Banking and Finance Law Commons^™

Sustainability And Infrastructure Investment: National Development Banks In Africa, Daniel D. Bradlow, Christopher Strong Humphrey

Scholarly Articles in Law Reviews & Journals

The need for infrastructure finance in Africa is tremendous. A 2009 report by the World Bank suggests that the continent faces needs of US$93 billion per year. More recent studies, pointing to economic and population growth trends and using more sophisticated methods of assessing needs, indicate that infrastructure needs are actually much higher. Existing financing sources have not been able to keep pace.

In this context, the role of national development banks (NDBs) in the continent merits attention. As will be shown below, many African countries have NDBs, although the vast majority are quite small, with limited access to finance …

Financial Product Complexity, Moral Hazard, And The Private Law, Heather Hughes

Scholarly Articles in Law Reviews & Journals

Extensive debate surrounds the question of how regulators should respond to the externalization of risk associated with moral hazard in financial markets. The capacity of market actors to externalize risk is related to transactional complexity. Complexity, for example, augments reliance on valuation methods that can obscure risk, aggravating moral hazard. Recently, scholars and policymakers have articulated strategies for regulating transactional complexity that, this Article finds, reflect a shift from a contract law to a property law rubric for understanding financial products. This Article articulates this shift and assesses its regulatory implications. Some call for standardization of financial products. Others call …

Going Green: Legal Considerations For Marijuana Investors And Entrepreneurs, Frank Robison

American University Business Law Review

No abstract provided.

Putting The 'Financial Stability' In Financial Stability Oversight Council, Hilary Allen

Scholarly Articles in Law Reviews & Journals

For all the ink that has been spilled on the topic of financial regulation since the financial crisis of 2007-2008, there has been little examination of the competing normative goals of financial regulation. Should the financial system be treated as an end in itself such that the efficiency of that system is the primary goal? Or should financial regulation instead treat the financial system as a means to the end of broader economic growth? This Article argues for the latter approach, and stakes out the controversial normative position that financial stability, rather than efficiency, should be the paramount focus of …

Foreign Investments And The Market For Law, Susan Franck

Scholarly Articles in Law Reviews & Journals

In this Article, Professors O'Hara O'Connor and Franck adapt and extend Larry Ribstein's positive framework for analyzing the role of jurisdictional competition in the law market. Specifically, the authors provide an institutional framework focused on interest group representation that can be used to balance the tensions underlying foreign investment law, including the desire to compete to attract investments and countervailing preferences to retain domestic policy-making discretion. The framework has implications for the respective roles of BITs and investment contracts as well as the inclusion and interpretation of various foreign investment provisions.

Curbing The Exploitation Of Passive Creditors In Chapter 11 Reorganization By Leveraging The Oversight Role Of The United States Trustee, Addison Pierce

American University Business Law Review

No abstract provided.

Foreign Corrupt Practices Act Ripples, Mike Koehler

American University Business Law Review

No abstract provided.

The Icc's Exit Problem, Rebecca Hamilton

Scholarly Articles in Law Reviews & Journals

The International Criminal Court (ICC) was never meant to supplant the domestic prosecution of international crimes. And yet the Court is now entering its second decade of operations in four African nations, with no plan for exit in sight. This Article identifies the looming need for the ICC to consider when and how to exit situations in which it is currently active. In addition to the normative concern that a failure to start planning for exit undercuts the Court’s placement within a system of complementarity, the need to consider exit is also driven by a financial imperative. The Court’s caseload …

Is Financial Instability A Tax Problem With A Tax Solution?, Hilary Allen

Scholarly Articles in Law Reviews & Journals

Financial regulation and taxation are two fields of law that are notoriously complex and specialized. Given this circumstance, it is perhaps not surprising that financial regulators often pay little attention to tax, and focus instead on their own sphere of influence. Unfortunately, financial regulators ignore tax incentives at the peril of financial stability.

Let's Talk About Tax, Hilary Allen

Scholarly Articles in Law Reviews & Journals

No abstract provided.

Going Beyond The Four Corners: Reflections On Teaching Letters Of Credit As A Subset Of International Banking Law, James E. Byrne

American University Business Law Review

No abstract provided.

"Ringfencing" U.S. Bank Foreign Branch Deposits: Working Toward A Clearer Understanding Of Where Deposits Are Payable In The Midst Of Chaos, V. Gerard Comizio, Ryan Chiachiere

American University Business Law Review

No abstract provided.

Integrating Latin American Stock Markets: The Mercado Integrado Latinoamericano (Mila): Innovations And Perspectives, Dante Figueroa

American University Business Law Review

No abstract provided.

