A tension exists in the current literature as to whether or not competition contributes to banking stability. On the one side, proponents of the so called lsquo;franchise value hypothesis' argue that banks with greater market power are able to protect their franchise value because they are not...

Preface -- Acknowledgements -- Part I: The Monetary System and the Business of Banking -- Overview of the Monetary System -- Introduction to the Business of Banking -- Introduction to the Business of Banking -- Introduction to the Business of Banking -- Part II: Asset-Liability Management --...