From Gold Coins to Cryptocurrencies: A History of Money In 10 Minutes

ITNOW ◽  
2021 ◽  
Vol 63 (3) ◽  
pp. 6-7
Author(s):  
Keyword(s):  
Central Bank ◽  
Financial Services ◽  
History Of ◽  
Gold Coins ◽  
Specialist Group

Abstract The BCS Financial Services Specialist Group compresses over 2,000 years of history and explains how we moved from using gold coins to being on the brink of governments issuing their own central bank digital currencies.

Arah Kebijakan Pengawasan terhadap Perbankan Syariah dalam Sistem Perbankan Nasional di Indonesia

2020 ◽  
Vol 3 (1) ◽  
pp. 41-52
Author(s):  
Andrew Shandy Utama
Keyword(s):  
Central Bank ◽  
Financial Services ◽  
Banking System ◽  
Islamic Banking ◽  
Legal Research ◽  
Islamic Bank ◽  
Independent Direction ◽  
National Banking System

This research aims to explain the direction of policy regarding supervision of Islamic banking in the banking system in Indonesia. The method used in this research is normative legal research using the statutory approach. The results of this research explain that the policy regarding supervision of Islamic banking in the national banking system in Indonesia is headed toward an independent direction. In Law Number 7 of 1992 and Law Number 10 of 1998, it is stated that supervision of Islamic banking is done by Bank Indonesia as the central bank. Based on Law Number 21 of 2008, supervision of Islamic banking is strengthened by not only being supervised by Bank Indonesia, but also by the National Sharia Council of the Majelis Ulama Indonesia by placing Sharia Supervisory Councils in each Islamic bank. After the ratification of Law Number 21 of 2011, supervision of Islamic banking moved from Bank Indonesia to an independent institution called the Financial Services Authority.

The Position Of The Bank Indonesia As The Lender Of Last Resort After The Enactment Of Law No. 9 Of 2016 On Prevention And Mitigation Of Financial System Crisis

2017 ◽  
Vol 5 (4) ◽  
pp. 08-11
Author(s):  
Theresia Anita Christiani
Keyword(s):  
Data Analysis ◽  
Central Bank ◽  
Financial Services ◽  
Qualitative Data ◽  
Secondary Data ◽  
Jel Classification ◽  
Lender Of Last Resort ◽  
Short Term ◽  
Paper Review

Objective - This paper explores the role of the Indonesian Central Bank as the Lender of the Last Resort. Methodology/Technique - This research uses normative juridical research and secondary data. Findings - The results indicate that the Bank of Indonesian, in coordination with the Financial Services Authority, still has the authority to grant short-term loans for banks with liquidity issues. Nevertheless, the Bank of Indonesia does not have authority to provide emergency finance facilities where the funding is granted at the government's expense. Novelty - This paper uses normative juridical research and qualitative data analysis. Type of Paper - Review. Keywords: Authority, Bank, Crises, Position, Prevention, Indonesia. JEL Classification: K10, K20.

Twin Peaks Regulation After the Global Financial Crisis: A Reform Model for China?

2017 ◽  
Vol 8 (3) ◽  
Author(s):  
Miao Han
Keyword(s):  
Financial Crisis ◽  
Central Bank ◽  
Financial Services ◽  
Banking Sector ◽  
Global Financial Crisis ◽  
Relevant Literature ◽  
Twin Peaks ◽  
The Global Financial Crisis ◽  
Peak Model ◽  
Twin Peak

