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In remarks at a meeting of the Joint Economic Committee, President Charles I. Plosser discussed the importance of implementing regulatory changes that would help to avert financial crises in the future.
Persistent link: https://www.econbiz.de/10010727147
In a letter to senators in the Philadelphia Fed District, President Charles I. Plosser stressed that financial reform should avoid changes that would impede the Fed's ability to meet its congressionally mandated objectives.
Persistent link: https://www.econbiz.de/10010727165
Superseded by Working Paper 15-20. Monetary economists have long recognized a tension between the benefits of fractional reserve banking, such as the ability to undertake more profitable (long-term) investment opportunities, and the difficulties associated with fractional reserve banking, such...
Persistent link: https://www.econbiz.de/10011262941
This paper conducts an in-depth analysis of structured finance asset-backed securities collateralized debt obligations (SF ABS CDOs), the subset of CDOs that traded on the ABS CDO desks at the major investment banks and were a major contributor to the global financial panic of August 2007....
Persistent link: https://www.econbiz.de/10009216225
Earlier studies found little evidence of scale economies at large banks; later studies using data from the 1990s uncovered such evidence, providing a rationale for very large banks seen worldwide. Using more recent data, the authors estimate scale economies using two production models. The...
Persistent link: https://www.econbiz.de/10009216228
The authors examine investors' reactions to announcements of large seasoned equity offerings (SEOs) by U.S. financial institutions (FIs) from 2000 to 2009. These offerings include market infusions as well as injections of government capital under the Troubled Asset Relief Program (TARP). The...
Persistent link: https://www.econbiz.de/10009320870
The authors show that the regulation of bank lending practices is necessary for the optimal provision of private liquidity. In an environment in which bankers cannot commit to repay their creditors, the authors show that neither an unregulated banking system nor narrow banking can provide the...
Persistent link: https://www.econbiz.de/10010551331
Self regulation encouraged by market discipline constitutes a key component of Basel II’s third pillar. But high-risk investment strategies may maximize the expected value of some banks. In these cases, does market discipline encourage risk-taking that undermines bank stability in economic...
Persistent link: https://www.econbiz.de/10010552111
Presented by Charles I. Plosser, President and Chief Executive Officer, Federal Reserve Bank of Philadelphia Financial Interdependence in the World's Post-Crisis Capital Markets, Presented by the Global Interdependence Center (GIC) in partnership with the Philadelphia Council for Business...
Persistent link: https://www.econbiz.de/10010727100
Presented by Charles I. Plosser, President and Chief Executive Officer, Federal Reserve Bank of Philadelphia> 2010 European Banking & Financial Forum, Czech National Bank, Prague, The Czech Republic, March 23, 2010
Persistent link: https://www.econbiz.de/10010727101