Comparative Study of Domestic and Foreign Bank Performance in Thailand: The Regression Analysis

This paper studies the performance of domestic and foreign banks in Thailand in terms of profitability and other characteristics after the East Asian financial crisis. The study is based on a micro bank-level panel data on financial statements by pooling cross-bank time-series data with the major balance sheet and income statement ratios for domestic and foreign banks in Thailand for 1995–2000. All banks were found to have reduced their credit exposure during the crisis years, and to have gradually improved their profitability during the post-crisis years. The results indicate that foreign bank profitability is higher than the average profitability of the domestic banks although importantly, in the post-crisis period, the gap between foreign and domestic profitability become closer. This shows some positive results of the financial restructuring program. Saovanee Chantapong (Ms) currently works as a senior economist at the Office of Macroeconomic Policy and Analysis. She received her ph.D. in Economics from the Faculty of Economics and Management at the University of Hannover (Germany) in 2005. Paper submitted to the International West-East Conference 2003: Accounting and Finance in Transition: European and Asian Experiences and Public Policy Considerations, London, 10–12 July 2003. This paper is a revised version of the Kiel Advanced Studies Working paper (May 2002) which was written when the author participated in Advanced Studies Programme (ASP) at the Kiel Institute for World Economics (IFW), Germany. The author is greatly indebted to Dr. Ralph Heinrich, her discussant and Dr. Claudia M. Buch for their valuable comments. The author would like to thank Bussaracum Petchclai and Augsupalee Watcharakiet, her colleagues at the Bank of Thailand for their great help. The paper has benefited from very helpful comments from Felix Hammermann, Om Prakash Mall and Paula Jaramillo. The author is also grateful to Prof. Dr. Lukas Menkhoff, Chair, the Institute of Monetary Economics, Faculty of Economics and Management, University of Hannover. The views expressed in this paper are entirely those of the author only and do not necessarily reflect those of the Bank of Thailand. Remaining errors are under the author’s responsibilities.     

Money Laundering and Banking Secrecy in the Jordanian Legislation

Crimes targeting to damage the property of natural and legal individuals including states are in existence while the objective of people, groups and the entire organizations when committing crimes is illegal property gain in the structure of national, but also of global crime. However, they are insufficient hence they attempt to decriminalize money or other property earned in such manner, e.g. by inserting them into lawful operations and flows. Nonetheless, perpetrators of this kind of crime attempt to hide the right source of money or profit earned in such manner using all means possible. Banking secrecy is one of the main barriers that stand in front of anti-money laundering because it comprises of a barrier to access to bank deposits, and a protection for doubtful funds since it is one of the conventional rules pertinent to the work banks, where clients’ secrets and banking operations are saved by Bank’s commitment by law and custom unless there is provision in the law or in the agreement stating otherwise. This study is aimed at indicating the most significant stages and techniques of money laundering at banking institutions in Jordan and also discussing the function of the Jordanian banks in the light of the pertinent legislation.     

Degradation of polymer banknotes through handling,and effect on fingermark visualisation

The surface structure of mint (as-issued) and handled polymer five pounds sterling banknotes was studied by atomic force microscopy and laser scanning confocal microscopy. A total of 1856 fingermarks on mint and handled banknotes from four different issuing banks (Bank of England, Bank of Scotland, Royal Bank of Scotland and Clydesdale Bank) were visualised with Vacuum Metal Deposition (VMD), Cyanoacrylate Fuming (CAF) and, on Clydesdale Bank notes, magnetic fluorescent powder. VMD was significantly more effective in developing fingermarks on handled banknotes, across all the banks studied, although effectiveness varied with issuing bank. For example, on handled Bank of England notes 45% of marks showed ridge detail with VMD development and 28% with CAF; for Bank of Scotland handled notes success rates were 17% with VMD and 1% with CAF. Microscopy of degraded banknotes showed the loss of intaglio printing and the formation of a cracked surface structure in the handled notes. These features can lead to the trapping of powder, or contaminants, increasing quantity of development agent in fingermark background between the ridges, decreasing contrast and decreasing performance of powder-based fingermark development techniques. These same features can restrict the migration of components of the fingermark, preventing fingermarks degrading through spread of material and thus reducing potential formation of empty prints, so that VMD development is not adversely affected.     

Banking sector reforms in Nigeria: legal implications for the banker–customer relationship

In 2005, the Central Bank of Nigeria introduced a programme of reforms which created a new minimum paid‐up capital for all banks, from two billion Naira to 25 billion Naira; with a compliance deadline of 31 December 2005. This reduced the number of banks operating in Nigeria from 89 to what is now the 25 mega banks. However, the process equally threw up a major legal issue in terms of the impact on the bank‐customer relationship. This article analyses the new reforms, their implications for the banker–customer relationship and concludes with proposals towards better achieving the objectives of the reforms.     

