This timely collection of papers probes into the major issues that are at the heart of our current financial market crises. It covers banking topics including the changing nature of intra and inter-bank markets, and banking with respect to bank lending behavior, risk and risk-taking, the role of liquidity, return and maturity transformation issues. Issues on international financial market volatility and spillover effects are analyzed in detail, and intense discussions on capital adequacy and regulation in banking, and the potential role of banks' activities in the triggering of financial crise.