About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

41 St. Louis U. L.J. 125 (1996-1997)
Applying Equilibrium Theory and the FICAS Model: A Case Study of Capital Adequacy and Currency Trading

handle is hein.journals/stlulj41 and id is 135 raw text is: APPLYING EQUILIBRIUM THEORY AND THE FICAS MODEL: A CASE STUDY OF CAPITAL ADEQUACY AND CURRENCY TRADING RAJ BHALA* I. INTRODUCTION A. Equilibrium Theory In Brief Is international banking law in a state of chaos? Or, is the law moving to- ward a stable dynamic equilibrium? I address these issues in the present article by applying a theory of equilibrium developed in my article Equilibrium The- * Copyright 1996, Raj Bhala. Visiting Professor, Duke Law School, spring 1996. Asso- ciate Professor, School of Law, William and Mary. Attorney, Federal Reserve Bank of New York, 1989-93. A.B., 1984, Duke; M.Sc., 1985, London School of Economics; M.Sc., 1986, Ox- ford University; J.D., 1989, Harvard Law School. I am grateful to the Duke Law School faculty for the many helpful comments and sug- gestions they offered on an earlier draft of this article presented at a workshop on February 6, 1996. 1 am also grateful to the following scholars and practitioners for their reviews of earlier drafts: Professor Peter Alces, William and Mary Law School; Lawrence G. Baxter, Esq., Senior Vice President and Special Counsel for Strategic Development, Wachovia, Winston-Salem, N.C.; Jagdeep S. Bhandari, Scaife Professor, Duquesne Law School; Jacques Longerstaey, Risk Management Services, J.P. Morgan, New York; Barbara Matthews, Esq., Banking Advisor and Regulatory Counsel, Institute of International Finance, Washington, D.C.; Linda A. Malone, Marshall-Wythe Foundation Professor, William and Mary Law School; Hal S. Scott, Nomura Professor of International Financial Systems, Harvard Law School; George Seeberger, Esq., Winston and Strawn, New York; Professor Connie Wagner, Saint. Louis University Law School; and Karen Walraven, Esq., Vice President and Associate Counsel, Government Securities Clearing Corporation, New York. In addition, I am indebted to certain practitioners who pro- vided helpful comments on earlier drafts but who I am unable to acknowledge by name because of their client relationships and the controversial nature of positions taken in this article. Of course, all views expressed in this article are mine. Finally, I would like to thank my excellent research assistants at William and Mary for their help: Ms. Heather Anderson, Class of 1998; Mr. James Cady, Class of 1996, Mr. Stephen P. Diamond, Jr., Class of 1998; Mr. Matthew Kaiser, Class of 1998; Ms. Susan L. Ludi, Class of 1997, Ms, Michelle LaRose, Class of 1997; and Mr. Ramsey Taylor, Class of 1996.

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Short-term subscription options include 24 hours, 48 hours, or 1 week to HeinOnline.

Purchase Access

Contact us for annual subscription options:

Contact Us

Already a HeinOnline Subscriber?

Log In

profiles profiles most