scholarly journals Prudential exception in the case “Argentina-Financial Services”

2021 ◽  
pp. 1-11
Author(s):  
Dilyara Rustemovna Gatina
Keyword(s):  
Financial Market ◽  
Financial Services ◽  
Dispute Settlement ◽  
National Level ◽  
Normal Activity ◽  
Risk Prevention ◽  
The World ◽  
The Government ◽  
The Stability ◽  
Shed Light

This article discusses the conclusions of the World Trade Organization Dispute Settlement Body (WTO DSB) on the case “Argentina – Financial Services” pertaining to interpretation of the Paragraph 2 (a) of the Annex on Financial Services to the General Agreement on Trade in Services (GATS), which contains a prudential exception that allows the countries, regardless of their obligations in accordance with GATS, taking measures on the national level that are aimed at maintaining stability in the domestic financial market. The need for studying the approaches applied due to interpretation of this norm, is substantiated by the ambiguous wording of the Paragraph 2 (a) of the Annex on Financial Services, which raises questions on its proper application. The author attempts to give assessment to the decisions of the Arbitration Group on the interpretation of prudential exception, as well as shed light on the instances of its application. This article is the first work within the Russian legal science dedicated to examination of the peculiarities of application of prudential exception. Having analyzed the corresponding provision of GATS, as well as the decisions of the Arbitration Group on the case “Argentina – Financial Services”, the author concludes that virtually any measure introduced by the government on the national level, which serves the purpose of risk prevention that may create a threat to the stability and integrity of the financial market of the country and normal activity of the participant of the financial services market, can fall under Paragraph 2 (a). At the same time, the key and practically the only obstacle for abuse such norm consists in the need to adhere to the principle of good faith in the context of implementation of the corresponding prudential measures.

The Systemic Effects of Prudential Regulation Toughening:The Results of a Stress-test for Russian Banks

2012 ◽  
pp. 4-31 ◽  
Author(s):  
M. Mamonov ◽  
A. Pestova ◽  
O. Solntsev
Keyword(s):  
Financial Services ◽  
Banking Sector ◽  
Stress Test ◽  
Credit Market ◽  
Capital Adequacy ◽  
Government Support ◽  
Government Ownership ◽  
Prudential Regulation ◽  
The Government ◽  
The Stability

The stability of Russian banking sector is threatened by three negative tendencies - overheating of the credit market, significant decrease of banks capital adequacy ratios, and growing problems associated with banks lending to affiliated non-financial corporations. The co-existence of these processes reflects the crisis of the model of private investments in Russian banking sector, which was observed during the last 20 years. This paper analyzes the measures of the Bank of Russia undertaken to maintain the stability of the banking sector using the methodology of credit risk stress-testing. Based on this methodology we conclude that the Bank of Russias actions can prevent the overheating of the credit market, but they can also lead to undesirable effects: further expansion of the government ownership in Russian banking sector and substitution of domestic credit supply by cross-border corporate borrowings. The later weakens the competitive positions of Russian banks. We propose a set of measures to harmonize the prudential regulation of banks. Our suggestions rely on design and further implementation of the programs aimed at developing new markets for financial services provided by Russian banks to their corporate and retail customers. The estimated effects of proposed policy measures are both the increase in profitability and capitalization of Russian banks and the decrease of banks demand for government support.

scholarly journals The Resolution of International Commercial Disputes – What Role (if any) for Continental Europe?

