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“The Financial Stability Board (FSB) is launching today a public consultation on guidance for the identification of the critical functions and critical shared services for systemically important insurers. The guidance should assist national authorities in implementing the recovery and resolution planning requirements set out in the FSB Key Attributes of Effective Resolution Regimes for Financial …
“The Basel Committee’s revised principles on corporate governance at banks build on the Committee’s 2010 document Principles for enhancing corporate governance. Specifically, the revised principles: strengthen the guidance on risk governance, including the risk management roles played by business units, risk management teams, and internal audit and control functions (the three lines of defence) and …
CFPB: “In the years leading up to the financial crisis, many of the same subprime lending practices that led to troubles in the mortgage market also existed in the private student loan market. Like the homeowners who turned to their mortgage servicer to modify their loans but ran into customer service dead ends, lost paperwork …
NY Fed: Ricardo Correa, Linda Goldberg, and Tara Rice “The recent financial crisis underscored the importance of understanding how liquidity conditions for banks (or other financial institutions) influence the banks’ lending to domestic and foreign customers. Our recent research examines the domestic and international lending responses to liquidity risks across different types of large U.S. …
Companies that signed on to best practices for recruiting and hiring the long-term unemployed in January are already reporting progress, October 15, 2014. In January, the Administration engaged with America’s businesses to develop best practices for hiring and recruiting the long-term unemployed to ensure that these candidates receive a fair shot during the hiring process …
“The nation’s poverty rate was 15.5 percent in 2013, down from 16.0 percent in 2012, according to the supplemental poverty measure released today by the U.S. Census Bureau. The 2013 rate was higher than the official measure of 14.5 percent, but similarly declined from the corresponding rate in 2012. Meanwhile, 48.7 million were below the poverty …
Education, Hard Work Considered Keys to Success, but Inequality Still a Challenge “As they continue to struggle with the effects of the Great Recession, publics in advanced economies are pessimistic about the financial prospects for the next generation. Most of those surveyed in richer nations think children in their country will be worse off financially than …
The Changing Profile of Student Borrowers – Biggest Increase in Borrowing Has Been Among More Affluent Students, Richard Fry – October 9, 2014. “In 2012, a record share of the nation’s new college graduates (69%) had taken out student loans to finance their education, and the typical amount they had borrowed was more than twice that …
Marian, Omri Y., A Conceptual Framework for the Regulation of Cryptocurrencies (October 14, 2014). University of Chicago Law Review Dialogue, Vol. 81, 2015 Forthcoming. Available for download at SSRN: http://ssrn.com/abstract=2509857 “This Essay proposes a conceptual framework for the regulation of transactions involving cryptocurrencies. Cryptocurrencies offer tremendous opportunities for innovation and development, but at the same time …
Summary of Commentary on Current Economic Conditions By Federal Reserve District, October 2014 “Reports from the twelve Federal Reserve Districts generally described modest to moderate economic growth at a pace similar to that noted in the previous Beige Book. Moderate growth was reported by the Cleveland, Chicago, St. Louis, Minneapolis, Dallas, and San Francisco Districts, …
Reinhart, Carmen and Trebesch, Christoph, A Distant Mirror of Debt, Default, and Relief (October 2014). CEPR Discussion Paper No. DP10195. Available for download at SSRN: http://ssrn.com/abstract=2510053 “We take a first pass at quantifying the magnitudes of debt relief achieved through default and restructuring in two distinct samples: 1979-2010, focusing on credit events in emerging markets, …
News release: “The heads of the Treasuries and leading financial regulatory bodies in the United States and United Kingdom today participated in an exercise designed to further the understanding, communication, and cooperation between U.S. and U.K. authorities in the event of the failure and resolution of a global systemically important bank, or G-SIB. The event was …
