The move from the originate-to-hold to originate-to-distribute model of lending profoundly transformed the functioning of credit markets and weakened the natural asset transformation function performed by financial intermediaries for centuries. This shift also compromised the role of banks in...

Maturity transformation coupled with open foreign exchange positions expose financial intermediaries to unexpected changes in interest and exchange rates. This paper proposes to measure the degree of banks exposure to market risks by taking the variance of the total differential of the bank...

In introducing Islamic banking in Malaysia, the basic strategy was to replicate the products/ services offered by conventional banks. The successful implementation of such a strategy has meant that Malaysia today has a truly dual banking system. Islamic banks in Malaysia not only have product...

Discussions of health care reforms are always tightly connected with the question of ensuring equity in financing health care. This paper analyses the German health care reform 2007 and its effect on the equity of health care financing. To do this Rawls’ and Nozick’s perceptions of justice...

The activity of the financial auditors is regulated by International Standards of Revision for financial situations and information, through which the fundamental procedures and principles for this kind of missions are established. CIEL Audit and Revision application has been conceived as a...

This paper is aimed at examining the theoretical determinants and empirical evidence on the use of derivatives in Latin America for risk management. The contingent claims, the development of their market, and their use, is undoubtedly one of the most powerful financial innovations available to...