The International Banking System Capital Adequacy, Core Businesses a
Provides a comprehensive and detailed understanding and analysis of banking businesses and their worldwide operations. Banks have become 'too big to fail', and too complex-to-manage in their inbound and outbound operations. This book gives the relevant de
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The International Banking System Capital Adequacy, Core Businesses and Risk Management Felix Lessambo
St John's University USA
palgrave macm,llan
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© Felix Lessambo 2013
All rights reserved. No reproduction, copy or transmission of this publication may be made without written permission. No portion of this publication may be reproduced, copied or transmitted save with written permission or in accordance with the provisions of the Copyright, Designs and Patents Act 1988, or under the terms of any licence permitting limited copying issued by the Copyright Licensing Agency, Saffron House, 6-10 Kirby Street, London EC1N 8TS. Any person who does any unauthorized act in relation to this publication may be liable to criminal prosecution and civil claims for damages. The author has asserted his right to be identified as the author of this work in accordance with the Copyright, Designs and Patents Act 1988. First published 2013 by PALGRAVE MACMILLAN Palgrave Macmillan in the UK is an imprint of Macmillan Publishers Limited, registered in England, company number 785998, of Houndmills, Basingstoke, Hampshire RG21 6XS. Palgrave Macmillan in the US is a division of St Martin's Press LLC, 175 Fifth Avenue, New York, NY 10010. Palgrave Macmillan is the global academic imprint of the above companies and has companies and representatives throughout the world. Palgrave® and Macmillan® are registered trademarks in the United States, the United Kingdom, Europe and other countries. ISBN 978-1-137-27512-7 This book is printed on paper suitable for recycling and made from fully managed and sustained forest sources. Logging, pulping and manufacturing processes are expected to conform to the environmental regulations of the country of origin. A catalogue record for this book is available from the British Library. A catalog record for this book is available from the Library of Congress. 10 9 8 7 6 5 4 3 2 22 21 20 19 18 17 16 15 14 13
Contents List of Tables
xv
List of Figures
xvii
Acknowledgements
xix
Disclaimer
xx
Abbreviations
xxi xxiv
Cited Cases Preface
XXV
Part I Regulators 1 The US Federal Reserve Bank 1.1 Introduction 1.2 The Organizational Structure of the Federal Reserve 1.2.1 The Board of Governors 1.2.2 The Federal Open Market Committee 1.2.3 The Federal Reserve Banks 1.3 Role and Functions of the Federal Reserve 1.4 The Federal Reserve's Policies and Processes 1.5 Activities and Responsibilities of the Federal Reserve 1.5.1 Monetary Commission 1.5.2 Policy Operations 1.5.3 Congressional Oversight of Monetary Policy 1.5.4 Open Market Operations 1.6 Independence of the Federal Reserve 1. 7 Reforming the Federal Reserve 1.8 Conclusion 2 The European Central Bank System 2.1 Introduction 2.2 Organization of the European Central Bank 2.2.1 The Executive Board 2.2.2 The Governing Council 2.2.3 The General Council 2.3 Objectives of the European Central Bank 2.3.1 The European Central Bank and Price Stability V
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Contents
2.3.2 The European Ce
