This book focuses on "bank funds management," an area of increasing importance to the management of commercial banks. Bank funds management is the key to short-to-intermediate term decision making in today's dynamic and volatile banking environment. Broadly defined, banks funds management includes all policies designed to obtain and allocate funds. The emphasis is on funds over which management has discretionary control--"discretionary funds management." The book includes three sections. Part 1 includes an introduction to banking. Part II includes functionally related funds management. And, Part III includes integrative funds management. The book has seven chapters: (1) the dynamics of banking, (2) evolution of bank funds management, (3) liquidity management: cash assets, (4) liquidity management: earning assets and liability management, (5) investment management, (6) management science approaches to funds management, and (7) asset/liability management. Discretionary funds management primarily accepts as given (1) those assets and funds sources based on customer relationships, such as loan portfolios and core deposits, and (2) those sources and uses of funds that are subject to strategic management and significant regulation, such as bank capital. This is especially true in the short decision horizon. Short-term funds management is concerned with maintenance of the capital position, rather than making any significant changes. Discretionary funds management does not typically include short-term management of core deposits derived from personal relationships, short-term funding of commercial and retail loan programs, and strategic management of bank capital. Non-earning cash assets are considered to be non-discretionary in nature because a major portion are legally required reserves that support deposits. Bank cash positions require continual monitoring if they are to be maintained at minimum levels consistent with daily cash operating needs, legal reserve requirements, and levels of services received from correspondent banks. Assets and liabilities over which bank management has discretionary control are used to make any needed adjustments in cash positions.

Financial services refer to the economic services delivered by the finance industry across multiple businesses and organizations like banks, insurance companies, stock brokerages, etc. In banks, besides the primary functionalities of storing, lending and borrowing money, financial services also include making investments across many industries and companies, capital generation, insurance facilitation and fund transfer. This book presents the key concepts and theories essential to the field of bank management and financial services. Constant effort has been made to make the understanding of the difficult concepts as easy and informative as possible. Banking professionals, financial advisors, experts and students alike will be benefited by an in-depth study of this book.

The Regulation of Money Managers (with the original subtitle: The Investment Company Act and The Investment Advisers Act) was published in 1978 and 1980. The Second Edition, subtitled Mutual Funds and Advisers, was published in 2001 and has been annually updated since then. It is a comprehensive and exhaustive treatise on investment management regulation. The treatise covers federal and state statutes, their legislative history, common law, judicial decisions, rules and regulations of the Securities and Exchange Commission, staff reports, and other publications dealing with investment advisers and investment companies. The treatise touches on other financial institutions such as banks, insurance companies, and pension funds. The work also discusses the economic, business, and theoretical aspects of the investment management industry and their effects on the law and on policy. The treatise contains detailed analysis of the history and development of the Investment Company Act and the Investment Advisers Act. It examines the definitions in the Acts, including the concept of ‘‘investment adviser,’’ ‘‘affiliates,’’ and ‘‘interested persons.’’ It outlines the duties of investment company directors, the independent directors, and other fiduciaries of investment companies. The treatise deals with the SEC’s enforcement powers and private parties’ rights of action.

Banks are a vital part of the global economy, and the essence of banking is asset-liability management (ALM). This book is a comprehensive treatment of an important financial market discipline. A reference text for all those involved in banking and the debt capital markets, it describes the techniques, products and art of ALM. Subjects covered include bank capital, money market trading, risk management, regulatory capital and yield curve analysis. Highlights of the book include detailed coverage of: Liquidity, gap and funding risk management Hedging using interest-rate derivatives and credit derivatives Impact of Basel II Securitisation and balance sheet management Structured finance products including asset-backed commercial paper, mortgage-backed securities, collateralised debt obligations and structured investment vehicles, and their role in ALM Treasury operations and group transfer pricing. Concepts and techniques are illustrated with case studies and worked examples. Written in accessible style, this book is essential reading for market practitioners, bank regulators, and graduate students in banking and finance. Companion website features online access to software on applications described in the book, including a yield curve model, cubic spline spreadsheet calculator and CDO waterfall model.

For junior-senior/MBA-level courses in Commercial Banking, Commercial Bank Management, Management of Financial Institutions, Financial Institutions and Markets. Established as the market-leader for more than 12 years, this thoroughly revised text describes both the theory and practice of commercial banking from a financial-management perspective. Focusing on the dynamic and rapidly changing financial-services industry, it explores modern financial management decision-making and highlights the importance of adapting to change and creating value as the way for firms to succeed.