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“Mutual Recognition” And Cross-Border Financial Services In The European Community, E. Waide Warner Oct 1992

“Mutual Recognition” And Cross-Border Financial Services In The European Community, E. Waide Warner

Law and Contemporary Problems

One of the hallmarks of the European Commission's single market program is the removal of Member State barriers to the provision of financial services throughout the EC. The goal is to make a broad spectrum of banking, securities and insurance services available for everyone. The application of the mutual recognition approach is discussed.

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The Challenges Of The New Banking Legislations, Oduyemi O. S. Sep 1992

The Challenges Of The New Banking Legislations, Oduyemi O. S.

Bullion

This paper examines Nigeria's new banking legislations. The new banking laws together with deposit insurance system, established in 1988, and the new regulations embodies in the prudential guidelines and the accounting standards for banks, both introduced in 1990, constitute and essential foundation for managing and promoting a dynamic and sound financial sector. The new regulatory environment places emphasis on the need for institutions to strengthen and build up capital, improve the quality of assets and maintain high lending and investment standards. The paper is in three parts. Part I reviews some of the major trends in the financial industry with …

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Banking Supervision And Inspection, Agene C. E. Sep 1992

Banking Supervision And Inspection, Agene C. E.

Bullion

The paper examines banking supervision and regulation. It is organized into two parts: part one, introduction, discusses the overview of banking supervision and regulation and part two looks at the internal audit function, internal control measures and procedures for internal control. The concluding part examines the opportunities of financial conglomerates created in the Nigerian scene as well as the problem of proper risk management for the supervisory authorities.

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International Monetary Law: The Next Twenty-Five Years, Richard W. Edwards, Jr. May 1992

International Monetary Law: The Next Twenty-Five Years, Richard W. Edwards, Jr.

Vanderbilt Journal of Transnational Law

In this Article, Professor Edwards considers possible developments in international monetary law over the next twenty-five years. The author begins by discussing some formative events for international monetary law throughout the last twenty-five years, and he notes that unforeseen political developments can have a dramatic effect on monetary policy, and, therefore; make predicting future policy risky. The author does suggest, however, some policy changes that respond to current issues such as the trend toward currency consolidation, the need to improve public confidence in monetary processes, the need to stabilize the currencies of the states of the former Soviet Union, and …

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Nonparametric Event Study Tests, Arnold R. Cowan Jan 1992

Nonparametric Event Study Tests, Arnold R. Cowan

Arnold R. Cowan

This paper provides the first documentation of the power and specification of the generalized sign test, which is based on the percentage of positive abnormal returns in an estimation period. In simulations using daily stock return data, the generalized sign test is well specified with both exchange listed and Nasdaq stocks. A rank test is more powerful under ideal conditions. However, the rank test is more sensitive to increases in the length of the event window, to increases in return variance and to thin trading. The generalized sign test is a viable alternative to the rank test under these conditions.

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European And Global Harmonization Of The Law Of Banking Transactions, Uwe H. Schneider Jan 1992