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<<< < Предыдущая 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 7374 / 7474

[ 708 ]

I N D E X

Prudential	95
prudential controls, regulations		32 – 6,
176 – 219, 228 – 42, 283 – 5
PT see portfolio theory
‘public good’ elements, regulations			3
purchase and acquisition (P&A), concepts
352
put options
see also options
concepts	130 – 3, 384 – 6
QTL see qualiﬁed thrift lender test
qualiﬁed thrift lender test (QTL)			370
qualitative assessments
bank failures 390 – 9
credit risk	158 – 61
quantitative assessments, credit risk			158 – 61
quantitative models, failures		xvii, 399 – 405
quotas 56 – 7, 68 – 70, 309 – 10, 314 – 15,
464
RAROC see risk adjusted return on capital
rationing method, credit risk		156 – 7
RBI see Reserve Bank of India
RE see relative efﬁciency model
real estate services 3, 41 – 2
real time gross settlement (RTGS)			9 – 10, 11,

107

receivership considerations, bank failures


352		– 8
recessions	101, 124, 203 – 10, 380, 405,
452		– 4
reforms, regulations 101 – 2, 221 – 87,
293		– 351, 436 – 50, 459 – 71
regional banks, Germany 18
regulations		xi – xii, xiv, xv – xvi, 3 – 4, 11 – 12,
18 – 20, 22 – 5, 34 – 8, 66, 88 – 9,
101		– 2, 168 – 9, 173 – 219, 221 – 87,
352		– 8, 394 – 8, 491 – 2
see also Basel. . .
background			xv – xvi, 173 – 219, 221 – 87,
356, 394 – 5
Chinese walls			21, 28 – 30
costs	28, 238 – 42, 245 – 7
Cruickshank’s recommendations 11 – 12,
88, 174, 232 – 3
derivatives			139 – 42

EU	xvi, 12, 32, 35, 62, 193, 205, 221,
	235	– 7, 262 – 86, 385 – 6
failing banks			352 – 8, 394 – 5
ﬁnancial conglomerates							27 – 8, 236, 274 – 5
ﬁrewalls		21, 28 – 30
incentive compatible regulations								210 – 13
innovations			168 – 9, 207 – 8, 290
international regulations							xv – xvi, 173,
	179	– 219
Islamic banking				329 – 32
Japan	221, 237 – 8, 242, 258 – 64, 286 – 7,
	356, 394 – 7, 434 – 50, 459 – 67,
	569	– 82
lawyers		233 – 5
MNBs 68 – 72, 179 – 219
monopoly situations					11, 68 – 9, 88 – 9, 101,
	173	– 4, 178, 245 – 6, 293 – 4, 303 – 4,
	478, 495 – 509
payment systems				11 – 12
pre-commitment approach							210 – 11
prudential controls					32 – 6, 176 – 219,
	229	– 42, 283 – 5
‘public good’ elements						3
reasons		173 – 9, 352 – 8
reforms		101 – 2, 221 – 87, 293 – 351,
	436	– 50, 453 – 5, 459 – 71
risk-based approaches						235 – 40
self-regulations				22, 44, 228 – 30, 237 – 9,
	329	– 30
single regulators				237 – 42, 258
South East Asia				420 – 36, 459 – 67
‘too big to fail’ doctrine						50 – 1, 174 – 5, 177,
	365	– 7, 395 – 6
UK	29 – 30, 31 – 2, 34, 36, 218, 221 – 42,
	292, 366 – 7, 376 – 86, 394 – 5,
	459	– 62
USA	xvi, 11 – 12, 18 – 28, 34 – 5, 50, 111,
	139, 175, 180, 207, 211, 217 – 18, 221,
	237	– 59, 292, 363 – 80, 394 – 8,
	454	– 62, 520, 613 – 31
regulatory capital arbitrage, concepts
	185 – 6
regulatory forbearance, concepts								27, 368 – 9,
	394, 395 – 6, 420 – 1
relationship banking
concepts		xviii, 7 – 8, 139, 259 – 64, 280,
	441	– 2, 571 – 82, 640 – 1
international comparisons							8

