Global ETD Search

111	Determinants of asset quality in South African banks Erasmus, Coert Frederik 06 1900 (has links) The maturity transformation of deposits is a primary driver of economic growth, as loans enable borrowers to spend funds, thereby growing the economy. However, if borrowers cannot repay their loans, the asset quality of banks deteriorate, resulting in non-performing loans or, worse, an economic crisis. An understanding of how macroeconomic and microeconomic determinants impact bank asset quality in South Africa can contribute to knowledge of the bank asset quality phenomenon in the African context. Due to the 2008/2009 global financial crisis, the introduction of new legislation and the value of gold exports, the South African economy presents an opportunity to make an original contribution to the knowledge of determinants that influence bank asset quality. In addition to studying bank asset quality determinants that are contested in research, this study also aims to determine whether a superior returns determinant of non-performing loans exists when comparing a bank’s profitability determinants, namely return on assets, return on equity and interest income on loans. This study applied panel data regression analysis, making use of a balanced panel approach, to study the determinants of bank asset quality. This approach recontextualises the existing bank asset quality theory for the South African financial sector. The results indicate that South Africa is not resilient against the impact of global financial crises trickling through international trade linkages and that regulatory changes do not instantly improve bank asset quality, and may even reduce the short-term asset quality. Moreover, bank asset quality in South Africa is sensitive to the total value of gold exports. It is evident from the profitability measures that the interest income on loans is the most suitable profitability measure of bank asset quality. This study provides an original contribution to bank asset quality determinants and recommends that regulators should pre-emptively determine the impact of new legislation on bank asset quality. Furthermore, interest income on loans as a profitability measure provides the most accurate results. Lastly, a single-country bank asset quality analysis is important, especially for economies that have commodity exports that significantly weigh in on the bank asset mix. / Die termyntransformasie rakende deposito's is die primêre dryfkrag vir groei in die ekonomie: Lenings maak dit vir leners moontlik om fondse te bestee, wat die ekonomie laat groei. Indien hierdie leners hul lenings egter nie kan terugbetaal nie, gaan die gehalte van bankbates agteruit, wat tot wanpresterende lenings of, nog erger, tot 'n ekonomiese krisis kan lei. As begryp kan word hoe makro-ekonomiese en mikro-ekonomiese bepalende faktore op die gehalte van bankbates in Suid-Afrika inwerk, kan dit bydra tot kennis van die verskynsel van bankbategehalte in die Afrika-konteks. In die lig van die 2008/2009 wêreldwye finansiële krisis, die uitvaardiging van nuwe wetgewing en die waarde van gouduitvoere bied die Suid-Afrikaanse ekonomie ’n geleentheid om ’n oorspronklike bydrae te lewer tot kennis van die bepalende faktore wat bankbategehalte beïnvloed. Benewens die bestudering van die bepalende faktore van die gehalte van bankbates wat in navorsing redelik omstrede is, het hierdie studie ten doel om, wanneer 'n bank se winsgewendheidsbepalers, naamlik opbrengs op bates, opbrengs op ekwiteit (eiekapitaal) en rente-inkomste op lenings, met mekaar vergelyk word, vas te stel of daar ’n superieure opbrengsbepaler van wanpresterende lenings bestaan. Vir hierdie studie is ’n regressieontleding van paneeldata uitgevoer, en daar is van ’n gebalanseerde paneelbenadering gebruik gemaak om die bepalende faktore van bankbategehalte te bestudeer. Hierdie benadering herkontekstualiseer die bestaande bankbategehalteteorie vir die Suid-Afrikaanse finansiële sektor. Die resultate van die studie dui daarop dat Suid-Afrika nie veerkragtig is om die uitwerking van wêreldwye finansiële krisisse teen te werk wat met internasionale handelskakelings deursyfer nie en dat reguleringsveranderinge nie dadelik die bankbategehalte verbeter nie; dit kan inteendeel die korttermynbategehalte verlaag. Bowendien is die bankbategehalte in Suid-Afrika gevoelig vir die totale waarde van gouduitvoere. Dit blyk uit die winsgewendheidsmaatstawwe dat die rente-inkomste op lenings die mees geskikte winsgewendheidsmaatstaf van bankbategehalte is. Hierdie studie lewer ’n oorspronklike bydrae tot die bepalers van bankbategehalte en beveel aan dat reguleerders vooruit reeds die uitwerking van nuwe wetgewing op bankbategehalte moet bepaal. Daarby voorsien rente-inkomste op lenings as winsgewendheidsmaatstaf die akkuraatste resultate. Laastens is ’n ontleding van ’n enkele land se bankbategehalte van belang, in die besonder vir ekonomieë met kommoditeitsuitvoere wat beduidend tot die samestelling van bankbates bydra. / Kadimo ya nako ye kopana ya ditipositi ke mokgwa wo bohlokwa wa kgolo ya ekonomi, ka ge dikadimo di dumelela baadimi go šomiša matlotlo, go realo e le go godiša ekonomi. Efela, ge baadimi ba sa kgone go lefela dikadimo tša bona, boleng bja thoto ya dipanka bo a phuhlama, go feleletša go e ba le dikadimo tše di sa šomego gabotse goba, go feta fao, phuhlamo ya ekonomi. Kwešišo ya ka fao ditaetšo tša