This volume examines issues concerning the challenges and opportunities for international banks in the rapidly changing global environment. It looks at financial markets and banking, examines the role of banks and lawyers in the global financial crisis, explores post-crisis financial regulation,...

The currency carry trade (CCT) strategy - borrowing in low-interest-rate currencies and investing in high-interest-rate currencies - has been found to generate excess returns that cannot be explained by common risk factors. We argue that companies implicitly execute carry trades, when they have...