Purpose – The purpose of this paper is to investigate the effects of crop insurance premiums being determined by small samples of yields that are spatially correlated. If spatial autocorrelation and small sample size are not properly accounted for in premium ratings, the premium rates may...

Purpose – This paper seeks to describe the recent SEC Roundtable on Money Market Funds and Systemic Risk and the context behind the roundtable. Design/methodology/approach – The paper discusses the SEC's roundtable on money market funds. Context to the roundtable is provided by describing...

Purpose – To discuss and interpret the recently published summary of the select priorities of the SEC’s Office of Compliance Inspections and Examinations (“OCIE”) in connection with the National Exam Program for 2015. Design/methodology/approach – This article highlights the broad OCIE...

The volume is a collection of articles based on presentations given at a conference titled "Too Big to Fail III: Structural Reform Proposals - Should We Break Up the Banks ?" hosted by the Institute for Law and Finance on January 21, 2014 - the third session of a series on the topic "too big to...

Many empirical studies of banking crises have employed ""banking crisis"" (BC) indicators constructedusing primarily information on government actions undertaken in response to bank distress. Weformulate a simple theoretical model of a banking industry which we use to identify and...

This paper examines several key global market conditions, such as a proxy for market uncertainty and measures of interbank funding stress, to assess financial volatility and the likelihood of crisis. Using Markov regime-switching techniques, it shows that the Lehman Brothers failure was a...

Intro -- Systemic Risk -- Preface -- Acknowledgements -- Contents -- List of Figures -- List of Tables -- List of Boxes -- 1 Introduction -- References -- 2 Systemic Risk and the Financial System -- 2.1 Reasons for Adopting Broader Definitions of Systemic Risk -- 2.2 Reasons for Narrowing the...

This paper presents a new database on the timing of systemic banking crises and policy responses to resolve them. The database covers the universe of systemic banking crises for the period 1970-2007, with detailed data on crisis containment and resolution policies for 42 crisis episodes, and...

Purpose – The purpose of this paper is to examine the extent of systemic risk and competition in over‐the‐counter (OTC) derivatives dealing. Using derivatives‐related failures during the 1990s, the authors draw conclusions that are pertinent to the recent financial market turmoil...