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Category Archives: Financial System

Statistics on payment, clearing and settlement systems in the CPMI countries – Figures for 2013 – preliminary release

“This is an annual publication that provides data on payments and payment, clearing and settlement systems in the CPMI countries. This version of the statistical update contains data for 2013 and earlier years. There are detailed tables for each individual country as well as a number of comparative tables. Please note that this publication contains some provisional data for 2013 while some others are not yet available.”

Full publication “Statistics on payment, clearing and settlement systems in the CPMI countries”:

Federal Reserve Board announces it will begin a quantitative impact study to evaluate potential effects of its revised regulatory capital framework on insurance holding companies

“The Federal Reserve Board on Tuesday announced that it will begin a quantitative impact study (QIS) to evaluate the potential effects of its revised regulatory capital framework on savings and loan holding companies and nonbank financial companies supervised by the Board that are substantially engaged in insurance underwriting activity (insurance holding companies). In July 2013, theContinue Reading

2012 Economic Census Industry Series Reports – Nondepository Credit Intermediation

“Today the U.S. Census Bureau released additional data from the 2012 Economic Census Industry Series reports, including new data for the finance sector on nondepository credit intermediation. These new data showed that: Total nondepository credit intermediation (NAICS code 5222) revenue was $564.5 billion in 2012, an increase of 10.0 percent from the $513.3 billion in revenue generatedContinue Reading

The Politicization of International Economic Institutions in US Public Debates

“Rixen, Thomas and Zangl, Bernhard, The Politicization of International Economic Institutions in US Public Debates (September 28, 2014). The Review of International Organizations: Volume 8, Issue 3, 2013, pp. 363-387. Available for download at SSRN: http://ssrn.com/abstract=2502520 “Recent research has noted a trend of increased “politicization” of international politics, i.e., decisions of international institutions are increasingly debatedContinue Reading

Labor Force Participation Elasticities of Women and Secondary Earners within Married Couples

Labor Force Participation Elasticities of Women and Secondary Earners within Married Couples: Working Paper 2014-06, By Robert McClelland and Shannon Mok, both of CBO, and Kevin Pierce, of the Internal Revenue Service. “Labor supply elasticities are often used to evaluate the effect of changes in tax rates on the total hours worked in the economy. Historically,Continue Reading

Dark Pools in Equity Trading: Policy Concerns and Recent Developments

CRS - Dark Pools in Equity Trading: Policy Concerns and Recent Developments. Gary Shorter, Specialist in Financial Economics. Rena S. Miller, Specialist in Financial Economics. September 26, 2014. “The term “dark pools” generally refers to electronic stock trading platforms in which pre-trade bids and offers are not published and price information about the trade is only made public after the tradeContinue Reading

Personal Ethics & the U.S. Financial Collapse of 2007-08

Trautman, Lawrence J., Personal Ethics & the U.S. Financial Collapse of 2007-08 (September 26, 2014). Available for download at SSRN: http://ssrn.com/abstract=2502124 “The seeds for the 2007-09 financial collapse were sewn over many years and nurtured by ill-advised governmental housing policy, the presence of pervasive fraud both large and small and the widespread failure of personal integrity.Continue Reading

SIGTARP – Treasury Significantly Loosened Exe Pay Limits – Excessive Pay for Top 25 Employees at GM and Ally

Special Inspector General for the Troubled Asset Relief Program (SIGTARP), Report Number 14-001, September 24, 2014.  Treasury Significantly Loosened Executive Pay Limits Resulting in Excessive Pay for Top 25 Employees at GM and Ally (GMAC)  When the Companies Were Not Repaying TARP in Full and Taxpayers Were Suffering Billions of Dollars in Losses. “Overall, SIGTARP foundContinue Reading

Talent, Company Size, and Financial Centres: London and the European Investment Management Industry

Clark, Gordon L., Talent, Company Size, and Financial Centres: London and the European Investment Management Industry (September 24, 2014). Available at SSRN: http://ssrn.com/abstract=2500767 “London dominates the European financial services industry, being the centre-point for advanced financial services, skilled labour, and the complex array of services needed to invest beyond Europe’s borders. As in other global financialContinue Reading

The Production of Investment Returns in Spatially Extensive Financial Markets

Clark, Gordon L. and Monk, Ashby H. B., The Production of Investment Returns in Spatially Extensive Financial Markets (September 16, 2014). Available at SSRN: http://ssrn.com/abstract=2501912 “Investment returns are produced by combining financial assets with human capital, the decision-making protocols of investment institutions, and the electronic infrastructure which supports the flow of information about investment opportunities. AtContinue Reading

Towers Watson annual report on Fortune 500 directors compensation

“Total pay for outside directors at the nation’s largest corporations increased by 6% in 2013, fueled by higher stock-based compensation, according to a new analysis by global professional services company Towers Watson. The study also found that cash compensation remained flat for the first time since 2007, when proxy disclosure rules were enacted requiring companiesContinue Reading

The FRBNY DSGE Model Forecast

Matthew Cocci, Marco Del Negro, Stefano Eusepi, Marc Giannoni, and Sara Shahanaghi - Fifth in a five-part series “This series examines the Federal Reserve Bank of New York’s dynamic stochastic general equilibrium (FRBNY DSGE) model—a structural model used by Bank researchers to understand the workings of the U.S. economy and provide economic forecasts.The U.S. economy has been inContinue Reading