EN EN Results of in-depth reviews under Regulation (EU) No 1176
... particular in the form of mortgages, remains high. At present, credit growth for mortgage loans is less expansive but still outpaces GDP growth. Corporate debt is still high but decreasing in a low growth and investment context. Recent taxation reforms aim at minimising the tax-planning component of ...
... particular in the form of mortgages, remains high. At present, credit growth for mortgage loans is less expansive but still outpaces GDP growth. Corporate debt is still high but decreasing in a low growth and investment context. Recent taxation reforms aim at minimising the tax-planning component of ...
Five Strategies for a Rising-Rate Environment
... historically low fed funds rate over the next couple of years are realized, the ten-year rate need not rise materially from its current levels. In fact, long-term rates may be capped by certain structural and external factors. The most important external factor serving to dampen long-term rates is t ...
... historically low fed funds rate over the next couple of years are realized, the ten-year rate need not rise materially from its current levels. In fact, long-term rates may be capped by certain structural and external factors. The most important external factor serving to dampen long-term rates is t ...
Macroprudential policy: building financial stability
... commercial transactions for agricultural, industrial or commercial purposes’. But it barred the Fed from rediscounting paper ‘drawn for the purpose of carrying or trading in stocks, bonds or other [private] investment securities’. The Real Bills Doctrine was, therefore, a driving principle of the Fe ...
... commercial transactions for agricultural, industrial or commercial purposes’. But it barred the Fed from rediscounting paper ‘drawn for the purpose of carrying or trading in stocks, bonds or other [private] investment securities’. The Real Bills Doctrine was, therefore, a driving principle of the Fe ...
Financial Frictions, Asset Prices, and the Great Recession
... households’ ability to borrow to generate a large recession: that total wealth is plentiful and that investment and net exports are mechanisms for society to save into the future. Consequently, our model economy requires the explicit inclusion of certain ingredients to generate a large recession as ...
... households’ ability to borrow to generate a large recession: that total wealth is plentiful and that investment and net exports are mechanisms for society to save into the future. Consequently, our model economy requires the explicit inclusion of certain ingredients to generate a large recession as ...
Managing Risk under a Fixed Price Load Following Obligation for
... normalized average weekday price and load for 13 markets: for example, 0.70 for Spain, 0.58 for Britain, and 0.53 for Scandinavia. There are some markets where this price and load relationship is weak but in most markets load is the most important factor affecting price of electricity. The correlati ...
... normalized average weekday price and load for 13 markets: for example, 0.70 for Spain, 0.58 for Britain, and 0.53 for Scandinavia. There are some markets where this price and load relationship is weak but in most markets load is the most important factor affecting price of electricity. The correlati ...
Savvy Suburbanites (1D)
... power tools are popular, although they also hire contractors for the heavy lifting. ...
... power tools are popular, although they also hire contractors for the heavy lifting. ...
Fed Intervention: Managing Moral Hazard in Financial Crises
... assets related to U.S. subprime mortgages. What would become the worst financial crisis since the Depression wasn’t widely acknowledged for six more months—not by financial markets, not by policymakers.8 Since then, banks, brokerages, investment houses and hedge funds worldwide have revealed a seemi ...
... assets related to U.S. subprime mortgages. What would become the worst financial crisis since the Depression wasn’t widely acknowledged for six more months—not by financial markets, not by policymakers.8 Since then, banks, brokerages, investment houses and hedge funds worldwide have revealed a seemi ...
Money, Banking, and the Financial System
... Mortgage Association (“Fannie Mae”) and the Federal Home Loan Mortgage Corporation (“Freddie Mac”), sold bonds to investors and used the funds to purchase mortgages from banks. • Investment banks became significant participants in the mortgage market, bundling and selling mortgage-backed securities. ...
... Mortgage Association (“Fannie Mae”) and the Federal Home Loan Mortgage Corporation (“Freddie Mac”), sold bonds to investors and used the funds to purchase mortgages from banks. • Investment banks became significant participants in the mortgage market, bundling and selling mortgage-backed securities. ...
Bilateral Contracting in Liberalized Energy Markets
... Potential investors require a guaranteed stream of future revenues in order to obtain financing for those resources, therefore if they engage in bilateral contracts to sell their output they have a guaranteed flow of revenue independent from the market situation [8]. C. The Need for Risk Management ...
... Potential investors require a guaranteed stream of future revenues in order to obtain financing for those resources, therefore if they engage in bilateral contracts to sell their output they have a guaranteed flow of revenue independent from the market situation [8]. C. The Need for Risk Management ...
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.