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News release and statistical tables: “UK-owned monetary financial institutions and their branches and subsidiaries worldwide reported an increase in consolidated foreign claims on an ultimate risk basis of $16.4 billion during Q2 2013, to stand at $3,918.3 billion. The rise was more than accounted for by an increase on Developed Countries, up $60.6 billion to stand …
Reducing Retirement Risk with a Rising Equity Glide-Path, Wade D. Pfau, The American College; Michael E. Kitces, The Kitces Report & Nerd’s Eye View; Pinnacle Advisory Group. September 12, 2013 “This study explores the issue of what is an appropriate default equity glide-path for client portfolios during the retirement phase of the life cycle. We find, surprisingly, that rising equity …
Governor Daniel K. Tarullo At the Yale Law School Conference on Challenges in Global Financial Services, New Haven, Connecticut September 20, 2013 – Macroprudential Regulation “Real world crises have a way of shaking up the intellectual foundations of policy disciplines. Elements of received wisdom are undermined, while certain heterodox or less mainstream views are seen as more valid …
“Income levels and poverty rates were not statistically different for most states and metro areas from 2011 to 2012, according to statistics released today from the U.S. Census Bureau’s American Community Survey. Incomes remained lower and poverty rates were higher in 2012 than in 2007, the year before the recession. The percentage of people without …
“Prudential Financial, Inc. confirmed today that it has been notified by the Financial Stability Oversight Council (FSOC) that the company has been designated a systemically important financial institution by a final vote. Under the Dodd-Frank Wall Street Reform and Consumer Protection Act, Prudential has 30 days to consider its response to FSOC’s determination.” American Banker …
“We recognize that social service agencies are a trusted resource for some consumers. Through our research and outreach, we have learned that case managers and frontline staff at social service agencies do not always have the knowledge, skills, and tools to support their clients in improving their financial lives. As a result, we took on …
Living Below the Line: Economic Insecurity and America’s Families. Shawn McMahon, Jessica Horning – Fall 2013 “Forty-five percent of US residents live in households that lack economic security. Thirty-nine percent of all adults and 55% of all children live in households that lack economic security incomes. Between 2007 and 2011, the overall economic insecurity rate rose from 38% to 45%. The …
News release: “Information received since the Federal Open Market Committee met in July suggests that economic activity has been expanding at a moderate pace. Some indicators of labor market conditions have shown further improvement in recent months, but the unemployment rate remains elevated. Household spending and business fixed investment advanced, and the housing sector has …
Financial Planning Profiles of American Households: The 2013 Household Financial Planning Survey and Index, September 18, 2013 “Close to nine in 10 American households today engage in some type of formal or informal financial planning. These behaviors range from following a household budget that is not even written down, to setting up a retirement account, to working …
OIG Report No. 2013-AE-B-012: Board Should Strengthen Controls over the Handling of the Federal Open Market Committee Meeting Minutes – August 27, 2013. “…Office of Inspector General’s report on the subject audit….objectives were to evaluate the Board of Governors of the Federal Reserve System’s (Board’s) processes for distributing Federal Open Market Committee meeting minutes to Federal …
CRS – Rebuilding Household Wealth: Implications for Economic Recovery – Craig K. Elwell, Specialist in Macroeconomic Policy, September 13, 2013 “The pace of economic recovery from the 2007-2009 recession has been historically slow. Over four years of recovery, the annual rate of growth of real gross domestic product (GDP) has averaged 2%, well below the …
BIS Working Papers: Order Flow and the Real: Indirect Evidence of the Effectiveness of Sterilized Interventions Interventions and inflation expectations in an inflation targeting economy The impact of pre-announced day-to-day interventions on the Colombian exchange rate On central bank interventions in the Mexican peso/dollar foreign exchange market Asymmetric effects of FOREX intervention using intraday data: …
