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Series

1994

Banking and Finance Law

Institution
Keyword
Publication

Articles 1 - 20 of 20

Full-Text Articles in Law

Anti-Money Laundering Regulations: A Burden On Financial Institutions, Duncan E. Alford Jul 1994

Anti-Money Laundering Regulations: A Burden On Financial Institutions, Duncan E. Alford

Faculty Publications

No abstract provided.


Aiding The Transformation Of Economies: Is The Fund's Conditionality Appropriate To The Task?, Cynthia C. Lichtenstein May 1994

Aiding The Transformation Of Economies: Is The Fund's Conditionality Appropriate To The Task?, Cynthia C. Lichtenstein

Boston College Law School Faculty Papers

No abstract provided.


14th Annual Conference On Legal Issues For Financial Institutions, Office Of Continuing Legal Education At The University Of Kentucky College Of Law, M. Brooks Senn, M. Thurman Senn, Stephen M. Cross, James A. Huguenard, Walter R. Byrne, J. Rick Jones, William G. Porter Ii, Anthony J. O'Malley, Willam M. Lear, Robert M. Watt Iii, Herbert Miller, John T. Mcgarvey, Gwendolyn M. Young Mar 1994

14th Annual Conference On Legal Issues For Financial Institutions, Office Of Continuing Legal Education At The University Of Kentucky College Of Law, M. Brooks Senn, M. Thurman Senn, Stephen M. Cross, James A. Huguenard, Walter R. Byrne, J. Rick Jones, William G. Porter Ii, Anthony J. O'Malley, Willam M. Lear, Robert M. Watt Iii, Herbert Miller, John T. Mcgarvey, Gwendolyn M. Young

Continuing Legal Education Materials

Materials from the 14th Annual Conference on Legal Issues For Financial Institutions held by UK/CLE in March 1994.


An Economic Analysis Of The Potential For Coercion In Consent Solicitations For Bonds, Royce De R. Barondes Jan 1994

An Economic Analysis Of The Potential For Coercion In Consent Solicitations For Bonds, Royce De R. Barondes

Faculty Publications

This Article examines why issuers frequently cannot present bondholders with an offer that draws on collective action problems to force the acceptance of the offer by the bondholders. The analysis is restricted to publicly offered bonds. For a number of reasons, privately placed debt presents fewer opportunities for coercion. A prior business relationship among various purchasers, which facilitates cooperation, may be more likely with respect to privately placed debt. Privately placed debt often has more significant protection for the bondholders than public debt with the same level of seniority


The Bespeaks Caution Doctrine: Revisiting The Application Of Federal Securities Law To Opinions And Estimates, Royce De R. Barondes Jan 1994

The Bespeaks Caution Doctrine: Revisiting The Application Of Federal Securities Law To Opinions And Estimates, Royce De R. Barondes

Faculty Publications

Disclosure of estimates and opinions, which are often referred to as ‘soft information,‘ has presented a number of difficult issues to courts, the Securities and Exchange Commission (SEC) and companies issuing offering materials or required to file periodic reports with the SEC. Although this type of information often consists of projections, historical financial statements also include this type of information to varying degrees. For example, a bank's statement of financial position requires specification of loan loss reserves and is therefore dependent on an assessment of future events (the timing and extent of repayment). Similarly, determination of the timing of ...


Tragedy, Irony, And Protectionism After Bcci: A Three-Act Play Starring Maharajah Bank, Raj Bhala Jan 1994

Tragedy, Irony, And Protectionism After Bcci: A Three-Act Play Starring Maharajah Bank, Raj Bhala

Faculty Publications

Post-BCCI legal developments regarding the regulation of foreign banks raise serious concerns of protectionism. The Foreign Bank Supervision Enhancement Act of 1991 and revisions to Federal Reserve Regulation K impose significant new legal burdens on foreign banks seeking to establish a physical presence in the U.S. The new legal regime reflects a tragic sacrifice of the principle of free trade in banking services in order to placate a fear of "bad" foreign banks. Ironically, the sacrifice of this principle by Congress and the Federal Reserve is incongruous with efforts of the United States Trade Representative (USTR). The USTR has ...


Legal Foundations And Institutional Framework Of The Monetary Union In Europe And In The United States, Johan Van Den Cruijce Jan 1994

Legal Foundations And Institutional Framework Of The Monetary Union In Europe And In The United States, Johan Van Den Cruijce

LLM Theses and Essays

An economic and monetary union (EMU) is an area where there is complete freedom of movement of persons, goods, services, and capital. The financial markets in an EMU are completely integrated while the national currencies are conventional and have fixed exchange rates. Ultimately the national currencies may be replaced by a common currency and there will be one monetary policy. The EMU is considered to be the highest form of economic integration. This paper examines two examples of a monetary union; the first part focuses on the blueprint for a European monetary union as laid out in the Treaty on ...


Paying For The Deal: An Analysis Of Analysis Of Wire Transfer Law And International Financial Market Interest Groups, Raj Bhala Jan 1994

Paying For The Deal: An Analysis Of Analysis Of Wire Transfer Law And International Financial Market Interest Groups, Raj Bhala

Faculty Publications

No abstract provided.


