The paper studies the profit distribution and portfolio management of the Swiss National Bank in comparison with the behavior of other European central banks. It is shown that the SNB's behavior is unique in a number of respects : Relatively to the countries size, it holds the largest gold...

The paper studies the profit distribution and portfolio management of the Swiss National Bank in comparison with the behavior of other European central banks.It is shown that the SNB's behavior is unique in a number of respects : Relatively to the countries size, it holds the largest gold...

The Swiss National Bank (SNB) currently holds reserves of more than 40 billion CHF. In the future she wishes to increase her reserves by about 1 billion CHF per year. The new law on the SNB must be used to make the SNB behave according to the same standards as other national banks. Her reserves...

The recent turmoil in global financial markets underscores the importance of the federal funds market as a means of distributing liquidity throughout the financial system and a tool for implementing monetary policy. In this paper, we explore the network topology of the federal funds market. We...

Nepotism, corruption, conspiratorial concealment, greed and grotesque excesses all combine with what seems to have been a complete lack of appropriate controls and regulatory oversight that eventually distorted a European Utopian banking vision beyond all recognition

Jonathan Macey's recent article quot;Commercial Banking and Democracy: The Illusive Quest for Deregulationquot; offers such a problematic argument for banking regulation that it implies such regulation is losing its intellectual foundation

As liquidity conditions in the term funding markets grew increasingly strained in late 2007, the Federal Reserve began making funds available directly to banks through a new tool, the Term Auction Facility (TAF). The TAF provides term funding on a collateralized basis, at interest rates and...