With the introduction of Basel II in 2004, “market discipline” became one of the Basel Committee's three pillars of prudential regulation. Although many academic papers have sought to test for the presence of effective market discipline in banking, few have dealt fully with the question....

This book isa collection of research papers that contribute to the understanding of ongoing developments in financial institutions and markets both in the United States and globally, including an in-depth look at topics such as universal access, cost recovery, and payment services; the...