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Category Archives: Financial System

The Importance of Addressing Cybersecurity Risks in the Financial Sector

Sarah J. Dahlgren, executive vice president and member of the Bank’s Management Committee, head of the Financial Institution Supervision Group at the Federal Reserve Bank of New York – Remarks at the OpRisk North America Annual Conference, New York City: I am often asked about my list of “things that keep me awake at night,”Continue Reading

New BIS Working Papers – Foreign exchange intervention, Liquidity Squeeze, Global Asset Allocations Shifts, Macroprudential Policy, EMEs

Foreign exchange intervention: strategies and effectiveness – “Foreign exchange intervention has been actively used as a policy tool in many economies in Asia and elsewhere. In this paper, we examine two intervention rules (leaning against exchange rate misalignment and leaning against the wind), utilised with varying degrees of transparency, based on a simple model withContinue Reading

Agencies Provide Feedback on Resolution Plans of Three Foreign Banking Organizations

Firms Required to Address Shortcomings in 2015 Submissions – “The Federal Reserve Board and the Federal Deposit Insurance Corporation (FDIC) on Monday announced that they had completed the reviews of resolution plans submitted in 2014 by three large, foreign banking organizations and had issued feedback letters to each institution. In their review of the resolutionContinue Reading

Explaining the Decline in the Number of Banks since the Great Recession

Federal Reserve Bank of Richmond – March 2015, No. 15-03. Explaining the Decline in the Number of Banks since the Great Recession. Roisin McCord, Edward S. Prescott and Tim Sablik. “The financial crisis of 2007–08 was a major shock to the U.S. banking sector. From 2007 through 2013, the number of independent commercial banks shrankContinue Reading

Work in Retirement: Myths and Motivations

Career Reinventions and the New Retirement Workscape, A Merrill Lynch Retirement Study conducted in partnership with Age Wave. “Retirement used to mean the end of work. But now we’re at a tipping point: a majority of people will be continuing to work after they retire — often in new and different ways. Nearly half (47%)Continue Reading

Gender and Dynamic Agency: Theory and Evidence on the Compensation of Top Executives

 Federal Reserve Bank of New York Staff Report – Gender and Dynamic Agency: Theory and Evidence on the Compensation of Top Executives, March 2015. Stefania Albanesi, Claudia Olivetti, and María José Prados. “We document three new facts about gender differences in executive compensation. First, female executives receive a lower share of incentive pay in total compensation relative toContinue Reading

EBRI Employee Tenure Trends, 1983–2014

“Employee Tenure Trends, 1983–2014″ and “Views on Employment-Based Health Benefits: Findings from the 2014 Health and Voluntary Workplace Benefits Survey.” February 2015, Vol. 36, No. 2  Employee Benefit Research Institute, 2015 The most recent U.S. Census Bureau data show that the overall median tenure of workers—the midpoint of wage and salary workers’ length of employmentContinue Reading

Brookings report on highest household incomes in 50 largest US cities

Alan Berube and Natalie Holmes – Some cities are still more unequal than others—an update [See also City Inequality 2013 Appendix] “More than five years after the end of the Great Recession, and three years since the Occupy movement took on Wall Street, high and growing levels of income inequality continue to animate debates onContinue Reading

Destabilizing Property

“Rosser, Ezra, Destabilizing Property (March 1, 2015). Connecticut Law Review, Forthcoming; American University, WCL Research Paper No. 2015-1. Available for download at SSRN: http://ssrn.com/abstract=2581710 “Property theory has entered into uncertain times. Conservative and progressive scholars are fiercely contesting everything it seems, from what is at the core of property to what obligations owners owe society.Continue Reading

2013-2014: Financial Institution Consumer Complaints

Financial Instituiton Consumer Complaints presented in Tableau Public – users may download the workbook. The data source is the Consumer Financial Protection Board (CFPB) and the data is current as of March 20, 2015.

The Shrinking Middle Class, Mapped State by State

Via Pew – “The struggles of middle-class American families and growing income inequality have risen to the top of the national agenda. A new Stateline analysis shows that in all 50 states, the percentage of “middle-class” households—those making between 67 percent and 200 percent of the state’s median income—shrunk between 2000 and 2013. The changeContinue Reading

Pew – Federal Tax System Seen in Need of Overhaul

Report – Top Complaints: Wealthy, Corporations ‘Don’t Pay Fair Share’  “The public sees the nation’s tax system as deeply flawed: 59% say “there is so much wrong with the federal tax system that Congress should completely change it.” Just 38% think the system “works pretty well” and requires “only minor changes.” These opinions have changedContinue Reading