Tower of Basel

2013-05-28 Business & Economics

Author : Adam LeBor
Release : 2013-05-28
Genre : Business & Economics
Kind : eBook
Book Rating : 558/5 ( reviews)

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Book Synopsis Tower of Basel by : Adam LeBor

Download or read book Tower of Basel written by Adam LeBor. This book was released on 2013-05-28. Available in PDF, EPUB and Kindle. Book excerpt: Tower of Basel is the first investigative history of the world's most secretive global financial institution. Based on extensive archival research in Switzerland, Britain, and the United States, and in-depth interviews with key decision-makers -- including Paul Volcker, the former chairman of the US Federal Reserve; Sir Mervyn King, governor of the Bank of England; and former senior Bank for International Settlements managers and officials -- Tower of Basel tells the inside story of the Bank for International Settlements (BIS): the central bankers' own bank. Created by the governors of the Bank of England and the Reichsbank in 1930, and protected by an international treaty, the BIS and its assets are legally beyond the reach of any government or jurisdiction. The bank is untouchable. Swiss authorities have no jurisdiction over the bank or its premises. The BIS has just 140 customers but made tax-free profits of 1.17 billion in 2011-2012. Since its creation, the bank has been at the heart of global events but has often gone unnoticed. Under Thomas McKittrick, the bank's American president from 1940-1946, the BIS was open for business throughout the Second World War. The BIS accepted looted Nazi gold, conducted foreign exchange deals for the Reichsbank, and was used by both the Allies and the Axis powers as a secret contact point to keep the channels of international finance open. After 1945 the BIS -- still behind the scenes -- for decades provided the necessary technical and administrative support for the trans-European currency project, from the first attempts to harmonize exchange rates in the late 1940s to the launch of the Euro in 2002. It now stands at the center of efforts to build a new global financial and regulatory architecture, once again proving that it has the power to shape the financial rules of our world. Yet despite its pivotal role in the financial and political history of the last century and during the economic current crisis, the BIS has remained largely unknown -- until now.

The Seven Sins of Wall Street

2014-03-11 Business & Economics

Author : Bob Ivry
Release : 2014-03-11
Genre : Business & Economics
Kind : eBook
Book Rating : 66X/5 ( reviews)

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Book Synopsis The Seven Sins of Wall Street by : Bob Ivry

Download or read book The Seven Sins of Wall Street written by Bob Ivry. This book was released on 2014-03-11. Available in PDF, EPUB and Kindle. Book excerpt: We all know that the financial crisis of 2008 came dangerously close to pushing the United States and the world into a depression rivaling that of the 1930s. But what is astonishing -- and should make us not just afraid but very afraid -- are the shenanigans of the biggest banks since the crisis. Bob Ivry passionately, eloquently, and convincingly details the operatic ineptitude of America's best-compensated executives and the ways the government kowtows to what it mistakenly imagines is their competence and success. Ivry shows that the only thing that has changed since the meltdown is how too-big-to-fail banks and their fellow travelers in Washington have nudged us ever closer to an even bigger economic calamity. Informed by deep reporting from New York, Washington, and the heartland, The Seven Sins of Wall Street, like no other book, shows how we're all affected by the financial industry's inhumanity. The transgressions of "Wall Street titans" and "masters of the universe" are paid for by real people. In fierce, plain English, Ivry indicts a financial industry that continues to work for the few at the expense of the rest of us. Problems that financiers deemed too complicated to be understood by ordinary folks are shown by Ivry to be financial legerdemain -- a smokescreen of complexity and jargon that hide the bankers' nefarious activities. The Seven Sins of Wall Street is irreverent and timely, an infuriating black comedy. The Great Depression of the 1930s moved the American political system to real reform that kept the finance industry in check. With millions so deeply affected since the crisis of 2008, you'll finish this book asking yourself how it is that so many of the nation's leading financial institutions remain such exasperating problem children.

