This book provides a critical analysis of The European Union’s regulatory framework for mobile payments and bitcoin. Chapters discuss the creation of the EU single market for e-payments and combine legal analysis with comparative case studies in their exploration of the regulatory challenges surrounding e-payments. The contributing authors analyse the key economic and legal issues of the development of bitcoin and mobile payments within the EU framework through a comparative lens. They cover topics ranging from user data and funds protection and the stability of the payment system to the competitiveness of the EU market.  Providing a comprehensive and methodological guide to the bitcoin and mobile payments in Europe, this book will prove an illuminating and informative read for academics, students and policy makers with an interest in the impact of innovation on payment systems.    

The 2008 financial crisis—like the Great Depression—was a world-historical event. What caused it will be debated for years, if not generations. The conventional narrative is that the financial crisis was caused by Wall Street greed and insufficient regulation of the financial system. That narrative produced the Dodd-Frank Act, the most comprehensive financial-system regulation since the New Deal. There is evidence, however, that the Dodd-Frank Act has slowed the recovery from the recession. If insufficient regulation caused the financial crisis, then the Dodd-Frank Act will never be modified or repealed; proponents will argue that doing so will cause another crisis.A competing narrative about what caused the financial crisis has received little attention. This view, which is accepted by almost all Republicans in Congress and most conservatives, contends that the crisis was caused by government housing policies. This book extensively documents this view. For example, it shows that in June 2008, before the crisis, 56 percent of all US mortgages were subprime or otherwise low-quality. Of these, 76 percent were on the books of government agencies such as Fannie Mae and Freddie Mac. When these mortgages defaulted in 2007 and 2008, they drove down housing prices and weakened banks and other mortgage holders, causing the crisis.After this book is published, no one will be able to claim that the financial crisis was caused by insufficient regulation, or defend Dodd-Frank, without coming to terms with the data this book contains.

Never before has risk management been so important. Now in its third edition, this seminal work by Joël Bessis has been comprehensively revised and updated to take into account the changing face of risk management. Fully restructured, featuring new material and discussions on new financial products, derivatives, Basel II, credit models based on time intensity models, implementing risk systems and intensity models of default, it also includes a section on subprime that discusses the crisis mechanisms and makes numerous references throughout to the recent stressed financial conditions. The book postulates that risk management practices and techniques remain of major importance, if implemented in a sound economic way with proper governance. Risk Management in Banking, Third Edition considers all aspects of risk management emphasizing the need to understand conceptual and implementation issues of risk management and examining the latest techniques and practical issues, including: Asset-Liability Management Risk regulations and accounting standards Market risk models Credit risk models Dependencies modeling Credit portfolio models Capital Allocation Risk-adjusted performance Credit portfolio management Building on the considerable success of this classic work, the third edition is an indispensable text for MBA students, practitioners in banking and financial services, bank regulators and auditors alike. ISBN 978-0-470-01912-2 [insert Wiley logo and ISBN barcode]

Book by Mertens, Carol

''In a time of mind-boggling complexity in financial regulation - too complex, according to Ben Bernanke, for the Federal Reserve System to understand its impact - Lessons Not Learned is a refreshing call to return to a simpler, more basic approach. Susanne Trimbath emphasizes that the failure to implement regulations, a key factor in the crisis of 2008, remains the system's Achilles heel. This book features a refreshing combination of research grounding and pragmatic experience. A must read for taxpayers and their representatives!'' -- Jerry Caprio, (currently) Williams College, (formerly - 1988-2005) World Bank, Director, Operations and Policy Department, Financial Sector Vice Presidency *** Much has been written and spoken about the lessons learned from the financial crisis of 2009. This book lists the lessons not learned before the financial crisis. It demonstrates that the theoretical and intellectual frameworks for regulating financial systems that had been available since at least 2001 could have prevented the systemic failure in the United States that led to the collapse of global credit markets in 2007-2009. Step-by-step, the book will guide readers through what can be done right now, and/or what could have been done before 2008 or the Dodd-Frank Act. The book concludes with a key idea for how to make financial service businesses stand out from the crowd and be successful in the coming decades. The list of '10 Steps' is quite straight-forward and simple: ** Have private, independent rating agencies. ** Provide some government safety net, but not so much that banks are not held accountable ("Too Big to Fail"). ** Allow very little government ownership and control of national financial assets. ** Allow banks to reduce the volatility of returns by offering a wide-range of services. ** Require financial market players to register and be authorized. ** Provide information, including setting standards, to enhance market transparency. ** Routinely examine financial institutions to ensure that the regulatory code is obeyed. ** Enforce the code and discipline transgressors. ** Develop policies that keep the regulatory code up-to-date. ** Encourage the creation of specialized financial institutions. For each step, the reader will find legislative/regulatory background on the existing rules, plus what academic work is available on the theory. The book also includes facts showing where they were not implemented/enforced in the US (with examples of countries that did get it right), where applicable, and data supporting the connection between the steps and the events of 2008. *** Librarians: ebook available *** "A truly impressive and articulate analysis, 'Lessons Not Learned: 10 Steps to Stable Financial Markets' should be a part of every community, governmental, corporate, NGO, college, and university Contemporary Economics reference collection and supplemental studies reading list." -- Midwest Book Review, MBR Bookwatch: February 2016, Helen's Bookshelf [Subject: Economics, Finance]