Universally local

Article Abstract:

Universal banking has not been achieved on a global scale, and no bank has resources to offer all types of services worldwide. Regulations also constrain banks' activities and this is true of the US which is the largest market in the world. No bank is allowed to set up branches in every US state. There is also a legal division between commercial banking and investment banking. Insurers and other interest groups aim to prevent banks from entering their activities, and scandals such as that relating to Daiwa Bank hinder progress toward change.

Banking Institutions, Depository Credit Intermediation, DEPOSITORY INSTITUTIONS, United States, Analysis, Laws, regulations and rules, Financial services industry, Financial services, Banks (Finance), Universal banks

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Passing grade: Seoul weans itself from the World Bank

Article Abstract:

South Korea on March 3 1995 made its final two loan agreements with the World Bank 33 years after it first borrowed money there. It is the first large developing country to graduate from borrower to donor with the bank, though 25 already-developed nations have done so. Throughout their relationship the World Bank projected S Korea could not reach the World Bank's economic targets, and was usually proven wrong. Now it holds the country up as a model of development. Per-capita income has risen to $8000 from $85 in the early 1960s.

Intnl Banking Services, International Trade Financing, South Korea, Economic aspects, International relations, World Bank, South Korean foreign relations, International banking

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New miracle needed

Article Abstract:

Most of Asia's banking sector badly lags industry, thanks to government controls and favoritism for other sectors. The World Bank is concerned that without more and faster reform, that could slow growth. It wants to see Asia focus on financial reform, especially long-term debt markets; find ways to pay for an estimated $1.5 trillion in infrastructure projects through 2005, and finance new social-security systems. Local savings and foreign investment can pay for those, but inefficient financial systems will exert a huge drag.

Capital market, Capital markets, Asia

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