makroekonomi le maekroekonomi di huetšago boleng bja thoto ya panka ka Afrika Borwa e ka ba le seabe go tsebo ya taba ya boleng bja thoto ya panka go ya ka seemo sa Afrika. Ka lebaka la mathata a ditšhelete a lefase a 2008/2009, tsebišo ya molao wo moswa le boleng bja dithomelontle tša gauta, ekonomi ya Afrika Borwa e fa sebaka seabe sa mathomo tsebong ya ditaetšo tšeo di huetšago boleng bja thoto ya panka. Go tlaleletša nyakišišong ya ditaetšo tša boleng bja thoto ya panka tšeo di ganetšwago nyakišišong, maikemišetšo a nyakišišo ye gape ke go laetša ge eba taetšo ya letseno le legolo la dikadimo tše di sa šomego gabotse di gona ge go bapetšwa ditaetšo tša poelo ya panka, e lego letseno la dithoto, letseno la dišere le letseno la dikadimo. Nyakišišo ye e šomišitše tshekatsheko ya poelomorago ya datha ya phanele, ya go šomiša mokgwa wa phanele wo o lekaneditšwego, go nyakišiša ditaetšo tša boleng bja thoto ya panka. Mokgwa wa go tšwetšapele gape teori ya boleng bja thoto ya panka ya lekala la Afrika Borwa la ditšhelete. Dipoelo di laetša gore Afrika Borwa ga e fokole kgahlanong le khuetšo ya mathata a ditšhelete a lefase ao a rothelago ka dikamanong tša kgwebišano ya boditšhabatšhaba le gore diphetogo tša taolo ga di kaonafatše boleng bja thoto ya panka ka lebelo, gomme di ka fokotša le boleng bja thoto bja paka ye kopana. Go feta fao, boleng bja thoto ya panka ka Afrika Borwa bo ela hloko boleng bja palomoka bja dithomelontle tša gauta. Go a bonagala go tšwa go dikgato tša tiro ya poelo gore letseno la tswala godimo ga dikadimo ke kgato ya poelo ye maleba gagolo ya boleng bja thoto ya panka. Nyakišišo ye e fa seabe sa mathomo ditaetšo tša boleng bja thoto ya panka gomme e šišinya gore balaodi ba swanela go laetša e sa le ka pela khuetšo ya molao wo moswa ka ga boleng bja thoto ya panka. Go feta fao, letseno la tswala godimo ga dikadimo bjalo ka kelo ya tiro ya poelo le go fa dipoelo tše di lebanego gabotse. Sa mafelelo, tshekatsheko ya boleng bja thoto ya panka ya naga e tee, kudu diekonomi tšeo di nago le dithomelontle tša ditšweletšwa tšeo gagolo di dumelelago motswako wa thoto ya panka. / Business Management / Ph. D. (Management Studies) Bank asset quality Commodity exports Global financial crisis (GFC) Legislation Non-performing loans Profitability measures South Africa 332.1015195 Banking law -- South Africa Global Financial Crisis, 2008-2009
112	Defining community need through the lens of the elite : a history of the Indianapolis Foundation and its funding of the Indianapolis Symphony Orchestra, 1893-1984 Hardy, Marc Alan 16 November 2012 (has links) Indiana University-Purdue University Indianapolis (IUPUI) / This history investigates the beginnings of community foundations in general and the creation of the Indianapolis Foundation specifically and its eventual funding of the Indianapolis Symphony Orchestra. My findings reveal that, contrary to previous histories that have been written, the creation of community foundations was not driven by benevolence but by changes in federal and state banking laws starting in 1913 that allowed banks to have trust departments that broke the monopoly that trust companies had long enjoyed. In response, trust company executives chartered community trusts to publicly position themselves as benevolent, community-minded businessmen. This distinguished them as trustworthy compared to the greedy bankers of the day, which helped trust companies gain trust customers. Community trusts were responsible for identifying and disbursing funds to deserving beneficiaries, thereby relieving trust companies of a costly and time consuming burden. Even more important, the trust companies retained control over the community trusts by appointing surrogate board members. In addition, none of the trust companies that chartered the Indianapolis Foundation donated their own money, yet appeared charitable. All of these factors made community foundations a very lucrative arrangement. Funding the areas of arts and culture was not designated in the Indianapolis Foundation’s original purpose statement, yet the Indiana State Symphony Society was funded at the height of the Great Depression while many Indianapolis citizens went hungry. The love of music played a very small part in efforts by the wealthy elite to garner support from the Indianapolis Foundation for the Indianapolis Symphony Orchestra. The public justifications for funding the symphony began with giving psychological relief to the citizens of Indianapolis from the pressures of the Great Depression, to the need of employment for musicians, then the importance of musical education of children, expanding to the importance of the symphony to the city’s reputation, and finally, in the 1980s, the symphony as a community asset that helped rejuvenate downtown Indianapolis. However, the real reason for funding was that the wealthy elite wanted the symphony to use as a flattering cultural institution that would elevate their social status and attract fellow elites and businesses to Indianapolis. Indianapolis Symphony Orchestra Indianapolis Foundation Indiana State Symphony Society Banking law -- Indiana -- Indianapolis Indianapolis (Ind.) -- Social conditions
