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Mitigating Systemic Risk In Financial Markets Through Wall Street Reforms
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Author :United States Congress Publisher :Createspace Independent Publishing Platform ISBN 13 :9781977843845 Total Pages :66 pages Book Rating :4.8/5 (438 download)
Book Synopsis Mitigating Systemic Risk in Financial Markets Through Wall Street Reforms by : United States Congress
Download or read book Mitigating Systemic Risk in Financial Markets Through Wall Street Reforms written by United States Congress and published by Createspace Independent Publishing Platform. This book was released on 2017-10-03 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mitigating systemic risk in financial markets through Wall Street reforms : hearing before the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Thirteenth Congress, first session, on examining efforts by the SEC and CFTC to improve financial stability and reduce systemic risk in the financial markets through implementation of the Dodd-Frank Wall Street Refo
Author :United States. Congress Publisher :Createspace Independent Publishing Platform ISBN 13 :9781981745432 Total Pages :66 pages Book Rating :4.7/5 (454 download)
Book Synopsis Mitigating Systemic Risk in Financial Markets Through Wall Street Reforms by : United States. Congress
Download or read book Mitigating Systemic Risk in Financial Markets Through Wall Street Reforms written by United States. Congress and published by Createspace Independent Publishing Platform. This book was released on 2017-12-15 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mitigating systemic risk in financial markets through Wall Street reforms : hearing before the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Thirteenth Congress, first session, on examining efforts by the SEC and CFTC to improve financial stability and reduce systemic risk in the financial markets through implementation of the Dodd-Frank Wall Street Refo
Author :United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs Publisher : ISBN 13 : Total Pages :70 pages Book Rating :4.:/5 (319 download)
Book Synopsis Mitigating Systemic Risk in Financial Markets Through Wall Street Reforms by : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
Download or read book Mitigating Systemic Risk in Financial Markets Through Wall Street Reforms written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 2013 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs Publisher : ISBN 13 : Total Pages :0 pages Book Rating :4.:/5 (124 download)
Book Synopsis Mitigating Systemic Risk in Financial Markets Through Wall Street Reforms by : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
Download or read book Mitigating Systemic Risk in Financial Markets Through Wall Street Reforms written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :New York University Stern School of Business Publisher :John Wiley & Sons ISBN 13 :0470949864 Total Pages :592 pages Book Rating :4.4/5 (79 download)
Book Synopsis Regulating Wall Street by : New York University Stern School of Business
Download or read book Regulating Wall Street written by New York University Stern School of Business and published by John Wiley & Sons. This book was released on 2010-10-28 with total page 592 pages. Available in PDF, EPUB and Kindle. Book excerpt: Experts from NYU Stern School of Business analyze new financial regulations and what they mean for the economy The NYU Stern School of Business is one of the top business schools in the world thanks to the leading academics, researchers, and provocative thinkers who call it home. In Regulating Wall Street: The New Architecture of Global Finance, an impressive group of the Stern school’s top authorities on finance combine their expertise in capital markets, risk management, banking, and derivatives to assess the strengths and weaknesses of new regulations in response to the recent global financial crisis. Summarizes key issues that regulatory reform should address Evaluates the key components of regulatory reform Provides analysis of how the reforms will affect financial firms and markets, as well as the real economy The U.S. Congress is on track to complete the most significant changes in financial regulation since the 1930s. Regulating Wall Street: The New Architecture of Global Finance discusses the impact these news laws will have on the U.S. and global financial architecture.
Author :Nutrition and Forestry, Committee on Agriculture, Nutrition and Forestry United States Senate Publisher : ISBN 13 :9781478219446 Total Pages :148 pages Book Rating :4.2/5 (194 download)
Book Synopsis One Year Later - the Wall Street Reform and Consumer Protection Act: Implementation of by : Nutrition and Forestry, Committee on Agriculture, Nutrition and Forestry United States Senate
Download or read book One Year Later - the Wall Street Reform and Consumer Protection Act: Implementation of written by Nutrition and Forestry, Committee on Agriculture, Nutrition and Forestry United States Senate and published by . This book was released on 2012-07-10 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2008 the world held its breath as we watched financial markets collapse and global financial institutions crumble. By the time the crisis subsided, millions of jobs were lost. Not only did hardworking Americans lose their jobs, but many lost their homes and their life savings in the process. Make no mistake. The United States experienced an unparalleled crisis that required bold action. The reforms in the Wall Street Reform and Consumer Protection Act, and in particular in the derivatives title, were passed to protect the public, reduce systemic risk, increase transparency, and promote competition and decrease costs for companies that use these markets to hedge their risks.
