Banking and Finance Law Commons^™

The World Bank, The Imf, And Human Rights, Daniel D. Bradlow

Scholarly Articles in Law Reviews & Journals

This paper explores the type of human rights obligations of the World Bank and the IMF. It argues that their human rights obligations can be divided into two sets of issues. First is operational issues, which relate to both the promotion and protection of human rights. Second is institutional issues, which deal with the internal rules and procedures of the World Bank and the IMF. The paper concludes that these organizations need to develop a coherent and explicit human rights policy.

A Test Case For The World Bank, Daniel D. Bradlow

Scholarly Articles in Law Reviews & Journals

No abstract provided.

Analysis Of The U.S. Regulations Of Derivatives: Does The Use Of Such Complicated Instruments Pose A Serious Threat To The Safety And Soundness Of The U.S. Banking System?, Erwin De Deyn

LLM Theses and Essays

In the last fifteen years, the globalization of financial markets and institutions along with innovative investment strategies have caused an irreversible revolution in the world’s financial markets. Investors and managers can now use new instruments, such as derivatives, for guarding against financial risks. Derivatives are financial instruments whose returns are derived from other assets or variables, like futures and options. The growth of derivative markets has accelerated rapidly in the last ten years, which has caused financial markets in the United States and throughout the world to be more efficient, which contributes to economic welfare. However, the dramatic growth in …

The Legal Environment Of International Finance: Thinking About Fundamentals, Merritt B. Fox

Faculty Scholarship

The huge increase in cross border capital flows over the last two decades has profoundly important implications for society in general and the law in particular. These flows give rise to a set of legal problems that are sufficiently distinct and coherent to constitute a legal field of their own. Confirming this observation is the development of a specialized legal practice whose members spend the bulk of their time working on such transactions. Nevertheless, a law school course in international finance is a rarity, even at the schools that train most of the students who ultimately join this practice.

The …

Schrodinger’S Cat, Eugenics, And The Compulsory Sterilization Of Welfare Mothers: Deconstructing An Old/New Rhetoric And Constructing The Reproductive Right To Natality For Low-Income Women Of Color, Beverly Horsburgh

Cardozo Law Review

In Part I of this Article, I briefly trace the history of racism, sexism, and class bias in western scientific thought as well as the legal consequences that ensued in this country from scientific prejudice. In Part II, I turn to eugenics in our own time and explore the sterilization abuse of poor women of color as a disguised form of eugenics. I argue that the lack of popular sympathy for the reproductive problems of these women, due to their negative dehumanizing stereotyping and the pervasive influence of sociobiology, facilitates public acceptance of harsher measures in the future. I refer, …

The Role Of Multilateral Finance And The Environment: A View From The World Bank, Andrew Steer, Jocelyn Mason

Indiana Journal of Global Legal Studies

Dr. Steer and Mr. Mason begin by noting that since fundingfor

the Rio Earth Summit agreements has not been forthcoming,

multilateralfinanciailn stitutions (MFIs) have taken responsibilityf or

advancing the environmental agenda set forth at the Summit. Dr.

Steer and Mr. Mason note that MFIs furnish three crucial functions

in implementing the global environmental agenda. First, MFIs are

able to target investments in developing countries that involve

important environmental issues. Second, MFIs are able to support

policy reforms within developing countries to ensure environmental

standards and issues are properly addressed. Finally, MFIs can

multiply a small amount offunding into a significant …

Cross-Border Lending: What's Different This Time, Lee C. Buchheit

Northwestern Journal of International Law & Business

This article is based upon the author's lecture entitled "The Next Wave of Cross-Border Lending" delivered in connection with the Meredith Lectures at McGill University in April 1994.* The subject of that lecture, and of this article, is how cross-border lending to less developed countries (LDCs) in the 1990s differs from the last major period of such lending in the late 1970s. It is surely a testament to the accelerated obsolescence of modem financial commentary that the author's April 1994 lecture - delivered in the middle of a boom in cross-border lending - has already been followed by a bust …

Preface: Latin American Debt In The 1990s: A New Scenario For Creditors And Debtors, Lee C. Buchheit, Ralph Reisner

Northwestern Journal of International Law & Business

This short preface introduces the purpose of the symposium and introduces each of the articles tat will follow.

