- Copyright Page
- List of Figures
- List of Tables
- List of Abbreviations
- List of Contributors
- Banking: A Decade on from the Global Financial Crisis
- The Roles of Banks in Financial Systems
- Commercial Banking and Shadow Banking: The Accelerating Integration of Banks and Markets and its Implications for Regulation
- Corporate Complexity and Systemic Risk: A Progress Report
- Corporate Governance and Culture in Banking
- Private Information and Risk Management in Banking
- Creation and Regulation of Bank Liquidity
- The Performance of Financial Institutions Modeling, Evidence, and some Policy Implications
- Technological Change and Financial Innovation in Banking: Some Implications for FinTech
- Community Banking Institutions: Commercial Banks, Savings Banks,Cooperative Banks, and Credit Unions
- Islamic banking: A Review of the Empirical Literature and Future Research Directions
- Can We Improve the Impact of Microfinance?: A Survey of the Recent Literature and Potential Avenues for Success
- Small Business Lending: The Roles of Technology and Regulationfrom Pre-crisis to Crisis to Recovery
- Residential Mortgages
- Shadow Banking
- Modern Central Banking
- Lender of Last Resort: A New Role for the Old Instrument
- Bank Bailouts and Bail-Ins
- Bank Runs and Moral Hazard: A Review of Deposit Insurance
- Bank Capital Requirements after the Financial Crisis
- Market Discipline in Regulation: Pre and Post Crisis
- Competition in the Banking Sector
- Behavioral Economics, Financial Literacy, and Consumers’ Financial Decisions
- Systemic Risk in Banking after the Great Financial Crisis
- Hardy Perennials: Banking Crises Around the World
- Bank Failures, The Great Depression, and Other “Contagious” Events
- Banking Globalization: Cross-border Entry, Complexity,and Systemic Risk
- Banking and Real Economic Activity: Foregone Conclusions and Open Challenges
- Banking in the United States
- Banking in Europe: Integration, Reform, and the Road to a Banking Union
- Banking in Japan: A Post-global Financial Crisis Perspective
- Banking in Africa
- Banking in China
- Banking in the Transition Countries of Central, Southern, and Eastern Europe and the Former Soviet Union
- Banking in Latin America: Developments and Prospects
- Banking in Australia and New Zealand—Geographic Proximity, Market Concentration, and Banking Integration
Abstract and Keywords
A lot has happened in the ten years since the global financial crisis. This chapter starts with a summary of key regulatory and operational issues that have impacted banks in Europe, the US and elsewhere. Banks are much more heavily regulated than pre-crisis, their performance in the US and Europe has been subdued although there are signs that those in the former have turned the corner. There continues also to be ongoing discussion as well as regulatory efforts to improve banking system stability with new rules on capital, liquidity, bailouts, and bail-ins to be fully completed. These issues are covered in the first part of the chapter. We then move on to discuss emerging research themes covering areas including: banks and their impact on the real economy; capital, liquidity, and tax regulation; systemic risk; unconventional monetary policy; FinTech; bank governance and culture; financial consumer protection and financial literacy; and finally financial inclusion. The final part of the chapter provides summaries of all the chapters in the Handbook.
Allen N. Berger is the H. Montague Osteen, Jr., Professor in Banking and Finance and Ph.D coordinator of the Finance Department, Darla Moore School of Business; Carolina Distinguished Professor, University of South Carolina; Senior Fellow, Wharton Financial Institutions Center; and Fellow, European Banking Center. He also currently serves on the editorial boards of seven professional finance and economics journals. He is co-author of Bank Liquidity Creation and Financial Crises (2016, Elsevier) and is currently co-authoring TARP and other Bank Bailouts and Bail-Ins around the World: Connecting Wall Street, Main Street, and the Financial System (2019, Elsevier). He has published well over 100 professional articles including papers in top finance journals. His research has been cited over 70,000 times according to Google Scholar, and he has given invited keynote addresses on five continents. He was Senior Economist from 1989 to 2008 and Economist from 1982–9 at the Board of Governors of the Federal Reserve System. He received a Ph.D in Economics from the University of California, Berkeley in 1983, and a B.A. in Economics from Northwestern University in 1976.
Philip Molyneux is Dean of the College of Business Administration at the University of Sharjah (in the UAE). His main area of research is on the structure and efficiency of banking markets and he has published widely in this area. Recent publications appear in the Journal of Money, Credit and Banking, Journal of Financial Intermediation, Journal of Banking & Finance and the Review of Finance. He has co-written/edited over thirty-five books and is also the series editor of the Palgrave Macmillan Studies in Banking and Financial Institutions—with over 135 books in the series to date. In the past, Philip has acted as a consultant to the New York Federal Reserve Bank, World Bank, European Commission, UK Treasury, Citibank Private Bank, Barclays Wealth, McKinsey, Credit Suisse and various other international banks and consulting firms.
John O. S. Wilson is Professor of Banking and Finance and Director of the Centre for Responsible Banking & Finance based at the University of St Andrews. He is also a Member of the Scientific Advisory Board of Chartered Association of Business Schools Academic Journal Guide. Previously, he was Treasurer and General Secretary of the British Accounting and Finance Association during the period 2009–11, and the founding Chair of the British Accounting and Finance Association Financial Markets and Institutions Special Interest Group over the period 2007–18. He has guest edited special issues for Journal of Corporate Finance, Journal of Banking & Finance, Journal of Economic Behaviour & Organization, European Journal of Finance, Public Money & Management, British Accounting Review and Managerial Finance. In the period June 2011 to April 2012, John served as a full member of a Commission on Credit Unions established by the Irish Government. The Commission delivered interim and final reports to the Minister for Finance in September 2011 and April 2012 respectively. In 2018, John delivered evidence on the impact of Brexit on UK small and medium-sized enterprises to the House of Lords EU Internal Markets Committee.
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