AJIL Unbound ◽  
2021 ◽  
Vol 115 ◽  
pp. 11-16
Author(s):  
Giesela Rühl
Keyword(s):  
The Netherlands ◽  
Dispute Settlement ◽  
Middle Eastern ◽  
National Level ◽  
High Volume ◽  
Radical Change ◽  
The Past ◽  
The World ◽  
Traditional Market ◽  
Commercial Courts

The past sixteen years have witnessed the proliferation of international commercial courts around the world. However, up until recently, this was largely an Asian and a Middle Eastern phenomenon. Only during the past decade have Continental European countries, notably Germany, France and the Netherlands, joined the bandwagon and started to create new judicial bodies for international commercial cases. Driven by the desire to attract high-volume commercial litigation, these bodies try to offer international businesses a better dispute settlement framework. But what are their chances of success? Will more international litigants decide to settle their disputes in these countries? In this essay, I argue that, despite its recently displayed activism, Continental Europe lags behind on international commercial courts. In fact, although the various European initiatives are laudable, most cannot compete with the traditional market leaders, especially the London Commercial Court, or with new rivals in Asia and the Middle East. If Continental Europe wants a role in the international litigation market, it must embrace more radical change. And this change will most likely have to happen on the European––not the national––level.

PSYCHOLOGICAL ASPECTS OF ORGANIZATION OF FRAUD SCHEMES IN THE FIELD OF THE FINANCIAL MARKET

2021 ◽  
Vol 1 (12) ◽  
pp. 69-77
Author(s):  
Аleksey V. Zverev ◽  
◽  
Marina Yu. Mishina ◽  
Andrey V. Novikov ◽  
◽  
...  
Keyword(s):  
Critical Thinking ◽  
Financial Market ◽  
Financial Services ◽  
Psychological Aspects ◽  
Financial Fraud ◽  
Stressful Situation ◽  
Potential Victim ◽  
The Stability ◽  
The Relationship

This article reflects the peculiarities of the psychological connection between a financial fraudster and his potential victim. The process of forming a stressful situation depending on the type of financial fraud is described, the reasons for its occurrence and the result of implementation associated with a decrease in critical thinking are indicated. The essence is also revealed, including from the perspective of the relationship between the fraudster and the potential victim, and the types of financial fraud and practical examples of their manifestation are considered. The psychological portrait of a financial fraudster and his transformation in connection with the changing preferences of consumers of financial services are described. The role of the Bank of Russia in reducing the activity of financial fraud and ensuring the stability of the financial market is reflected.

The New Constitution of the Soviet Union

1936 ◽  
Vol 30 (6) ◽  
pp. 1143-1152 ◽  
Author(s):  
Joseph R. Starr
Keyword(s):  
Soviet Union ◽  
Economic Structure ◽  
Communist Regime ◽  
Great Achievement ◽  
Economic Progress ◽  
The Soviet Union ◽  
The Social ◽  
The World ◽  
The Government ◽  
The Stability

In 1934, the Soviet Union rounded out the first great cycle in its development. The fruition of the Five-Year Plan, the general collectivization of agriculture, the entry of the Soviet Union into the councils of the nations of the world—these and many other successes of the Communist régime were evidences of great achievement. Peace and order and economic progress had been attained at home; the stability of the government had been clearly demonstrated, and friends had been made abroad. The social and economic structure of the country had been completely transformed, and the Socialist community was now a going concern.

scholarly journals PERAN GREEN SUKUK DALAM MEMPERKOKOH POSISI INDONESIA DI PASAR KEUANGAN SYARIAH GLOBAL

2018 ◽  
Vol 1 (2) ◽  
pp. 251
Author(s):  
Yulia Anggraini
Keyword(s):  
Southeast Asia ◽  
Financial Market ◽  
International Perspective ◽  
Qualitative Approach ◽  
The World ◽  
Environmental Development ◽  
The Government ◽  
Historical Methods ◽  
Positive Results

