In the wake of the financial crisis, the Dodd-Frank Act established the Financial Stability Oversight Council (FSOC) and the Office of Financial Research (OFR) to address the concern that policymakers lacked sufficient data to anticipate emerging threats to financial stability. Although most...

<DIV>The U.S. government is the world’s largest financial institution, providing credit and assuming risk through diverse activities. But the potential cost and risk of these actions and obligations remain poorly understood and only partially measured. Government budgetary and financial accounting...</div>

The federal government makes subsidized federal financing for higher education widely available. The extent of the subsidy varies over time with interest rate and credit market conditions. A loan provision that adds considerably to the size and volatility of the subsidy is the consolidation...

This paper provides more detail about the methods used in the Congressional Budget Office (CBO) study, “Estimating Subsidies for Federal Loans and Guarantees,” (August 2004). That study estimates the market value of loans and loan guarantees under both credit reform and risk-adjusted...

The federal government makes low-cost financing for higher education widely available through its fast-growing direct and guaranteed student loan programs. Both programs offer borrowers similar loan products and terms. From the perspective of other key stakeholders, including educational...

The federal government makes subsidized federal financing for higher education widely available. The extent of the subsidy varies over time with interest rate and credit market conditions. A loan provision that has added considerably to the size and volatility of the subsidy is the consolidation...

In April of 2013, the Pension Research Council of the Wharton School at the University of Pennsylvania convened a Technical Review Panel, comprising ten experts whose task it was to review the Pension Benefit Guaranty Corporation’s (PBGC) Pension Insurance Modeling System (PIMS), including...

type="main" xml:id="ecop12034-abs-0001" <title type="main">Summary</title> <p>Governments throughout the OECD allocate a large share of societies' capital and risk through their credit-related activities. Hence, accurate cost estimates for credit support programmes are a prerequisite for efficient resource allocation,...</p>

“Toxic waste” refers to the riskiest derivative structures arising from collateralized mortgage obligations (CMOs). We use simulations to predict how this risk would manifest itself in various interest rate environments. We also look for evidence on the total dollar value of these...