

A solid understanding of how banks operate is crucial to grasp the functioning of modern society. Banks are an intrinsic part of business, finance, and everyday life. Modern banking is regulated by a sophisticated set of laws and regulations that are constantly evolving. Banking Law and Practice from the Hong Kong Institute of Bankers outlines and explains these laws and regulations clearly and in detail. This regulatory framework has a deep impact on banks, bankers, and anyone that deals with them, which is the overwhelming majority of society. This high level of impact makes Banking Law and Practice an important book as well as a necessary and authoritative reference for industry professionals, students, and the public at large. Banking Law and Practice discusses a range of topics that have a direct bearing on the day-to-day operations of banks, from contracts to how to ensure safe and secure lending. It examines the development and current state of banking legislation and regulation and facilitates bankers and their institutions to shape their practice to meet all the necessary legal and regulatory requirements. Students, industry professionals, and the public at large will welcome the thorough and clear explanations of the legal and regulatory framework in which banks operate. This book is essential reading for candidates studying for the HKIB Associateship Examination and anyone else seeking expert knowledge of the legal and regulatory structure affecting banks in Hong Kong. Topics covered in this book include: Contractual Relationships Code of Banking Practice Money Laundering Negotiable Instruments Law Related to Securities Bankruptcy and Insolvency

Although little noticed, the face of central banking has changed significantly over the past ten to fifteen years, says the author of this enlightening book. Alan S. Blinder, a former vice chairman of the Federal Reserve System and member of President Clinton’s Council of Economic Advisers, shows that the changes, though quiet, have been sufficiently profound to constitute a revolution in central banking. Blinder considers three of the most significant aspects of the revolution. The first is the shift toward transparency: whereas central bankers once believed in secrecy and even mystery, greater openness is now considered a virtue. The second is the transition from monetary policy decisions made by single individuals to decisions made by committees. The third change is a profoundly different attitude toward the markets, from that of stern schoolmarm to one of listener. With keenness and balance, the author examines the origins of these changes and their pros and cons.

The second edition of this major reference work on banking law continues to provide authoritative analysis of current practice and the law that applies to it. Known for its broad coverage including topics such as syndicated loans, security structures, derivative products and mis-selling claims, the book tackles areas which have particular relevance to current practice. Amongst these are cross-border matters such as world-wide freezing injunctions, foreign disclosure orders, the bankers' duty of confidentiality and the impact of sanctions on banking transactions. In particular, the book provides detailed examination of various matters arising out of the Lehman collapse and the failure of the Icelandic banking system. The second edition reviews a significant accumulation of case law in these areas. Reflecting the continued growth of the Islamic finance market, there is also a detailed section on this highly specialized but increasingly important area. The new edition provides detailed consideration of the new UK and EU regulatory regimes, analyzing the respective responsibilities of the PRA and the FCA, and the establishment of new banking authorities in the EU. A separate chapter examines the new capital adequacy and liquidity regimes that will apply to banks in the wake of Basel III. It also reflects on the impact of the crisis following on from the initial assessments made in the first edition. The book examines extensively the new regimes for "ring-fencing" of retail banking business and for the resolution of failing banks, introduced at both the UK and EU levels. The text also includes a new chapter examining the challenges that the banking system would face in the event that a Member State elected to withdraw from the Eurozone - a fate which appeared to hang over Greece during the crisis and which could recur if the single currency zone faces renewed strains. Written by the editor of the leading work on monetary law, Mann on the Legal Aspect of Money, 7e, this is the most comprehensive assessment of current banking practice and the law that applies to it. It is a work of great scholarship set in practical context and benefits from the consistency and rigorousness of approach that a single author can provide.