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June 2013 Quarterly Review: Markets under the spell of monetary easing, June 3, 2013 “Further monetary easing boosted asset prices despite negative macroeconomic news. Cross-border claims of BIS reporting banks fell in the fourth quarter of 2012 as a sharp reduction in cross-border interbank lending more than offset higher cross-border credit to non-banks. Paul Melaschenko …
“The International Journal of Central Banking (IJCB) is an initiative of the central banking community. Published quarterly, the journal features articles on central bank theory and practice, with a special emphasis on research relating to monetary and financial stability. The main objectives of the International Journal of Central Banking are: to disseminate widely the best …
St. Louis Fed, Annual Report, May 2013 , Chapter 2: “The Financial Crisis and the Impact on Households: “Household balance sheets were severely affected during the financial crisis and ensuing recession. According to the Federal Reserve’s triennial Survey of Consumer Finances (SCF)—the most comprehensive examination of household balance sheets—average household wealth declined 15 percent between …
“As the average number of miles driven by Americans heads into its eighth year of decline, a new report from the U.S. PIRG Education Fund finds that the slowdown in driving is likely to continue. Baby Boomers are moving out of the phase in their life when they do the most commuting, while driving-averse Millennials …
News release: “The euro area (EA17) seasonally-adjusted unemployment rate was 12.2% in April 2013, up from 12.1% in March 4. The EU27 unemployment rate was 11.0%, unchanged compared with the previous month. In both zones,rates have risen markedly compared with April 2012, when they were 11.2% and 10.3% respectively. These figures are published by Eurostat, …
Federal Reserve Bank of St. Louis Annual Report 2012 – Published May 2013: “In our annual report, you will learn about our work, our people, our mission and our results. As in the past, we also feature an essay on a timely topic that is central to America’s economy. This year’s essay focuses on the …
Georgetown Public Policy Institute Report – Hard Times – College Majors, Employment and Earnings: “In the past, a college degree all but assured job seekers employment and high earnings, but today, what you make depends on what you take. In Hard Times 2013, we show differences in unemployment and earnings based on major for BA …
“A number of exclusions, deductions, preferential rates, and credits in the federal tax system cause revenues to be much lower than they would be otherwise for any given structure of tax rates. Some of those provisions—in both the individual and corporate income tax systems—are termed “tax expenditures” because they resemble federal spending by providing financial …
News release: “Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reported aggregate net income of $40.3 billion in the first quarter of 2013, a $5.5 billion (15.8 percent) increase from the $34.8 billion in profits that the industry reported in the first quarter of 2012. This is the 15th consecutive …
CRS – Financial Stability Oversight Council: A Framework to Mitigate Systemic Risk, by Edward V. Murphy, Specialist in Financial Economics. May 21, 2013: “The Financial Stability Oversight Council (FSOC) was created by the Dodd-Frank Wall Street Reform and Consumer Protection Act (DFA; P.L. 111-203) in 2010 as part of a comprehensive reform of banking and securities …
Regulating Systemically Important Financial Institutions That Are Not Banks Douglas J. Elliott: “Certain financial institutions are so central to the American financial system that their failure could cause traumatic damage, both to financial markets and the larger economy. These institutions are often referred to as “systemically important financial institutions” or SIFIs. The Dodd-Frank Act, the …