Book Review: Derivatives Traders Do What, Again?, Heather Hughes

Book Reviews

Critics of financial regulation sing a classic refrain, associated with Friedrich Hayek’s theories: Regulation cannot match the temporality of capitalism, as it is based on analysis of what has already transpired in markets that are perpetually evolving. In Collateral Knowledge, Annelise Riles disrupts the Hayekian critique of financial regulation. She presents collateral in derivatives markets as a technique and an aesthetic practice and then contends that state actors also can deploy private actors’ techniques in response to the temporal nature of markets. There is nothing inherently private about the methods of self-governance that private actors use to accommodate temporality. This …

Civil Liability Theories For Insufficient Security Authentication In Online Banking, Paul Rice

Scholarly Articles in Law Reviews & Journals

No abstract provided.

International Investments Arbitration: Winning, Losing And Why, Susan D. Franck

Contributions to Books

In late 2008, as financial markets were crashing, the Vale Columbia Center on Sustainable International Investment launched the Columbia FDI Perspectives. The first Perspective, entitled “The FDI recession has begun,” correctly forecast an FDI recession in the following year. From that first Perspective in late 2008 to the end of 2010, the series published thirty-three concise notes on topical FDI-related issues by diverse experts in the field. The purpose of these Perspectives is to inform readers about some of the important issues and trends in the contemporary debate on FDI, and to promote a wide-ranging discussion about the policy implications …

Basel's Gone Cold On Cocos, But Is This A Blessing In Disguise For Banks?, Hilary Allen

Scholarly Articles in Law Reviews & Journals

The last few months have seen a dramatic fall in the value of bank stocks both in Europe and the U.S., bringing back unpleasant memories of the depths of the financial crisis in 2008. Concerns about the sovereign debt crisis in Europe, continuing litigation relating to the American subprime mortgage crisis, and the generally poor state of the world economy have increasingly put banks under pressure. However, some commentators have pointed out the “silver lining” in all of this: the big American and European banks are better capitalized than they were during the financial crisis, and therefore are better able …

Consumer Financial Protection: It's A Smaller World After All.Pdf, Hilary Allen

Scholarly Articles in Law Reviews & Journals

Few of the reforms of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) have been as controversial as the creation of the Consumer Financial Protection Bureau. On the one hand, proponents envisioned the Bureau as “a single, highly motivated federal regulator, [that would apply] the same regulation … to all similar products, regardless of the identity of the lender.” On the other hand, critics have called the Bureau “fatally flawed” and suggested that it has the potential to “stifle innovation and leave some market participants worse off.”

Separating The Good From The Bad: Developments In Islamic Acquisition Financing , Umar F. Moghul

American University International Law Review

No abstract provided.

Reflections On The Securities Law Of Jordan , Bashar H. Malkawi, Haitham A. Haloush

American University International Law Review

No abstract provided.

Ethical Money: Financial Growth In The Muslim World , Bjorn Sorenson

American University International Law Review

No abstract provided.

The Rise Of Customary Businesses In International Financial Markets: An Introduction To Islamic Finance And The Challenges Of International Integration, Ali Adnan Ibrahim

American University International Law Review

No abstract provided.

Reflections On The Securities Law Of Jordan , Bashar H. Malkawi, Haitham A. Haloush

American University International Law Review

No abstract provided.

Separating The Good From The Bad: Developments In Islamic Acquisition Financing , Umar F. Moghul

American University International Law Review

No abstract provided.

Ethical Money: Financial Growth In The Muslim World , Bjorn Sorenson

American University International Law Review

No abstract provided.

The Rise Of Customary Businesses In International Financial Markets: An Introduction To Islamic Finance And The Challenges Of International Integration, Ali Adnan Ibrahim

American University International Law Review

No abstract provided.

Credit Default Swaps And Clearing, Nazanin Baseri

Legislation and Policy Brief

In an article from 2000, an investigative journalist from The Banker warned against the hidden dangers of credit default swaps (CDS). Although CDSs can be a useful financial instrument for the banking industry, the article warned of the anonymity of credit derivatives, lack of transparency, and the potential for disaster. In an unfortunately accurate conclusion, the journalist opined that a crisis might occur because banks may not put in place the proper risk control systems in time to avert a disaster. Fast forward eight years and the financial meltdown of 2008 developed into one of the largest economic disasters in …

Card Act's Ability To Pay Proposal Ignites Public Policy Debate, Manley Williams, Sara E. Emley

American University Law Review

No abstract provided.

Financial Reform And The Causes Of The Financial Crisis, Brooksley Born

American University Business Law Review

No abstract provided.

Of The Conditional Fee As A Response To Lawyers, Bankers And Loopholes, Claire Hill, Richard Painter

American University Business Law Review

No abstract provided.