The UK Banking System and its Regulatory and Supervisory Framework

Carlo Gola (1984, Economics)

The UK Banking System and its Regulatory and Supervisory Framework  by Carlo GolaThe banking industry has witnessed a fundamental technological breakthrough, with the new paradigm based on the 'originate-to-distribute' model. These developments posed new challenges for both regulators and market players. Describing the evolution of the UK banking industry, including the effects of the sub-prime mortgage market crisis and the collapse of the Northern Rock, the book offers a convenient background for non-specialist readers to recent developments, such as the over-the-counter (OTC) derivative market and the credit risk transfer (CRT). It provides an introduction to a wide range of topics from a macro-prudential perspective, including the financial sustainability of the households and corporate balance sheets and the use of market-based indicators and stress testing. A basic description of the payment system and central banking liquidity facilities is also included. The second part of the book provides a comprehensive view of the UK regulatory structure, covering topics such as the declining role of self-regulation, the Financial Services and Markets Act (2000), the Combined Code of corporate governance, the Competition Act and related regulation. A rich set of notes and tables supports the book with useful definitions, references to official sources and data on the UK economy.

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