南京政府中央银行之金融监管制度发展论——以国家法文本为中心

中央银行行使的包括金融机构的审批注册、发行准备的集中、金融业务范围的规范、收存准备金等各项金融监管职能,是近现代中央银行三大特定职能之一。1928年南京政府特设了＂中央银行＂,意图使其成为近现代意义上超越于普通商业银行与国家银行的中央银行,对全国金融市场之主体及制度进行监管与约束,以控制金融制度结构为政府所用。但中央银行由于多种原因而一直空有其名,直至1942年,中央银行在政府主导下方进化为身具＂发行的银行＂、＂国家的银行＂、＂银行的银行＂等职能的真正意义的中央银行,此前集体行使中央银行职能的国家银行群最终转向了专业性国家银行,南京国民政府控制下的垄断型金融制度基本成型,然而制度安排刚刚得以完成的金融市场却连同政治一起走向结束。     

外汇储备注资国有商业银行的法律分析--兼谈政府参与经济活动之法观念

20 0 4年 1月 6日 ,国务院宣布动用 4 5 0亿美元外汇储备资金注资中国银行和中国建设银行 ,但这明显与《中国人民银行法》、《公司法》及其他法律与规则存在直接冲突。文章在对外汇储备注资国有商业银行行为进行检讨的基础上 ,阐述政府在参与经济活动中理应树立“角色不得错位、利益不得冲突、人人可 (被 )问责”的法观念 ,真正依法行政 ,以此促进我国市场经济体制的完善和法治建设的发展     

我国地方财政投融资平台债务风险分析

1994年的分税制改革导致中央财政收入占全国财政收入的比重迅速增加,地方政府在财政收入迅速减少的情况下还要承担大量的事权。在这种财力与事权不匹配的情况下,地方政府只有通过举借债务来完成基本公共产品的提供和基本公共服务的供给。金融危机之后,地方融资平台数量骤增,地方债务数额短期内迅速膨胀,加大了银行信贷风险。因此,防范并化解地方政府债务风险便成为当务之急。     

新《破产法》的制度创新解读及其对商业银行债权的影响

新《破产法》是我国经济体制改革进程中的一部标志性法律，它的出台表明我国的市场经济发展到了一个新阶段。它为债务人、债权人、投资者、职工等主体提供了维护自己权益的法律依据；对商业银行而言，它在维护银行债权的同时也对银行债权带来了一些不利影响。因此，有必要对新《破产法》引进的新制度进行解读，并深入分析这些制度对银行债权的影响，以防范银行贷款风险。     

促进科技创新目标下的知识产权担保融资及其法律问题

知识产权质押融资目前在我国被作为实施知识产权战略和应对全球金融危机经济冲击的重要政策工具,政府推动试点,给予资金、贴息等政策支持,以促进银企科技创新和金融创新。但在知识产权权属的不稳定性和价值不稳定性、质权设立和实现等方面还存在着法律风险,本文提出的法律对策是：应该正确定位知识产权质押融资实践的政府目标和法律关系,探索知识产权担保的创新模式和知识产权质权实现的创新方式,引进知识产权保险机制化解融资风险。     

Bad banks: a proposal based on German financial history

In conventional bad bank models, the estimated fundamental value of the illiquid assets is paid to the ailing bank, thereby leaving considerable economic risk with the asset management company. In this paper, a different approach is proposed which combines the bad bank solution with equalization claims, an instrument that has successfully been used in two previous German debt crises. The main idea is to temporarily swap toxic assets for government bonds with an open maturity date. This approach not only leaves total losses with the banks, but also avoids the problem of evaluating the toxic assets in advance. The current German bad bank legislation largely follows this idea, but suffers severely from unnecessary complexity and lack of participation by commercial banks.     

存款保險新機制下的銀行監管權

2013年9月11日,國務院總理李克強在回答世界經濟論壇主席施瓦布關於中國金融體制改革的問題時表示,中國將完善金融監管體系,增強金融監管機構的協調性,並且擇機推出存款保險制度。存款保險制度能夠強化對商業銀行的風險約束機制,從而有效地保護存款人利益,穩定金融秩序,因而很早就受到重視。早在1993年,我國已在《國務院關於金融體制改革的決定》中提出,要建立存款保險基金。此後,我國的立法者和專家學者都對此進行了大量研究。截至2013年6月底,我國人民幣存款餘額已逾百萬億。隨著存款的不斷增長,建設顯性的存款保險機制以防範銀行金融風險顯得尤為重要和迫切,醞釀已久的建立存款保險制度一事再度被提上日程。今年6、7月間,中國人民銀行接連表示,將積極研究制定《存款保險條例》,推進存款保險制度建設。本期特選取朱大旗教授、李慈強博士有關存款保險立法的文章,借鑒國外的成熟經驗,結合我國的具體實踐,探討中國國情下存款保險制度設計的路徑。     

How Brazil outpaced the United States when it came to AIDS: the politics of civic infiltration, reputation, and strategic internationalization

Using a temporal approach dividing the reform process into two periods, this article explains how both Brazil and the United States were slow to respond to AIDS. However, Brazil eventually outpaced the United States in its response due to international rather than democratic pressures. Since the early 1990s, Brazil's success has been attributed to "strategic internationalization": the concomitant acceptance and rejection of global pressure for institutional change and antiretroviral treatment, respectively. The formation of tripartite partnerships among donors, AIDS officials, and nongovernmental organizations has allowed Brazil to avoid foreign aid dependency, while generating ongoing incentives for influential AIDS officials to incessantly pressure Congress for additional funding. Given the heightened international media attention, concern about Brazil's reputation has contributed to a high level of political commitment. By contrast, the United States' more isolationist relationship with the international community, its focus on leading the global financing of AIDS efforts, and the absence of tripartite partnerships have prevented political leaders from adequately responding to the ongoing urban AIDS crisis. Thus, Brazil shows that strategically working with the international health community for domestic rather than international influence is vital for a sustained and effective response to AIDS.     

