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Category Archives: Financial System

EIA – Saudi Arabi Country Analysis Brief

Saudi Arabia has 16% of the world’s proved oil reserves, is the largest exporter of total petroleum liquids in the world, and maintains the world’s largest crude oil production capacity. Saudi Arabia is the world’s largest holder of crude oil proved reserves and was the largest exporter of total petroleum liquids in 2013. In 2013, Saudi Arabia was the world’s second-largest petroleum liquids producer behind the United States and was the world’s second-largest crude oil producer behind Russia. Saudi Arabia’s economy remains heavily dependent on petroleum. Petroleum exports accounted for 85% of total Saudi export revenues in 2013, according to the Organization of the Petroleum Exporting Countries (OPEC)’s Annual Statistical Bulletin 2014. With the largest oil projects nearing completion, Saudi Arabia is expanding its natural gas, refining, petrochemicals, and electric power industries. Saudi Arabia’s oil and natural gas operations are dominated by Saudi Aramco, the national oil and gas company and the world’s largest oil company in terms of production. Saudi Arabia’s Ministry of Petroleum and Mineral Resources and the Supreme Council for Petroleum and Minerals have oversight of the oil and natural gas sector and Saudi Aramco.”

H.R. 4387, FSOC Transparency and Accountability Act

CBO – As ordered reported by the House Committee on Financial Services on June 20, 2014 “H.R. 4387 would allow all members of the governing bodies of certain agencies that are represented on the Financial Stability Oversight Council (FSOC)—the Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), the Board of Governors ofContinue Reading

Retirement Plan Landscape Stabilizing as Fewer Fortune 500 Companies Shifting Defined Benefit Plans to 401(k)s

News release: “The retirement plan landscape is stabilizing as fewer U.S. companies last year moved from defined benefit (DB) plans to offering only a defined contribution (DC) plan to new salaried employees than in any other year over the past decade, according to a new analysis by global professional services company Towers Watson (NYSE, NASDAQ:Continue Reading

New GAO Reports – Broadcast TV and Radio, FSOC, Land Use Agreements

BROADCAST TELEVISION AND RADIO: Disclosure Requirements for Broadcasted Content, GAO-14-738: Published: Sep 17, 2014. Publicly Released: Sep 17, 2014. FINANCIAL STABILITY OVERSIGHT COUNCIL: Status of Efforts to Improve Transparency, Accountability, and Collaboration, GAO-14-873T: Published: Sep 17, 2014. Publicly Released: Sep 17, 2014. LAND-USE AGREEMENTS: Department of Veterans Affairs Needs to Improve Data Reliability and Monitoring, GAO-14-501: Published: Aug 18, 2014. Publicly Released: Sep 17,Continue Reading

Income, Poverty and Health Insurance Coverage in the U.S.: 2013

“The U.S. Census Bureau announced today that in 2013, the poverty rate declined from the previous year for the first time since 2006, while there was no statistically significant change in either the number of people living in poverty or real median household income. In addition, the poverty rate for children under 18 declined fromContinue Reading

BIS Quarterly Review September 2014

The BIS Quarterly Review for September 2014 says volatility stirs, markets unshaken. Press Release 14 September 2014 Related information - Notations used in the Quarterly Review Statistical data Statistical data behind all September 2014 Quarterly Review graphs (xls) Statistical annex: summary tables (PDF, 20 pages) Statistical annex: detailed tables (PDF, 152 pages) International banking statistics

Basel III Monitoring Report as of 31 December 2013

“This report presents the results of the Basel Committee’s Basel III monitoring exercise. The study is based on the rigorous reporting process set up by the Committee to periodically review the implications of the Basel III standards for banks. The results of previous exercises in this series were published in March 2014, September 2013, March 2013, September 2012 and April 2012. A totalContinue Reading

New GAO Reports – 8(a) subcontracting, Healthcare.gov, Health Insurance Exchanges, IRAs

8(A) SUBCONTRACTING LIMITATIONS: Continued Noncompliance with Monitoring Requirements Signals Need for Regulatory Change, GAO-14-706: Published: Sep 16, 2014. Publicly Released: Sep 16, 2014. HEALTHCARE.GOV: Actions Needed to Address Weaknesses in Information Security and Privacy Controls, GAO-14-730: Published: Sep 16, 2014. Publicly Released: Sep 16, 2014. HEALTH INSURANCE EXCHANGES: Coverage of Non-excepted Abortion Services by Qualified Health Plans, GAO-14-742R: Published: Sep 15, 2014. Publicly Released:Continue Reading

Global growth continuing at a moderate pace, OECD says

“A moderate expansion is underway in most major advanced and emerging economies, but growth remains weak in the euro area, which runs the risk of prolonged stagnation if further steps are not taken to boost demand, according to the OECD’s latest Interim Economic Assessment. While the global recovery continues at a moderate rate, the outlook is uneven acrossContinue Reading

Presentations about the Budget Outlook – CBO

Doug Elmendorf, CBO Director, at the Macroeconomic Advisers’ 24th Annual Washington Policy Seminar: “I was very pleased to speak last week at Macroeconomic Advisers’ Washington Policy Seminar and at Cornell University. (See my slides for the first talk and my slides for the second talk.) In both presentations I described CBO’s updated outlook for the federal budget under current lawContinue Reading

Bridging the Disconnect – New York City is facing a youth unemployment crisis

“New York City is facing a youth employment crisis, with unprecedented numbers of young people reaching adulthood without the skills or experiences to secure career-track jobs that pay a living wage. Since 2000, the percentage of 16 to 24 year olds across the five boroughs participating in the labor market has fallen from 45 percentContinue Reading

The Astonishing Story of the Federal Reserve on 9-11

Daily Koz, ‘Arliss Bunny‘: “It is impossible for me to begin to write anything about the events of 9-11 without first bowing my head and taking a moment of silence in remembrance of all those who died and the grief which still lives on in the soul of our nation. Since I will be writingContinue Reading