AbstractThe global financial crisis (GFC) has been defined as the worst financial crisis after the Great Depression of the 1930s. Reforms underway, as well as debates in discussion, revolve around both regulatory philosophy and approaches towards better supervisory outcomes. One of the most radical institutional reforms took place in the United Kingdom (UK), where the Twin-Peak model replaced the previous fully integrated regulator – the Financial Services Authority (FSA) under the Financial Services Act 2012. This paper argues that China should also introduce twin peaks regulation, but it is rather based on the resources of risk in its financial sector than the direct GFC challenge. In theory, the core arguments focus on the structure of agencies responsible for prudential regulation and the role played by the central bank as well. The Twin-Peak model has been further examined in terms of regulatory objectives and instruments. By method, this paper is a country-specific comparative study; Australia, the Netherlands and the UK are selected to represent different Twin-Peak models. This paper contributes to the relevant literature in two main aspects. First, it has displayed the principal pattern of the Twin-Peak model after detailing the case studies, including the relationship involving in two regulators, central bank and finance minister in particular. Based on this, second, it becomes possible to design a very specific model to reform China’s current sector-based financial monitoring regime. As far as the author knows, until end-2015, this is the first paper which has proposed such a particular model to China. It is argued that the appropriate institutional structure of market regulation should fit well in with a country’s financial market. Accordingly, the Twin-Peak model will be able to balance the regulatory tasks for the over-concentrated risk in China’s large banking sector but the underdeveloped securities market. Even though, regulatory independence will continue to be challenged.

scholarly journals Journal of the History of Economic Thought Preprints - Limits to Arbitrage and Interest Rates: A Debate Between Keynes, Hawtrey and Hicks

2018 ◽  
Author(s):  
Lucy BRILLANT
Keyword(s):  
Business Cycle ◽  
Central Bank ◽  
Interest Rates ◽  
Economic Thought ◽  
History Of Economic Thought ◽  
Short Term ◽  
Limits To Arbitrage ◽  
History Of ◽  
The Business Cycle

This paper deals with a debate between Hawtrey, Hicks and Keynes concerning the capacity of the central bank to influence the short-term and the long-term rates of interest. Both Hawtrey and Keynes considered the central bank’s ability to influence short-term rates of interest. However, they do not put the same emphasis on the study of the long-term rates of interest. According to Keynes, long-term rates are influenced by future expected short-term rates (1930, 1936), whereas for Hawtrey (1932, 1937, 1938), long-term rates are more dependent on the business cycle. Short-term rates do not have much effect on long-term rates according to Hawtrey. In 1939, Hicks enters the controversy, giving credit to both Hawtrey’s and Keynes’s theories, and also introducing limits to the operations of arbitrage. He thus presented a nuanced view.

scholarly journals Cloud Computing Strategy and Impact in Banking/Financial Services

2021 ◽  
Author(s):  
Prudhvi Parne
Keyword(s):  
Cloud Computing ◽  
Financial Services ◽  
New Technologies ◽  
Credit Unions ◽  
History Of Computing ◽  
Cloud Technology ◽  
The Past ◽  
Business Agility ◽  
History Of ◽  
Trustworthy Service

With recent advances in technology, internet has drastically changed the computing world from the concept of parallel computing to distributed computing to grid computing and now to cloud computing. The evolution of cloud computing over the past few years is potentially one of the major advances in the history of computing. Unfortunately, many banks are still hesitant to adopt cloud technology. New technologies such as cloud and AI will have the biggest impacts on the banking industry. For banks and credit unions wanting to achieve greater business agility, cloud technology enables organizations to respond instantly to changing market conditions, leveraging data and applied analytics to achieve customer experience and operational productivity benefits. As a result, cloud computing comes in to provide a solution to such challenges making banking a reliable and trustworthy service. This paper aims at cloud computing strategy, impact in banking and financial institutions and discusses the significant reliance of cloud computing.

The Birth of the Business Roundtable

2013 ◽  
Author(s):  
Benjamin C. Waterhouse
Keyword(s):  
Financial Services ◽  
Chief Executive Officers ◽  
Chief Executive ◽  
The United States ◽  
Business Leaders ◽  
Business Lobbying ◽  
History Of ◽  
Business Roundtable ◽  
Dramatic Shift ◽  
Executive Officers

This chapter demonstrates how the Business Roundtable—a consortium of chief executive officers from approximately one hundred and fifty of America's largest publicly and privately held corporations—holds a unique place in the history of business lobbying. It emerged in direct response to business's crisis of confidence and quickly became a powerful symbol of business leaders' desire to shape politics as well as an expression of their collective power. The first decade of the Roundtable's activism coincided with the dramatic shift of production away from the United States, the permanent decline of both productivity growth and unionization, and the supplanting of manufacturing by financial services as the nation's most important industry. The specific policy threats that drove the leaders of American big business to create the Business Roundtable reflected these shifting dynamics.

