Written by Charles Proctor, partner in our Banking and Finance practice, The Law and Practice of Modern Banking is a comprehensive and authoritative work on the law of banking, paying particular attention to the needs of legal practitioners in international financial centres. This is the first major banking law text to be published for some years and it provides a fresh approach to banking law by taking into account recent major developments in the field. Such developments include the increasing growth of cross-border transactions and problems, the rise of electronic banking and payment systems, the appearance of Islamic finance on the world stage, and policy, practice and regulatory matters resulting from the banking crisis.
Reflecting the growth of interest in Islamic finance, there is a detailed section on this highly specialized but increasingly important area. The text also reviews regulatory developments at an international level. With a focus on English law, the work draws extensively on authorities Commonwealth jurisdictions to provide a comparitive analysis.
The work includes:
- Consideration of recent 'banking crisis' issues, including the Icelandic bank situations, deposit protection and government intervention
- An overview of current regulatory arrangements
- Discussion of legal issues arising from Basel II, including credit risk mitigation
- A review of recent legislation which facilitates mergers of financial institutions in the UK
- An explanation of the "bank rescue" rules made under the Banking Act 2009
- Explanation of the law and practice relating to syndicated loans, Islamic finance, and derivative products
- Detailed discussion of security structures from both domestic and private international law perspectives
- A section on cross-border problems including coverage of worldwide freezing injunctions, foreign disclosure orders and bankers' duty of confidentiality
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