Basel IV

2018-07-26 Business & Economics

Author : Martin Neisen
Release : 2018-07-26
Genre : Business & Economics
Kind : eBook
Book Rating : 406/5 ( reviews)

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Book Synopsis Basel IV by : Martin Neisen

Download or read book Basel IV written by Martin Neisen. This book was released on 2018-07-26. Available in PDF, EPUB and Kindle. Book excerpt: In December 2017 the Basel committee finalised its work on the reform of the Basel III framework. Together with requirements already published in 2015 and 2016, the Basel committee changes all approaches for the calculation of RWA and the corresponding Pillar III disclosure rules. This package of new standards from the Basel Committee, which is unofficially called "Basel IV", is now the most comprehensive package of modifications in the history of banking supervision. The banking industry will face major challenges in implementing these new rules. The second edition of the "Basel IV" handbook is updated with all publications up to March 2018 and also extensively enhanced with additional details, examples and case studies. The aim is to convince the reader that we are facing a new framework called "Basel IV" and not just a fine adjustment of the existing Basel III regulations. This book covers all new approaches for the calculation of RWA: - the standardised approach (CR-SA) and the IRB approach for credit risk, - the new standardised approach for counterparty credit risk (SA-CCR), - both the standardised approach and internal models approach from the "fundamental review of the trading book" (SBA and IMA) - the basic approach (BA-CVA) and standardised approach (SA-CVA) for the CVA risk, - all new approaches (SEC-IRBA, SEC-ERBA, SEC-SA, IAA) for securitisations (incl. STS), - the approaches for the calculation of RWA for equity positions in investment funds (LTA, MBA, FBA) - the new standardised approach for operational risk (SA-OpRisk) Because of the strong relation to the Pillar I requirements, the second edition covers the topics of interest rate risk in the banking book (IRRBB), large exposures and TLAC again. Additionally, the book contains a detailed description of the Pillar III disclosure requirements. With the aid of a high-profile team of experts from countries all over the globe, the complexity of the topic is reduced, and important support is offered.

Lords of Finance

2009 Business & Economics

Author : Liaquat Ahamed
Release : 2009
Genre : Business & Economics
Kind : eBook
Book Rating : 820/5 ( reviews)

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Book Synopsis Lords of Finance by : Liaquat Ahamed

Download or read book Lords of Finance written by Liaquat Ahamed. This book was released on 2009. Available in PDF, EPUB and Kindle. Book excerpt: Argues that the stock market crash of 1929 and subsequent Depression occurred as a result of poor decisions on the part of four central bankers who jointly attempted to reconstruct international finance by reinstating the gold standard.

St. Moritz Chic

2020-01-01 Travel

Author : Dora Lardelli
Release : 2020-01-01
Genre : Travel
Kind : eBook
Book Rating : 534/5 ( reviews)

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Book Synopsis St. Moritz Chic by : Dora Lardelli

Download or read book St. Moritz Chic written by Dora Lardelli. This book was released on 2020-01-01. Available in PDF, EPUB and Kindle. Book excerpt: Nestled in Switzerland’s alpine Engadin Valley, St. Moritz stands on its own amidst a sea of celebrated ski resorts in that it has long maintained an elusive allure. The winter home of personalities from Gunter Sachs and Gianni Agnelli to Sofia Loren, Elizabeth Taylor, Audrey Hepburn, John Lennon, and Claudia Schiffer, there are few places in the world that manage to unite so many of the top names in cinema, art, and fashion all in one place, year after year. Author Dora Lardelli takes the reader on a journey through Chanel and Hitchcock’s favorite haunts and the hidden parties at Badrutt’s Palace where royalty goes to play, without forgetting the natural beauty, village charm and architectural mastery that define it. St. Moritz also takes readers on a majestic tour of its special events, from Winter Olympics to the annual Snow Polo World Cup, as well as the summertime Jazz Festival and the British Classic Car Meeting. In St. Moritz creatives and royals share skiwassers slope-side on the sheepskin benches of El Paradiso, pause to sip champagne on long strolls around its frozen, crystalline lake and enjoy coffee and confections at the centuries old Hanselmann. St. Moritz has never lost its inimitable appeal, and will continue to reign as an elegant hideaway for all those who have come to call it a home away from home.

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