ATMs

Paid ◽  
2017 ◽  
Author(s):  
Bernardo Bátiz-Lazo
Keyword(s):  
Financial Services ◽  
Retail Banking ◽  
Automated Teller Machine ◽  
The Future ◽  
History Of ◽  
Important Site

This chapter investigates the history of the ubiquitous yet banal Automated Teller Machine, or ATM. There is no single inventor of the ATM. Rather, it emerged through innovation around the globe and across the industry. In order to build a successful ATM system, engineers and bankers had to overcome challenges that ranged from security and authorization to weather-proofing electronics. This chapter surveys some of those developments. Increasingly, ATMs are being designed to offer a variety of services beyond dispensing cash. In the future, the ATM may prove to an important site of automated retail banking and consumer financial services.

Individual accountability in Irish credit institutions—Lessons to be learned from the United Kingdom’s Senior Managers’ Regime

2018 ◽  
Vol 47 (1) ◽  
pp. 35-52
Author(s):  
Blanaid Clarke
Keyword(s):  
Central Bank ◽  
Financial Services ◽  
Financial Institution ◽  
Banking Crisis ◽  
Public Concern ◽  
Senior Managers ◽  
Banking Reform ◽  
Intensive Supervision ◽  
Administrative Sanctions ◽  
Individual Accountability

This article examines the Senior Managers' Regime (SMR), the duty of responsibility and the offence relating to a decision causing a financial institution to fail introduced by the Financial Services (Banking Reform) Act 2013 to give legislative effect to the recommendations of the Parliamentary Commission on Banking Standards. The Commission had examined impediments to accountability in the wake of the LIBOR scandal. The article explores the value of introducing similar requirements and regulations in Ireland as a means of improving individual accountability and allaying public concern in light of the Irish Banking Crisis and the more recent tracker mortgage scandal. It concludes that in cases of mismanagement which is not deliberate or reckless, the Central Bank of Ireland's model of proactive and intensive supervision and enforcement might benefit from the utilization of a SMR enhanced administrative sanctions procedure alongside its Fitness and Probity Regime. However, the introduction of an offence in Ireland relating to a decision causing a financial institution to fail, while appearing to respond to a public desire to improve accountability, would give rise to a number of significant challenges particularly in relation to enforcement.

Fifteen Years of Central Banking in Honduras

1967 ◽  
Vol 9 (4) ◽  
pp. 488-506 ◽  
Author(s):  
Richard A. LaBarge ◽  
Frank Falero
Keyword(s):  
World War Ii ◽  
Central Bank ◽  
Interest Rates ◽  
Central Banking ◽  
Primary Sources ◽  
World War ◽  
Monetary Policies ◽  
The Public ◽  
History Of ◽  
Commercial Paper

The purpose of this paper is to draw together from primary sources the case history of formative policy years for the Central Bank of Honduras. This bank, like others formed throughout the underdeveloped world in the post-World War II era, was created in 1950 as a vehicle for stimulating economic growth. In retrospect over 186 months of operations this particular Central Bank has an unusually outstanding policy record—a record which argues forcefully for appropriate monetary policy as a stimulant to economic advance.The first meeting of Central Bank directors was held on May 31, 1950, for the purpose of establishing the major monetary policies under which the Bank would commence operations July 1. At that meeting the directors established a schedule of maximum interest rates to be charged by the public commercial banks and a schedule of rates at which eligible commercial paper of 12 months maturity or less could be rediscounted with the Central Bank.

Money Markets in East Africa

1966 ◽  
Vol 4 (4) ◽  
pp. 471-478
Author(s):  
W. T. Newlyn
Keyword(s):  
Central Bank ◽  
East Africa ◽  
Securities Market ◽  
Open Market ◽  
Text Book ◽  
Money Markets ◽  
Monetary System ◽  
History Of

THERE was a time when it was thought, in the best places, that in order to justify the establishment of a central bank it was absolutely necessary to have a securities market and a bill market in which the central bank could perform the traditional text-book open-market operations which are so central to the history of the Bank of England's control of the British monetary system.

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