Financial institutions, financial accounts, and the common reporting standard

2018 ◽  
pp. 235-238
Keyword(s):  
Financial Institutions ◽  
Reporting Standard ◽  
The Common

The Ethical Foundations of Aid

2018 ◽  
pp. 545-558
Author(s):  
Paul Collier
Keyword(s):  
Financial Institutions ◽  
Poverty Reduction ◽  
Development Assistance ◽  
Humanitarian Aid ◽  
Mutual Benefit ◽  
International Financial Institutions ◽  
Poor Countries ◽  
Ethical Rationale ◽  
The Common

Despite its long history, aid for poor countries has never had a secure ethical rationale. “Poverty reduction” is inadequate: I show that people who are equally poor, but in countries with different circumstances, should not be equally eligible. I ground the rationale for aid in two psychologically instinctive duties of rescue: for humanitarian aid the rescue is from catastrophe, for development assistance it is from mass despair. I argue that the common practice of making aid conditional upon policy—whether economic, as developed by the International Financial Institutions, or social and environmental as required by NGOs—is both unethical and counterproductive. Instead, I develop the advantages and limitations of aid for mutual benefit.

scholarly journals Cross-border tax evasion after the common reporting standard: Game over?

2020 ◽  
Vol 190 ◽  
pp. 104240 ◽  
Author(s):  
Elisa Casi ◽  
Christoph Spengel ◽  
Barbara M.B. Stage
Keyword(s):  
Tax Evasion ◽  
Reporting Standard ◽  
Cross Border ◽  
The Common

scholarly journals Impact of Legal Incentives on “Credit Fraud” Criminal Offence

2021 ◽  
Vol 6 (1) ◽  
pp. 159
Author(s):  
Rezana Balla ◽  
Kamarul Bahari Yaakub
Keyword(s):  
Financial Institutions ◽  
Financial Services ◽  
Financial Education ◽  
Financial Sector ◽  
Financial Industry ◽  
Criminal Offense ◽  
Consumer Loans ◽  
Raising Awareness ◽  
History Of ◽  
The Common

Currently, the number of financial institutions has been increased in Albania, which provides Albanian citizens with access to various financial services, mainly to obtain financing services in the form of microcredit. Given the history of our people, not all the Albanian citizens have had opportunity to have access and to benefit from various financial services. Denial of financial services is an issue that has affected not only Albania, but also other small Balkan countries. The reasons for this denial are numerous, but among them, we can distinguish the lack of lending experience, as one of the common reasons for being excluded in these countries from the development of the financial sector. Taking into consideration that, the growth of financial institutions led to the growth of financial services by raising awareness and financial education of citizens. Finally, the Bank of Albania , as the supervisor of financial activities, intends to set a ceiling on the interest of consumer loans provided by non-bank financial institutions and commercial banks in Albania. This paper aims to present through a professional legal treatment all the challenges of the legal and institutional framework of the Bank of Albania, itself in undertaking this initiative. The questions we intend to answer through this paper are: Is the Bank of Albania legitimized to set a ceiling interest rate for consumer credit? What are the benefits or challenges that this initiative will bring to the financial sector? How will this regulation affect the criminal offense of "Credit Fraud"? How will the financial industry be designed after the implementation of the initiative? Will it have any impact on customer beneficial? etc.

scholarly journals A Call to Action: From Evolution to Revolution on the Common Reporting Standard

2018 ◽  
Author(s):  
Elisa Casi ◽  
Sara Nenadic ◽  
Mark Dinko Orlic ◽  
Christoph Spengel
Keyword(s):  
Reporting Standard ◽  
Call To Action ◽  
The Common

Due Diligence in International Tax Law

2020 ◽  
pp. 302-311
Author(s):  
Reuven S. Avi-Yonah ◽  
Gianluca Mazzoni
Keyword(s):  
Financial Institutions ◽  
Tax Evasion ◽  
Tax Compliance ◽  
Subsequent Development ◽  
Tax Law ◽  
Due Diligence ◽  
The Common ◽  
Overall Efficiency ◽  
International Tax ◽  
Private Actors

This chapter describes how the due diligence standard was developed in international tax law before 2008, and then how the standard was greatly modified after the financial crisis, the enactment of the Foreign Account Tax Compliance Act of 2010 (FATCA), and the subsequent development of the Common Reporting Standards (CRS). The chapter outlines how the due diligence concept is applied to private actors, especially financial institutions, to prevent tax evasion. It ends with some conclusions including that while due diligence in international tax law is currently embodied in a specific set of rules, there remains an absence of an overarching standard of due diligence, so that the overall efficiency of the rules requiring due diligence is weakened.

scholarly journals Opacidade e Assunção de Risco pelos Bancos

2012 ◽  
Vol 10 (4) ◽  
pp. 499
Author(s):  
Patrick Behr
Keyword(s):  
Financial Institutions ◽  
Risk Taking ◽  
Bank Risk ◽  
Z Score ◽  
Common View ◽  
Suggestive Evidence ◽  
The Common ◽  
The Relationship

This paper investigates the relationship between opaqueness and bank risk taking. Using a sample of 199 banks from 38 countries over the period January 1996 to December 2006, I analyze whether more opaque banks are riskier than less opaque banks. I find suggestive evidence that commonly used proxies for bank opaqueness are significantly related to bank risk taking as measured by the Merton PD and the bank-individual Z-score, even after accounting for potential simultaneity between risk taking and opaqueness. More opaque banks seem to engage more in risk taking than less opaque banks. This result provides support to the common view that bank opaqueness is problematic and that transparency among financial institutions should be increased.

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