영문목차
Table of Cases=xxi
Preface to the Third Edition=xxvii
Preface to the Second Edition=xxix
Preface to the First Edition=xxxi
Acknowledgments=xxxiii
Chapter 1. The Regulatory Environment=3
1. Introduction=3
Notes and Comments
1.1. What is "banking"?=3
Texas State Bank v. United States=5
1.2. Dodd-Frank Act and U.S. bank regulation=5
1.3. The Dodd-Frank Act and international banking=10
Banking Law and Regulation §12.05[B] / Michael P. Malloy=10
1.4. Banking and regulators=11
Stern Rebuke : In a Signal to Japan, U.S. Bars Daiwa Bank And Indicts Institution=11
1.5=14
2. The Meaning of "International Banking"=14
1.6=14
The Development of International / Haley ; Seligman=14
Banking by the United States=14
1.7=16
1.8=16
The Role of Foreign Banks in International Banking / Wendt=17
1.9=22
1.10=22
1.11=23
3. Contemporary Developments=23
1.12. Effect of European Union regulation=23
Spain : Converging with the European Community / M. Galy, et al.=23
1.13=25
1.14=25
1.15. EU-Wide banking regulation―Initial approaches=25
1.16. EU-Wide banking regulation―Current status=25
1.17. Emerging regulatory regimes in Eastern Europe=26
The New Banking Legislation in Russia / Inna Vysman=27
Economic Legal Reforms as a Necessary Means for Eastern European Transition into the Twenty-First Century / Kirsten Storin Doty=35
1.18=39
1.19=39
1.20. Emergence of the NAFTA approach to international bank regulation=39
Financial Services Regulation After NAFTA / Michael P. Malloy=39
1.21=49
1.22=49
1.23=50
Islamic Banking―The Feasibility of Establishing an Islamic Bank in the United States / J. Michael Taylor=50
1.24=59
1.25. What's in a name?=59
1.26=59
Chapter 2. National Supervision of International Banking=61
1. U.S. Federal Regulation=61
2.1=61
2.2=61
2.3. U.S. Regulation of International Banking under the FDICIA=66
2. Role of State Regulators=68
2.4=68
Conference of State Bank Supervisors v. Conover=69
National Commercial Banking Corp. of Australia, Ltd. v. Harris=72
2.5=77
2.6=77
2.7. Role of state regulators under FDICIA=77
3. Host Country Regulation=78
Legal and Regulatory Constraints within Other Countries / Korsvik=78
2.8=79
2.9=79
2.10=80
2.11=80
2.12=81
2.13=81
Principles of Bank Regulation / Michael P. Malloy=81
Chapter 3. International Supervision=85
1. Introduction=85
3.1=86
3.2=86
3.3=86
2. Bank for International Settlements and the Basel Committee=86
Committee on Banking Regulations and Supervisory Practices, Principles for the Supervision of Banks' Foreign Establishments=87
3.4=92
3.5=92
3.6. Further developments concerning the Concordat=92
Basle Committee on Banking Regulation and Supervisory Practices, Supplement to the Basle Concordat Ensuring of Adequate Information Flows between Banking Supervisory Authorities=93
Basle Committee on Banking Regulation and Supervisory Practices, Report on Minimum Standards for the Supervision of International Banking Groups and Their Cross-Border Establishment=96
3.7. Bank Secrecy and the Concordat Supplement=100
3.8. BIS Minimum Standards and the BCCI scandal=100
3.9. Core Principles for Effective Banking Supervision―Its origins=100
3.10. Core Principles―Current version=101
Banking Law and Regulation §15.02[C][1] / Michael P. Malloy=101
3.11. Comparative Developments in the EU=102
Reorganisation and Winding up of Credit Institutions, Directive 2001/24/EC=102
3.12. Beyond the Concordat=110
Banking Law and Regulation §15.06[A] / Michael P. Malloy=111
3.13=121
3. BIS Capital Adequacy Guidelines=122
3.14=122
3.15=122
Capital Adequacy and Regulatory Objectives / Michael P. Malloy=122