113	Aspects of money laundering in South African law Van Jaarsveld, Izelde Louise 04 1900 (has links) Money laundering involves activities which are aimed at concealing benefits that were acquired through criminal means for the purpose of making them appear legitimately acquired. Money laundering promotes criminal activities in South Africa because it allows criminals to keep the benefits that they acquired through their criminal activities. It takes place through a variety of schemes which include the use of banks. In this sense money laundering control is based on the premise that banks must be protected from providing criminals with the means to launder the benefits of their criminal activities. The Financial Intelligence Centre Act 38 of 2001 (‘FICA’) in aggregate with the Prevention of Organised Crime Act 121 of 1998 (‘POCA’) form the backbone of South Africa’s anti-money laundering regime. Like its international counterparts FICA imposes onerous duties on banks seeing that they are most often used by criminals as conduits to launder the benefits of crime. In turn, POCA criminalises activities in relation to the benefits of crime and delineates civil proceedings aimed at forfeiting the benefits of crime to the state. This study identifies the idiosyncrasies of the South African anti-money laundering regime and forwards recommendations aimed at improving its structure. To this end nine issues in relation to money laundering control and banks are investigated. The investigation fundamentally reveals that money laundering control holds unforeseen consequences for banks. In particular, a bank that receives the benefits of crimes such as fraud or theft faces prosecution if it fails to heed FICA’s money laundering control duties, for example, the filing of a suspicious transaction report. However, if the bank files a suspicious transaction report, it may be sued in civil court by the customer for breach of contract. In addition, if the bank parted with the benefits of fraud or theft whilst suspecting that the account holder may not be entitled to payment thereof, it may be sued by the victim of fraud or theft who seeks to recover loss suffered at the hand of the fraudster or thief from the bank. Ultimately, this study illustrates that amendment of some of the provisions of South Africa’s anti-money laundering legislation should enable banks to manage the aforementioned and other unforeseen consequences of money laundering control whilst at the same time contribute to the South African anti-money laundering effort. / Criminal and Procedural Law / Mercantile Law / LL.D. Money laudering control Banks Globalisation of criminal activity Money Bank-customer relationship Bank confidentiality Safe-harbour provisions Ownership of deposited money Proceeds of crime Statement of Principles Forty Recommendations Council of Europe Third Anti-Money Laundering Directive KYC Standard Customer due diligence Vienna Convention Strasbourg Convention Proceeds of Crime Act 2002 Bank Secrecy Act Patriot Act Financial Crimes Enforcement Network Common-law ownership remedies Constructive trust Tracing Rei vindicatio Quasi-vindictory action Actio Pauliana Interdicts Unjust enrichment condictiones Civil forfeiture Innocent owner defence 345.268068 Money laundering -- Prevention Banking law -- South Africa Banking law
114	Aspects of money laundering in South African law Van Jaarsveld, Izelde Louise 04 1900 (has links) Money laundering involves activities which are aimed at concealing benefits that were acquired through criminal means for the purpose of making them appear legitimately acquired. Money laundering promotes criminal activities in South Africa because it allows criminals to keep the benefits that they acquired through their criminal activities. It takes place through a variety of schemes which include the use of banks. In this sense money laundering control is based on the premise that banks must be protected from providing criminals with the means to launder the benefits of their criminal activities. The Financial Intelligence Centre Act 38 of 2001 (‘FICA’) in aggregate with the Prevention of Organised Crime Act 121 of 1998 (‘POCA’) form the backbone of South Africa’s anti-money laundering regime. Like its international counterparts FICA imposes onerous duties on banks seeing that they are most often used by criminals as conduits to launder the benefits of crime. In turn, POCA criminalises activities in relation to the benefits of crime and delineates civil proceedings aimed at forfeiting the benefits of crime to the state. This study identifies the idiosyncrasies of the South African anti-money laundering regime and forwards recommendations aimed at improving its structure. To this end nine issues in relation to money laundering control and banks are investigated. The investigation fundamentally reveals that money laundering control holds unforeseen consequences for banks. In particular, a bank that receives the benefits of crimes such as fraud or theft faces prosecution if it fails to heed FICA’s money laundering control duties, for example, the filing of a suspicious transaction report. However, if the bank files a suspicious transaction report, it may be sued in civil court by the customer for breach of contract. In addition, if the bank parted with the benefits of fraud or theft whilst suspecting that the account holder may not be entitled to payment thereof, it may be sued by the victim of fraud or theft who seeks to recover loss suffered at the hand of the fraudster or thief from the bank. Ultimately, this study illustrates that amendment of some of the provisions of South Africa’s anti-money laundering