Towards a Safer World of Banking

In 2007, the world economy was hit by a banking crisis which originated in the US. It is yet to recover fully from the impact of the crisis. This book seeks to address issues thrown up by the banking crisis, better known as the sub-prime crisis: Why do banking crises happen so often and why is their impact so severe? What were the main causes of the sub-prime crisis? In terms of bank regulation, what steps have been taken to prevent such crises in the future and make banking safer? Is banking today indeed safer than in 2007? If not, what are the issues that remain to be addressed in regulatory terms? The book is aimed primarily at students of business management, economics and international economics and at bank executives. The objective is to help them understand the sub-prime crisis, why it is so important to make banking safer, where the banking sector was in 2007 and where it is now. It should also be of interest to general readers who are curious to know what the sub-prime crisis was all about.