Purpose – The purpose of this paper is to demonstrate how Japanese bank “performance” has improved markedly since fiscal 2003 but to caution against over-optimism. Design/methodology/approach – The methodological approach adopted involves using aggregate balance sheet data dating from...

Purpose – The purpose of the paper is to explain how UK bank failure resolution policy has evolved since the nationalisation of Northern Rock in February 2008 in the light of the fallout from the sub-prime crisis and the subsequent credit crunch. Design/methodology/approach – The evolution...

Purpose – On 14 September 2007, after failing to find a “White Knight” to take over its business, Northern Rock bank turned to the Bank of England (the Bank) for a liquidity lifeline. This was duly provided but failed to quell the financial panic, which manifested itself in the first...

This paper is published in two parts. The first, which is published here, starts by considering the background to UK banking supervision and examining the effectiveness of the Bank of England and BCCI's auditors in the supervision of BCCI. The author then assesses the suitability of the Banking...

This is the second of a two‐part paper, the first part of which was published in The International Journal of Regulatory Law & Practice Volume 1 Number 2, pp. 170–184. This part considers some of the multinational initiatives that have been undertaken for the supervision of international...

In June 1994, and despite serions misgivings front the finance industry and investors alike, the Personal Investment Authority (PIA) was ‘recognised’ as the new retail self‐regulatory organisation (SRO)for the investment business industry in the UK. This paper traces the background to this...

During 1993 Member States of the European Union formally adopted two Directives—the Investment Services Directive and the Capital Adequacy Directive—concerned with the operation of investment business. This paper outlines the provisions contained in these Directives, which have to be...

On 26th February, 1995 much of the UK merchant banking group Barings was placed in administration following a failed attempt by the Bank of England to find a buyer in the wake of massive losses incurred on unauthorised trades. The group, however, was subsequently bought by the Dutch financial...

Given the current malaise in the Japanese banking sector and the failure of Japanese authorities to take speedy and appropriate action to address the situation, investors' confidence in Japanese financial institutions is at a very low ebb. Under pressure from both home and overseas, however, a...

Late in 2001, the Financial Services Authority (FSA) introduced a new set of arrangements for deposit protection in the UK. While the changes involve a welcome improvement on previous arrangements, much more could be done to enhance their overall cost‐effectiveness. This paper explains the...