Banking and Finance law assignment essay help online is a common subject search especially to those studying banking and finance in the university. Banking and finance law is not exceptionally different from the law of contract or tort. It can simply be defined as a set of rules and legal principles that govern the relationship between a financial institution and the customer and the banking transactions as well.
Normally, the government establishes banking regulations which govern the manner in which banks operate. These regulations are made up of restrictions, requirements and regulations among other standards that outline the manner in which banks are supposed to operate in the economy. These regulations helps in ensuring transparency in customer transaction and prevents customer exploitation as well. Business finance law helps different parties understand their rights when dealing with financial institutions. This field is compulsory for every student pursuing business and finance as a course. You can always get banking and finance law assignment essay help online by visiting US Academic writers.
Objectives of banking and finance regulations
- Helps in reducing the risk in which banks credits are exposed.
- Reduces the risk of fraud and or criminal activities aimed and defrauding the bank.
- Aimed at protecting the customer confidentiality.
- Outlines the rules of corporate social responsibility engagement
Commercial banks are require to maintain a given minimum deposit with the central bank to be allowed to operate. This amount also referred to as minimum capital ratio safeguard the deposits against certain liabilities.
Commercial banks have to obtain operating license from the regulator; in this case the central bank. The central bank supervises the bank activities in accordance to the licence issued. In case the bank flaunts the laid regulations, the central bank has the authority to take the necessary displinary measure including the withdrawal of the licence.
Central bank also requires that commercial banks disclose important information to lenders and borrowers which will guide them in making decision.
Financial reporting disclosure
Banks are required by law to publish its financial reports in the national gazette at the end of each financial year. This is to aid the public whith the correct information when trading with stocks of banks.
Banks are required to indicate credit according to the rating requirement stated by the central bank of a country. The banks are required to maintain a certain credit rating and should disclose the current credit rating to investors.
Bank should always make private use of the customer information provided and prevent it from third party. They are required to state the terms and policy statement whenever dealing with personal information.
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