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Federal Reserve Bank of New York – June 2014 Number 676 – Authors: Ricardo Correa, Linda Goldberg, and Tara Rice “While the balance sheet structure of U.S. banks influences how they respond to liquidity risks, the mechanisms for the effects on and consequences for lending vary widely across banks. We demonstrate fundamental differences across banks without foreign affiliates versus those with foreign …
Cohen, Jeffrey R. and Krishnamoorthy, Ganesh and Wright, Arnold, Enterprise Risk Management and the Financial Reporting Process: The Experiences of Audit Committee Members, CFOs, and External Auditors (May 30, 2014). Available at SSRN: http://ssrn.com/abstract=2444397 “The financial crisis has brought to the forefront the need for companies to effectively manage their risks. One approach that has gained …
Michael Madowitz, What Have We Learned About Austerity Since the Great Recession?, May 2014. “There are three major lessons for policymakers from this research: Direct government intervention during recessions, either through deficit-financed tax cuts or deficit-financed increases in government spending, is a more powerful tool for fighting recessions than we realized before the Great Recession. In a slack …
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 policy-relevant and applied …
DOD FINANCIAL MANAGEMENT: Improvements Needed in Army’s Efforts to Ensure the Reliability of Its Statement of Budgetary Resources, GAO-14-60: Published: May 30, 2014. Publicly Released: May 30, 2014. DOE LOAN PROGRAMS: DOE Has Made More Than $30 Billion in Loans and Guarantees and Needs to Fully Develop Its Loan Monitoring Function, GAO-14-645T: Published: May 30, 2014. Publicly Released: May 30, 2014. …
Washington Examiner, Richard Pollock: “As many as 227 million Americans may be compelled to disclose intimate details of their families and financial lives — including their Social Security numbers — in a new national database being assembled by two federal agencies. The Federal Housing Finance Agency and the Consumer Financial Protection Bureau posted an April 16 Federal Register notice of an expansion of their joint National …
“The Committee on Payment and Settlement Systems (CPSS) and the International Organization of Securities Commissions (IOSCO) continue to closely monitor the implementation of the Principles for financial market infrastructures (PFMIs). The PFMIs (published by CPSS-IOSCO in April 2012) are international standards for payment, clearing and settlement systems, and trade repositories. They are designed to ensure that the …
OFR Working Paper – A Map of Funding Durability and Risk, May 29, 2014 “The dynamics of the financial system and the undercurrents of its vulnerabilities rest on the flow of funding. Analysts typically represent these dynamics as a network with banks and financial entities as the nodes and the funding links as the edges. …
EMERGENCY TRANSPORTATION RELIEF: Agencies Could Improve Collaboration Begun during Hurricane Sandy Response, GAO-14-512: Published: May 28, 2014. Publicly Released: May 28, 2014. 2013 LOBBYING DISCLOSURE: Observations on Lobbyists’ Compliance with Disclosure Requirements, GAO-14-485: Published: May 28, 2014. Publicly Released: May 28, 2014. 2013 SEQUESTRATION: Selected Federal Agencies Reduced Some Services and Investments, While Taking Short-Term Actions to Mitigate Effects, GAO-14-452: Published: May …
“Among the many eye-popping findings in Morley Winograd and Mike Hais’ new paper on the millennial generation is that their attitudes towards the banking industry make it number one on a list of industries likely to experience severe disruption in its business model in the future. Their paper, the third is a series of Brookings’ papers on 21st Century …
Claus, Edda and Claus, Iris and Krippner, Leo, Asset Markets and Monetary Policy Shocks at the Zero Lower Bound (May 1, 2014). CAMA Working Paper No. 42/2014. Available at SSRN: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2442110 “This paper quantifies the impact of monetary policy shocks on asset markets in the United States and gauges the usefulness of a shadow short rate …
Hu, Henry T. C., Disclosure Universes and Modes of Information: Banks, Innovation, and Divergent Regulatory Quests (May 26, 2014). Yale Journal on Regulation, Vol. 31, No. 3, 2014. Available at SSRN: http://ssrn.com/abstract=2442092 “In 2013, a new system for mandatory public disclosure came into effect, the first since the creation of the Securities and Exchange Commission (SEC) …
