Course Catalogue

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The course will cover the definition of a bank, and key bank functions, an outline of banking regulation, an outline of central banking (in this context an outline of central bank-issued money (cash) and central bank money), the nature of the bank-customer relationship including the duty of care, issues of fiduciary relationship, confidentiality, bank accounts, payment systems (money transfer, outline of clearing), digital payment and open banking (including key regulatory developments and market trends, cryptocurrencies), adoption of AI-technology in banking business operations (and banking regulation and technology regulation), lending and securitisation (term loans and syndications), security and finance collateral (including fixed/floating charges, mortgages, repos), trade finance (documentary credit, letters of credit, bank guaranties). These are broad themes and may change to some extent according to lecturers' decisions each year.

10 x 2-hour seminars.

This course is available to LLB students (Scots Law and Common Law) and visiting students.

None.

None.

Assessment 1 (25% - Essay) 

One essay of 1,500 words worth 25%, this essay is summative essay, with a formative purpose (so the summative essay will also serve as a form of formative assessment), and is a part of the overall summative assessment.

Assessment 2 (75% - Take Home Exam) 

One examination in the December diet worth 75% of the overall grade. This is an open book exam to be submitted within 72 hours after the exam paper having been made available to students.

The knowledge-based aims of the course are to: ·

■ Provide a critical understanding of the concept of banking, what the institution of a bank is, the bank-customer relationship, and an outline of central banking

■ Enable students to analyse digital payment systems, aspects of open banking, and the use of AI-technology in banking business operations

■ Familiarise students with lending and securitisation and finance collateral

It also aims to encourage and enable students to:

■ take responsibility for effective individual and group discussion and problem-solving exercises

■ develop research and problem-solving skills

■ develop their skills of critical analysis and reasoning, both oral and written

By the end of this course students will be able to:

■ demonstrate an understanding of what a bank is and does

■ explain and critically analyse the general principles of the bank-customer relationship

■ demonstrate an understanding of central banking

■ explain what digital payment systems are, and demonstrate an understanding of open banking systems · explain payment systems

■ identify and explain new forms of money (e.g. digital currencies)

■ analyse critically the wider implications of use of AI-technology in banking business operations

■ demonstrate an understanding of lending and securitisation, financial collateral, and lending practices of banks

■ demonstrate the ability to discuss key topics of trade finance, such as documentary credit or bank guarantees

■ evaluate and provide meaningful and informed comment on reform debates.