Law Commons^™

Bank Entry During The Antebellum Period, Andrew J. Economopoulos, Heather M. O'Neill

Business and Economics Faculty Publications

A recent study by Kenneth Ng (1988) challenges the view that free banking laws lowered barriers to entry. The authors' study examines bank entry and capital formation in free and nonfree banking states during the free banking period. A competitive model is developed and used to test if barriers were lowered in free banking states. The evidence indicates that entry significantly increased after the enactment of the free banking laws and that entry policy in nonfree banking states appeared to have been 'liberalized' when the free banking laws were enacted in other states.

Betting The Bank: How Derivatives Trading Under Conditions Of Uncertainty Can Increase Risks And Erode Returns In Financial Markets, Lynn A. Stout

Cornell Law Faculty Publications

On April 12, 1994, Procter & Gamble Co. announced that it had incurred pre-tax losses of $157 million from trading in leveraged interest rate swaps, a form of financial derivative. At the time that figure seemed enormous. Yet within a year, Procter & Gamble's misfortune had been overshadowed by that of Orange County, a wealthy California enclave that lost an estimated $2.5 billion of its investment fund as a result of dealings in reverse-repurchase agreements, inverse floaters, and other arcane instruments. Recent months have seen further losses by investment funds, government entities, and even colleges and Native American tribes. Perhaps …

Back To The Parent: Holding Company Liability For Subsidiary Banks — A Discussion Of The Net Worth Maintenance Agreement, The Source Of Strength Doctrine, And The Prompt Corrective Action Provision, Cassandra Jones Havard

All Faculty Scholarship

Given the statutory goal of parental accountability, this Article focuses on a narrow issue: Whether parental guarantees are the most effective regulatory tool for shielding the federal deposit insurance fund from losses when insured banking subsidiaries that are members of a multibank holding company system are insolvent. This Article posits that a needed complement to parental guarantees is temporary substantive consolidation of a holding company's affiliated banks. This would require the parent company to combine the assets of its banking siblings to facilitate the reorganization of a financially troubled subsidiary. Temporary enterprise consolidation is a necessary regulatory tool because it …

15th Annual Legal Issues For Financial Institutions Conference, Office Of Continuing Legal Education At The University Of Kentucky College Of Law, Walter R. Byrne Jr, Mark F. Sommer, Lisa Koch Bryant, Leonard A. Watkins, Thomas W. Grundy, Joann B. Heppermann, James C. Seiffert, William H. Haden Jr., T. Richard Riney, Marcus P. Mcgraw, W. Bradford Boone, John T. Mcgarvey, James F. Rose, J. Rick Jones, M. Thurman Senn, M. Brooks Senn

Continuing Legal Education Materials

Program and materials from the 15th Annual Legal Issues for Financial Institutions Conference held by UK/CLE on March 10-11, 1995.

The Transformation Of French Corporate Governance And United States Institutional Investors, James A. Fanto

Faculty Scholarship

No abstract provided.

The Transformation Of French Corporate Governance And United States Institutional Investors, James Fanto

Faculty Scholarship

No abstract provided.

Power Without Responsibility Or Responsibility Without Power? Recent Developments In The Jurisdiction Of The Ontario Securities Commission, Mary Condon

Articles & Book Chapters

In its present legislative form and in its administration, the Ontario Securities Act has taken onto itself powers which this Commission believes were never intended...To correct this it believes that legislation should be enacted which will clearly define and limit the powers of the administrative authority to requirements under such legislation, and that these should not be deviated from for any reason of policy or otherwise.

The Discipline Of Institutions And The Disciplining Of Banks, Manuel A. Utset

Scholarly Publications

No abstract provided.

Arbitration Of Disputes Between Consumers And Financial Institutions: A Serious Threat To Consumer Protection, Mark E. Budnitz

Faculty Publications By Year

No abstract provided.

