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Daily Archives: July 18, 2013

New GAO Reports: Financial Company Bankruptcies, Foreign Affairs Management, Medicaid Demonstration Waivers, SEC Conflict Minerals Rule

  • Financial Company Bankruptcies – Need to Further Consider Proposals’ Impact on Systemic Risk, GAO-13-622, Jul 18, 2013
  • Foreign Affairs Management – State Department Has Strengthened Foreign Service Promotion Process Internal Controls, but Documentation Gaps Remain, GAO-13-654, Jul 18, 2013
  • Medicaid Demonstration Waivers, Approval Process Raises Cost Concerns and Lacks Transparency, GAO-13-384, Jun 25, 2013
  • SEC Conflict Minerals Rule – Information on Responsible Sourcing and Companies Affected, GAO-13-689, Jul 18, 2013
  • Securities and Exchange Commission – Alternative Criteria for Qualifying As An Accredited Investor Should Be Considered, GAO-13-640, Jul 18, 2013
  • Securities and Exchange Commission – Improving Personnel Management Is Critical for Agency’s Effectiveness, GAO-13-621, Jul 18, 2013

TRAC – Poor ICE FOIA Management Hinders Public Access to Immigration Records

Transactional Records Access Clearinghouse: “Poor management of FOIA requests at Immigration and Customs Enforcement (ICE) is evidenced by older requests being forgotten while the agency focuses on the newer ones, according to the latest ICE records compiled and analyzed by the Transactional Records Access Clearinghouse (TRAC) at Syracuse University. For example, as of the end… Continue Reading

Detroit Bankruptcy is Largest Chapter 9 Filing in U.S. History

Via FindLaw – “The city of Detroit’s recent bankruptcy filing made it the the largest U.S. city in history to seek Chapter 9 protection. The filing (attached below) came in the face of $18.5 billion in debt to creditors and unions. Detroit has seemingly tapped out its tax base, with no further ability to tax… Continue Reading

OFR Working Paper – Stress Tests to Promote Financial Stability

Stress Tests to Promote Financial Stability: Assessing Progress and Looking to the Future – Rick Bookstaber, Jill Cetina, Greg Feldberg, Mark Flood, Paul Glasserman, July 18, 2018 “Stress testing, which has its roots in risk management, should be adapted to support financial stability monitoring and to  incorporate the interconnections and dynamics of the financial system. Since the… Continue Reading

The Digital Landscape in 2013 and its Impact on Communities

Personal. Portable. Participatory. Pervasive. The Digital Landscape in 2013 and its Impact on Communities by Lee Rainie July 18, 2013 at Community Foundations, brought together by the John S. and James L. Knight Foundation. “Pew Internet Director Lee Rainie discussed the new media ecosystem with leaders of community foundations from Western states and several other… Continue Reading

New York Fed – Shadow Banking

Shadow Banking – Zoltan Pozsar, Tobias Adrian, Adam Ashcraft, and Hayley Boesky, July 18, 2013 “The rapid growth of the market-based financial system since the mid-1980s has changed the nature of financial intermediation. Within the system, “shadow banks” have served a critical role, especially in the run-up to the recent financial crisis. Shadow banks are financial intermediaries that… Continue Reading

Chairman Ben S. Bernanke Semiannual Monetary Policy Report to the Congress

“Chairman Hensarling, Ranking Member Waters, and other members of the Committee, I am pleased to present the Federal Reserve’s semiannual Monetary Policy Report to the Congress. I will discuss current economic conditions and the outlook and then turn to monetary policy. I’ll finish with a short summary of our ongoing work on regulatory reform. The Economic Outlook – The… Continue Reading

The Rising Use of Nonbank Credit among U.S. Households: 2009-2011

The Rising Use of Nonbank Credit among U.S. Households: 2009-2011 by Gregory B. Mills and William Monson, Urban Institute, July 17, 2013. “Between January 2009 and June 2011, through the depths of the Great Recession and the initial sluggish recovery, the percentage of U.S. households that had ever used high-cost nonbank credit rose from 11.8 to 14.2 percent. This… Continue Reading

BIS – Should monetary policy lean against the wind? – an analysis based on a DSGE model with banking

Should monetary policy lean against the wind? – an analysis based on a DSGE model with banking, by Leonardo Gambacorta and Federico M Signoretti – Working Papers No 418, July 2013 “The global financial crisis has reaffirmed the importance of financial factors for macroeconomic fluctuations. Recent work has shown how the conventional pre-crisis prescription that… Continue Reading