ABSTRACT
‘Many banking practices are a response to regulation and would not exist if banking were unregulated.’ (Fischer Black, ‘Bank Funds Management in an Efficient Market’, Journal of Financial Economics, vol.2 (1975), p.324.)
‘Many banking practices are a response to regulation and would not exist if banking were unregulated.’ (Fischer Black, ‘Bank Funds Management in an Efficient Market’, Journal of Financial Economics, vol.2 (1975), p.324.)