3.16=130
3.17. Furtherance of the BIS capital adequacy guidelines under FDICIA=130
3.18. Adjustment in the capital adequacy rules=130
3.19=131
Capital Regulation and International Banking : A Questionable Strategy / Michael P. Malloy=131
3.20=135
3.21=135
3.22. The financial crisis intervenes=136
Banking Law and Regulation §15.02[C][1] / Michael P. Malloy=136
3.23=142
Chapter 4. Entry by U.S. Banks into Foreign Markets=143
1. Introduction=143
4.1=143
4.2=143
4.3=145
4.4=145
4.5. Note on EU Developments=145
EC Regulation of the Banking Sector / Wendy Fowler=145
4.6. Entry and e-Banking=151
4.7=153
4.8=153
Yayasan Sabah Dua Shipping SDN BHD v. Scandinavian Liquid Carriers Limited=153
4.9=156
2. U.S. Statutory and Regulatory Provisions=156
4.10=156
4.11=156
4.12=157
4.13=157
4.14=157
4.15=157
Comptroller of the Currency, 12 C.F.R. pt. 28=157
Board of Governors of the Federal Reserve System, 12 C.F.R. pt. 211=158
3. Branches and their Liability=182
4.16=182
Vishipco Line v. Chase Manhattan Bank=182
Garcia v. Chase Manhattan Bank, N.A.=186
Perez v. Chase Manhattan, 61 N.Y.2d 460 (1984)=191
4.17=195
4.18=196
4.19. Branch-home office liability revisited=198
4.20=198
X AG v. A Bank=198
Libyan Arab Foreign Bank v. Bankers Trust Company=200
4. Subsidiaries and their Liability=201
4.21=201
S.E.C. v. Banco Della Svizzera Italiana=201
Restatement of Foreign Relations Law of the United States (3d) / American Law Institute=202
4.22=204
Chapter 5. Entry by Foreign Banks into U.S. Markets=205
1. Introduction=205
5.1. The U.S. Regulatory Environment and Entry=205
5.2=205
Comptroller of the Currency, 12 C.F.R. pt. 28=206
Board of Governors of the Federal Reserve System, 12 C.F.R. pt. 211=208
5.3=229
Federal Reserve System, ICICI Bank Limited, Mumbai, India, Order Approving Establishment of a Branch=229
5.4=232
5.5=232
5.6=232
5.7. Representative Offices=232
5.8. Uses of Representative Offices : Andhra Bank=232
5.9. Uses of Representative Offices : International Bank of Azerbaijan=233
2. The International Banking Act of 1978=233
5.10=233
Conference of State Bank Supervisors v. Conover=233
5.11=242
5.12. Effect of the 1991 amendments to the IBA=242
5.13. Regulatory implementation of the FDICIA=243
5.14=243
5.15. Effect of lBBEA on interstate operations of non-U.S. banks=243
5.16. Community credit needs and foreign bank operations=245
5.17=246
5.18=246
5.19. Effect of the 1990 BIS Concordat Supplement=246
5.20. Effect of BIS Minimum Standards=246
Chapter 6. International Lending=247
1. Introduction=247
6.1=247
2. Regulatory Considerations=247
6.2=247
International Financial Law : Is the Law Really "International" and Is It "Law" Anyway? / Agasha Mugasha=248
6.3. Effect of FDICIA on lending by U.S. branches and agencies of foreign-based banks=248
6.4. Regulatory implementation of FDICIA=249
Federal Deposit Insurance Corporation, 12 C.F.R. Part 347 International Banking=249
6.5=250
3. Enforcement of Loan Agreements=250
6.6=250
Libra Bank Ltd. v. Banco Nacional de Costa Rica=250
Allied Bank Int'l v. Banco Credito Agricola de Cartago=256
A.I. Credit Corp. v. Government of Jamaica=257
Lloyds Bank PLC v. Republic of Ecuador=260
Does a choice-of-law clause waive immunity? / Kahale=266
4. Lending Limitations=270
6.7=270
6.8=270
Comptroller of the Currency, 12 C.F.R. §32.5=270
6.9=273
5. Lending Supervision=274
6.10=274
6.11=274
Comptroller of the Currency, 12 C.F.R. pt. 28=274
6.12=276
6.13=276
Chapter 7. Problems of Sovereign Debt=279
1. Introduction=279
7.1=279