legislation should enable banks to manage the aforementioned and other unforeseen consequences of money laundering control whilst at the same time contribute to the South African anti-money laundering effort. / Criminal and Procedural Law / Mercantile Law / LL.D. Money laudering control Banks Globalisation of criminal activity Money Bank-customer relationship Bank confidentiality Safe-harbour provisions Ownership of deposited money Proceeds of crime Statement of Principles Forty Recommendations Council of Europe Third Anti-Money Laundering Directive KYC Standard Customer due diligence Vienna Convention Strasbourg Convention Proceeds of Crime Act 2002 Bank Secrecy Act Patriot Act Financial Crimes Enforcement Network Common-law ownership remedies Constructive trust Tracing Rei vindicatio Quasi-vindictory action Actio Pauliana Interdicts Unjust enrichment condictiones Civil forfeiture Innocent owner defence 345.268068 Money laundering -- Prevention Banking law -- South Africa Banking law
115	Harmonisation européenne du crédit hypothécaire: perspectives de droit comparé, de droit international privé et de droit européen / European harmonization of mortage backed loans from a perspective of comparative law, private international law and european law Van den Haute, Erik 02 October 2008 (has links) La réalisation du marché intérieur européen par une meilleure intégration des marchés financiers est aujourd’hui devenue une réalité. L'objectif est toutefois loin d'être atteint en matière de crédit hypothécaire, nonobstant de nombreuses initiatives européennes. Compte tenu de ces difficultés et du postulat selon lequel il serait impossible d'harmoniser le droit des suretés immobilières en raison de leur ancrage culturel et national, une proposition alternative consistant dans la création d'une sûreté immobilière commune (euro-hypothèque), venant se superposer aux systèmes nationaux, a été formulée depuis un certain nombre d'années. La recherche analyse dans un premier temps la réalité du postulat précité à la lumière du droit comparé et conclut qu'en réalité, les différents systèmes trouvent non seulement leur origine dans un modèle identique, fondé sur le caractère accessoire de la sûreté, mais ont en outre connu une évolution similaire au cours de ces dernières années. Il apparaît que ce modèle constitue la meilleure base pour toute harmonisation européenne. Après avoir examiné l'interaction avec le droit international privé, sous l'angle de la protection du consommateur, et le droit européen, sous l'angle de la question de la compétence communautaire et du principe de subsidiarité, des pistes sont proposés pour opérer un rapprochement des législations nationales relatives au crédit hypothécaire. La proposition consiste à intégrer dans un seul instrument juridique contraignant (une directive européenne) les différentes propositions permettant d'opérer un rapprochement des législations nationales à trois niveaux :celui de la sûreté immobilière et de la publicité foncier, celui du contrat de prêt et enfin, celui relatif à la procédure de réalisation de l'immeuble. / Doctorat en droit / info:eu-repo/semantics/nonPublished Droit Criminologie Comparative law Droit comparé droit bancaire publicité foncière sûretés Rome convention financial law land registry consommateur euro-hypothec consumer protection euro-hypothèque/ banking law droit financier securities convention de Rome collaterals
116	Financial systems: essays on the cultural determinants and the relevance for economic development / Systèmes financiers: essais sur les déterminants culturels et l'importance pour le développement économique Gheeraert, Laurent 17 December 2009 (has links) The thesis analyzes macro-economic determinants and roles of financial sector development.<p> The literature argues that the size and efficiency of both banking systems and financial markets - the two major components of a financial system - matter for economic development. In the same vein, the quality of financial institutions and regulations are instrumental in the construction of a strong financial system.<p> We study several aspects of financial sector development in relation to three recent phenomena, namely, the rise of Islamic banking and finance, the increasing interest for emerging stock markets, and the growing remittance flows.<p> This thesis is made up of three essays.<p> The first essay extends the literature on the determinants of financial sector development, from the angle of culture. We show that, on average, Islamic finance favors the development of the banking sector in Muslim countries. We provide evidence that several countries have indeed been successful in launching a new, Shariah-compliant, banking system, while not harming the existing, conventional, banking sector. Our empirical analysis uses a newly-constructed original database on the size and performance of Islamic deposit banks globally over the period 2000 to 2005.<p> The second essay focuses on stock markets, in particular, the less-studied emerging equity markets. We confirm traditional literature findings on unconditional stock returns, over a panel of 53 Major and Frontier markets. Mainly, volatility is high, big surprises happen, and return correlations with the rest of the world are low but have been rising over the last decades. In spite of large differences in market size and liquidity, Frontier market returns are qualitatively similar to Major markets', except correlations, which are lower in Frontier markets. At current correlation levels, the latter continue to bring substantial diversification benefits to international investors.