relative efﬁciency model (RE)
see also X-efﬁciencies
concepts		xvii – xviii, 495 – 509
empirical tests			496 – 506
remote delivery channels				92 – 7
see also e-. . .
concepts		92 – 7
costs	92 – 7
repos, concepts			30 – 1, 59
reputations		71 – 2, 175, 230 – 1, 247, 367, 477,
	541 – 64
rescheduling agreements, emerging markets
	339 – 41, 344 – 7, 463 – 7
rescues	xvii, xviii, 33, 50 – 1, 162, 174 – 5,
	179 – 81, 237 – 8, 245 – 6, 352 – 90,
	395 – 6, 424 – 36, 436 – 50, 453 – 5,
	459 – 67, 609 – 11
research analysts, investment banks						20 – 1,
	22 – 3, 237 – 9
Reserve Bank of India (RBI)					317 – 23
reserve ratios
concepts		31, 33, 37, 45, 53, 105, 175 – 6,
	182 – 219, 289, 309 – 10, 315, 317 – 18,
	322, 353 – 4, 393, 574
Islamic banking			327 – 9
money supply			31, 33, 175 – 6
Resolution Trust Corporation (RTC)						370 – 2,
	432 – 4, 440
restricted universal banks, concepts						25, 186,
	222 – 42
retail banks
see also commercial banks
concepts		24, 56, 69, 94, 155 – 6, 201 – 19,
	276 – 81, 509
return on assets (ROA)				103, 109 – 10, 142 – 5,
	419 – 21, 444 – 5, 501 – 6, 527 – 8
return on equity (ROE)
see also proﬁtability
concepts		54 – 5, 103, 142 – 5, 444 – 5,
	501 – 6, 527 – 8
international comparisons					54 – 5
statistics		54 – 5, 501 – 6, 527 – 8
returns
see also proﬁtability
concepts		54 – 5, 103 – 5, 142 – 6, 162 – 6,
	419 – 21, 501 – 6, 521 – 32
M&As		521 – 9

	[ 709 ]

	I N D E X
RAROC xv, 103, 142 – 6, 163 – 6, 189,
	198, 635 – 8
risk	104 – 5, 162 – 6
revenue see income
Revised Basel Concordat (1983) 180 – 1,
	395
rho 149 – 51
rip-offs	511 – 14

risk

see also individual risk types

Basel	169, 182 – 219, 393
concepts		xv – xvi, 2 – 3, 9 – 10, 33, 38, 50,
	101	– 72, 174 – 6, 182 – 219, 334 – 5, 477
deﬁnitions			103 – 13, 182 – 3
deposit insurance schemes 7, 38, 176 – 7,
	181, 246 – 7, 253 – 7, 262 – 4, 272,
	299	– 0, 321 – 2, 353, 355 – 8, 367 – 72,
	398
emerging markets				329, 334 – 5
hedge funds			xvii, 42 – 4, 66
interactions			112 – 13
internal models				187 – 9, 194 – 219
Islamic banking				329
M&As		533 – 4
returns		104 – 5, 162 – 6
systemic risk			33, 50 – 1, 101 – 3, 204 – 6,
	236, 241 – 2, 254 – 6, 354 – 5, 424,
	440	– 1, 449 – 55, 520, 533 – 4
types	xv – xvi, 9 – 10, 33, 50, 58, 101 – 3,
	103	– 13, 174 – 6, 329

underpricing issues 38

risk adjusted return on capital (RAROC) xv, 103, 142 – 6, 163 – 6, 189, 198, 635 – 9

risk assessments, intermediation costs 2 – 5

risk assets ratios		44 – 5, 192 – 219
risk management		xi – xii, xiv – xvi, xviii,
9 – 10, 89 – 90, 101 – 72, 187 – 219,
320 – 1, 390 – 3, 454 – 60, 553 – 5,
635 – 9
ALM xiv – xv, 23, 41 – 2, 72, 101 – 72,
390	– 1
approaches 113 – 25, 142 – 72, 187 – 219,
553	– 5
Barclays Bank plc 169 – 71
concepts	9 – 10, 43 – 4, 101 – 72, 187 – 219,
390	– 3, 454 – 60, 635 – 9
credit risk	155 – 69, 169 – 71

