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We study settlement fails for trades in the Government of Canada bond market. We find that settlement fails do not occur independently. Using a novel and comprehensive dataset, we examine three drivers of fails. First, we find that fails are more likely following the release of surprise...
Persistent link: https://www.econbiz.de/10011777849
After the 2008 financial crisis, policymakers focused on enacting improvements in two areas of financial regulation: capital and liquidity, affecting the composition of bank assets and the sources of bank funding. These improvements made both the emergence of a crisis less likely and the...
Persistent link: https://www.econbiz.de/10012848101
Many countries around the world have experienced banking crises in the past two decades, and all countries are …
Persistent link: https://www.econbiz.de/10013112112
than an arsenal of weapons of mass destruction. The U.S. media covers fear stories of some dictators around the world, and …, the World Bank, Bank for International Settlements, and the United Nation to maintain exorbitant privilege and dollar … superpowers in a bipolar world; waged war against Iraq (Persian Gulf War in 1991 and Iraq War in 2003) to free the country and the …
Persistent link: https://www.econbiz.de/10014348761
An anonymous credential mechanism is a set of protocols that allows users to obtain credentials from an organization and demonstrate ownership of these credentials without compromising users' privacy. In this work, we construct the first secret-free and quantum-safe credential mechanism. The...
Persistent link: https://www.econbiz.de/10014456631
We examined the net-zero commitments made by Global Systemically Important Banks (G-SIBs). In recent years, large banks have significantly increased their ambition and now disclose more details regarding their net-zero targets. There is also growing convergence, with the vast majority of G-SIBs...
Persistent link: https://www.econbiz.de/10014439047
Federal banking regulators are grappling with how to confront the threats posed by climate change. There are increasingly loud calls for regulators to adjust the “risk-weights” used to calculate banks’ minimum capital requirements based on how exposed their counterparties are to...
Persistent link: https://www.econbiz.de/10014257201
This article explains the roots of financial crises in one of the oldest and most fundamental problems of commercial law: hidden leverage. Common law courts wrestled with this problem for centuries and developed a time – tested solution: the doctrine of secret liens. If the debtor becomes...
Persistent link: https://www.econbiz.de/10013142417
Much progress has been made in reducing settlement risk in foreign exchange markets, particularly through use of CLS Bank. However, the remaining exposures are sometimes still significantly large and not always well managed, creating the potential for systemic risk. To address this problem, it...
Persistent link: https://www.econbiz.de/10013095309
Central banks play a crucial role in promoting financial stability. They act as financial system stabilizers through their capacity to create liquidity and channel it to financial institutions and markets in times of stress - a role that has evolved and expanded substantially over the past 15...
Persistent link: https://www.econbiz.de/10014577846