<p> The last essay examines the relationship between remittances and economic growth. It confirms that remittances are important for developing countries as they stimulate domestic investment. It then demonstrates, theoretically and empirically, that improving the access to bank deposit accounts is crucial to channel remittances to more productive uses. This is even more true when the access to international borrowing is costly.<p> The 2008-2009 financial crisis has propelled the improvement of financial systems to the top of policymakers' agendas. Our work contributes to a better understanding of the importance of finance in economic outcomes. It also brings a novel perspective on the determinants of financial systems./<p> Notre thèse a pour objet l'étude des déterminants et des rôles macro-économiques des secteurs financiers dans le monde.<p> Selon la littérature scientifique, la taille et l'efficacité des systèmes bancaires et des marchés financiers - les deux composantes principales d'un système financier - sont importantes pour le développement économique. Il apparaît également que la qualité des institutions et des régulations financières contribuent à la création d'un système financier fort.<p> Au travers de trois essais, nous examinons plusieurs aspects du développement du secteur financier, qui sont en relation avec trois phénomènes récents; à savoir: la croissance de la finance islamique, l'intérêt grandissant pour les marchés boursiers émergents, et l'augmentation des flux de transferts de fonds des migrants.<p> Dans le premier essai, nous nous intéressons aux facteurs culturels comme déterminants des secteurs financiers et, en particulier, au rôle de la religion musulmane. Nous montrons que, en moyenne, la finance islamique favorise le développement du secteur bancaire dans les pays musulmans. Plusieurs pays ont en effet réussi à développer un nouveau secteur bancaire compatible avec la Shariah, sans porter ombrage au secteur bancaire non islamique avec lequel il co-existe. Notre analyse empirique est fondée sur une base de données nouvelle et originale. Celle-ci a pour intérêt de fournir des indicateurs de taille et de performance des banques islamiques de dépôt dans le monde, pour la période 2000-2005.<p> Dans le deuxième essai, nous explorons les rendements inconditionnels obtenus sur les marchés boursiers, en particulier les marchés émergents d'actions. Notre analyse d'un large panel de 53 marchés émergents "Majeurs" et "Frontières" confirme les résultats traditionnellement observés dans la littérature. Ainsi, pour l'essentiel, les deux types de marchés sont volatils et émaillés d'événements extrêmes. De plus, les rendements des marchés émergents sont faiblements corrélés avec ceux du reste du monde, même si ces corrélations ont augmenté au cours des derniers décennies. Malgré d'importantes différences en terme de taille et de liquidité, les rendements sur marchés "Frontières" sont qualitativement similaires à ceux des marchés "Majeurs", à l'exception des corrélations. Ces dernières sont en effet actuellement plus faibles dans les marchés "Frontières", qui continuent dès lors à offrir d'importants bénéfices de diversification aux investisseurs internationaux.<p> Dans le dernier essai, nous examinons la relation entre les transferts d'argent des migrants et la croissance économique. Nous confirmons l'idée que les transferts de fonds des migrants sont importants pour les pays en voie de développement. Mais surtout, nous démontrons, de manière théorique et empirique, qu'il est crucial de faciliter dans ces pays l'accès aux comptes de dépôt bancaires, afin de transformer une plus grande part des transferts des migrants en investissements productifs. Ceci est d'autant plus vrai quand l'accès aux autres sources de capitaux internationaux est coûteux.<p> En conclusion, la crise financière de 2008-2009 a fait de l'amélioration des systèmes financiers la priorité de nombreuses politiques économiques. Dans cette perspective, notre travail apporte une contribution à une compréhension plus fine de l'importance de la finance pour l'économie, ainsi qu'une vision novatrice des déterminants des systèmes financiers. / Doctorat en Sciences économiques et de gestion / info:eu-repo/semantics/nonPublished Sciences sociales Economie Macroeconomics Capital market Banks and banking Banking law (Islamic law) Finance (Islamic law) Stock exchanges -- Developing countries Emigrant remittances Macroéconomie Marché financier Banques Banques -- Droit islamique Finances -- Droit islamique Bourse -- Pays en développement Envois de fonds des émigrants transfert d’argent des migrants ouverture internationale coût de transaction rendement investissement moments marchés émergents marchés frontières croissance religion international openness/culture transaction cost growth moments ;remittances investment equity returns frontier markets growth ;emerging stock markets financial sector development Islamic finance culture