[ 710 ]

I N D E X

risk management (continued)


deﬁnition		102
derivatives			43 – 4, 108 – 9, 125 – 42,
	199 – 200, 635 – 6
duration analysis				xv, 120 – 4, 191 – 2
future prospects				89 – 90
gap analysis			118 – 24
global banking				169 – 71
historical background					113, 142
incentive compatible regulations 210 – 13
innovations			168 – 9, 207 – 8
intermediary services					51, 101 – 2
key risks		103 – 13
market risk			142 – 55, 169 – 71, 581 – 94
OBS	102
operational risk				169 – 71, 194 – 219
payment systems				9 – 10, 101 – 2, 106 – 7,
	201 – 19
RAROC		xv, 103, 142 – 6, 163 – 6, 189,
	198, 635 – 9
scenario analysis				154 – 5
stress testing			154 – 5, 203,
	204 – 5
trading books			113 – 72
VaR	xv, 101 – 3, 142, 146 – 55, 166 – 8,
	187 – 92, 198, 211, 456 – 60,
	553 – 5
risk premiums
concepts		2 – 3, 103
intermediation services					2 – 3
statistics		103
risk to our objectives (RTO) 235 – 7
risk-based approaches to regulation, FSA

234 – 40

risk-free rate of return, concepts 103

Riskmetrics	142, 146 – 55, 187 – 9
ROA see return on assets
ROE see return on equity
rogue traders 208
Romania	305
Rothschilds	67

Royal Bank of Scotland 11, 97 – 8, 127, 222 – 42, 511

RTC see Resolution Trust Corporation RTGS see real time gross settlement RTGS systems 12

RTO see risk to our objectives Rusnak, John 111

Russia xvi, 67, 112, 209, 212, 292, 293 – 305,

317, 338 – 9, 413, 456,
465 – 6
accounting standards					299
background			293 – 305, 409 – 10, 413, 456,
465 – 6
bank failures			298 – 305, 337, 465 – 6
commercial banks				294 – 305
crises	409 – 10, 413, 456, 465 – 6
deposit insurance				299 – 0
efﬁciency issues				300 – 1, 303 – 5
ﬁnancial repression					293 – 4, 303 – 4
foreign banks			296 – 9, 302 – 5
IASs	299
municipal banks				295 – 8
oil revenues			298
performance comparisons 300 – 1, 303 – 5
problems		300 – 4
reforms	293 – 305, 317 – 18
regulations			294 – 305
statistics		293 – 305, 338 – 9
structural issues				293 – 305, 317
S&Ls see savings and loans banks
S&P500	83
Sainsbury	97, 226
Sakura Bank		xviii, 439 – 41, 568 – 82
Salomon Smith Barney					20 – 2, 175, 249 – 50,
393
Salop – Stiglitz model					511 – 14
Sanwa Bank Group				439 – 40
Sarbanes – Oxley Act 2002, USA						217 – 18
Saudi Arabia			323 – 32
savings and loans banks (S&Ls)						46 – 7,
243 – 4, 253 – 4, 256, 367 – 80, 390 – 1,
394 – 6, 432 – 4
scale economies see economies. . .
scandals	20 – 1, 139 – 41
Scandinavia
see also individual countries
background			449 – 55
crises	xvii, 102, 407, 412 – 13, 449 – 55
interest rates			449 – 55
reforms	453 – 5
regulations			267 – 70, 449 – 55
responses		453 – 5
structural issues				267 – 70, 449 – 55

