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swaps formally “assigned” to the U.S. banks’ newly “de- guaranteed” foreign subsidiaries with the accompanying claim that …/or financial calamity caused by poorly regulated swaps on the books of big U.S. banks. This paper notes that the relevant statutory …
Persistent link: https://www.econbiz.de/10014112182
the US than in Europe. We also find that remuneration practices at large US banks are strongly converging towards the … at large banks generally converge, whilst the framework is more divergent when considering banks that are less complex …
Persistent link: https://www.econbiz.de/10013091649
segments. 5) Additional lending increases leverage in the financial system and fuels a boom in an asset market. 6) Asset prices … Fannie Mae) and sponsors of “private label” mortgage-backed securities; Commercial and investment banks with respect to the … Glass-Steagall repeal; and Banks and hedge funds with respect to OTC derivatives. The model would support the premises of …
Persistent link: https://www.econbiz.de/10013148106
identify feedback loops, the European Systemic Risk Board has developed macroprudential surveys that ask banks and insurers how …, potentially undoing the initial effects of banks' remedial actions by worsening their solvency position. In contrast, insurers …
Persistent link: https://www.econbiz.de/10011925698
A 2012 paper by Goodhart, Kashyap, Tsomocos, and Vardoulakis (GKTV) proposes a dynamic general equilibrium framework that provides a conceptual - and to some extent quantitative - framework for the analysis of macroprudential policies. The distinguishing feature of GKTV's paper relative to any...
Persistent link: https://www.econbiz.de/10009669924
Economists have dominated U.S. scholarship about the S&L debacle and they have universally viewed the regulatory response as horrific. This paper argues that the conventional economic wisdom is badly flawed. The U.S. regulatory response to the debacle was disastrous – when economists shaped it...
Persistent link: https://www.econbiz.de/10013148988
This is a preliminary study on the status of the U.S. in the global market for derivatives-related services. We include some of the policy choices available to enhance this status. We begin with a review of the importance of active and efficient derivatives markets for the U.S. economy. We then...
Persistent link: https://www.econbiz.de/10009507015
(PSI) that emanate from a lack of predictability of outcomes, if it compels banks to issue a sufficiently sized minimum of …-runnable long-term debt, even if investors are able to gauge the relevant risk of PSI in a bank’s failure correctly at the time of …
Persistent link: https://www.econbiz.de/10011720767
securities laws to (among other things) deregulate widely held but unlisted companies and banks, to permit unregistered …
Persistent link: https://www.econbiz.de/10013117441
The financial crisis has generated a renewed interest in financial regulation as well as corporate governance more generally, among both academics and lawmakers. A large number of bills have been introduced in the Congress to address one or more aspects of corporate governance, including most...
Persistent link: https://www.econbiz.de/10013134353