What Distinguishes Larger and More Efficient Credit Unions?
... http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis ...
... http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis ...
This PDF is a selection from a published volume from... Bureau of Economic Research
... and liquidity crises arise when they become credit constrained themselves. In such liquidity crises, financial institutions’ ability to borrow against their securities plays a key role, as Bagehot points out. In the private markets, it can become virtually impossible to borrow against certain illiqu ...
... and liquidity crises arise when they become credit constrained themselves. In such liquidity crises, financial institutions’ ability to borrow against their securities plays a key role, as Bagehot points out. In the private markets, it can become virtually impossible to borrow against certain illiqu ...
“You can`t build a wall around a village. The sun and the wind will
... of the result. Leaders of both the campaign to stay (Prime Minister David Cameron) and the campaign to leave (Boris Johnson and Nigel Farage) stepped down from their roles. Plus, the leader of the opposition party (Jeremy Corbyn) lost a confidence vote within the Labour party. Some forward progress ...
... of the result. Leaders of both the campaign to stay (Prime Minister David Cameron) and the campaign to leave (Boris Johnson and Nigel Farage) stepped down from their roles. Plus, the leader of the opposition party (Jeremy Corbyn) lost a confidence vote within the Labour party. Some forward progress ...
The Development of an Appropriate Regulatory Response to the
... subprime crisis that began in 2007. It was not the sole driver though, as noted by economist Robert J Shiller, who points out that although low interest rates may have helped contribute to the housing bubble, house prices had been increasing for many years prior to this.10 However ...
... subprime crisis that began in 2007. It was not the sole driver though, as noted by economist Robert J Shiller, who points out that although low interest rates may have helped contribute to the housing bubble, house prices had been increasing for many years prior to this.10 However ...
The arbitrage-free valuation and hedging of demand deposits and
... right to add or subtract balances without restriction. The rate on such an account may be a ®xed or ¯oating rate. By contrast, time deposits or certi®cates of deposits have an explicit maturity, an explicit principal amount set at the time of the initial deposit, and a change in the principal amount ...
... right to add or subtract balances without restriction. The rate on such an account may be a ®xed or ¯oating rate. By contrast, time deposits or certi®cates of deposits have an explicit maturity, an explicit principal amount set at the time of the initial deposit, and a change in the principal amount ...
Management of Construction and Real Estate Under Conditions of
... Economic crises are linked to the large-scale prices corrections in markets. Reasons and consequences of these corrections have a lot of similarities from historical perspective. The Great Depression in the third decade of the twentieth century, the Internet bubble, the recent global financial crisi ...
... Economic crises are linked to the large-scale prices corrections in markets. Reasons and consequences of these corrections have a lot of similarities from historical perspective. The Great Depression in the third decade of the twentieth century, the Internet bubble, the recent global financial crisi ...
The effects of short-selling public disclosure regimes on equity markets
... important function in equity markets, many do not appreciate the magnitude or unique nature of their involvement. Some estimates have short sellers responsible for between 20-30% of equity trading volume. Short-selling liquidity is beneficial not only because it increases overall market liquidity bu ...
... important function in equity markets, many do not appreciate the magnitude or unique nature of their involvement. Some estimates have short sellers responsible for between 20-30% of equity trading volume. Short-selling liquidity is beneficial not only because it increases overall market liquidity bu ...
IFRS 9 Financial Instruments
... After a bond is issued, it may trade at a discount or a premium. If it has a fixed rate of return, a general rise in interest rates, or a fall in the issuer’s credit rating, would make the bond less attractive and its price may fall. As the time approaches the date when the bond pays interest, the p ...
... After a bond is issued, it may trade at a discount or a premium. If it has a fixed rate of return, a general rise in interest rates, or a fall in the issuer’s credit rating, would make the bond less attractive and its price may fall. As the time approaches the date when the bond pays interest, the p ...