117	Cash is [no longer] king: is an e-krona the answer? : - a de lege ferenda investigation of the Swedish Riksbank's issuing mandate and other legal callenges in relation to economic effects on the payment market Imamovic, Arnela January 2019 (has links) For the past decades, the Swedish public’s payment habits have changed, where the majority of the public has abandoned the old way of making payments, using cash, and instead opted for more modern payment solutions, digital money. The difference between cash and digital money is that cash is physical and only issued by the Riksbank, whereas digital money is created by and stored on accounts at commercial banks. The question of what role the state should have on the payment market is an important point of discussion. But it is not categorically a new question; the Swedish government is tackling essentially the same problem today as it has been doing many times before. Today’s problem is to some extent however manifested in a different way. During the 20th century, discussions were held whether or not the Riksbank should have the exclusive right to issue banknotes. It was considered unnecessary, inappropriate and dangerous. The idea that the Riksbank could cover the entire economy’s need for banknotes was, according to the commercial banks, unreasonable. Nonetheless, in 1904 the exclusive right became fait accompli; the government intervened and gave the Riksbank the banknote monopoly. We are now finding ourselves facing a similar situation, where there is a difference of opinion regarding the Riksbank’s role on the payment market. It is therefore nothing new, but rather an expected task for the government, and thus the central bank, to analyze major changes and draw conclusions from them. The problem is essentially about cash being phased out by digital means of payment. In order to therefore solve the problem, the Riksbank has started a project to investigate whether or not the Riksbank should issue digital cash to the Swedish public, what the Riksbank calls an e-krona. To introduce an e-krona would be a major step, but for the public to not have access to a government alternative, seeing as cash usage is declining, is also a major step. No decision has been made yet regarding whether the e-krona will be introduced on the market or not. A decision that however has been made, is that the Riksbank is now working on building an e-krona to develop and assess the technique. Nonetheless, an introduction would undoubtedly have consequences for both the Riksbank and the commercial banks, which ultimately means it would have effects on the economy as a whole. What about regulatory aspects; is the Riksbank even allowed to issue an e-krona under current legislation? The answer is affirmative, to a certain extent. There are furthermore many other uncertainties regarding how an e-krona would affect the economy; the Riksbank does not fully answer many of the system issues in its project reports. The question of whether or not it even is up to the Riksbank to make a decision on the matter of an introduction is also questioned by the author in the thesis. E-crown e-crown project central bank digital currency money cash banknotes and coins physical money tangibles currency legal tender the Swedish Riksbank Act commercial bank money digital money the Swedish Riksbank central bank commercial bank bank banking law law jurisprudence monetary policy safe and efficient payment system cash-provision economy the payment system digitalization development of society fractional reserve banking bank run zero lower bound E-krona e-kronaprojekt digital centralbankspeng pengar kontanter sedlar och mynt fysiska pengar valuta lagliga betalningsmedel affärsbankspengar digitala pengar Riksbanken centralbank affärsbank bank bankrätt juridik Lag (1988:1385) om Sveriges riksbank penningpolitik säkert och effektivt betalningsväsende kontantförsörjning ekonomi betalningssystemet digitalisering samhällsutveckling fractional reserve banking bankrusning zero lower bound Law and Society Juridik och samhälle
118	La liberté contractuelle du banquier : réflexions sur la sécurité du système financier / The contractual freedom of the banker : reflections on the safety of financial system Maymont, Anthony 17 December 2013 (has links) La liberté contractuelle du banquier est une liberté parmi d’autres. Cependant, elle est la plus sensible dans lamesure où elle peut avoir des répercussions sur son activité. A priori sans limites aujourd’hui, cette liberté auraitmême des conséquences indéniables sur la sécurité du système financier en facilitant le phénomène des« bulles ». Le contrat, situé au coeur de l’activité bancaire et financière, serait ainsi la cause de cette réalité. Leschocs récents, telles les crises financières, imposent l´examen détaillé des opérations bancaires nationales maisaussi internationales, notamment celles les plus dangereuses. Encore méconnue, la mesure de la libertécontractuelle du banquier s’avère nécessaire pour en proposer une relecture. L’objectif n’est donc pas d’excluretoute liberté au banquier mais de définir le degré de liberté contractuelle à lui accorder pour chaque opération.L´idée étant de lui octroyer un niveau satisfaisant de liberté tout en assurant la sécurité du système financier.L’enjeu repose finalement sur la conciliation de l’impératif contractuel, résultant de la liberté contractuelle dubanquier, avec l’impératif de sécurité du système financier, nécessaire à la pérennité des banques et del’économie mondiale. / The contractual freedom of the banker is a freedom among the others. However, it is the most sensitive in so faras it can affect on his activity. Apparently unlimited today, this