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Lecture 13 – Overview of Banks

Banks are among our enduring of financial institutions. Their survival in so many different historical periods is testimony to their importance. Professor Shiller traces the origins of interest rates from Sumeria in 2000 BC, to ancient Greece and Rome, up to the Song Dynasty in China between the 10th and the 12th century. Subsequently, he

Regulatory Reforms – Can we make bankers more like pilots?

The banking industry today faces many challenges, and the need for strong internal governance and control has never been more important. Controls, rules and limits within a bank – and in particular, the interactions of those controls, rules and limits – do more than just limit risk; they also create incentives. The following speech by

Are Private Banks a Realistic Alternative to High Street Banks?

A recent YouGov survey commissioned by London based private bankers, Duncan Lawrie, has confirmed the relentless deterioration in the public’s perception of the main high street banks in the wake of events such as the Libor fixing scandal, the computer problems at Natwest and the exposure of the bonus culture which appears to dominate the

Shadow Banking: Parallel and Growing?

The banking industry in its organized format is not very old. A century ago banks operated in a system with very limited regulation and little backing from the government. It was a system characterized by bank runs. The depression saw the introduction of the federal deposit insurance, which helped reduce bank runs and gave banking