Brief Incursion Into Bankruptcy And The Enforcement Of Creditor's Rights In Brazil, Antonio Mendes

Northwestern Journal of International Law & Business

This article is an overview of bankruptcy law and concerns in Brazil, as well as a exploration of what rights creditors have in bankruptcy.

Mexico's Banks After The December 1994 Devaluation--A Chronology Of The Government's Response, Roy A. Karaoglan, Mike Lubrano

Northwestern Journal of International Law & Business

The immediate effects of the December 1994 peso devaluation and the period of high interest rates and economic recession that followed had important repercussions for the Mexican banking and financial system. Since the onset of the crisis, the Mexican government has undertaken a number of important actions designed to assure adequate capitalization of financial institutions and continued public confidence in the banking system. The goal throughout has been to avoid a banking crisis that would exacerbate the contraction in the real economy and to set the stage for a recovery of the financial system based on sound institutions and efficient …

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

Scholarly Articles in Law Reviews & 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.

Latin American Debt Obligations In The 1990s: Risk Strategies: Remedies And Judicial Enforcement, Lee C. Buchheit, Emilio Cardenas, Antonio Mendes, Thomas Heather

Northwestern Journal of International Law & Business

This is a discussion of debt obligations in Latin America and how the symposium panelists would have advised there clients.

Restructuring Strategies For Mexican Eurobond Debt, Duncan N. Darrow, Peter V. Darrow, Douglas A. Doetsch, Miguel Jauregui-Rojas

Northwestern Journal of International Law & Business

Unless the international capital markets become widely receptive to refinancing Mexican Eurobonds, by early to mid 1996, the holders of these Eurobonds - Mexico's new "bondholder constituency" - may find themselves at the center of a restructuring process encompassing a significant portion of the $13 billion of Eurobond debt outstanding. This article discusses strategies for restructuring.

Towards A Sovereign Debt Work-Out System;, Rory Macmillan

Northwestern Journal of International Law & Business

In a future sovereign debt crisis, debt restructurings are inevitable simply because there is no alternative. Private lending becomes simply unavailable. The commercial banks were asked to lend to Mexico in early 1995 as part of the U.S. Government rescue plan, but the money never materialized.3 The banks' experience of involuntary lending during the 1980s debt crisis was so unpleasant that they are unlikely to increase exposure to a troubled debtor in a crisis today. Other sources of finance are no more likely to yield support. Mexico was unable to return to the capital markets until six months after the …

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

Faculty Scholarship

No abstract provided.

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 …

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 negotiated …

Rip To Irp - Money Laundering And Drug Trafficking Controls Score A Knockout Victory Over Bank Secrecy, Berta E. Hernández-Truyol

UF Law Faculty Publications

This Article reviews the evolution of bank secrecy laws and comments on the erosion of rights effected by the domestic and international efforts to curb drug trafficking and money laundering. Part II reviews the evolution of bank secrecy laws in the international sphere and views the origins of the individuals' right to financial privacy. Specifically, Part II focuses on the laws of Switzerland and England to show the bases and proliferation of secrecy protections. Part III provides the background of the status of financial privacy in the United States. The following two parts describe initiatives aimed at eliminating drug trafficking …

Can You Bank On It? Italy's Response To The Second Banking Directive Of The European Community, Jeffrey A. Orr

BYU Law Review

No abstract provided.

Compulsion Over Comity: The United States' Assault On Foreign Bank Secrecy, C. Todd Jones

Northwestern Journal of International Law & Business

Because of their physical proximities and tory secrecy laws, many nations have become bank secrecy havens, providing financial services and anonymity to people and business enterprises, both legitimate and illegitimate. In response, U.S. courts have systematically circumvented almost any challenge to the authority of our prosecutors and judicial procedures presented by nations that respect and uphold financial privacy. Unfortunately, efforts by other branches of the United States government to ease the friction created by the courts have proved to be only moderately effective and remain essentially unrecognized by the judiciary.