Book Synopsis Financial Stability Monitoring by : Tobias Adrian
Download or read book Financial Stability Monitoring written by Tobias Adrian and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In a recently released New York Fed staff report, we present a forward-looking monitoring program to identify and track time-varying sources of systemic risk.
Book Synopsis Reinventing Financial Regulation by : Avinash Persaud
Download or read book Reinventing Financial Regulation written by Avinash Persaud and published by Apress. This book was released on 2015-06-22 with total page 261 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reinventing Financial Regulation offers an analysis of the fundamental flaws that plague the current system of financial regulation, one built around ideas of "risk-sensitivity" and "capital adequacy." Author Avinash Persaud argues that while some sensible reforms have been introduced, a fresh approach—centered on risk capacity—is required. When the entire regime is compromised, simply slapping bandages on each new wound will do nothing to cure the underlying disease. Reinventing Financial Regulation goes beyond an urgent call to fix our profoundly troubled and damaged financial markets. It is a blueprint for an effective financial regulation system that could very well save the future of finance. What would a well-regulated financial system look like? Until now, policymakers, financial experts, and leading academics have been content to avoid facing this question head–on. We have been offered piecemeal reforms that ultimately leave the global financial system exposed to different versions of the same risks that so recently brought it to its knees. The world economy literally cannot afford to dodge this question any longer. Persaud's goal to bring clarity and a powerful simplicity to the financial regulation process results in a systematic and apolitical framework for fixing the world's fractured financial industry and transforming its regulation—not just for today's financial climate, but once and for all.
Book Synopsis Wall Street and Regulation by : Samuel L. Hayes
Download or read book Wall Street and Regulation written by Samuel L. Hayes and published by Harvard Business Review Press. This book was released on 1987 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume chronicles the sweeping changes that have taken place in the regulation of the financial markets. The contributors cover fragmentation and integration in financial services, the advent of price competition in commercial banking, the increasing importance of institutions in investing, and price competition in the market for new issues of corporate securities. They also discuss Wall Street and the public interest. ISBN 0-87584-183-X: $14.95.
Book Synopsis Undue Influence by : Charles R. Geisst
Download or read book Undue Influence written by Charles R. Geisst and published by John Wiley & Sons. This book was released on 2004-11-17 with total page 338 pages. Available in PDF, EPUB and Kindle. Book excerpt: A critical look at over 80 years of conflict, collusion, and corruption between financiers and politicians Undue Influence paints a vivid portrait of the dealings between "the few", in this case members of Congress, the banking community, and the Fed, and sheds light on how radical new deregulatory measures could be introduced by unelected officials and then foisted upon Congress in the name of progress. In the process, the background of the new financial elite is examined-because they are markedly different than their predecessors of the 1920s and 1930s. Undue Influence also brings readers up to speed on other important issues, including how the financial elite has been able to perpetuate itself, how the markets lend themselves to these special interest groups, and how it is possible that after 80 years of financial regulation and regulatory bodies the same problems of financial malfeasance and fraud still plague the markets. Charles R. Geisst (Oradell, NJ) is the author of 15 books, including Wheels of Fortune (0-471-47973-X), Deals of the Century (0-471-26397-4) and the bestsellers Wall Street: A History and 100 Years of Wall Street. Geisst has taught both political science and finance, worked in banking and finance on Wall Street and in London, as well as consulted. His articles have been published in the International Herald Tribune, Neue Zurcher Zeitung, Newsday, Wall Street Journal, and Euromoney.
