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Category Archives: Financial System

Wealth inequality has widened along racial, ethnic lines since end of Great Recession

Pew – Racial, Ethnic Wealth Gaps Have Grown Since the Great Recession “The Great Recession, fueled by the crises in the housing and financial markets, was universally hard on the net worth of American families. But even as the economic recovery has begun to mend asset prices, not all households have benefited alike, and wealthContinue Reading

OECD Pensions Outlook 2014

OECD Pensions Outlook 2014 “This 2014 edition of the OECD Pensions Outlook examines the ever-changing pensions landscape. It looks at pension reform, the role of private pensions and retirement savings. Population ageing and longevity risk is examined as are the means of increasing coverage and providing automatic enrolment. The volume is rounded out by aContinue Reading

Gallup – In U.S., Standard of Living Ratings Improving in 2014

News release: “In line with a recent raft of good economic news — including robust gross domestic product growth in the third quarter and November’s strong jobs report — nearly six in 10 Americans said in November that their standard of living was getting better (58%). This is close to the highest monthly value inContinue Reading

CFPB Spotlights Concerns with Medical Debt Collection and Reporting

“…the Consumer Financial Protection Bureau (CFPB) released a report that found medical debt has a significant impact on consumer credit, as 43 million Americans have overdue medical debt on their credit reports. The CFPB is concerned that the systems for incurring, collecting, and reporting medical debt can create difficult challenges for consumers. To better addressContinue Reading

The Vanishing Male Worker – NYT

The Vanishing Male Worker: How America Fell Behind, by Binyamin Appelbaum: “Working, in America, is in decline. The share of prime-age men – those 25 to 54 years old – who are not working has more than tripled since the late 1960s, to 16 percent…Many men, in particular, have decided that low-wage work will notContinue Reading

Revisions to the securitisation framework

“The Basel Committee on Banking Supervision’s revisions to the securitisation framework aim to address a number of shortcomings in the Basel II securitisation framework and to strengthen the capital standards for securitisation exposures held in the banking book. This framework, which will come into effect in January 2018, forms part of the Committee’s broader BaselContinue Reading

Criteria for identifying simple, transparent and comparable securitisations

“The Basel Committee on Banking Supervision (BCBS) and the International Organization of Securities Commissions (IOSCO) released today a consultative document on Criteria for identifying simple, transparent and comparable securitisations. The purpose of these criteria is to identify – and to assist the financial industry’s development of – simple, transparent and comparable securitisations structures, as well as to helpContinue Reading

Measuring the Digital Economy – OECD

Directorate for Science, Technology and Innovation: “The growing role of the digital economy in daily life has heightened demand for new data and measurement tools. Internationally comparable and timely statistics combined with robust cross-country analyses are crucial to strengthen the evidence base for digital economy policy making, particularly in a context of rapid change. This reportContinue Reading

America the frugal: US Consumer Sentiment Survey

McKinsey & Co.: The slow start to the US holiday shopping season is no anomaly. Our latest Consumer Economic Sentiment survey finds that some six years after the Great Recession, Americans remain reluctant spenders. December 2014 | by Anne Martinez, Rukhshana Motiwala, and Ali Sher – “First the good news: The way Americans feel about their ownContinue Reading

Federal Reserve Board proposes rule to further strengthen capital positions of the largest, most systemically important U.S. bank holding companies

” The Federal Reserve Board on [December 9, 2014] proposed a rule to further strengthen the capital positions of the largest, most systemically important U.S. bank holding companies. The proposal establishes a methodology to identify whether a U.S. bank holding company is a global systemically important banking organization, or GSIB. A firm identified as a GSIB wouldContinue Reading

New GAO Reports – Federal Retirement, Immigration Benefits, NASA, Public Transit, Unmanned Aerial Systems

Federal Retirement Processing: Applying Information Technology Acquisition Best Practices Could Help OPM Overcome a Long History of Unsuccessful Modernization Efforts, GAO-15-277T: Published: Dec 10, 2014. Publicly Released: Dec 10, 2014. Immigration Benefits: Improvements Needed to Fully Implement the International Marriage Broker Regulation Act, GAO-15-3: Published: Dec 10, 2014. Publicly Released: Dec 10, 2014. Information Technology: HUD CanContinue Reading

BCBS assessment of Basel III implementation in EU and US

Freshfields: “The Basel Committee on Banking Supervision (BCBS) has assessed the implementation of the Basel capital framework in the nine EU Member States that are members of BCBS and the US.  The assessments were conducted under the BCBS’ regulatory consistency assessment programme (RCAP), which assesses the consistency and completeness of a jurisdiction’s adopted standards andContinue Reading