Scandinaviska Enskilda Banken (SEB) 93 – 4

scenario analysis, concepts	154 – 5
Schneider, Jurgen¨ 7 – 8
Schroder 156
scope economies see economies. . .
Scotland, free banking 178
SCP see structure– conduct – performance
model
search costs, intermediation	2 – 5, 37

SEC see Securities and Exchange Commission Second Banking Directive 1989, EU 271 – 2,

505 – 6

secondary banking crisis, UK 102, 161 – 2, 230, 380 – 1, 460

secondary instruments

concepts	55 – 6, 58 – 9, 90
deﬁnition	55 – 6
section 20 subsidiaries
see also bank holding companies
concepts	24 – 5, 248 – 9
securities	xiv, 17 – 18, 19, 20 – 1, 26 – 7, 41 – 2,
44 – 51, 72, 108, 214 – 18, 280 – 3,

	325 – 9, 445 – 7
see also bonds; equities
emerging markets 333 – 47
EU	280 – 3
issues	42, 44 – 51, 58

money supply 30

underwriting services 19 – 25, 72, 89, 248 – 9, 559 – 60

Securities and Exchange Commission (SEC) 20 – 2, 50, 207, 217 – 18, 247 – 59, 454 – 60

Securities and Futures Association (SFA) 228 – 30, 383

Securities and Investments Board (SIB) 27, 387

securitisation xiv – xv, 42 – 51, 53 – 4, 72, 158, 195 – 219

see also asset-backed securities; bonds;

commercial paper
Basel 2 Accord 199
concepts	xiv – xv, 42 – 51, 53 – 4, 72, 158,
195, 199
deﬁnition	44 – 5
statistics	44 – 51
security concerns, e-banking		95
seigniorage income, concepts		33 – 4

				[ 711 ]
				[ 711 ]
				I N D E X
self-regulations	22, 44, 228 – 30, 237 – 9,
329 – 30
settlements risk, concepts			xv, 9 – 15, 104,
106 – 7
SFA see Securities and Futures Association
share prices, statistics		83 – 5
shareholder value-added, concepts				103 – 4,
532 – 3, 537 – 8
shareholder-owned banks, concepts				1
shareholders
see also equities
bank failings	397 – 8
bank-failure resolutions strategies				358
building societies		224 – 6
institutional investors			23, 58, 72, 89 – 90
M&As 518 – 38
principal-agent problems 6 – 7, 38, 225,
353 – 6, 531 – 3
short-maturity products			4

short-term ﬁnancial instruments, deﬁnition 55 – 6

SIB see Securities and Investments Board

SIM cards	93
Singapore	42, 71, 209, 382 – 6
Singapore Monetary Exchange			42
Single European Act 1986, EU			270 – 1, 283
SIS, Switzerland		12
SIT, France	12
Slovak Republic		300, 304 – 5

smaller and medium-sized enterprises (SMEs) 196, 198 – 9, 206 – 7, 291 – 2, 321 – 2, 534

smart cards 86, 93

SMEs see smaller and medium-sized enterprises

Smile 94 – 5
social costs, failures	xii, xvii, 32 – 3, 175 – 7,
353 – 406, 412 – 13
Society for World-wide Interbank Financial
Telecommunications (SWIFT) 12
Sony Corporation	94
South East Asia

see also individual countries contagion effects 423 – 36

crises xvii, 297 – 300, 337, 407, 409 – 10, 415 – 36, 454 – 5, 459 – 67

ﬁnancial sector	418 – 36
foreign banks	422 – 36

GDP comparisons 416

[ 712 ]

I N D E X

South East Asia (continued)

interest rates 423 – 36


loans	417 – 36
policies	416 – 18, 424 – 36
regulations		420 – 39, 459 – 67
responses and developments 424 – 36
South Sea Company			414 – 15
sovereign risk
concepts		xv, xvii, 63, 104, 112, 128,
332 – 47, 581 – 94
deﬁnition		112, 332
emerging markets			332, 337 – 47, 581 – 94
Soviet bloc		287 – 9, 293 – 305, 450 – 2


