scholarly journals Ethics in the Operation of Banks in the Perspective of the Financial Crisis of 2007–2009

2020 ◽  
Vol 2 ◽  
pp. 55-67
Author(s):  
Eliza Komierzyńska-Orlińska
Keyword(s):  
Financial Crisis ◽  
Market Economy ◽  
Capital Markets ◽  
Financial System ◽  
Public Trust ◽  
Economic Life ◽  
Special Role ◽  
Banking Activity ◽  
Global Financial System ◽  
Partial Paralysis

Ethics in bank operations is and should be relevant. Because of their special status – institutions of public trust and the special role they play in the market economy – creating the bloodstream of economic life while being its participants as entrepreneurs – all their actions should have ethical foundations. They staggered tremendously during the financial crisis of 2007–2009 (called the crisis of trust) when as a result of careless actions of banks a problem of so-called toxic assets appeared which have shaken the foundations of banking activity. This resulted in the collapse of the capital markets, partial paralysis of the global financial system and a massive recession. The greed and recklessness of financiers began to be identified with the institution of the bank. Th aim of this study is to draw attention to the fact that banks – despite the turmoil (or rather especially because of) the crisis of 2007–2009 – as institutions of public trust should be guided by the values, standards and principles of ethics in every aspect of its business despite the fact that they are entrepreneurs focused on maximizing profit.

Disappointment with Transition

2021 ◽  
pp. 107-113
Author(s):  
Kristen Ghodsee ◽  
Mitchell A. Orenstein
Keyword(s):  
Public Opinion ◽  
Financial Crisis ◽  
Market Economy ◽  
Social Cohesion ◽  
Public Trust ◽  
The State ◽  
2008 Financial Crisis ◽  
Life Dissatisfaction ◽  
Low Levels ◽  
The 2008 Financial Crisis

Chapter 9 introduces and analyzes public opinion data with a specific focus on the Life in Transition survey conducted in 2006. It points out that citizens of the selected postsocialist countries who were surveyed expressed surprisingly high levels of discontent with markets and democracy, high levels of dissatisfaction with the state of politics in 2006, high levels of overall life dissatisfaction, a distinct lack of support for the coupling of a market economy with democracy, and low levels of public trust and social cohesion. This chapter also points out that these public opinion data came as an immense surprise to Western institutions, especially as the survey was conducted before the 2008 financial crisis during a period of relative success for the surveyed postsocialist countries.

scholarly journals The «Group of Twenty», IMF and EU and Reforming of Global Governance

2014 ◽  
pp. 80-87
Author(s):  
E. J. Il'in
Keyword(s):  
Financial Crisis ◽  
Financial System ◽  
Bretton Woods ◽  
Economic Organizations ◽  
The World ◽  
World Economic ◽  
Floating Exchange Rates ◽  
Global Financial System ◽  
The Imf

This article is devoted to the process of reforming the global financial system and world economic organizations since the foundation of the International Monetary Fund at the Bretton Woods Conference in 1944 to present time. Special attention is given to results of cooperation of the IMF and the "Group of Twenty"in the context of the world financial crisis 2008-2009. This article mentions the key benchmarks of the historical development of world economy: foundation of the Bretton Woods financial system, rejection of the gold standard at the Jamaica Conference, transition to the floating exchange rates, the wave of crises in the 1990-s, the world financial crisis of 2008-2009. The process of evolution of the IMF within the framework of these global events is considered here. The cooperation of EU, IMF and "Group of Twenty" is considered. The reforms of the IMF and their results are analyzed. The policy of the IMF at different historical stages of its evolution is estimated. As well as it results, the article also deals with the formation and development of the "Group of Twenty". The increasing role of the "Group of Twenty" in the global economic governance and reforming the IMF is considered. Especially is marked the necessity of the further reforms of the IMF and increasing of participation of the "G-20" in the world economic and politic system.

scholarly journals Sovereign wealth funds: Investment objectives and asset allocation strategies

2014 ◽  
Vol 3 (2) ◽  
pp. 32-52 ◽  
Author(s):  
Daniil Wagner
Keyword(s):  
Financial Crisis ◽  
Asset Allocation ◽  
Special Role ◽  
Investment Strategies ◽  
Sovereign Wealth Funds ◽  
Financing Gap ◽  
Recent Financial Crisis ◽  
Global Financial System ◽  
Allocation Strategies

Sovereign Wealth Funds (SWFs) have steadily increased their importance in the global financial system in the last decade and especially during the financial crisis period. Although the objectives and investment strategies of SWFs are quite diverse, I propose to sort them into three main groups, depending on their sponsor countries’ endowment with resources and investment objectives. I present case studies and empirical analyses that reflect SWF investment activities and try to elaborate on the special role of each SWF group. Special emphasis is given to the recent financial crisis, where SWFs also acted as bailout investors by injecting substantial capital into global financial institutions, filling a financing gap that other institutional investors could not close.

