Current Legal Issues Affecting Central Banks, Volume V

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International Monetary Fund, May 20, 1998 - Business & Economics - 867 pages
This volume, edited by Robert C. Effros, focuses on how technology is affecting the world of banking and finance in an era of increasing globalization. The advent of electronic money, stored value cards, and internet transactions are discussed, as well as the impact of technology on cross-border banking and its implications for central banks. Other issues examined are the legal and regulatory frameworks for risk management of banks, sovereign debt, the international laws of bank secrecy, and financial services within the context of the GATT Agreement on Trade Services.

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Contents

Introduction
xi
Developments at the International Monetary Fund
1
1B On Being a Lawyer in the International Monetary Fund
14
The World Bank in the Nineties
29
Developments at the International Finance Corporation
49
Foreword to Chapters 4 and 5
58
Perspectives
107
Comment
121
Legal Framework for Dealing with Sovereign
317
Legal Remedies in the Event of a Sovereign
339
Pitfalls and Hazards
353
Afterword to Chapters 12 to 15
379
International Law of Bank Secrecy
407
Financial Services in the General Agreement on Trade
516
Appendices
523
Payments Materials
535

Afterword to Chapters 4 and 5
133
A Comparison Between
163
Afterword to Chapters 6 and 7
194
Bank Failure Case Histories
227
9B Bank Failures in Nordic Countries
233
Afterword to Chapters 8 and 9
249
Internal Controls and Risk Management for Banks
263
Sharing of Information Between Supervisory Authorities
283
Afterword to Chapters 10 and 11
303
RESOLUTION OF SOVEREIGN LIQUIDITY CRISES
309
with Respect to CrossBorder and MultiCurrency
627
Reducing Foreign Exchange Settlement Risk Excerpt
635
Basle Committee on Banking Supervisions Core
647
EC Directive on CrossBorder Credit Transfers
677
EC Directive as Regards Recognition of Contractual
688
The Right to Financial Privacy Act Excerpts
697
U S Regulations on Financial Record Keeping
709
Notes
733
Biographical Sketches
797
Copyright

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