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Category Archives: Financial System

OTC derivatives statistics at end-December 2014

“The Bank for International Settlements (BIS) today released OTC derivatives statistics at end-December 2014.

  • OTC derivatives markets contracted in the second half of 2014. The notional amount of outstanding contracts fell by 9% between end-June 2014 and end-December 2014, from $692 trillion to $630 trillion. Exchange rate movements exaggerated the contraction of positions denominated in currencies other than the US dollar. Yet, even after adjusting for exchange rate movements, notional amounts were still down by about 3%.
  • The gross market value of outstanding derivatives contracts – which provide a more meaningful measure of amounts at risk than notional amounts – rose sharply in the second half of 2014. Market values increased from $17 trillion to $21 trillion between end-June 2014 and end-December 2014, to their highest level since 2012. The increase was likely driven by pronounced moves in long-term interest rates and exchange rates during the period.
  • Central clearing, a key element in global regulators’ agenda for reforming OTC derivatives markets to reduce systemic risks, made further inroads. In credit default swap markets, the share of outstanding contracts cleared through central counterparties rose from 27% to 29% in the second half of 2014. In interest rate derivatives markets too, central clearing is becoming increasingly important.

Developments in the latest OTC derivatives statistics, including tables with the latest data, are summarised in the statistical release. Additional details and historical data are available on the BIS website. OTC derivatives statistics at end-June 2015 will be released on or before 15 November 2015.”

Federal Reserve issues FOMC statement April 29 2015

News release: “Information received since the Federal Open Market Committee met in March suggests that economic growth slowed during the winter months, in part reflecting transitory factors. The pace of job gains moderated, and the unemployment rate remained steady. A range of labor market indicators suggests that underutilization of labor resources was little changed. GrowthContinue Reading

March 2015 Bankruptcy Filings Down 12 Percent

United States Courts -“Bankruptcy filings for the 12-month period ending March 31, 2015, fell 12 percent when compared to bankruptcy filings for the 12-month period ending March 31, 2014, according to statistics released today by the Administrative Office of the U.S. Courts. March 2015 bankruptcy filings totaled 911,086, compared to the 1,038,280 bankruptcy cases filedContinue Reading

Eighth progress report on adoption of Basel regulatory framework

“This updated Progress report on adoption of the Basel regulatory framework provides a high-level view of Basel Committee members’ progress in adopting Basel II, Basel 2.5 and Basel III standards as of end-March 2015. The report focuses on the status of domestic rule-making processes to ensure that the Basel standards are transformed into national lawContinue Reading

Stolen Asset Recovery Initiative

“The Stolen Asset Recovery Initiative (StAR) is a partnership between the World Bank Group and the United Nations Office on Drugs and Crime (UNODC)  that supports international efforts to end safe havens for corrupt funds. StAR works with developing countries and financial centers to prevent the laundering of the proceeds of corruption and to facilitateContinue Reading

The Systematic Component of Monetary Policy in SVARs

Arias, Jonas and Caldara, Dario and Rubio-Ramirez, Juan Francisco, The Systematic Component of Monetary Policy in SVARs: An Agnostic Identification Procedure (March 13, 2015). FRB International Finance Discussion Paper No. 1131. Available for download at SSRN: http://ssrn.com/abstract=2598244 “Following Leeper, Sims, and Zha (1996), we identify monetary policy shocks in SVARs by restricting the systematic component ofContinue Reading

Global Financial Stability Report, April 2015

Global Financial Stability Report, April 2015 : Navigating Monetary Policy Challenges and Managing Risks, International Monetary Fund. “The current report finds that, despite an improvement in economic prospects in some key advanced economies, new challenges to global financial stability have arisen. The global financial system is being buffeted by a series of changes, including lowerContinue Reading

Sacramento Tops Large Counties in Employment Growth Rate

“Among the 50 largest counties with the most employees, Sacramento, Calif., had the highest rate of employment growth among all sectors between 2012 and 2013 (up 5.5 percent to 428,475), according to new U.S. Census Bureau statistics released today. Sacramento was followed by two Texas counties: Travis (up 4.9 percent to 514,749) and Harris (upContinue Reading

A Look at the End-of-Life Financial Situation in America

A Look at the End-of-Life Financial Situation in America, April 2015, Vol. 36, No. 4 Employee Benefit Research Institute, 2015 “This report takes a comprehensive look at the financial situation of older Americans at the end of their lives. In particular, it documents the percentage of households with a member who recently died with fewContinue Reading

Partial Privatization of Listed Chinese Companies

Long, Frank Fu and He, Yan, Partial Privatization of Listed Chinese Companies: Revelations by Literature Survey and Analyses (April 20, 2015). Available for download at SSRN: http://ssrn.com/abstract=2596908 “We survey and analyze the existing literature about private vs. government ownership of listed Chinese companies in seven areas (corporate governance, M&As and other corporate transactions, IPOs andContinue Reading

CFPB – More financial empowerment tools for communities

“Today, we’re expanding the Your Money, Your Goals toolkit. This toolkit is a comprehensive and interactive guide designed for organizations that serve low-income consumers. It covers topics like budgeting for daily expenses, managing debt, and avoiding common financial traps. We’re releasing three versions of the toolkit for: Organizations that engage volunteers Legal aid organizations WorkersContinue Reading

Federal Reserve Board releases info on Large Institution Supervision Coordinating Committee

“The Federal Reserve Board on [April 17, 2015] released additional information on the operating structure of the Large Institution Supervision Coordinating Committee (LISCC) supervisory program. The attached memorandum supplements previously released information regarding the LISCC and provides additional details on the program’s organizational structure, including the functions of its subcommittees. The LISCC program was establishedContinue Reading