freedom would have even undeniableconsequences on the safety of the financial system by facilitating the phenomenon of “speculative bubbles”. Thecontract, situated in the heart of the banking and financial activity, would be thus the cause of this reality. Therecent shocks, such as financial crises, require the detailed examination of the national but also internationalbank transactions, especially the most dangerous. Still ignored, the measurement of the contractual freedom ofthe banker proves to be necessary to propose a review. The aim is not thus to rule any banker’s freedom out butto define the degree of contractual freedom to grant to him for each transaction. The idea being to grant him asatisfactory level of freedom while ensuring the safety of financial system. The stake rests finally on theconciliation of the contractual requirement, resulting from the contractual freedom of the banker, with the safetyrequirement of the financial system, necessary for the sustainability of banks and worldwide economy. Liberté contractuelle Droit commun Ordre public Banque Droit bancaire Droit financier Instruments financiers Contrats financiers à terme Risques financiers Système financier Stabilité Sécurité Marchés financiers Crises financières Réglementation prudentielle Crédits Titrisation Garanties Dérivés de crédit Transparence Secret professionnel Conflits d’intérêts Codes de bonne conduite Participations bancaires Compensation Contractual freedom Common law Law and order Bank Banking law Financial law Financial instruments Financial futures Financial risks Financial system Stability Safety Financial markets Financial crisis Prudential regulation Bank credits Securitization Guarantees Credit derivatives Transparency Professional secrecy Conflicts of interests Code of conduct Banking holdings Compensation 346
119	Legal and regulatory aspects of mobile financial services Perlman, Leon Joseph 11 1900 (has links) The thesis deals with the emergence of bank and non-bank entities that provide a range of unique transaction-based payment services broadly called Mobile Financial Services (MFS) to unbanked, underserved and underbanked persons via mobile phones. Models of MFS from Mobile Network Operators (MNOs), banks, combinations of MNOs and banks, and independent Mobile Financial Services Providers are covered. Provision by non-banks of ‘bank-type’ services via mobile phones has been termed ‘transformational banking’ versus the ‘additive banking’ services from banks. All involve the concept of ‘branchless banking’ whereby ‘cash-in/cash out’ services are provided through ‘agents.’ Funds for MFS payments may available through a Stored Value Product (SVP), particularly through a Stored Value Account SVP variant offered by MNOs where value is stored as a redeemable fiat- or mobile ‘airtime’-based Store of Value. The competitive, legal, technical and regulatory nature of non-bank versus bank MFS models is discussed, in particular the impact of banking, payments, money laundering, telecommunications, e-commerce and consumer protection laws. Whether funding mechanisms for SVPs may amount to deposit-taking such that entities could be engaged in the ‘business of banking’ is discussed. The continued use of ‘deposit’ as the traditional trigger for the ‘business of banking’ is investigated, alongside whether transaction and paymentcentric MFS rises to the ‘business of banking.’ An extensive evaluation of ‘money’ based on the Orthodox and Claim School economic theories is undertaken in relation to SVPs used in MFS, their legal associations and import, and whether they may be deemed ‘money’ in law. Consumer protection for MFS and payments generally through current statute, contract, and payment law and common law condictiones are found to be wanting. Possible regulatory arbitrage in relation to MFS in South African law is discussed. The legal and regulatory regimes in the European Union, Kenya and the United States of America are compared with South Africa. The need for a coordinated payments-specific law that has consumer protections, enables proportional risk-based licensing of new non-bank providers of MFS, and allows for a regulator for retail payments is recommended. The use of trust companies and trust accounts is recommended for protection of user funds. \| vi / Public, Constitutional and International Law / LLD Agents Airtime transfer Airtime -based SOV Allocation of loss Allocation of risk Anti-Money Laundering (AML) Aristotle Australian school Auto-subscription Banks Banks Act Bilateral Juristic Act Bottom of Pyramid Branchless Banking BSD Business of banking Cash-In /Cash out Central Bank Claim school Competition Commission Condictiones Consumer protection Consumer Protection Act (CPA) Contract law Convergence CTF Dedicated Banks Bill Delict Regulatory philosophies Deposits Deposit-taking Directives Dodd-Frank Electronic Commerce (e-commerce) Electronic Funds Transfer (EFT) Electronic money (e-money) Electronic Money Directive (EMD) European Union (EU) FA Mann Fiat Fiat-based SOV FICA Financial inclusion Financial literacy Foley v Hill Hacking ICASA Kenya KYC Legal capacity m-Banking Means of exchange Means of payment MFS MFSP Miller v Race Minors MNO Mobile Banking (m-Banking Mobile Commerce (m-commerce) Mobile Financial Services (MFS) Mobile Financial Service Provider (MFSP) Mobile Financial Services Provide (MFSP) Mobile Network Operator (MNO) Mobile payments