Category «Financial System»

The Board’s Responsibility for Crisis Governance

Trautman, Lawrence J., The Board’s Responsibility for Crisis Governance (June 26, 2015). Available for download at SSRN: http://ssrn.com/abstract=2623219 “A clear strategy and implementation plan for reasonably foreseeable industry disasters — before they take place, helps to prevent mistakes made under conditions of severe stress. Low probability but survival-threatening disasters such as the BP Gulf of …

Subjects: Economy, Energy, Environmental Law, Financial System, Knowledge Management, Legal Research

Unlocking the potential of the Internet of Things

McKinsey – The Internet of Things – sensors and actuators connected by networks to computing systems—has received enormous attention over the past five years. A new McKinsey Global Institute report, The Internet of Things: Mapping the value beyond the hype, attempts to determine exactly how IoT technology can create real economic value. Our central finding …

Subjects: E-Commerce, Economy, Financial System

GAO Reports – Accessible Communications, Bank Regulation, Chemical and Biological Defense, Combating Terrorism, DHS IT Contracting

Accessible Communications: FCC Should Evaluate the Effectiveness of Its Public Outreach Efforts, GAO-15-574: Published: Jun 25, 2015. Publicly Released: Jun 25, 2015. Bank Regulation: Lessons Learned and a Framework for Monitoring Emerging Risks and Regulatory Response, GAO-15-365: Published: Jun 25, 2015. Publicly Released: Jun 25, 2015. Chemical and Biological Defense: Designated Entity Needed to Identify, …

Subjects: Cybersecurity, Defense, Economy, Financial System, Government Documents

CFPB consumer complaint database

“[June 25, 2015] the Consumer Financial Protection Bureau (CFPB) [went] live with an enhanced public-facing consumer complaint database. It includes for the first time over 7,700 consumer accounts of problems they are facing with financial companies concerning mortgages, bank accounts, credit cards, debt collection, and more. The CFPB is also publishing a Request for Information …

Subjects: Congress, Economy, Financial System, Government Documents, Internet, Legal Research, Legislation

Accounting-Based Downside Risk Cost of Capital and Macroeconomy

Konchitchki, Yaniv and Luo, Yan and Ma, Mary L. Z. and Wu, Feng, Accounting-Based Downside Risk, Cost of Capital, and the Macroeconomy (June 23, 2015). Available for download at SSRN: http://ssrn.com/abstract=2622180 “We develop an earnings downside risk measure that captures the expectation for future downward operating performance. We hypothesize that this measure contains distinct information about …

Subjects: Economy, Financial System

Net Stable Funding Ratio disclosure standards

Bank for International Settlements, June 22, 2015: “Disclosure requirements for the Net Stable Funding Ratio (“NSFR”) have been developed to improve the transparency of regulatory funding requirements, reinforce the Principles for sound liquidity risk management and supervision, strengthen market discipline, and reduce uncertainty in the markets as the NSFR standard is implemented. Similar to the LCR disclosure framework, and to promote the …

Subjects: Economy, Financial System, Government Documents

Placing Bank Supervision in the Central Bank

Melecky, Martin and Podpiera, Anca Maria, Placing Bank Supervision in the Central Bank: Implications for Financial Stability Based on Evidence from the Global Crisis (June 22, 2015). World Bank Policy Research Working Paper No. 7320. Available for download at SSRN: http://ssrn.com/abstract=2621874 “Although keeping bank supervision independent from macroprudential supervision may ensure more checks and balances, placing …

Subjects: Economy, Financial System

OPM IG Report – Infrastructure and IT Controls Improvement

“The U.S. Office of Personnel Management (OPM) Office of the Inspector General (OIG) is issuing this Flash Audit Alert to bring to your immediate attention serious concerns we have regarding the Office of the Chief Information Officer’ s (OCIO) infrastructure improvement project (Project). This Project includes a full overhaul ofthe agency’s technical infrastructure by implementing additional information technology …

Subjects: Cybercrime, Cybersecurity, Financial System, Government Documents, Internet, Privacy

Survey – financial insecurity rises in America

Bankrate.com: “Wages may be on the rise, but a record-high percentage of Americans still aren’t socking away those gains for life’s unexpected crises. When asked about their emergency savings, 29 percent of Americans reported they had none, according to a survey that accompanied Bankrate’s Financial Security Index for June. That’s the highest level in five years …

Subjects: Economy, Financial System

SEC Re-Proposes Rules on Security-Based Swaps

Harvard Law School Forum on Corporate Governance and Financial Regulation:  SEC Re-Proposes Rules on Arranging, Negotiating or Executing Security-Based Swaps, Annette L. Nazareth, Davis Polk & Wardwell LLP,  June 21, 2015 “On May 13, 2015, the SEC published proposed amendments and re-proposed rules on the application of certain Title VII requirements to cross-border security-based swap activities …

Subjects: Economy, Financial System, Government Documents, Legal Research, Securities Law