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This book takes you on a journey through post-crisis regulatory reform, highlighting the unintended consequences of some of the measures on transaction banking, a business that provides the backbone of financial markets.

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Foreword by Vitor Constâncio 1 Regulation and Transaction Banking: A journey through a relationship at the crossroads 2 Post-Crisis Regulatory Change Introduction 2.1 What is in store for the global banking industry 2.2 Financial stability 2.3 Consumer and investor protection 2.4 Standards and harmonisation 2.5 Other developments of significant calibre 3 Transaction Banking 101 Introduction 3.1 So ... What is transaction banking? 3.2 The role of transaction banking in the economy 4 The Journey from Basel I to Basel III: History and fundamentals explained Introduction and history of the Basel Committee 4.1 An overview of the journey from Basel I to Basel III 4.2 Additional BCBS requirements: the ´Framework on monitoring tools for intraday liquidity management´ 4.3 ... And more additional BCBS requirements: the ´supervisory framework for measuring and controlling large exposures´ 4.4 Basel III: Some examples of national diverging implementations 4.5 What about the macroeconomic impact of Basel III? 5 The Payments Special: Europe Versus the US Introduction 5.1 European payments - the quest for integration 5.2 The saga of the EU Payment Services Directive 5.3 US Dodd-Frank revision of Regulation E, section 1073: A European import? 6 Impacts of Basel III and Other Regulations on the Transaction Banking Business Introduction 6.1 What Basel III and other key legislation will mean for cash Management 6.2 Basel III and other regulatory challenges to correspondent Banking 6.3 Trade finance under Basel III: A risk to global growth? 6.4 Securities services under Basel III 6.5 Other regulatory changes that impact transaction banking services 7 The Magic Mix: Or how to avoid future financial crises 7.1 What have we learned so far? 7.2 An overview of the themes arising from legislation 7.3 Solutions 7.4 Predictions

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´This book brings to light the challenges of international regulation and clarifies the role of transaction services in supporting the world economy. It is an essential navigation tool to understand unintended consequences of regulations on this vital business, where rectifying measures should be applied.´

Vítor Constâncio, Vice President European Central Bank

´The importance of transaction banking services, such as trade finance, to the real economy has to be considered in the context of Basel III and other key legislative developments. This book constitutes a critical contribution to the design of the bank regulatory regime post-crisis, which needs to ensure that critical banking services can continue to be delivered in support of the global economy.´

Sharon Bowles, Former Member of the European Parliament and Chair of the Economic and Monetary Affairs Committee 2009 2014

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