Central bank lender of last resort (LOLR) regimes are the last line of defence before governments are forced to resort to taxpayer-funded bailouts of the financial system. Yet despite this important role, along with a rich theoretical literature examining the function and design of LOLR regimes,...

The article analyses recent tendencies in the monetary system with an emphasis on events taking place in the Gulf Cooperation Council (GCC) member states. The importance of these countries goes far beyond oil deliveries as their surpluses stemming from oil export have become a key pillar in...

erw. und aktual. Aufl... Eine von einem Fachjournalisten kenntnisreich verfasste Geschichte der Währungspolitik, die im 2. Teil tieferen Einblick gibt in die zukünftige Entwicklung von Dollar, Euro, Yuan und Gold. Rezension (ekz): Währungspolitik ist ein schwierig zu vermittelndes Thema....

(1) The fifth edition of the present study contains a further update in full of the institutional and regulatory framework governing the Single Resolution Mechanism (SRM) and the Single Resolution Fund (SRF). Its structure has also been revised, since the Sections of previous editions have been...

This article focuses on the operation of supervisory colleges after implementation of the first pillar of the European Union's Banking Union -- the Single Supervisory Mechanism. The article concludes that the operation of supervisory colleges for cross-border banks, particularly those that...

Europe remains a tempting destination for East Asian SWFs. Almost a third of their investments have been committed to EU countries. Nearly all of the assets have been invested by Chinese and Singaporean funds. The investment policy of East Asian SWFs has significantly evolved over the past few...

Since 2010 approximately 40 developing countries and transitional economies imposed interest rate caps. This article analyses the impact of these interest rate caps on microfinance institutions. Introducing the taxonomy of soft, mezzo and hard interest rate caps we take a stance against hard...

In this paper, I consider the case of supervisory cooperation among bank regulators where voluntary cooperation (soft law) over a period of 50 years has become hard law (regulations and directives) within the European Union. Driven by major international bank failures or financial crises,...