The ongoing globalization of financial markets has increased the import-
ance to users of financial services, policy-makers and financial
analysts of understanding the structure and operation of banking systems
in other countries as well as that in their own country. This volume
contributes to such an understanding. The structure and operation of the
banking system are described for 10 important countries, plus the
European Economic Community, under one cover. The contributing authors
are knowledgable and widely respected experts. The author, or at least
one of the coauthors, of each chapter is a resident of the country
described. Each chapter follows a broadly similar outline, although the
attention devoted to any particular area varies substantially according
to authors' perceptions of its relative importance in the particular
country. The chapters spotlight the similarities and differences among
the structures. The volume should serve as both a handy and
authoritative reference guide for practitioners, regulators and students
of international banking. An early benefit of the book was an
international conference held in Chicago in the fall of 1989 on the
world integration of financial markets. A number of the authors of the
chapters presented brief versions of their papers. The conference was
sponsored jointly by the Federal Reserve Bank of Chicago and the
MidAmerica Institute. The audience was primarily senior officers and
regulators of financial institutions in the midwest. The conference
generated considerable interest in both the subject matter and the
contents of this book.
