This textbook provides comprehensive coverage of international finance from policy, regulatory, and transactional perspectives.

It is organized in five parts. Part One deals with the international aspects of banking and securities markets in major financial centers. It covers sweeping reforms in response to the global financial crisis of 2007-2009 and the Eurozone crisis that followed, including new national and international approaches to financial stability oversight, as well as the latest regulatory relief initiatives moderating the effects of post-crisis reforms. Part Two considers the infrastructure of global financial markets, including payment, clearing and settlement systems, foreign exchange regimes, and international coordination of capital and liquidity requirements. Part Three deals with major market instruments, including securitization and derivatives contracts, and the regulation of money managers. Part Four focuses on the emerging markets, and covers project finance, debt crises, and international institutions for development finance and financial crisis response. A full chapter is devoted to China's financial reforms and its evolving role in the international financial architecture. Part Five addresses the challenge of controlling the financing of terrorism.