7.2. Alternative Approaches to Official Debt Default=281
A Brief History of International Lending, From a Regional Banker's Perspective / Walker F. Todd=281
7.3. The Brady Plan to the Rescue=286
Lloyds Bank PLC v. Republic of Ecuador=287
Pravin Banker Associates, Ltd. v. Banco Popular del Peru=287
Elliott Associates, L.P. v. The Republic of Panama=291
2. Debt-for-Equity Swaps : Federal Reserve Amendments=294
7.4=294
Federal Reserve Board, Amendments to Regulation K (1987)=295
Federal Reserve Board, Amendments to Regulation K (1988)=296
Board of Governors of the Federal Reserve System, International Banking Operations=297
3. Sovereign Immunity Issues=300
7.5=300
Foreign Sovereign Immunities Act=300
Does a Choice-of-Law Clause Waive Immunity? / Kahale=308
Allen v. Russian Federation=308
Callejo v. Bancomer, S.A.=317
De Sanchez v. Banco Central de Nicaragua=324
Croesus EMTR Master Fund L.P. v. Federative Republic of Brazil=332
7.6=337
Allen v. Russian Federation=337
7.7=338
7.8=338
4. Act of State Doctrine=348
7.9=338
7.10=339
7.11=339
7.12=339
Libra Bank Ltd. v. Banco Nacional de Costa Rica=340
Callejo v. Bancomer, S.A.=347
Allied Bank Int'l v. Banco Credito Agricola de Cartago=353
Blanchard & Co., Inc. v. Barrick Gold Corp.=354
7.13. Effect of IMF Policy on the Application of the Act of State Doctrine=356
2(b) or Not 2(b) : Fifty Years of Questions―The Practical Implications of Article VIII Section 2(b) / Gerhard Wegen=357
Libra Bank Ltd. v. Banco Nacional de Costa Rica=364
Callejo v. Bancomer, S.A.=370
Allied Bank Int' l v. Banco Credito Agricola de Cartago=374
Chapter 8. International Deposits and Other Activities=375
1. Introduction=375
2. International Deposit-Taking=375
8.1=375
8.2. Examination cycle for banks operating in the United States=376
Federal Deposit Insurance Corporation, 12 C.F.R. pt. 347 International Banking=378
8.3=379
Board of Governors of the Federal Reserve System, 12 C.F.R. pt. 204=379
8.4. Effect of FDICIA on deposit-taking=389
8.5. Effect of IBBEA on deposit-taking=389
Federal Deposit Insurance Corporation, 12 C.F.R. pt. 347 International Banking=390
8.6. Eurodollar deposits=397
Citibank, N.A. v. Wells Fargo Asia Limited=397
Wells Fargo Asia Limited v. Citibank, N.A.=402
3. Letters of Credit=405
8.7=405
Comptroller's Handbook for National Bank Examiners=405
8.8. Commercial Letters of Credit=405
Maurice O'Meara Co. v. National Park Bank of New York=407
United Bank Ltd. v. Cambridge Sporting Goods Corp.=410
Bank of Cochin Ltd. v. Manufacturers Hanover Trust=413
8.9=421
8.10. Substantial compliance under the UCP=422
Blonder & Co., Inc. v. Citibank, N.A.=423
8.11=426
8.12=426
8.13=426
8.14. Electronic transmittal of L/C documents―Revised UCC Article 5=427
8.15. Electronic transmittal of L/C documents―UCP=427
eUCP Version 1.0=427
8.16=430
8.17=430
Comptroller of the Currency, 12 C.F.R. §7.1016=430
8.18=432
8.19. Standby Letters of Credit=432
Legality of Guaranty Letters of Credit / Henry Harfield=432
8.20=434
8.21=434
American Insurance Ass'n v. Clarke=435
American Bell International, Inc. v. The Islamic Republic of Iran=437
8.22=441
Principles of Bank Regulation / Michael P. Malloy=441
8.23=442
8.24=442
Sava Gumarska in Kemijska Industria d.d. v. Advanced Polymer Sciences, Inc.=443
4. Bankers' Acceptances=450
8.25=450
8.26=450
5. Underwriting and Syndication=451
8.27=451
8.28. Authorization of financial services=452
8.29. Functional regulation of financial services=452
8.30. Implementing regulations=453
Board of Governors of the Federal Reserve System, 12 C.F.R. pt. 211=453
