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Full-Text Articles in Law
The Establishment Of Foreign Bank Agencies And Branches In New York, Clifford D. Harmon
The Establishment Of Foreign Bank Agencies And Branches In New York, Clifford D. Harmon
Vanderbilt Journal of Transnational Law
In recent years foreign banking associations have played an increasingly important role in the United States money market. While foreign banks have been operating in the United States since the 1870's, no substantial foreign banking existed in this country until the early 1970's. Since that time, however, there has been rapid expansion, and by 1978 there were 210 foreign bank facilities controlling $66 billion in assets in the United States. Most of this activity is confined to New York, Illinois, and California.
New York alone accounts for three quarters of all foreign bank assets in this country. Although this concentration …
Finance, Rules And The Indexation Of Brazilian Government Bonds, Mark J. Roe
Finance, Rules And The Indexation Of Brazilian Government Bonds, Mark J. Roe
Vanderbilt Journal of Transnational Law
In roughly a dozen years, Brazil has created a sophisticated multi-billion dollar system of public debt in the midst of an unpredictable inflationary financial climate. During this time the government bonds were initially all indexed against inflation; the obligations were automatically periodically adjusted in accordance with price index changes. However, as shall be seen, the indexation of the bonds was not necessarily the cause of the expansion of the market for public debt.
The legal-economic mechanism of Brazilian indexation is not widely understood in the United States. The method used to calculate the index that provides the basis for readjusting …