507 – 8
crises	413
M&As	266 – 9
reforms	264 – 8
regulations		266 – 9, 270
statistics		13 – 15, 51 – 5, 80, 266 – 9, 482,
488 – 94, 507 – 8
structural issues			259 – 270
special purpose vehicles (SPVs), concepts
45 – 6
specialist banks, concepts				41
speciﬁc market risk see unsystematic. . .
speculation		44, 128, 139 – 42, 212, 408 – 10
Spitzer, Elliot		20
SPVs see special purpose vehicles
staff see employment issues
Standard Chartered Bank				67, 222 – 42
standard deviation, risk deﬁnition 103 – 4,
143 – 5
Standard and Poor’s			162, 207
standardised approach, Basel 2 Accord					193,
195 – 219
standing orders 9 – 10
stochastic frontier analysis, concepts					480 – 2,
526 – 7
stock and ﬂow measures				441 – 50, 474 – 6
stock markets
see also equities
accounting standards				58
banking performance				83 – 5
concepts		57 – 64, 227 – 30, 537
future prospects			89 – 90

key locations			59 – 64
mergers and alliances 58 – 9
trading costs			59
trends		58 – 9
stockbroker services				1, 5, 19, 22, 41 – 2, 56,
	93, 227 – 30, 236 – 7
store value cards			86 – 97
strategic alliances, concepts					517 – 19
stress testing, concepts				154 – 5, 203, 204 – 5
strike prices, options				129 – 33
structural issues			xi – xii, xi – xiv, 1, 5 – 7,
	15 – 39, 221 – 87, 288 – 351, 425 – 50,
	466 – 7, 477, 495 – 538, 557 – 64,
	632 – 6
see also organizational. . .
concepts		1, 5 – 7, 15 – 39, 221 – 87, 477,
	517 – 38
emerging markets				288 – 351, 415 – 36,
	459 – 67
EU	221, 262 – 86
international comparisons					15 – 18,
	221 – 87
Japan	221, 258 – 64, 285 – 7, 351, 434 – 50,
	459 – 71, 568 – 82
M&As		517 – 38
output measures 477
statistics		15 – 18, 495 – 509
types	19 – 26
UK	15 – 18, 221 – 42, 292, 459 – 62, 526 – 7
USA	15 – 18, 221, 242 – 59, 292, 351,
	460 – 2
structure– conduct – performance hypothesis
	(SCP)
concepts		xvii – xviii, 494 – 509
empirical tests			496 – 506
students, learning experiences xxi
subordinated debt, concepts					211 – 12
subsidiaries, holding companies						xiv, 24 – 5,
	247 – 59
substitute products, competition						505 – 6,
	512 – 15
Sudan	323 – 32

sunk costs	506 – 8
supermarkets	97, 226


swaps	xv, xviii, 42 – 4, 68 – 9, 89 – 90, 104 – 5,
	108, 111, 126 – 8, 133 – 42, 182 – 3,
	187 – 92, 345 – 6, 640 – 3
concepts		xv, xviii, 42 – 4, 68 – 9, 89 – 90,
	104 – 5, 126 – 8, 133 – 8, 182 – 3,
	187 – 92, 345 – 6, 640 – 3
counterparty risk			104
deﬁnition		133
examples		133 – 8
statistics		42 – 4
types	133 – 8
swaptions, concepts			138
Sweden	18, 67, 74 – 85, 92 – 5, 178, 180, 213,
	237, 268 – 70, 276, 282 – 5, 412 – 13,

	Time Gross Settlement Express
	Transfer System
tariffs	56 – 7, 68 – 70
taxation	91 – 2, 112 – 13, 274 – 5, 299, 512 – 15
EU	274 – 8

Sydney Futures Exchange		42
syndicated loans, concepts		4 – 5, 24, 41
synergies xiii, 484 – 5, 517, 564 – 8
see also mergers and acquisitions
systematic market risk
see also market risk
deﬁnition	107 – 8, 185 – 6
systemic risk
concepts	33, 50 – 1, 101 – 3, 174 – 6, 204 – 6,
236, 241 – 2, 254 – 6, 354 – 5, 424,
440 – 1, 449 – 55, 520, 533 – 4
deﬁnition	175
M&As	520, 533 – 4

