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This book provides a comprehensive guide on the regulatory obligations and controls related to Plan d'Épargne en Actions (PEA) in France. It discusses the statistical measures that the Banque de France must produce annually, detailing the conditions under which PEAs are managed, including declaration obligations, management duties, and advisory responsibilities. The book includes specific instructions for filling out the Imprimé Fiscal Unique (IFU) and other necessary forms, emphasizing the legal requirements for financial institutions and the consequences of non-compliance. It is intended for financial professionals and legal advisors involved in the management and regulation of PEAs.

Taxation. --- Bank investments.

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Where might the next systemic financial crisis come from? And how do we achieve financial stability in a poly crisis world? This book addresses macroeconomic factors, crypto assets, non-bank financial institutions and regulated financial service providers, keeping in mind that each sector can interact with the others to produce a cluster of risks with compounding effects.

Climate. --- Liquidity. --- Non-bank Financial Institutions. --- Polycrisis. --- Systemic Financial Crises.

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This thesis investigates the impact of monetary policy shocks on inflation expectations in the Euro Area. The relevance of this study lies in the current economic climate, where inflation has surged to levels not seen in decades, peaking at 10.7% in October 2022. We extend our analysis through late 2023, addressing a gap in literature by including the recent period of heightened inflation not yet investigated. Our research builds on the existing literature on high-frequency identification by examining financial market surprises in Overnight Index Swaps around monetary policy announcements to identify monetary policy shocks (following Altavilla et al., 2019). We then assess the impact of those shocks on inflation expectations across short, medium, and long-term horizons measured with different maturities of Inflation-Linked Swaps (ILS). Unlike traditional Vector Autoregressions (VAR), we employ Local Projections to track the impact of these shocks up to 30 days after the announcements. 
In the first block of our analysis, we find significant near-term declines in Inflation-Linked Swap rates following restrictive Target or QE shocks, in line with macroeconomic theory, while Timing and Forward Guidance shocks have mitigated effects. The second block refines these results by separating Timing and Forward Guidance shocks into Odyssean and Delphic components using the Poor Man’s Sign Restrictions of Jarociński and Karadi (2020), revealing that Odyssean Timing shocks align with theoretical expectations, while persistent positive responses to Odyssean Forward Guidance are still troubling. The third block introduces our new factor model resulting in the identification of Odyssean Timing, Odyssean Forward Guidance, and Delphic Path factors, which produce responses consistent with theory. Across all models, long-term inflation expectations do not react significantly to monetary policy shocks. This indicates a robust anchoring of long-term inflation expectations in the Euro Area, reflecting the credibility of the central bank’s commitment to maintaining price stability.

Central bank communication --- monetary policy shocks --- inflation-linked swaps --- central bank information effect --- Local Projections --- Sciences économiques & de gestion > Macroéconomie & économie monétaire

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US and global banking regulators have enforced compliance laws to minimise money laundering, terrorist funding, human trafficking, fraudulent banking activities, and bad mortgage loans that expose banks to significant risks and losses. However, many banks have complained of over-regulation. 'Compliance and Financial Crime Risk in Banks: A Practitioners Guide' investigates anti-money laundering standards, counter-terrorist financing measures that cover the Bank Secrecy Act laws, and control activities designed to mitigate breaches, such as 'prevent, detect, and monitor'. A focus group of ten senior banking finance experts was convened to build consensus on compliance practices that senior bank managers can implement to be effective in reducing losses in banks/bank holding companies. The result is the following consensus: a) Maintenance of effective and independent compliance, consistent with the organisational objectives b) Clear definition of data sources for compliance analytics c) Compliance monitoring d) Reporting activities to upper management e) Top leadership must champion their code of ethics f) Understanding the regulatory compliance activities that are effective Author Sophia Beckett Velez offers an original contribution to the field of banking that Undergraduates, Master's, Ph.D. students, academics, and researchers can use to gain a deeper understanding of compliance, and AML risks in banks, and the use of effective management practices.

Finance. --- Financial services industry --- Bank management --- Financial risk management --- Law and legislation

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A fascinating retelling of the first banking and financial collapse in eighteenth-century France. The Scottish economist John Law has been described as the architect of modern central banking. His “System,” established in Regency France between 1716 and 1720, saw the founding of a bank issuing paper money and the establishment of state commercial and colonial enterprises aimed at consolidating public debt. What at first seemed like financial wizardry, however, resulted in rampant speculation and, ultimately, economic collapse. In The Politics of Utopia, historian Arnaud Orain offers a provocative rereading of this well-known episode. Starting his story in the seventeenth century, Orain reconstructs the figures and ideas, long predating Law, that anticipated and laid the groundwork for the System, which, he argues, is best understood as a failed social utopia aimed at the total transformation of society. Overturning familiar narratives of this seismic event, this book rewrites a stunning chapter in economic history by dealing with the cultural, colonial, religious, and political dimensions of the (in)famous System up to the French Revolution, revealing new lessons for today’s fraught financial landscape.

John Law, System, Paper Money, Economic Leviathan, Bank, Louisiana, Compagnie des Indes, Propaganda.