Positive Expectations Feedback Experiments and Number Guessing
... behavior of financial markets this fast convergence is surprising for at least two reasons. First, empirical evidence suggests that asset markets are in fact not that stable. Shiller (1981, 2000), for example, shows that stock prices are excessively volatile: their variance is higher than that of th ...
... behavior of financial markets this fast convergence is surprising for at least two reasons. First, empirical evidence suggests that asset markets are in fact not that stable. Shiller (1981, 2000), for example, shows that stock prices are excessively volatile: their variance is higher than that of th ...
A Financial Risk and Fraud Model Comparison of Bear Stearns and
... seemed to be in similar, very weak financial positions. Bear Stearns bailout may have been helped by Wall Street connections, like Henry Paulsen, the U.S. Treasury Secretary and former CEO of Goldman Sachs. However, possibly the U.S. federal government later thought that Lehman Brothers was “too big ...
... seemed to be in similar, very weak financial positions. Bear Stearns bailout may have been helped by Wall Street connections, like Henry Paulsen, the U.S. Treasury Secretary and former CEO of Goldman Sachs. However, possibly the U.S. federal government later thought that Lehman Brothers was “too big ...
WHAT HAPPENS WHEN YOU REGULATE RISK?
... period. The agents are heterogeneous in risk aversion, and have CARA utility. CARA utility allows for closed-form solutions, and we argue that the inherent logic of our results would carry over to more general specifications. There are also noise traders who submit market orders. Equivalently, invest ...
... period. The agents are heterogeneous in risk aversion, and have CARA utility. CARA utility allows for closed-form solutions, and we argue that the inherent logic of our results would carry over to more general specifications. There are also noise traders who submit market orders. Equivalently, invest ...
Gideon I: the FTC equity strategy
... Gideon I: the FTC equity strategy The new long-short approach at work As promised, FTC’s trend-following fund-of-funds strategy has survived the crisis months on the world markets since 2008 much better in comparison with conventional equity funds. Since February 2009, FTC has been applying an addit ...
... Gideon I: the FTC equity strategy The new long-short approach at work As promised, FTC’s trend-following fund-of-funds strategy has survived the crisis months on the world markets since 2008 much better in comparison with conventional equity funds. Since February 2009, FTC has been applying an addit ...
United States housing bubble
The United States housing bubble was an economic bubble affecting many parts of the United States housing market in over half of American states. Housing prices peaked in early 2006, started to decline in 2006 and 2007, and reached new lows in 2012. On December 30, 2008, the Case-Shiller home price index reported its largest price drop in its history. The credit crisis resulting from the bursting of the housing bubble is—according to general consensus—the primary cause of the 2007–2009 recession in the United States.Increased foreclosure rates in 2006–2007 among U.S. homeowners led to a crisis in August 2008 for the subprime, Alt-A, collateralized debt obligation (CDO), mortgage, credit, hedge fund, and foreign bank markets. In October 2007, the U.S. Secretary of the Treasury called the bursting housing bubble ""the most significant risk to our economy.""Any collapse of the U.S. housing bubble has a direct impact not only on home valuations, but the nation's mortgage markets, home builders, real estate, home supply retail outlets, Wall Street hedge funds held by large institutional investors, and foreign banks, increasing the risk of a nationwide recession. Concerns about the impact of the collapsing housing and credit markets on the larger U.S. economy caused President George W. Bush and the Chairman of the Federal Reserve Ben Bernanke to announce a limited bailout of the U.S. housing market for homeowners who were unable to pay their mortgage debts.In 2008 alone, the United States government allocated over $900 billion to special loans and rescues related to the U.S. housing bubble, with over half going to Fannie Mae and Freddie Mac (both of which are government-sponsored enterprises) as well as the Federal Housing Administration. On December 24, 2009, the Treasury Department made an unprecedented announcement that it would be providing Fannie Mae and Freddie Mac unlimited financial support for the next three years despite acknowledging losses in excess of $400 billion so far. The Treasury has been criticized for encroaching on spending powers that are enumerated for Congress alone by the United States Constitution, and for violating limits imposed by the Housing and Economic Recovery Act of 2008.