A Critical Introduction To The Conference On Human Rights, Public Finance, And The Development Process, Daniel D. Bradlow

Scholarly Articles in Law Reviews & Journals

No abstract provided.

Debt-Equity Conversions, Debt-For-Nature Swaps, And The Continuing World Debt Crisis, Daniel H. Cole

Articles by Maurer Faculty

No abstract provided.

Basle Committee International Capital Adequacy Standards: Analysis And Implications For The Banking Industry, Duncan E. Alford

Penn State International Law Review (1982 - 2011)

No abstract provided.

Bumper Cars: Themes Of Convergence In International Regulation, Michael P. Malloy

McGeorge School of Law Scholarly Articles

In this Article, Professor Malloy examines the convergence of regulatory standards among international regulators, suggesting that the dynamic of financial services regulation can best be understood as a conceptualized version of the bumper cars ride at an amusement park. While Professor Malloy suggests that a certain degree of convergence has already occurred in international regulation, thus decreasing the number of “bumps” in the ride, he also recognizes that much of this convergence remains prospective rather than actual, and currently is dominated by a pattern of regionalized regulation. Professor Malloy argues that, unless a converged pattern of regulation continues to develop, …

A Rapid Or Evolutionary Approach: The Eec's Adoption Of The Ecu As A Common Currency, Susan B. Shulman

Northwestern Journal of International Law & Business

Perhaps the EEC should move to a common currency, but there is no reason to rush towards such a dramatic change. According to optimal currency area theory, the current system of limited flexibility within the EEC is ideal. Any move to a common currency should be flexible in that it initially allows member states the ability to use national monetary policy if necessary. The British proposal allows just this kind of flexibility.

Debt, Development, And Human Rights: Lessons From South Africa, Danil D. Bradlow

Scholarly Articles in Law Reviews & Journals

This paper explores the lessons to be learned from the South African debt crisis of the mid-1980s and suggests ways in which it could have been used to promote human rights changes in apartheid South Africa.

The European Community's Second Banking Directive And U.S. Banking Regulation: Preparing For A Multilateral Agreement For The Trade Of Services, Douglas L. Hymas

BYU Law Review

No abstract provided.

Joint Ventures, Antitrust, And Transnational Cartelization, Walter Adams, James W. Brock

Northwestern Journal of International Law & Business

Joint ventures have fired corporate imaginations and captured the fancy of government officials, who perceive them as key weapons in the struggle to achieve global competitiveness. Characterizing the trend as corporate America's version of the singles bar, Business Week reports that in the current rage for "strategic alliances," scarcely a day passes without the announcement of another cooperative inter-corporate agreement. The London Economist reports that "just as the vogue for aggressive takeovers in America and Britain has come to an end, many of the world's biggest companies are scrambling to sign up joint-venture partners or to conclude an alliance with …

The Treaty With Poland Concerning Business And Economic Relations: Does It Provide More Incentive To The American Investor?, Todd Ewing

Northwestern Journal of International Law & Business

Among the reformed East European countries now embracing democratic notions, Poland has been the most aggressive in the effort to reach full-fledged democracy. These efforts are reflected by Poland's recent amendments to its foreign investment law and, most recently, the signing of a treaty with the United States in hopes of attracting American investors. This article briefly examines the role and content of this treaty in the context of the overall United States treaty program and, more importantly, determines whether the Treaty has the potential to stimulate U.S. investment above and beyond the incentives now in place under the foreign …

Direct Foreign Investment In The Caribbean: A Legal And Policy Analysis, Lewis D. Solomon, David H. Mirsky

Northwestern Journal of International Law & Business

The purpose of this Article is to delineate the central issues facing countries which seek to encourage direct foreign investment in their local economies, and to suggest which approaches to these issues appear most likely to facilitate the attraction of foreign capital, technology and expertise, while preserving local control over the potentially detrimental effects of such investment.