This paper examines the likely impact of Capital Adequacy Directive (CAD) on European Securities markets, focusing in particular on the competitive consequences for institutions engaged in the trading of equity securities.

We often assume that researchers and decision-makers are rational beings reliant on hard data to determine the best policy. But individuals are also influenced by their experiences with their physical and social environments. How they perceive and interact with their environment is also...

This paper presents a formal analysis of the effects of asset backed securisation on the capital composition of banking institutions. A model of a banking firm is presented that highlights the interrelationship between deposit insurance, capital requirements and securitisation.

This paper provides an introduction to a form of financial innovation which is the relatively recent phenomenon of asset backed securisation (ABS). An overview of the related issues and importance of this trend towards asset backed securisation in the UK by financial institutions is provided....

In this paper we develop the case for the creation of a single financial supervisory and regulatory authority for the Russian Federation. This case is based on three criteria: (a) it enables economies of scope to be exploite (b) it ensures regulatory parity (c) it satisfies prudential logic.