						[	713 ]
						[	713 ]
							I N D E X
TBTF see ‘too big to fail’
technical progress				xiv, xvii – xviii, 10 – 11, 56,
		70, 72 – 3, 85 – 98, 475 – 6, 491 – 4, 520
see also innovations; Internet
concepts			xvii – xviii, 85 – 98, 475 – 6,
	491 – 4, 520
costs		492 – 4, 520
e-banking			92 – 7
e-cash		xiv, 86 – 97
iTV		95 – 6
statistics			492 – 4
term deposits, concepts					4 – 5
Tesco	97, 226
tesobonos			xviii, 586 – 94
TFP see total factor productivity
Thailand		xvii, 209, 288 – 9, 291, 338 – 9, 413,
		415 – 36, 465 – 7
background 415 – 36, 465 – 7
crisis responses				424 – 5, 427 – 8, 431 – 6,
	465 – 6
theta	149 – 51
thick labour markets, clustering factors							62 – 3
Third World debt crisis (1982)						128, 581 – 94
see also emerging markets
third-party sales, information						3, 95 – 6
threats		xiv – xv, 85 – 98
three-pillar approach, Basel 2 Accord
		192 – 219
tier 1 capital			15 – 18, 182 – 219, 222, 227 – 8,
		443 – 5, 574 – 5
tier 2 capital			182 – 219, 443 – 5, 574 – 5
tier 3 capital			187 – 92
time decay
see also theta
options			130 – 2, 149 – 51
time horizons, RAROC					144 – 6
Tokyo stock markets					59 – 64
‘too big to fail’ (TBTF)					50 – 1, 174 – 5, 177,
		365 – 7, 395 – 6
top players, banks				15 – 18, 206, 222 – 59,

474 – 6
total return swaps, concepts	135, 137 – 8
trade attempts, knowledge	68	– 71
TradeWeb 90
trading books, risk management		113 – 72
trading methods, concepts	56

	Settlement Express Transfer System
	(TARGET)			10, 12
concepts		10, 12
statistics		12
transaction costs			3, 9 – 10, 58, 90, 92 – 7
see also intermediation. . .
transactional banking				xviii, 8, 474 – 539
concepts		xviii, 8
international comparisons 8
Islamic banking			325 – 9
transparency issues				175, 178, 218, 282 – 4,
	330
Treasury, UK		36, 231 – 3, 237, 241, 285 – 6,
	460 – 2
Treasury bills, UK			30
Treasury bonds, USA				44, 90
Treaty of Rome			1957 270 – 1
true and fair view, accounting standards
	217 – 18
Tunisia	338 – 41
Turkey	66 – 7, 74 – 85, 209, 300, 323 – 32,
	338 – 9, 465, 481
UAE	323 – 32
UBS see Union Bank of Switzerland
UBS Warburg 21
UCITS see Undertakings for the Collective
	Investment of Transferable Securities
	Directive
UFJ Holding		439 – 40

bank failures		102, 106, 108 – 9, 161 – 2,
230, 242, 359, 366 – 7, 380 – 6, 394 – 5,
461	– 3
Banking Acts		227 – 8, 230 – 5, 367
‘Big Bang’	226 – 30
‘big four’ banks			11, 88, 222 – 42
branch closures			13
building societies			1, 16 – 18, 222 – 42
Companies Acts			29 – 30, 366