The Value Of Public-Notice Filing Under Uniform Commercial Code Article 9: A Comparison With The German Legal System Of Securities In Personal Property, Jens Hausmann

LLM Theses and Essays

In contrast to the public-notice filing system under U.C.C. Article 9, the modern German law of securities in personal property lacks publicity of security interests. The German courts have developed a mesh of priority rules exhaustively described in this analysis. Despite the costs and risks arising under the formal filing system, the U.C.C. accomplishes a preferable balance of interests involved in secured transactions. It assures certainty to creditors about the priority of security interests in particular assets, whereas the German law comprehensively recognizes the debtor’s interest in the secrecy of the transaction and the need for external capital. Regarding the …

Notification Of Documentary Discrepancies In Letter Of Credit Transactions, Hong Liu

LLM Theses and Essays

The objective of the thesis is to examine only one aspect of the legal relationship between an issuer and a beneficiary, i.e., an issuer’s duties regarding notifying a beneficiary of documentary discrepancies in the letter of credit transactions. To lay down a theoretical foundation, the basic principle of the letter of credit law and policy considerations for this legal obligation will be explored in the thesis. In Chapter II, the relevant provisions of the U.C.C and U.C.P. will be examined and compared. Chapter III will focus on how the courts interpret and apply the U.C.C and U.C.P. in the cases …

Fiduciary Duties’ Demanding Cousin: Bank Director Liability For Unsafe Or Unsound Banking Practices, Heidi Mandanis Schooner

Scholarly Articles

The term "unsafe or unsound banking practices" serves as a statutory trigger for virtually every key administrative sanction available against bank directors. Congress has not defined either the term "unsafe or unsound banking practices" or its counterpart "safety and soundness," leaving the federal banking agencies considerable discretion in the interpretation and application of the term. Given the potential breadth of the term, the banking agencies have the ability to seek administrative remedies in cases covering a broad range of director conducL Thus, "unsafe or unsound banking practices" is a potent source of director liability.

Professor Schooner argues that "unsafe or …

Self-Regulation In Global Electronic Markets Through Reinvigorated Trade Usages, Raj Bhala

Faculty Publications

In a global electronic market the role of trade usages must be reinvigorated to better suit the needs of market participants. Contrary to the approach to trade usages often adopted by courts and scholars, usages should not be seen as merely a device to interpret disputed terms in a contract. Rather, they should be viewed as a legal foundation for existing and new trade practices and, therefore, as a source of authority for and legal obligation arising from such practices. In sum, they should be regarded as a means by which participants in global eiectronic markets can engage in self-regulation. …

External And Internal Crossroads For Banking Supervision In Southern Africa, Joseph J. Norton

Faculty Journal Articles and Book Chapters

No abstract provided.

The Global Alchemy Of Asset Securitization, Steven L. Schwarcz

Faculty Scholarship

No abstract provided.

Working For Social Change And Preserving Client Autonomy: Is There A Role For ‘Facilitative’ Lawyering?, Richard D. Marsico

Articles & Chapters

No abstract provided.

Fighting Poverty Through Community Empowerment And Economic Development: The Role Of The Community Reinvestment And Home Mortgage Disclosure Acts, Richard D. Marsico

Articles & Chapters

No abstract provided.

Foxes And Hen Houses?: Personal Trading By Mutual Fund Managers, Edward B. Rock

All Faculty Scholarship

No abstract provided.

Limited Mandates And Intertwined Problems: A New Challenge For The World Bank And The Imf, Daniel D. Bradlow, Claudio Grossman

Articles in Law Reviews & Other Academic Journals

The sovereign states that participated in the establishment of the post-Second World War international order had a specific vision of how international organizations should function. This view was based on two premises. The first premise was that the sovereign state was the most significant actor in the international order. Consequently, only states could join and participate in the affairs of the new international organizations. Furthermore, international organizations were limited in their ability to interfere in the internal affairs of their member states.

The Mythology Of Article 9, Robert E. Scott

Faculty Scholarship

Debt Collection as Rent Seeking marks an important moment in contemporary jurisprudence: the transformation of David Carlson from trenchant, fire-in-the-belly, no-holds-barred critic to abstract-modeling, implausible-assuming, game-theorizing, law and economics maven. On that basis alone, it is a great read.

Parents As Fiduciaries, Elizabeth S. Scott, Robert E. Scott

Faculty Scholarship

Traditionally, the law has deferred to the rights of biological parents in regulating the parent-child relationship. More recently, as the emphasis of legal regulation has shifted to protecting children's interests, critics have targeted the traditional focus on parents' rights as impeding the goal of promoting children's welfare. Some contemporary scholars argue instead for a "child-centered perspective," in contrast to the current regime under which biological parents continue to have important legal interests in their relationship with their children. The underlying assumption of this claim is that the rights of parents and the interests of children often are conflicting, and that …