Abstract: This research was motivated by the development of sukuk in Indonesia from an international perspective in 2016 which gave positive results. Where Indonesia is the big issuer of sukuk with a total issuance of USD 10, 5 billion from the total issuance of sukuk by the government from all over the world. In the midst of the development of sukuk instruments, there are also instruments such as green bonds that offer investments in environmental development. With the presence of green bonds as investment instruments in the environment, a sharia investment instrument has emerged which has the same concentration as a green bond. The instrument is then called green sukuk. Indonesia is listed as a pioneer in the issuance of green bonds in the Southeast Asia region. The purpose of this study is to identify the potential of sukuk green publishing in Indonesia to strengthen Indonesia's position in the global sharia financial market. This study uses a qualitative approach using historical methods. الملخص: يتم تحفيز هذا البحث من خلال نظرة إيجابية من المنظور الدولي حول تطوير الصكوك في إندونيسيا في عام 2016. حيث تعد إندونيسيا المصدر الكبير للصكوك بإجمالي ,510 دولارات أمريكية من إجمالي إصدارات الصكوك من قبل الحكومة من جميع أنحاء العالم. في خضم تطوير أدوات الصكوك، هناك أدوات مثل green bond  التي تقدم استثمارات في التنمية البيئية.بعد وجود هذه الأدوات كأداة استثمار في البيئة ، تظهر أداة استثمار الشريعة التي لها نفس تركيز له  يسمى الصكوك الخضراء green sukuk. ومن هنا تم إدراج إندونيسيا كرائد في إصدار السندات الخضراء في منطقة جنوب شرق آسيا. الغرض من هذه الدراسة هو تحديد إمكانات النشر الأخضر للصكوك في إندونيسيا لتعزيز مكانة إندونيسيا في السوق المالية الشرعية العالمية. تستخدم هذه الدراسة منهجًا كميًا باستخدام الطريقة التاريخية.. Abstrak: Penelitian ini dilatar belakangi oleh adanya perkembangan sukuk di Indonesia dari kacamata internasional pada tahun 2016 yang memberikan hasil positif. Dimana Indonesia merupakan the big issuer sukuk dengan total penerbitan USD 10, 5 Milyar dari total penerbitan sukuk oleh pemerintah dari seluruh dunia. Ditengah perkembangan instrumen sukuk telah hadir juga instrumen berupa green bond yang menawarkan investasi pada pembangunan lingkungan. Dengan hadirnya green bond sebagai instrumen investasi pada lingkungan telah muncul sebuah instrumen investasi syariah yang konsentrasinya sama dengan green bond. Instrumen tersebut kemudian disebut green sukuk. Indonesia tercatat sebagai pionir dalam penerbitan obligasi hijau di kawasan Asia Tenggara. Tujuan  dari penelitian ini adalah mengidentifikasi potensi penerbitan green sukuk di Indonesia memperkokoh posisi Indonesia di pasar keuangan syariah global. Penelitian ini menggunakan pendekatan kualitatif dengan menggunakan metode historis.

scholarly journals RETHINKING OF FINANCE STABILITY :

2019 ◽  
Vol 2 (1) ◽  
pp. 15-22 ◽  
Author(s):  
Suryaning Bawono ◽  
Silvi Asna Prestianawati
Keyword(s):  
Exchange Rates ◽  
Quantitative Method ◽  
Ordinary Least Squares ◽  
Paper Money ◽  
Crude Oil Prices ◽  
The World ◽  
Digital Money ◽  
The Government ◽  
The Stability ◽  
The Impact

We are attempting to review the stability of the internal exchange rates of paper money and gold and to examine the effects of the mysterious anti-crypto money policy. We used the ordinary least squares quantitative method to compare the resilience of the internal values of gold and USD against inflation and the charts to see the impact of anti-crypto money policy along with the resilience of gold and USD against the turbulence of internal exchange rate stability. When viewed from R-squared and Adjusted R-squared inflation can be said no significant effect on world crude oil prices with USD as a means of payment. So the world oil turbulence is influenced by another variable that is more significant than inflation. This paper has contribution to the government in monetary side to derive the digital money regulation in order to secure the digital transaction.