Board of Governors of the Federal Reserve System, 12 C.F.R. pt. 225=455
8.31. Questions concerning financial services of banks and holding companies=471
8.32=472
8.33=472
Investment Services in the Securities Field, Council Directive 93/22/EEC=472
8.34=482
8.35=482
8.36=482
8.37=482
Trade Development Bank v. Continental Insurance Co.=483
6. Export Trading Companies=483
8.38. Banking and Commerce=483
Board of Governors of the Federal Reserve System, 12 C.F.R. pt. 211=484
8.39=487
8.40=487
8.41=487
8.42=487
Chapter 9. Conflicts of International Policy=489
1. Introduction=489
2. Bank Secrecy489
a. Bank Secrecy under U.S. Law and Policy=489
9.1. Increased U.S. focus on foreign- or international-related financial information=490
9.2. Recent statutory narrowing of RFPA and ECPA protections=490
9.3. Renewed prominence of anti-money laundering provisions in the wake of terrorist attacks on the United States=491
9.4. Major money laundering provisions of USA PATRIOT Act=491
9.5=492
Walker v. S.W.I.F.T. SCRL=493
9.6. Contrast with Belgian, Swiss, EU Privacy Law=497
9.7=498
9.8=498
L & J Crew Station, LLC v. Banco Popular De Puerto Rico=498
Medical Supply Chain, Inc. v. US Bancorp, NA=499
Stone v. Ritter=501
9.9=503
9.10=504
9.11=504
Lopez v. First Union National Bank of Florida=504
Walker v. S.W.I.F.T. SCRL=509
9.12=511
Coronado v. Bank Atlantic Bancorp, Inc.=512
9.13=516
9.14=516
Stoutt v. Banco Popular De Puerto Rico=517
b. Nature and Effects of Foreign Bank Secrecy Laws=521
9.15=521
Swiss Banking Law of 1934, Article 47=521
Swiss Penal Code, Article 273=521
Demystification of the Swiss Banking Secrecy and Illumination of the United States-Swiss Memorandum of Understanding / Honegger=521
9.16=524
9.17. Effect of the 1990 Supplement to the Basle Concordat=524
9.18. Effect of the 1992 BIS Minimum Standards=524
9.19=525
"Dirty Money" and Swiss Banking Regulations / Hirsch=525
9.20=528
c. U.S. Policy toward Foreign Bank Secrecy=529
9.21=529
Trade Development Bank v. Continental Insurance Co.=529
In re Grand Jury Proceedings=532
S.E.C. v. Banca Della Svizzera Italiana=535
9.22=540
In re Grand Jury Proceedings=540
United States v. First National Bank of Chicago=543
9.23=546
9.24=546
9.25=547
9.26=547
Restatement of the Foreign Relations Law of the United States (3d) / American Law Institute=547
9.27=548
9.28. ABA views on foreign bank secrecy in U.S. litigation=548
9.29=548
Strauss v. Credit Lyonnais, S.A.=549
9.30=557
9.31=557
3. Economic Sanctions and International Banking=557
a. Introduction=557
9.32=557
Republic of Panama v. Republic Nat. Bank of N.Y.=557
9.33=560
9.34=561
Papadopoulos v. Chase Manhattan Bank, N.A.=561
b. Statutory Authority for Economic Sanctions=563
9.35=563
Trading With the Enemy Act, §5(b)=563
United Nations Participation Act, §5=564
International Emergency Economic Powers Act=564
9.36=567
9.37=567
Walker v. S.W.I.F.T. SCRL=567
c. Effects of Economic Sanctions on International Banking=568
9.38=568
Principles of Bank Regulation / Michael P. Malloy=568
9.39. The Nusquami Assets Control Regulations=576
9.40=581
Libyan Arab Foreign Bank v. Bankers Trust Company=581
9.41=586
9.42=586
9.43=587
9.44=587
d. Sanctions and Terrorism=587
1. Presidential Emergency Action=587
2. U.N. Security Council Action=588
3. Implications for Transborder Banking=589
4. USA PATRIOT Act and Financial Services=590
a. Interpretive Issues=591
b. Administrative Implementation=593
9.45=593
9.46=593
Board of Governors of the Federal Reserve System, 12 C.F.R. pt. 211=594
Selected Bibliography=597
Index=611