Mobile payments (m-Payments) Mobile purse Mobile wallet Money Money Laundering (ML) m-Payments m-pesa National Consumer Commission National Payment System National Payment System Act (NPSA) Non-Banks NPSA Orthodox school Oversight Payment instrument Payments law Pooled accounts Position paper Proportional regulation Prudential Regulation PSD PSPL PSRA Redeemable funds Regulator's dilemma Regulatory capture Remittances (RICA) (South Africa) Security SIM Card SIPS South African Reserve Bank SOV Specie Store of Value (SOV) Stored Value Account (SVA) Subscriber Supervison Systemic risk Telecommunications Transformational banking Trust accounts Unbanked Underserved Underbanked Unit of account United Dominions Trust (UDT) Unjustified enrichment USA Value Added Services (VAS) Wallet WASP WASPA Additive banking Regulatory arbitrage 346.82120680285 Banks and banking, mobile --South Africa
120	Legal and regulatory aspects of mobile financial services Perlman, Leon Joseph 11 1900 (has links) The thesis deals with the emergence of bank and non-bank entities that provide a range of unique transaction-based payment services broadly called Mobile Financial Services (MFS) to unbanked, underserved and underbanked persons via mobile phones. Models of MFS from Mobile Network Operators (MNOs), banks, combinations of MNOs and banks, and independent Mobile Financial Services Providers are covered. Provision by non-banks of ‘bank-type’ services via mobile phones has been termed ‘transformational banking’ versus the ‘additive banking’ services from banks. All involve the concept of ‘branchless banking’ whereby ‘cash-in/cash out’ services are provided through ‘agents.’ Funds for MFS payments may available through a Stored Value Product (SVP), particularly through a Stored Value Account SVP variant offered by MNOs where value is stored as a redeemable fiat- or mobile ‘airtime’-based Store of Value. The competitive, legal, technical and regulatory nature of non-bank versus bank MFS models is discussed, in particular the impact of banking, payments, money laundering, telecommunications, e-commerce and consumer protection laws. Whether funding mechanisms for SVPs may amount to deposit-taking such that entities could be engaged in the ‘business of banking’ is discussed. The continued use of ‘deposit’ as the traditional trigger for the ‘business of banking’ is investigated, alongside whether transaction and paymentcentric MFS rises to the ‘business of banking.’ An extensive evaluation of ‘money’ based on the Orthodox and Claim School economic theories is undertaken in relation to SVPs used in MFS, their legal associations and import, and whether they may be deemed ‘money’ in law. Consumer protection for MFS and payments generally through current statute, contract, and payment law and common law condictiones are found to be wanting. Possible regulatory arbitrage in relation to MFS in South African law is discussed. The legal and regulatory regimes in the European Union, Kenya and the United States of America are compared with South Africa. The need for a coordinated payments-specific law that has consumer protections, enables proportional risk-based licensing of new non-bank providers of MFS, and allows for a regulator for retail payments is recommended. The use of trust companies and trust accounts is recommended for protection of user funds. \| vi / Public, Constitutional and International Law / LL. D. Agents Airtime transfer Airtime -based SOV Allocation of loss Allocation of risk Anti-Money Laundering (AML) Aristotle Australian school Auto-subscription Banks Banks Act Bilateral Juristic Act Bottom of Pyramid Branchless Banking BSD Business of banking Cash-In /Cash out Central Bank Claim school Competition Commission Condictiones Consumer protection Consumer Protection Act (CPA) Contract law Convergence CTF Dedicated Banks Bill Delict Regulatory philosophies Deposits Deposit-taking Directives Dodd-Frank Electronic Commerce (e-commerce) Electronic Funds Transfer (EFT) Electronic money (e-money) Electronic Money Directive (EMD) European Union (EU) FA Mann Fiat Fiat-based SOV FICA Financial inclusion Financial literacy Foley v Hill Hacking ICASA Kenya KYC Legal capacity m-Banking Means of exchange Means of payment MFS MFSP Miller v Race Minors MNO Mobile Banking (m-Banking Mobile Commerce (m-commerce) Mobile Financial Services (MFS) Mobile Financial Service Provider (MFSP) Mobile Financial Services Provide (MFSP) Mobile Network Operator (MNO) Mobile payments Mobile payments (m-Payments) Mobile purse Mobile wallet Money Money Laundering (ML) m-Payments m-pesa National Consumer Commission National Payment System National Payment System Act (NPSA) Non-Banks NPSA Orthodox school Oversight Payment instrument Payments law Pooled accounts Position paper Proportional regulation Prudential Regulation PSD PSPL PSRA Redeemable funds Regulator's dilemma Regulatory capture Remittances (RICA) (South Africa) Security SIM Card SIPS South African Reserve Bank SOV Specie Store of Value (SOV) Stored Value Account (SVA) Subscriber Supervison Systemic risk Telecommunications Transformational banking Trust accounts Unbanked Underserved Underbanked Unit of account United Dominions Trust (UDT) Unjustified enrichment USA Value Added Services (VAS) Wallet WASP WASPA Additive banking Regulatory arbitrage 346.82120680285 Banks and banking, mobile --South Africa

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