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Category Archives: Economy

Implementation monitoring of PFMIs: Level 2 assessment report for central counterparties and trade repositories – United States

“The Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) continue to closely monitor the implementation of the Principles for financial market infrastructures (PFMI). The principles within the PFMI (the Principles) set expectations for the design and operation of key financial market infrastructures to enhance their safety and efficiencyContinue Reading

Public quantitative disclosure standards for central counterparties

Public quantitative disclosure standards for central counterparties: “To help ensure that the risks of using central counterparties (CCPs) are properly understood, CCPs need to make relevant information publicly available, as stated in the CPSS-IOSCO Principles for financial market infrastructures, published in April 2012. The CPSS and IOSCO published a Disclosure framework in December 2012 toContinue Reading

Financial Audit: U.S. Government’s Fiscal Years 2014 and 2013 Consolidated Financial Statements

Financial Audit: U.S. Government’s Fiscal Years 2014 and 2013 Consolidated Financial Statements, GAO-15-341R: Published: Feb 26, 2015. Publicly Released: Feb 26, 2015. “To operate as effectively and efficiently as possible and to make difficult decisions to address the federal government’s fiscal challenges, Congress, the administration, and federal managers must have ready access to reliable andContinue Reading

New GAO Reports – Defense Logistics, Defense Major Automated Information Systems, DHS, FAA, Private Pensions, Transportation Safety

Defense Logistics: Improvements Needed to Accurately Assess the Performance of DOD’s Materiel Distribution Pipeline, GAO-15-226: Published: Feb 26, 2015. Publicly Released: Feb 26, 2015. Defense Major Automated Information Systems: Cost and Schedule Commitments Need to Be Established Earlier, GAO-15-282: Published: Feb 26, 2015. Publicly Released: Feb 26, 2015. Department of Homeland Security: Progress Made, butContinue Reading

Supporting Immigrant Integration in Europe – What Role for Origin Countries’ Subnational Authorities?

Migration Policy Institute: “The substantial role that subnational authorities in EU Member States play in the governance of migrant integration is widely recognized. Regional and local authorities in Member States have control over the implementation and delivery of a wide array of integration-related services. However, while much is known about integration at the subnational levelContinue Reading

Locate the closest Taxpayer Assistance Center

Free Tax Return Preparation for Qualifying Taxpayers: “The Volunteer Income Tax Assistance (VITA) program offers free tax help to people who generally make $53,000 or less, persons with disabilities, the elderly and limited English speaking taxpayers who need assistance in preparing their own tax returns. IRS-certified volunteers provide free basic income tax return preparation withContinue Reading

New GAO Reports – African Growth and Opportunity Act, DOE Real Property, Fiscal Year 2016 Budget Request, Foster Care, IRS Investment

African Growth and Opportunity Act: Lessons Learned from Other Countries’ Trade Arrangements with Sub-Saharan Africa, GAO-15-393R: Published: Feb 25, 2015. Publicly Released: Feb 25, 2015. DOE Real Property: Better Data and a More Proactive Approach Needed to Facilitate Property Disposal, GAO-15-305: Published: Feb 25, 2015. Publicly Released: Feb 25, 2015. Fiscal Year 2016 Budget Request:Continue Reading

FDIC-Insured Institutions Earned $36.9 Billion in the Fourth Quarter of 2014

FDIC news release: “Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reported aggregate net income of $36.9 billion in the fourth quarter of 2014, down $2.9 billion (7.3 percent) from earnings of $39.8 billion that the industry reported a year earlier. The decline in earnings was mainly attributable to aContinue Reading

Hoard Behavior During Commodity Bubbles

de Paula, Aureo and Hong, Harrison G. and Singh, Vishal, Hoard Behavior During Commodity Bubbles (February 2015). CEPR Discussion Paper No. DP10441. Available for download at SSRN: http://ssrn.com/abstract=2569270 “Hoarding by large speculators is often blamed for contributing to commodity market panics and bubbles. Using supermarket scanner data on US household purchases during the 2008 RiceContinue Reading

Hawks and Doves at the FOMC

Eijffinger, Sylvester C. W. and Mahieu, Ronald and Raes, Louis, Hawks and Doves at the FOMC (February 2015). CEPR Discussion Paper No. DP10442. Available for download at SSRN: http://ssrn.com/abstract=2569271 “In this paper we estimate ideal points of Bank Presidents and Board Governors at the FOMC. We use stated preferences from FOMC transcipts and estimate aContinue Reading

Process Systems Engineering as a Modeling Paradigm for Analyzing Systemic Risk in Financial Networks

Office of Financial Research (OFR) Working Paper Series, February 11, 2015: “Financial instability often results from positive feedback loops intrinsic to the operation of the financial system. The challenging task of identifying, modeling, and analyzing the causes and effects of such feedback loops requires a proper systems engineering perspective lacking in the remedies proposed inContinue Reading

HBR – What Millennials Want from Work, Charted Across the World

Harvard Business Review – Henrik Bresman, February 23, 2015: “As more Millennials assume leadership positions around the world, organizations are becoming increasingly concerned with how to ensure their success. However, most existing research on those born between the early ‘80s and late ‘90s is skewed toward understanding what a narrow, typically Western, population wants. ConclusionsContinue Reading