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Banking Law Assignment Help
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Banking law is not the different area from the contract or tort. It is basically described as the regulation, various legal principles which effect upon the banking transactions and also on the banking customer relationship.
Banking regulation is the regulations which are established by the government for governing the banking system. Under the banking regulations, there are various restrictions, guidelines and requirements are stated which help the bank to act in accordance with the regulations. This regulation helps in making the transparency between various banking financial institutions and customers. Bank regulation helps the person to know about their rights and obligation of the person, about the procedure of the bank and other things which are necessary for the individual.
There are various objectives which are achieved by the bank through the bank regulations.
- Prudential helps in reducing the risk of bank credit or are exposed.
- It helps in reducing the risk of disruption.
- Helps in reducing the risk of using the bank for the criminal purpose.
- Customer confidentiality is protected.
- It provides the credit allocation safely.
- It also stated the rules regarding the corporate social responsibility
Banks have to maintain the minimum capital ratio, which is prescribed by the central bank. It helps in achieving the objective of the regulations.
Banks have to take the license for operating the business of banks by the regulator. Regulator gives the direction and guidance according to which the bank has to act. Banks are under the compliance to follow the guidance, fulfill the requirement if they will not act according to the regulatory guidance then it will be a breach of the requirements. The regulator is under the duty to impose penalty, giving direction and also revoked the license if they breach the terms and conditions.
The regulator also requires disclosing the public about the financial information and other information in the market through which the creditors and depositors are able to use the information.
Benefits of banking law
- It helps in selling, improving, managing, exchanging, leasing of property and other matters.
- It deals with the other business which is mentioned under the official gazette by the government.
- It undertakes and executed the trust.
- It deals with the shares, debenture shares of the company
- It deals with the loan of the company and any individual.
Instruments and requirements of bank regulation
In capital requirement a framework is set out which stated that how the bank will manage their capital in relations to the assets. Each country bank has to maintain the capital requirement in the bank, which is influenced internationally by the Bank for International Settlements Basel Committee on Banking Supervision. This committee also decided in 1988 that they introduced the capital measurement system.
It is necessary for each bank that they have to maintain the reserve requirement. Central bank sets the reserve requirement which is held by each and every bank of the country. But in many countries, there is no reserve ratio for maintaining the reserving requirement. The main purpose of maintaining the reserve requirement is providing liquidity rather than the safety. In Hong Kong banks have to maintain the 25% of their liability which is due on demand or within the 1 month.
Corporate governance is that which helps in encouraging the bank objective and helps to maintain the bank and indirect way it achieves the objective of the bank. As many banks have the various divisions and are relatively large in size, so it is difficult to maintain them in proper manner. So from the corporate governance they can manage the banks. Some requirements which can include:
- The Body must be a corporate body, it is not in the individual, partnership trust etc.
- They have the minimum number of directors.
- Must have the organizational structure which includes offices.
- Must have the constitution contained the article which is approved.
Financial reporting and disclosure requirements
The main and foremost important bank regulation which is used in the banks is the financial reporting and disclosure requirements. It is more important for the banks, which are used in trading on the public market. In the US they have to maintain the annual financial statement which is according to the financial reporting standard and it is required under the Securities and Exchange Commission. The SEC also requires the bank that they make accurate financial disclosures.
Credit rating requirement
The credit rating requirement is that in which the bank has to give the credit according to the rating requirement which is prescribed by the central bank of the country. Banks are required to maintain the current credit requirement and have to disclose to all the investors.
The regulation also stated the rules through which the bank makes privacy in the use of the customer personal data. Banks and other financial institution have to disclose their terms and policy in regards their personal information.