credit ratings			206
crises	xvii, 102, 161 – 2, 230, 359 – 60,
	380	– 1, 408, 410 – 11, 460 – 1, 461 – 3
e-banking			94 – 5, 98
ERM	108 – 9, 282 – 4, 410 – 11
EU	108 – 9, 271 – 86, 410 – 11
ﬁnancial conglomerates						26 – 30, 236
ﬁnancial repression					292
Financial Services Act						1986 22, 227 – 30
Financial Services and Markets Act 2000
	34, 224 – 42
free banking			178
FSA	22 – 3, 27, 34, 186, 215, 224, 226,
	231	– 42, 460 – 2
international comparisons							13 – 18, 73 – 85,
	482, 485 – 94
key ﬁnancial centres					59 – 64, 221 – 42
LSE	22 – 3, 59 – 64, 227 – 30
MNBs 67 – 72
Monetary Policy Committee							31 – 2, 34, 36,
	231	– 2, 282 – 4
ombudsmen			234 – 5
Overend Gurney				xvii, 359 – 60, 408, 414
payment systems				9 – 15, 65, 91, 94 – 5
proﬁtability			51 – 5, 73 – 85, 482, 485 – 8,
	490	– 2
rankings		15 – 18, 482, 490 – 4, 502 – 8
reforms		221 – 42, 459 – 62
regulations			29 – 30, 31 – 2, 34, 36, 218,
	221	– 42, 292, 366 – 7, 376 – 86, 394 – 5,
	459	– 62
rescue policies				352
ROE trends			54 – 5
secondary banking crisis						102, 161 – 2, 230,
	380	– 1, 460
share prices			83 – 5
statistics		9 – 10, 13 – 18, 26, 51 – 5, 60 – 4,
	73 – 85, 90 – 1, 94 – 5, 221 – 42, 300,
	394	– 5, 482, 485 – 8, 490 – 4, 502 – 6,
	507	– 15, 526 – 7
structural issues				15 – 18, 221 – 42, 292,
	459	– 62, 526 – 7
transactional banking						8
Ukraine	304 – 5, 338 – 9, 481 – 2

underwriting services, concepts 19 – 25, 72,
89, 249, 559 – 60
unexpected losses, concepts		143 – 6, 162 – 6
Union Bank of Switzerland (UBS) 29 – 30,
218, 222, 249 – 50, 323 – 4, 519, 536
unit trusts	3 – 4, 5, 41 – 2, 56 – 7, 58 – 9, 199,
274 – 6, 322 – 3
see also mutual funds
universal banks
concepts	xiv, 1, 19, 25, 41, 104, 186,
263 – 7, 270, 307, 602
restricted universal banks		25, 186, 222 – 42
unsystematic market risk
see also market risk
deﬁnition 107 – 8
Uruguay	338 – 9, 360, 465
US GAAP	218, 368 – 9
USA xiii – xvi, 1, 5, 8 – 28, 44 – 85, 90 – 1,

ABSs	44 – 51
accounting standards 58, 217 – 18
bank failures			102, 105, 204, 244 – 6,
	252	– 5, 353, 359 – 62, 363 – 5, 367 – 80,
	393	– 8, 432 – 4, 461 – 3, 616 – 31
Bank Holding Company Act 1956 24 – 5,
	248	– 9
Banking Act			1933 19 – 20, 246 – 51, 461
Basel 2 Accord			193, 205 – 7, 208
BHCs	xiv, 24 – 5, 247 – 59
‘big six’ banks			242 – 59
branch regulations				250 – 3
CAMEL scores			245 – 7, 256 – 7
commercial/investment bank separation
	246	– 51
Credit´ Lyonnais				613 – 15
crises	367 – 80, 393 – 8, 408, 432 – 4,
	454	– 60, 461 – 3
e-banking		94 – 5, 97
FDIC	243 – 59, 363 – 5, 367 – 80, 393 – 4,
	398, 618 – 31
Federal Reserve				xvi, 11 – 12, 24 – 5, 27 – 8,
	34 – 5, 111, 139, 175, 180, 211, 238,

						[ 715 ]

