A powerful tool to achieve equitable development is promotion of economic empowerment for marginalized citizens by increasing formal financial services access and utilization. The provision of these services via mobile phones has shown great promise in overcoming geographic, demographic, and...

For the first time in its 108-year history, the Federal Reserve System faces massive and growing mark-to-market losses and is projected to post large operating losses in the near future. In a 2011 policy statement, the Federal Reserve Board outlined its plan to monetize system operating losses...

To avoid excessive concentration of economic and financial power, Solomon recommends institutional and regulatory reform of the financial system by such means as nationwide banking, restrictions on federal deposit insurance, consolidation of financial regulation, balancing numerical standards...

This comparison of mortgage product offerings in developed countries reveals significant differences in the dominant product offerings. Countries differ in terms of the market share of adjustable versus fixed-rate mortgages, the use of pre-payment penalties, maximum term and the offering of...

China has weathered the global financial turmoil in much better shape than most other countries, including the United States. However, there been concerns that banks loosened their lending standards too much as a result of a huge stimulus, among other factors. This led to excessive lending to...

The topic of Government Sponsored Enterprise (GSE) privatization is at least two decades old. In the early 1980s, HUD studied the feasibility of privatizing Fannie Mae and Freddie Mac. In 1986, Freddie Mac's Advisory Committee (the pre-cursor to its Board of Directors) discussed the subject. In...

Despite its recognized economic and social importance, housing finance often remains underdeveloped in emerging economies. Residential lending remains small, poorly accessible, and depository-based. Lenders remain vulnerable to significant credit, liquidity, and interest rate risks. As a result,...