Book Synopsis The Dodd-Frank Wall Street Reform and Consumer Protection Act by : Marc Labonte
Download or read book The Dodd-Frank Wall Street Reform and Consumer Protection Act written by Marc Labonte and published by . This book was released on 2010 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report first discusses systemic risk issues, relating them to events in the recent crisis. It then identifies the Fed's existing powers and responsibilities for systemic risk regulation at the time of the crisis. Finally, it discusses parts of the Dodd-Frank Act involving the Fed and systemic risk, including the creation of a Financial Stability Oversight Council; regulation of systemically significant firms; resolution authority; modifications to the Fed's emergency lending authority and new disclosure requirements; the Consumer Financial Protection Bureau; the regulation of payment, clearing, and settlement systems and activities; and limits on proprietary trading.
Book Synopsis The Redistributive Effects of Financial Deregulation by : Mr.Anton Korinek
Download or read book The Redistributive Effects of Financial Deregulation written by Mr.Anton Korinek and published by International Monetary Fund. This book was released on 2013-12-17 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial regulation is often framed as a question of economic efficiency. This paper, by contrast, puts the distributive implications of financial regulation center stage. We develop a model in which the financial sector benefits from risk-taking by earning greater expected returns. However, risktaking also increases the incidence of large losses that lead to credit crunches and impose negative externalities on the real economy. We describe a Pareto frontier along which different levels of risktaking map into different levels of welfare for the two parties. A regulator has to trade off efficiency in the financial sector, which is aided by deregulation, against efficiency in the real economy, which is aided by tighter regulation and a more stable supply of credit. We also show that financial innovation, asymmetric compensation schemes, concentration in the banking system, and bailout expectations enable or encourage greater risk-taking and allocate greater surplus to the financial sector at the expense of the rest of the economy.
Book Synopsis Who Regulates Whom and How? by : Edward V. Murphy
Download or read book Who Regulates Whom and How? written by Edward V. Murphy and published by CreateSpace. This book was released on 2013-07 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial regulatory policies are of interest to Congress because firms, consumers, and governments fund many of their activities through banks and securities markets. Furthermore, financial instability can damage the broader economy. Financial regulation is intended to protect borrowers and investors that participate in financial markets and mitigate financial instability. This report provides an overview of the regulatory policies of the agencies that oversee banking and securities markets and explains which agencies are responsible for which institutions, activities, and markets. Banking U.S. banking regulation traditionally focuses on prudence. Banks' business decisions are regulated for safety and soundness and adequate capital. In addition, banks are given access to a lender of last resort, and some bank creditors are provided guarantees (deposit insurance). Regulating the risks that banks take is believed to help smooth the credit cycle. The credit cycle refers to periodic booms and busts in lending. Prudential safety and soundness regulation and capital requirements date back to the 1860s when bank credit formed the money supply. The Federal Reserve as lender of last resort was created following the Panic of 1907. Deposit insurance was established in the 1930s to reduce the incentive of depositors to withdraw funds from banks during a financial panic. Securities, Derivatives, and Similar Contract Markets Federal securities regulation has traditionally focused on disclosure and conflicts of interest, rather than on prudence. Securities regulation is typically designed to ensure that market participants have access to enough information to make informed decisions, rather than to limit the riskiness of the business models of publicly traded firms. Firms that sell securities to the public must register with the Securities and Exchange Commission (SEC). SEC registration in no way implies that an investment is safe, only that material risks have been disclosed. The SEC also registers several classes of securities market participants and firms. It has enforcement powers for certain types of industry misstatements or omissions and for certain types of conflicts of interest. Derivatives trading is supervised by the Commodity Futures Trading Commission (CFTC), which oversees trading on the futures exchanges, which have self-regulatory responsibilities as well. The Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) required more disclosures in the over-the-counter derivatives market than prior to the financial crisis and has granted the CFTC and SEC authority over large derivatives traders. Government Sponsored Enterprises The Federal Housing Finance Agency (FHFA) oversees a group of government-sponsored enterprises (GSEs). Two of the GSEs, Fannie Mae and Freddie Mac, securitize residential mortgages, and they were placed in conservatorship following mortgage losses in 2008. In the conservatorship, the Treasury provides financial support to the GSEs and FHFA and Treasury have managerial control over the enterprises. FHFA also regulates the Federal Home Loan Bank (FHLB) system. Changes Following the 2008 Financial Crisis The Dodd-Frank Act created the interagency Financial Stability Oversight Council (FSOC) and authorized a permanent staff to monitor systemic risk and consolidated bank regulation from five agencies to four. The DFA granted the Federal Reserve oversight authority and the Federal Deposit Insurance Corporation (FDIC) resolution authority over the largest financial firms. The DFA consolidated consumer protection rulemaking, which had been dispersed among several federal agencies, in the new Consumer Financial Protection Bureau. Special Topics The appendices in this report include additional information on topics, such as the regulatory structure prior to the Dodd-Frank Act, organizational differences among financial firms, and the rating system that regulators use to evaluate the health of banks.