Article 5: Highlights Of The Proposed Revision, James J. White Jan 1994

Article 5: Highlights Of The Proposed Revision, James J. White

Other Publications

I. The Current Status of Article 5: Drafting, Approval and Promulgation--The Most Significant Changes or Clarifications -- II. The Most Contentious Issues in the Revision of Article 5 -- III. More Subtle Questions About Revised Article 5


Confederate Bonds, General Custer, And The Regulation Of Derivative Financial Instuments, Jerry W. Markham Jan 1994

Confederate Bonds, General Custer, And The Regulation Of Derivative Financial Instuments, Jerry W. Markham

Faculty Publications

The phenomenal growth of derivative financial instruments has sparked a near revolution in finance. These instruments take many forms and come in literally hundreds of varieties. Some, such as commodity futures and options, are heavily regulated when they are traded on organized exchanges. Other derivatives, particularly those traded over-the-counter, are subject to little regulation. Included on the list of unregulated derivatives are swap transactions. The swaps market alone is equal in size to the regulated markets with which it competes. The lack of regulation over such a large financial market and the losses suffered by some large firms in recent ...


The Inverted Pyramid Of Wire Transfer Law, Raj Bhala Jan 1994

The Inverted Pyramid Of Wire Transfer Law, Raj Bhala

Faculty Publications

No abstract provided.


Rate Regulation At The Crossroads Of Usury And Unconscionability: The Case For Regulating Abusive Commercial And Consumer Interest Rates Under The Unconscionability Standard, Steven W. Bender Jan 1994

Rate Regulation At The Crossroads Of Usury And Unconscionability: The Case For Regulating Abusive Commercial And Consumer Interest Rates Under The Unconscionability Standard, Steven W. Bender

Faculty Scholarship

This article builds on the argument that the usury solution is flawed and urges a compromise between usury and market control that employs the variable fairness standard of unconscionability to police unfair interest pricing. The article examines American and comparative usury and unconscionability regulation to develop appropriate guidelines for unconscionability's new duty. It then proposes a model statute articulating the unconscionability standard for consumer loans. Finally, the article advocates employing usury controls under a limited regime of "spot treatment," rather than blanket control, for persisting pockets of lender abuse the unconscionability standard may fail to deter.


Controlling The Dark Side Of Relational Investing, Edward B. Rock Jan 1994

Controlling The Dark Side Of Relational Investing, Edward B. Rock

Faculty Scholarship at Penn Law

No abstract provided.


Check Fraud Litigation In Connecticut After The 1990 Revisions To The U.C.C., Timothy Fisher Jan 1994

Check Fraud Litigation In Connecticut After The 1990 Revisions To The U.C.C., Timothy Fisher

Faculty Articles and Papers

No abstract provided.


The Politics Of Article 9, Robert E. Scott Jan 1994

The Politics Of Article 9, Robert E. Scott

Faculty Scholarship

In the ongoing debate concerning the efficiency and social value of Article 9 of the Uniform Commercial Code, two points are beyond dispute. First, asset-based financing has undergone an enormous transformation since the enactment of Article 9. The most vivid illustration of this is the dramatic increase in the number and size of firms that rely on secured credit as their principal means of financing both ongoing operations and growth opportunities. Previously, with a few exceptions (such as factoring and trust receipts), secured financing principally had served second-class markets as the "poor man's" means of obtaining credit. Now, it ...


Truth In Savings And The Failure Of Legislative Methodology, Eric J. Gouvin Jan 1994

Truth In Savings And The Failure Of Legislative Methodology, Eric J. Gouvin

Faculty Scholarship

The federal Truth in Savings Act (Truth in Savings) provides one example of failed legislative problem solving. On its face, Truth in Savings is a congressional attempt to solve constituents' problems. The statute, however, appears unlikely to resolve the issues presented to Congress and may even create new and unintended problems that will make matters worse. Truth in Savings, like many other legislative efforts, fails adequately to address constituents' problems because the methodology employed by legislative drafters suffers from a fundamental flaw - it has no built-in mechanism to define rigorously the problem being addressed. Without first identifying the problem, legislation ...


A Contractual Approach To Data Privacy, Stephanos Bibas Jan 1994

A Contractual Approach To Data Privacy, Stephanos Bibas

Faculty Scholarship at Penn Law

No abstract provided.


Administrative And Judicial Review Of Prompt Corrective Action Decisions By The Federal Banking Regulators, Lawrence G. Baxter Jan 1994

Administrative And Judicial Review Of Prompt Corrective Action Decisions By The Federal Banking Regulators, Lawrence G. Baxter

Faculty Scholarship

No abstract provided.


Hail Britannia?: Institutional Investor Behavior Under Limited Regulation, John C. Coffee Jr., Bernard S. Black Jan 1994

Hail Britannia?: Institutional Investor Behavior Under Limited Regulation, John C. Coffee Jr., Bernard S. Black

Faculty Scholarship

We explore the role that legal restrictions and path dependence play in determining a country's corporate governance and finance through a case study of institutional investors in the United Kingdom. The U.K. has the same array of institutional investors as the U.S., much looser regulation of these investors, and a strong securities market (much like the U.S.). On the whole, British institutional investors are moderately more active than their U.S. counterparts. They intervene in companies to change management a few times per year. But they are still often passive, absent a crisis, and often prefer ...


Exporting Bank Credit Card Rates And Charges, Ralph J. Rohner Jan 1994

Exporting Bank Credit Card Rates And Charges, Ralph J. Rohner

Scholarly Articles and Other Contributions

Banks enjoy virtually unlimited authority to export interest rates, late fees, and over-limit charges across state lines. Open issues include the exportability of other fees, the viability of consumer common law claims such as unconscionability, and the effect of home-state choice-of-law.