By Morten Balling, Elizabeth Hennessy, Eduard H. Hochreiter

ISBN-10: 0203995554

ISBN-13: 9780203995556

ISBN-10: 0415252407

ISBN-13: 9780415252409

According to a colloquium held by means of SUERF together with the Austrian nationwide financial institution, this booklet addresses the difficulty of adapting to the calls for of economic globalisation, a urgent preoccupation of bankers monetary associations and monetary professionals.

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5 book value were to be paid in cash, the acquiring institution would have to amortize the goodwill, the excess of the price over the book value, namely 60%, against its shareholder’s equity. Few banks are financially strong enough to afford large cash transactions. In cross-border deals, cost-cutting is more difficult to materialize for central functions as information systems, tax systems, products lines tend to remain national. In particular, Europe remains divided by its payment habits: some countries prefer checks while others favor giros.

Not only have the twelve countries directly involved implemented it with regard to their internationally active banks, so have a large number of other countries. In the EU, where the relevant directives are closely modelled on the principles of the Accord, the decision was made to let this capital regime apply not just to the big internationally active banks, but also to domestic banks and all other regulated credit institutions. Given that the activities of banks and investment firms are to a large degree overlapping, the EU also decided to include investment firms.

In most, if not all of the countries the basic traits of the capital requirements for banks are fixed by law and neither banking supervisors nor central bankers can make promises concerning legislation. I think that everybody agrees that the Basel Accord has been remarkably successful, despite – or perhaps because of – its rather informal character. Not only have the twelve countries directly involved implemented it with regard to their internationally active banks, so have a large number of other countries.

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Adapting to Financial Globalisation by Morten Balling, Elizabeth Hennessy, Eduard H. Hochreiter


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