Book Synopsis Measuring Systemic Risk-Adjusted Liquidity (SRL) by : Andreas Jobst
Download or read book Measuring Systemic Risk-Adjusted Liquidity (SRL) written by Andreas Jobst and published by International Monetary Fund. This book was released on 2012-08-01 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: Little progress has been made so far in addressing—in a comprehensive way—the externalities caused by impact of the interconnectedness within institutions and markets on funding and market liquidity risk within financial systems. The Systemic Risk-adjusted Liquidity (SRL) model combines option pricing with market information and balance sheet data to generate a probabilistic measure of the frequency and severity of multiple entities experiencing a joint liquidity event. It links a firm’s maturity mismatch between assets and liabilities impacting the stability of its funding with those characteristics of other firms, subject to individual changes in risk profiles and common changes in market conditions. This approach can then be used (i) to quantify an individual institution’s time-varying contribution to system-wide liquidity shortfalls and (ii) to price liquidity risk within a macroprudential framework that, if used to motivate a capital charge or insurance premia, provides incentives for liquidity managers to internalize the systemic risk of their decisions. The model can also accommodate a stress testing approach for institution-specific and/or general funding shocks that generate estimates of systemic liquidity risk (and associated charges) under adverse scenarios.
Book Synopsis Quantifying Systemic Risk by : Joseph G. Haubrich
Download or read book Quantifying Systemic Risk written by Joseph G. Haubrich and published by University of Chicago Press. This book was released on 2013-01-24 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the aftermath of the recent financial crisis, the federal government has pursued significant regulatory reforms, including proposals to measure and monitor systemic risk. However, there is much debate about how this might be accomplished quantitatively and objectively—or whether this is even possible. A key issue is determining the appropriate trade-offs between risk and reward from a policy and social welfare perspective given the potential negative impact of crises. One of the first books to address the challenges of measuring statistical risk from a system-wide persepective, Quantifying Systemic Risk looks at the means of measuring systemic risk and explores alternative approaches. Among the topics discussed are the challenges of tying regulations to specific quantitative measures, the effects of learning and adaptation on the evolution of the market, and the distinction between the shocks that start a crisis and the mechanisms that enable it to grow.
Book Synopsis Macro-Prudential Policies to Mitigate Financial System Vulnerabilities by : Mr.Stijn Claessens
Download or read book Macro-Prudential Policies to Mitigate Financial System Vulnerabilities written by Mr.Stijn Claessens and published by International Monetary Fund. This book was released on 2014-08-19 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Macro-prudential policies aimed at mitigating systemic financial risks have become part of the policy toolkit in many emerging markets and some advanced countries. Their effectiveness and efficacy are not well-known, however. Using panel data regressions, we analyze how changes in balance sheets of some 2,800 banks in 48 countries over 2000–2010 respond to specific macro-prudential policies. Controlling for endogeneity, we find that measures aimed at borrowers––caps on debt-to-income and loan-to-value ratios––and at financial institutions––limits on credit growth and foreign currency lending––are effective in reducing asset growth. Countercyclical buffers are little effective through the cycle, and some measures are even counterproductive during downswings, serving to aggravate declines, consistent with the ex-ante nature of macro-prudential tools.
Author :United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs Publisher : ISBN 13 : Total Pages :124 pages Book Rating :4.:/5 (319 download)
Book Synopsis Mitigating Systemic Risk Through Wall Street Reforms by : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
Download or read book Mitigating Systemic Risk Through Wall Street Reforms written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 2014 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt:
