Accurate, Focused Research on Law, Technology and Knowledge Discovery With Daily Postings Since 2002
The Cost of Spousal Health Coverage, and The Role of Social Security, Defined Benefits, and Private Retirement Accounts in the Face of the Retirement Crisis. January 2014, Vol. 35, No. 1. Employee Benefit Research Institute. “As of 2012, 7 percent of employers did not cover spouses when other coverage was available to them and 4 percent …
Economic Trends: Gentrification and Financial Health, by Daniel Hartley, November 6, 2013. “Gentrification is a form of neighborhood change. While it does not have a precise definition, it is commonly associated with an increase in income, rising home prices or rents, and sometimes with changes in the occupational mix and educational level of neighborhood residents. Gentrification is …
Reducing Retirement Risk with a Rising Equity Glide Path by Wade D. Pfau, Ph.D., CFA; and Michael E. Kitces, CFP®, CLU®, ChFC®, RHU, REBC. Journal of Financial Planning, January 2014. Executive Summary: “This study explores the issue of what is an appropriate default equity glide path for client portfolios during the retirement phase of the lifecycle. …
Shadow Banking: Background and Policy Issues, Edward V. Murphy, Specialist in Financial Economics, December 31, 2013. “One view of the financial crisis of 2007-2008 is that it was not centered in traditional banking. The term shadow banking “ … refers to credit intermediation involving leverage and maturity transformation that is partly or wholly outside the traditional banking system.” That is, …
“The Federal Reserve Board on [January 24, 2014] provided additional information on its expectations for the recovery and resolution preparedness of certain large domestic bank holding companies. Recovery and resolution preparedness aims to reduce the effect of a firm’s failure or material weakness on the financial system and the broader economy. The supervisory guidance, SR letter …
RECOVERY ACT: Grant Implementation Experiences Offer Lessons for Accountability and Transparency, GAO-14-219, Jan 24, 2014 “In response to the recent serious recession, Congress enacted the Recovery Act to promote economic recovery, make investments, and minimize or avoid reductions in state and local government services. Approximately $219 billion was distributed as grants for use in states and localities, …
Inequality, the Great Recession, and Slow Recovery. Barry Z. Cynamon and Steven M. Fazzari. November 20, 2013 “Rising inequality reduced income growth for the bottom 95% of the income distribution beginning around 1980, but that group’s consumption growth did not fall proportionally. Instead, lower saving put the bottom 95% on an unsustainable financial path that eventually triggered …
Monetary Policy with Abundant Liquidity: A New Operating Framework for the Fed by Joseph E. Gagnon, Peterson Institute for International Economics and Brian Sack, D. E. Shaw Group “The amount of assets held by the Federal Reserve has dramatically increased since 2009. It recently crossed $4 trillion and will likely peak at about $4.5 trillion. This increase …
“The Bank for International Settlements (BIS) released today international banking statistics at end-September 2013. The third quarter of 2013 saw another sizeable contraction in international banking activity. Between end-June and end-September 2013, the cross-border claims of BIS reporting banks fell by $508 billion, or 1.8%, to $28.5 trillion. Interoffice positions accounted for most of the contraction, continuing the …
“The Basel Committee has issued these sound practices to foster overall improvement in banks’ capital planning practices. Indeed, an important lesson from the financial crisis concerned the need for banks to improve and strengthen their capital planning. Some of the observed weaknesses reflected processes that were not sufficiently comprehensive, appropriately forward-looking or adequately formalised. As a consequence, …
“The Basel Committee on Banking Supervision has today issued a consultative document on Revised good practice principles for supervisory colleges. The Committee seeks to ensure that the principles remain fit for purpose and that they describe how high quality supervisory colleges typically function. The key changes include the following: Principle 1 now places greater emphasis on collaboration and …
Monetary policy and financial stability: what role in prevention and recovery? by Claudio Borio – Bank for International Settlements (BIS) “If the criteria for an institution’s success are diffusion and longevity, then central banking has been hugely successful. But if the criterion is the degree to which it has achieved its goals, then the evaluation has to be …