scholarly journals Remembering Financial Crises: The Risk Implications of the Rise of Institutional Investors in Project Finance

2018 ◽  
pp. 383
Author(s):  
David Park
Keyword(s):  
Financial Crisis ◽  
Institutional Investors ◽  
Financial Services ◽  
Global Economy ◽  
Financial System ◽  
Project Finance ◽  
Market Failures ◽  
Institutional Investment ◽  
Banking Regulations ◽  
Global Financial System

Barely a decade ago, a cascading sequence of market failures threatened to topple the global financial system. Public responses to the recent Financial Crisis were immediate and drastic to resuscitate the global economy while attempting to make the markets safer. Many financial services sectors have since recovered to pre-crisis levels. One such industry is project finance, which comprises various financing arrangements often used to fund long-term infrastructure or industrial projects. Curiously, significant post-crisis banking regulations and other global credit enhancement initiatives are pushing banks out of project finance and giving rise to institutional investors. This Comment argues that animated institutional activity in project finance may increase both financial and, more notably, governance risks. Further, increased institutional investment in project finance shifts the risk intended to be captured under new banking regulations to unregulated markets and makes the financial system more complex and interconnected. Ultimately, public responses to the Financial Crisis may have the unintended consequence of increasing project-level risks and injecting seemingly regulated systemic risk back into the global financial system.

JPMorgan Chase, Bank of America, Wells Fargo, and the Financial Crisis of 2008

2018 ◽  
Vol 55 (2) ◽  
pp. 237-260 ◽  
Author(s):  
Lauren Berkshire Hearit
Keyword(s):  
Discourse Analysis ◽  
Financial Crisis ◽  
Financial System ◽  
Public Trust ◽  
Additional Research ◽  
Press Coverage ◽  
Issue Management ◽  
Institutional Legitimacy ◽  
Financial Communication ◽  
Financial Crisis Of 2008

Following the financial crisis of 2008, major banks such as JPMorgan Chase, Bank of America, and Wells Fargo attempted to rebuild stakeholder and shareholder trust in the American financial system. Through a discourse analysis of JPMorgan Chase, Bank of America, and Wells Fargo’s legitimation efforts, this study provides additional research on the practice of strategic financial communication. Specifically, this article found how JPMorgan Chase, Bank of America, and Wells Fargo responded to questions about their actional and institutional legitimacy in their practice of issue management was echoed within each bank’s press coverage and organizational discourse. Yet this study also found that banks that were better able to directly respond to media critique more effectively navigated the financial crisis. This study underscores the importance of careful communication in managing shareholder and stakeholder concerns and rebuilding public trust in their corporations.

The impact of blockchain and cryptocurrencies on the global financial system: Prospects and contradictions

2021 ◽  
Vol 27 (9) ◽  
pp. 2096-2117
Author(s):  
Husan S. UMAROV
Keyword(s):  
Foreign Exchange ◽  
Capital Markets ◽  
Positive Impact ◽  
Financial System ◽  
Financial Instruments ◽  
Present Stage ◽  
Economic Agents ◽  
The Impact ◽  
Global Financial System ◽  
System Today

Subject. This article examines the impact of cryptocurrencies on the global financial system. Objectives. The article aims to identify, systematize, and analyze the influence of cryptocurrencies, as well as the blockchain, on the global financial system, and identify the opportunities and limitations that exist at the present stage. Methods. For the study, I used the methods of logical and statistical analyses, systematization, and forecasting. Results. In accordance with the original hypothesis put forward, the article reveals that cryptocurrencies do not represent such a powerful part of the global financial system today to consider it as a driver of changes in this system, but large enough to provoke a crisis similar to the coronavirus one. Conclusions. Today, cryptocurrencies are one of the promising financial instruments, the influence of which in the global financial system can significantly increase with the appropriate actions of the economic agents themselves. The positive impact on the elements of the global financial system will make cryptocurrencies more instrumental in the global foreign exchange and capital markets.

scholarly journals Concentration risk: Setting credit limits in loan portfolios, case of Morocco

2016 ◽  
Vol 6 (3) ◽  
pp. 50-58
Author(s):  
Bazzi Mehdi ◽  
Chhaiba Hassan ◽  
Hasna Chamlal
Keyword(s):  
Mathematical Model ◽  
Financial Crisis ◽  
Financial System ◽  
Regulatory Environment ◽  
2008 Financial Crisis ◽  
Loan Portfolios ◽  
The 2008 Financial Crisis ◽  
Set Up ◽  
Credit Portfolio ◽  
Global Financial System

The latest biggest financial crisis reveals different weakness points over the global financial system. The concentration risk is one of many different risks that figured out by the regulators after the 2008 financial crisis. To deal with such a risk the regulators set up a dispositive of measures to control it. Therefore, we suggest in this paper a version of a mathematical model that optimize the allocation of capitals for a credit portfolio of a bank with taking into consideration the Moroccan regulatory environment.

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