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Category Archives: Financial System

Federal Reserve Board announces enhanced supervision of large and complex banking organizations

“The Federal Reserve Board on Tuesday announced that it is implementing several recommendations to enhance the supervision of large and complex banking organizations. The recommendations were developed after an extensive review of Reserve Bank procedures for supporting consistent and sound supervisory decisions as well as methods used by Reserve Banks to resolve differing staff opinions related to the supervision of large and complex firms. While the review found that 95 percent of staff interviewed felt empowered to raise differing opinions, it noted that a formal process for raising divergent views had not been established. To address this, the Federal Reserve System in 2016 will develop policies and practices to encourage the exchange of, and response to, divergent staff views on all supervisory matters. Additionally, the review found that some supervisory teams employed sound practices and produced detailed and thorough analysis. However, the review also identified inconsistencies in documentation produced by supervisory teams and noted instances of inconsistent practices by Reserve Banks. To remedy these inconsistencies, the Operating Committee of the Large Institution Supervision Coordinating Committee (LISCC) will oversee the establishment of minimum operating and documentation standards for all supervisory activities. The Federal Reserve Banks of New York and Richmond have also added new resources to their dedicated supervisory teams to ensure consistency in their supervisory approaches. The LISCC was formed following the financial crisis and is comprised of Federal Reserve Board and Federal Reserve Bank senior staff. It coordinates the supervision of the largest, most systemically important financial institutions in the United States…”

UVA – 10 ways to map Northern Virginia

Luke Juday November 23, 2015: “As though the New Jersey suburbs were grafted onto South Carolina” is how Robert Lang of Virginia Tech’s Metropolitan Institute described Northern Virginia. Of course that’s a bit of a hyperbole. Even at the time of the Civil War, Virginia was one of the least “Southern” members of the Confederacy. Today,Continue Reading

Completion of Professional, Scientific & Technical Services

“The 2012 Economic Census concludes the Geographic Area Series for the professional, scientific and technical services sector. This series includes statistics for legal services, accounting and tax preparation, computer systems design, and advertising and public relations services. The files provide statistics on the number of establishments, receipts/revenue, payroll, number of employees and other data itemsContinue Reading

Census Report – Wives’ Earnings Make Gains Relative to Husbands’

“Between 2000 and 2015, the share of married couples where the wife earned at least $30,000 more than the husband increased from 6 to 9 percent, according to statistics released today by the U.S. Census Bureau. Married couples where the husband earned at least $30,000 more than the wife decreased from 38 to 35 percent.Continue Reading

Data enriched research, data enhanced impact: The importance of UK data infrastructure

Via London School of Economics: “The UK Data Service is trusted to manage the UK’s largest collection of UK and international social and economic research data, spanning major UK government-sponsored surveys, cross-national surveys, longitudinal studies, UK census data, international aggregate data banks, business microdata and qualitative and mixed methods data. The data in our collectionContinue Reading

WSJ shows impact of developed world’s working-age population declining next year, Greg Ip  (includes infographics) – “Ever since the global financial crisis, economists have groped for reasons to explain why growth in the U.S. and abroad has repeatedly disappointed, citing everything from fiscal austerity to the euro meltdown. They are now coming to realize that one of the stiffest headwinds is also one of theContinue Reading

Change in Household Spending After Retirement

November 2015 
EBRI Issue Brief #420 
Paperback, 20 pp. 

Employee Benefit Research Institute, 2015; Download Issue Brief PDF “Executive Summary •    This study shows how household spending changed in the immediate years following retirement by analyzing the spending patterns of a fixed group of households up to six years after their retirement. •    The dataContinue Reading

The Uncertainty of Long-Term Budget Projections

Presentation by Ben Page, CBO’s Fiscal Policy Studies Unit Chief, at the National Tax Association 108th Annual Conference on Taxation, November 20, 2015. “CBO’s long-term budget projections generally reflect current law and estimates of future economic conditions and demographic trends. Those projections depend on estimates of the future paths of mortality rates, productivity, interest rates,Continue Reading

A search-based model of the interbank money market and monetary policy implementation

A search-based model of the interbank money market and monetary policy implementation by Morten Linneman Bech and Cyril Monnet. Working Papers No 529. November 2015. Bank for International Settlements. “We present a search-based model of the interbank money market and monetary policy implementation. Banks are subject to reserve requirements and the central bank tenders reserves.Continue Reading

New and Improved Charts and Data on Auto Loans

NY Fed – A Closer Look at Auto Loans: “Today, the New York Fed announced that household debt increased by a robust $212 billion in the third quarter of 2015. Both mortgage and auto loan originations increased, as auto originations reached a ten-year high and new mortgage lending appears to have finally recovered from theContinue Reading

Financial Literacy Skills for the 21st Century

Annamaria Lusardi – Colston Warne Lecture | September 2015 “Foreward: I am delighted to be asked to give the Colston Warne Lecture at the American Council on Consumer Interests annual conference. What I want to cover in this lecture [see the article and the powerpoint] is what I consider to be one of the mostContinue Reading

PWC 2015 US CEO Survey

“For the first time in five years in PwC’s Annual Global CEO Survey, more business leaders rate the US as their most important market for overseas growth ahead of all others, including China’s. As the US recovery gains traction, it is gaining more adherents. Challenges remain, yet key measures of US economic health are improving.Continue Reading