Challenges and Factors in Plastics Reutilization/Recycling

2020 ◽  
pp. 401-422
Author(s):  
Vaishali Tomar ◽  
Ankita Dhillon ◽  
Dinesh Kumar
Keyword(s):  
Waste Management ◽  
Environmental Problems ◽  
Plastic Waste ◽  
Factors Affecting ◽  
Plastic Recycling ◽  
Plastics Recycling ◽  
Government Sector ◽  
The World ◽  
The Government ◽  
The Stability

Plastics are used worldwide due to the low price, lightweight, and long-lasting availability. It can be molded into different products. Therefore, the invention of plastics has been increased significantly over the last 50-60 years. Several environmental problems are generating due to plastics used across the world. This kind of observation indicates that plastics are not sustainable. It is accumulating in landfills and natural locales due to the stability of the polymers involved. This chapter discusses the structure and uses of plastics. Plastics recycling is a very challenging duty in waste management. This chapter explores the factors affecting the plastic recycling in detail. This chapter also explores the plastic recycling methods and challenges during plastic recycling and deliberates more briefly how the government sector is working to clean most of the plastic waste from landfills to recycling over the next periods. In the last, this chapter highlights the plastic effects on the environment and how we can use again through recycling.

scholarly journals Techniques for Regulating Military Force

2019 ◽  
pp. 734-752
Author(s):  
Monica Hakimi
Keyword(s):  
Comparative Research ◽  
Use Of Force ◽  
Armed Forces ◽  
Foreign Affairs ◽  
Military Force ◽  
War Powers ◽  
The World ◽  
The Government ◽  
Shed Light ◽  
Over Time

This chapter draws on the five chapters that follow—each of which describes the war powers in a single country—to identify and analyze some of the techniques for regulating this area of foreign affairs and then to reflect on the value of comparative research on it. Three basic techniques are: (1) to establish substantive standards on when the government may or may not use force, (2) to divide among different branches of government the authority to deploy the country’s armed forces, and (3) to subject such decisions to oversight or review. There is considerable variation, both across countries and over time within particular countries, in how and with what effect each technique is used. Given that variation, comparative war powers research might be of limited relevance to national officials who make use of force decisions or to analysts who seek to explain them. Rather, the principal benefit of such research might be to bring into stark relief each country’s own national ethos—to shed light on how it defines itself and conceives of its relationship with the rest of the world

scholarly journals Legal Status of the Financial Ombudsman in the European Union – Risks and Challenges

2021 ◽  
pp. 145-162
Author(s):  
Ewa Derc
Keyword(s):  
Financial Market ◽  
Financial Services ◽  
Financial Stability ◽  
Legal Status ◽  
The Other ◽  
The European Union ◽  
Financing System ◽  
Consumer Rights ◽  
The Stability ◽  
To Receive

This contribution deals with the protection of consumer rights which must be clear and certain. At the same time, it is not possible to protect the important interests of the stability of the financial market and its actors and, at the same time, to protect those who use the services of these actors. After all, the interests of the parties in a contract are not entirely compatible, the client wants to receive the lowest possible price of capital and the borrower the highest possible price. A body that will protect one party will not be independent with regard to the other interest being protected. The idea of all the Financial Ombudsmen created after 2008 is precisely that of protecting one party, the consumer/customer, who, in his or her own way, is the guarantor of the banks' liquidity security. This idea prevails where the consumer of financial services is effectively protected. The Ombudsman is, in a way, a consequence, but also a guarantor of financial stability and the financing system, and not speculation on consumers.

scholarly journals Reshaping Institutional Structure for Financial Consumer Protection

2019 ◽  
pp. 119-128
Author(s):  
Damian Cyman
Keyword(s):  
Financial Market ◽  
Consumer Protection ◽  
Financial Services ◽  
Institutional Structure ◽  
Basic Assumptions ◽  
Twin Peaks ◽  
Supervision Models ◽  
The Stability

The article presents the significance of proper consumer protection for the stability of the financial market. It presents the basic assumptions of such protection and the direction of changes introduced as a result of the crisis of 2007 and the following years. It discusses the change of the consumer protection paradigm from the disclosure obligation to institutional and supervisory protection. It presents the adopted supervision models, including the twin peaks supervision, as well as the objectives that a proper supervision should execute in terms of financial services consumer protection.

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