Paget's Law of Banking

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Description
It is doubtful whether at any stage during the long history of Paget on Banking, first published in 1904, the field of banking law has been subject to as many important changes as have been seen in the first years of this Century, many of which have occurred since the publication of the 13th Edition seven years ago. In former times, banking lawyers inhabited a world that was substantially encompassed by the statutory codification of case law relating to cheques (the Bills of Exchange Act 1882) and by the rules and implied terms that emerged from decided cases. Recently, however, the Legislature has enclosed that world with statute and regulation, with which practitioners need to be familiar. Such a familiarity can be hard won: a proper understanding of banking law often now requires regard to overlapping tiers of law as much of the relevant legislation is layered, originating in EU directives, implemented in the United Kingdom by domestic legislation and sometimes supplemented by regulatory rules and guidance. As new areas of banking commerce have developed, it is the Legislature rather than the Courts that has responded to these changes by setting the standards required of those participating; for example, by the Payment Services Regulations 2009, which implement the Payment Services Directive and regulate the field of electronic payment systems; and by the various regulatory 'conduct of business' rules applicable to the sale of financial products such as structured notes and derivatives. Another development that has come to the fore over the last few years is the proliferation of the bodies before which banks can be accountable. When it comes to applying the law relating to banks, today's practitioner is not confined to litigation before the courts. Enforcement of rights and obligations is undertaken by the regulators, which are ever more assiduous in requiring banks to remedy their own mistakes, and by the Financial Services Ombudsman, whose jurisdiction has been increased to £150,000, and which now represents the first port of call for most cases under that limit. In general, therefore, banks find themselves legally accountable in more ways than at any former time.
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Contents
Part I – The Regulatory Framework
Chapter 1.    The Regulation of Banks
Chapter 2.    Money Laundering
Chapter 3.    Protecting and Disclosing Information
Part II - Banks and Customers
Chapter 4.    The Relationship and Contract of Banker and Customer
Chapter 5.    Types of Account
Chapter 6.    Special Customers
Chapter 7.    Safe Custody
Part III - Bank Lending
Chapter 8.    Loans: Demand, Interest, Charges and Costs
Chapter 9.    Consumer Credit
Chapter 10.  Appropriation of Payments
Chapter 11.  Tiers of Lending
Chapter 12.  Syndicated Lending
Part IV - Security
Chapter 13.  The Taking of Security
Chapter 14.  Lien and Set-Off
Chapter 15.  Non-Possessory Security, Floating Charges and Financial Collateral
Chapter 16.  Pledges of Goods, Documents of Title and Negotiable Instruments
Chapter 17.  Mortgages of Land
Chapter 18.  Guarantees
Part V - Customer Insolvency
Chapter 19.  Insolvency Jurisdiction
Chapter 20.  Corporate Insolvency
Chapter 21.  Personal Insolvency
Part VI – Payments
Chapter 22.  The Paying Bank: Obligations Between Bank and Customer
Chapter 23.  Unauthorised Payments
Chapter 24.  The Payment Service Regulations 2009
Chapter 25.  Electronic Payment Systems
Chapter 26.  Cheques
Chapter 27.  Cheques and Conversion
Chapter 28.  Restitution, Proprietary Claims, and Tracing
Part VII - Investments and Financial Products
Chapter 29.  Advising on Financial Products
Chapter 30.  Retail Derivates
Part VIII - Interference by Third Parties
Chapter 31.  Attachment
Chapter 32.  Freezing Injunctions
Chapter 33.  Compulsory Disclosure
Part IX – Letters of Credit and Performance Bonds
Chapter 34.  Demand Guarantees and Performance Bonds
Chapter 35.  Documentary Credits: General
Chapter 36.  Documentary Credits: The Presentation, Examination and Rejection of Documents
Chapter 37.  Documentary Credits: Compliance of Documents
Appendix
Index
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