农村合作金融现状分析与发展对策

国外合作金融近几年出现了四点新动向，即合作金融组织业务经营范围扩大，互助精神淡化，营利和商业化倾向加重，民主管理和自治原则受到削弱，在分配和股权处置上出现股权化倾向等，随着我国国有商业银行改革的深入，农村使用金融体制，经营状况和功能作用都出现了一系列严重问题，急需找出有效的解决对策。     

房地产抵押债权证券化研究——以SPV为中心

随着房地产贷款总量的不断增加，银行面临较大的放贷压力和金融风险，而房地产抵押债权证券化正是一种被住房金融产业发达国家的实践证明了的、行之有效的增强银行资金流动性和消化房贷金融风险的工具。作为房地产抵押债权证券化运作核心的SPV，其制度构造直接决定了房地产抵押债权证券化是否能有效运作。因此，有必要结合国外实践和我国的现行法律制度，就SPV涉及的组织形式、创设主体、独立性及破产等法律问题进行探讨。     

Structural sources of international crime: Policy lessons from the BCCI Affair

The Bank of Credit and Commerce International (BCCI) was established in 1972 to provide help for poor people and poor countries. However, its scandalous closure, as the centre of a huge fraud, indicated that the main beneficiaries of the services of BCCI were the Colombian drug barons, the CIA, and several prominent Third World dictators. The BCCI collapse provides an opportunity to look into these global networks of criminality. It demonstrates that the lines between legitimate and illegitimate enterprises can be very thin; that illicit enterprises can themselves collaborate; and that the bank was itself involved in covert operations and the foreign policies of several states. The BCCI scandal presents a number of lessons in regulatory failure.     

外资银行进入对我国银行业影响的实证研究

本文通过选取1989-2005年的相关数据,运用计量经济学方法实证研究了外资银行进入对我国银行业产业绩效的影响.结果发现,外资银行进入与国内银行的税前利润和管理费用负相关,而与净利息收益和非贷款收益却正相关,且外资银行进入对股份制商业银行的冲击更大.由此我们应该在大力吸引外资银行进入的同时,注重配套改革特别是推进利率的市场化改革,大力鼓励股份制商业银行拓展业务范围,加快国有商业银行市场化改革和股份制改革进程.     

债转股的政策缺陷与完善债转股工作的政策建议

债转股政策是在国有银行资本充足率过低，国有企业实现三年脱困目标有较大困难这一背景下提出的。该政策成功运作的基础非常脆弱，软化了对国有企业的约束，可能对市场机制造成损害。本认为应当从以下几方面完善债转股工作：（１）应当将债转股直接定位为对部分国有企业的财政资助，并将债转股与国有企业战略重组结合起来；（２）运用债转股政策推进国有企业经营机制转换；（３）适时调整债转股的治理结构，将资产管理公司转变为银     

Food Security and Agri‐Foreign Direct Investment in Weak States: Finding the Governance Gap to Avoid ‘Land Grab’

Food security is important. A rising world population coupled with climate change creates growing pressure on global world food supplies. States alleviate this pressure domestically by attracting agri‐foreign direct investment (agri‐FDI). This is a high‐risk strategy for weak states: the state may gain valuable foreign currency, technology and debt‐free growth; but equally, investors may fail to deliver on their commitments and exploit weak domestic legal infrastructure to ‘grab’ large areas of prime agricultural land, leaving only marginal land for domestic production. A net loss to local food security and to the national economy results. This is problematic because the state must continue to guarantee its citizens' right to food and property. Agri‐FDI needs close regulation to maximise its benefit. This article maps the multilevel system of governance covering agri‐FDI. We show how this system creates asymmetric rights in favour of the investor to the detriment of the host state's food security and how these problems might be alleviated.     

Inside or outside control of banks? Evidence from the composition of supervisory boards

This paper examines the composition of supervisory boards of 41 large German banks in 1999–2010. We find that the supervisory board structure reflects both outside control by major shareholders and inside control by other stakeholders. The largest group among non-employee board members is made up of bank managers. The high proportion of former executives and German board representation indicates significant inside control. The chairpersons of banks controlled by banks are less likely to be former executives of the same bank than are the chairpersons of banks controlled by non-banks. Over time, representation of industrial and insurance companies on banks’ supervisory boards has decreased and the representation of banks and foreign shareholders has increased.