The U.S. Banking System Laws, Regulations, and Risk Management
The U.S. banking system differs from many countries both in the range of services supplied and the complexity of operations. Meanwhile, the U.S. financial markets have become the attraction of worldwide investors. This book explains the three key aspects
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The U.S. Banking System Laws, Regulations, and Risk Management
The U.S. Banking System
Felix I. Lessambo
The U.S. Banking System Laws, Regulations, and Risk Management
Felix I. Lessambo School of Business Central Connecticut State University New Britain, CT, USA
ISBN 978-3-030-34791-8 ISBN 978-3-030-34792-5 (eBook) https://doi.org/10.1007/978-3-030-34792-5 © The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2020 This work is subject to copyright. All rights are solely and exclusively licensed by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, expressed or implied, with respect to the material contained herein or for any errors or omissions that may have been made. The publisher remains neutral with regard to jurisdictional claims in published maps and institutional affiliations. This Palgrave Macmillan imprint is published by the registered company Springer Nature Switzerland AG The registered company address is: Gewerbestrasse 11, 6330 Cham, Switzerland
Contents
1
Overview of the US Banking System 1
Part I The Legal Background 2
Banking Laws 9
3
The Crypto-currency Regulations 21
4
Anti-Money Laundering Laws 37
Part II Actors: Regulators and Banks 5
The Regulators 69
6
Commercial Banks and Savings Banks 93
7
Investment Banks 99
8
Merchant Banks 115
v
vi
9
CONTENTS
Credit Union 125
10 Public Bank—Bank of North Dakota 139 Part III Risks and Banking Regulation 11 Risks in the Banking Industry 159 12 Banking Regulation Principles 177 13 Banks’ Capital Adequacy 185 14 Comprehensive Capital Analysis and Review (CCAR) and the Dodd–Frank Stress Testing 209 Part IV Financial Statements and Statement Analysis 15 Commercial Banks’ Financial Statements 243 16 Commercial Bank’s Financial Ratios Analysis 259 Part V Auditing and Bankruptcy 17 Bank Audit Systems 279 18 Bank Bankruptcy 297 Glossary 317 Bibliography 323 Index 329
Acronyms
AIRB AMA BCBS CCAR CCF CECL CET1 CFPB CFTC CLF CRA CSBC DFA DFAST EBA ECL EL ERBA FDCPA FDIC FED FFIEC FinCEN FOMC FRBNY FSOC
Advance Internal Rating-Based Approach Advanced Measurement Approach Basel Committee on Banking Super
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