The Islamic banking has been transformed over the last three decades in a sector of significant size, although the theoretical basis for this innovative method of finance are still poorly known in most Western countries. In Europe, Great Britain has gained the more significant experience in the...

Since the beginning of the financial crisis, multinational banks have been accused of being among the major causes of the financial system’s destabilization. But the available empirical evidence on the relationship between international diversification, value creation and riskiness of...

Do rating models embody correctly the impact of macroeconomic variables on debtors’ solvency, determining a lag in downgrading? In pre-crisis periods, when interest rates increases are recorded as well as decreases in real growth rates, rating assessments fail to register risk increases in...

Otc derivatives Counterparty risk has assumed a fundamental role within the risks assumed by Sifis, Sistemically Important Financial Institutions. Different Counterparty risk management procedures have been introduced by regulatory provisions and market best practices. Moreover, the European...

The financial crisis has stopped the process of globalization, producing an opposite effect in various banking systems.The new trend is toward a reduction in cross-border activities of banks and an increased focus on domestic markets.

The establishment of the Consumer Financial Protection Bureau is part of the Us financial system reform project and has been strongly supported by the Obama administration to streamline the existing rules and to realize consumer financial education and protection after the crisis. It testifies,...

The conclusions of the Vickers Report, broadly accepted by the Uk government, put the country on the forefront of the reform movement affecting banking supervision. The traditional British light regulatory touch, this time, has given way to a decisive crackdown, mainly due to the effects of the...

The recent changes to the Italian bankruptcy law aim to promote the use of restructuring agreements in corporate crisis management, in order to facilitate business continuity. However, the new procedure presents some operational difficulties that need to be clarified by the operating practices....

The Basel deadlines concerning the second pillar and the international crisis have emphasized the problem of a reliable measure of the credit concentration risk. Nevertheless, there is not yet a best practice and several approaches have been proposed. After a survey about the framework, the...

The corporate governance of Italian listed companies showed significant changes in the last fifteen years under the impulse of self-regulation initiatives, legislative innovations and market discipline. The market pressure together with the increasing dissemination of selfregulation good...