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Daily Archives: June 14, 2013

EPIC – European Commissioner Asks Attorney General to Explain US Spying

“European Justice Commissioner Viviane Reding has demanded that U.S. Attorney General Eric Holder explain the scope of US data collection about EU citizens. “Direct access of US law enforcement to the data of EU citizens on servers of US companies should be excluded unless in clearly defined, exceptional and judicially reviewable situations,” the Commissioner wrote. The Commissioner’s request is similar to that made by other European officials, such as German Justice Minister Sabine Leutheusser-Schnarrenberger, who also stated that “all facts must be put on the table.” Recent reports indicate that United States lobbied the European Commission to weaken a comprehensive data protection law now pending in the European Parliament. Earlier this year, EPIC joined a coalition of leading US consumer and civil liberties organizations that expressed concern about the role of US officials in the development of European privacy law. The letter stated that “without exception,” members of the European Parliament reported that the US government was “mounting an unprecedented lobbying campaign to limit the protections that European law would provide.” For more information, see EPIC: EU Data Protection Regulation.”

New GAO Reports –

CHEMICAL REGULATION Observations on the Toxic Substances Control Act and EPA Implementation, GAO-13-696T, Jun 13, 2013 EXPORT-IMPORT BANK Recent Growth Underscores Need for Improved Risk Management and Reporting, GAO-13-703T, Jun 13, 2013 FEDERAL JUDICIARY Efforts to Consolidate and Share Services between District and Bankruptcy Clerks’ Offices  GAO-13-531, Jun 13, 2013 FINANCIAL INSTITUTIONS Causes and Consequences of Recent Community Bank Failures, GAO-13-704T, Jun 13,Continue Reading

UK – Economic shocks research: a report to the Department for Business, Innovation and Skills

Economic shocks research: a report to the Department for Business, Innovation and Skills, Research on whether and how government should act in response to economic shocks, Ref: BIS/13/856, 14 June 2013 “The Department for Business, Innovation and Skills (BIS) commissioned SQW and Coventry University Business School to undertake research into economic shocks. The study defines economic shocks as instancesContinue Reading

RAND Report – Hedge Funds, Systemic Risk, and Dodd-Frank

Hedge Funds, Systemic Risk, and Dodd-Frank - The Road Ahead,  Lloyd Dixon, Noreen Clancy, Krishna B. Kumar 2013 “These proceedings summarize the key themes and issues raised during a symposium on September 24, 2012, hosted by the RAND Center for Corporate Ethics and Governance. Discussion focused on the ways in which hedge funds might contribute to systemic risk andContinue Reading

IMF – Bank Leverage and Monetary Policy’s Risk-Taking Channel: Evidence from the United States

Bank Leverage and Monetary Policy’s Risk-Taking Channel: Evidence from the United States, Dell’Ariccia, Giovanni; Laeven, Luc; Suarez, Gustavo, June 6, 2013. “We present evidence of a risk-taking channel of monetary policy for the U.S. banking system. We use confidential data on the internal ratings of U.S. banks on loans to businesses over the period 1997 toContinue Reading