						I N D E X
245		– 59, 292, 361 – 2, 365, 460 – 2, 475,
485
FHCs	249 – 51
ﬁnancial repression					292
FIRREA		253 – 4, 370 – 2, 498
foreign banks			256 – 9
Glass Steagall Act				18, 19 – 20, 24 – 5,
246		– 51, 461, 520, 636
Gramm Leach Bliley Act						25, 242 – 3,
248		– 58
international comparisons						13 – 18, 73 – 85,
481
key ﬁnancial centres					59 – 64, 221, 242 – 59
M&As		251 – 3, 517 – 38
MNBs	67 – 72
payment systems				11 – 15, 65, 91, 94 – 5, 107
proﬁtability			51 – 5, 73 – 85, 476, 484 – 6,
496		– 8, 490 – 506
rankings		15 – 18
reforms		244 – 59, 460 – 2
regulations			xvi, 11 – 12, 18 – 28, 34 – 5, 50,
111, 139, 175, 180, 207, 211, 217 – 18,
221, 237 – 59, 292, 363 – 80, 394 – 8,
454		– 62, 520, 613 – 31
rescue policies 352
ROE trends			54 – 5, 527 – 8
S&Ls	46 – 7, 242 – 4, 253 – 6, 367 – 80,
390		– 1, 394 – 400, 432 – 4
Sarbanes – Oxley Act					2002 217 – 18
SEC	20 – 2, 50, 207, 217 – 18, 247 – 59
share prices			83 – 5
statistics		11 – 12, 13 – 18, 48 – 55, 60 – 4,
73 – 85, 90 – 1, 94 – 5, 242 – 59, 300,
367		– 80, 393 – 5, 475, 476, 481 – 2,
484		– 6, 490 – 506, 519 – 38
structural issues				15 – 18, 221, 243 – 59, 292,
351, 460 – 2
transactional banking					8
value at risk (VaR)
see also credit. . .; market. . .
concepts		xv, 101 – 3, 142, 146 – 55, 166 – 8,
187		– 92, 198, 203, 211, 456 – 60,
553		– 5
credit VaR			166 – 8
critique		151 – 4, 189 – 92, 203, 456 – 60
deﬁnition		146
examples		146 – 55, 187 – 9, 456 – 60, 553 – 5

‘Greeks’	149 – 51
problems	151 – 4, 189 – 92, 203, 456 – 60


vega	149 – 51
Venezuela		338 – 41
venture capital			195 – 6, 278
veriﬁcation costs, intermediation					2 – 5, 37
vertical disallowances, concepts					191 – 2
violation, concepts				152 – 3
Virgin	97, 226, 560
Visa	11, 86
Visa Cash		86
VisaDebit		11
see also debit cards
volatility
see also vega
RAROC		142 – 6
risk deﬁnition			103 – 4
Wachovia		242 – 50
Warburgs		222
warehousing steps, securitisation					45 – 6
warrants		108
Wells Fargo & Co.				243 – 50, 519
Westinghouse			98


wholesale banking				xiv – xv, 24, 41, 69 – 70,
	102, 179 – 81, 205, 222 – 42, 509
see also commercial banks
concepts		xiv – xv, 24, 41, 69 – 70, 179 – 81,
509
MNBs	69 – 70, 179
withholding taxes				59
Woolwich		95
World Bank		89 – 90, 213 – 14, 304, 308, 334,
	424 – 36, 530
World Trade Organisation (WTO) 289,
	311 – 17, 421 – 2
WorldCom		156
Wriston, Walter			28, 101 – 2
writers, options			132 – 3
WTO see World Trade Organisation
X-efﬁciencies		xvii – xviii, 473, 477 – 94, 496,
	500 – 6, 519 – 20, 525 – 7
see also relative efﬁciency model
concepts		473, 477 – 94, 496, 500 – 6,
519 – 20, 525 – 7
DEA	478 – 9, 526 – 7
M&As 531 – 27
statistics		478, 481 – 2, 490 – 2, 500 – 6
stochastic frontier analysis 480 – 2, 526 – 7
Yamaichi Securities				445 – 7
Yemen	323 – 32
yield curves		117 – 18, 134 – 5
zaitech	572 – 4