Three years after Lehman Brothers' collapse, the global economic outlook is still murky and Europe is confronting a sovereign debt crisis that, if mishandled, could lead to renewed financial...
If reduced liquidity in FX markets was responsible for the surge in the yen that triggered the G7’s intervention, currency authorities and central banks seeking to prevent a recurrence...
The Fed published information about programs to combat the crisis. The data indicate that the PDCF (Primary Dealer Credit Facility), under which the Fed loaned money against securitized assets,...
Yen-selling intervention increases the dollar funds in our FX reserves. In the past, its majority was quickly used to buy UST. In the short term, such purchases risk undermining...
The UK has unveiled a financial regulatory reform plan that places financial regulatory authorities under the supervision of the Bank of England. Such "vertical integration" should improve coordination between...
From the perspective of individual banks, the liquidity ratio restrictions now being augmented are only meaningful to the extent that they form part of a comprehensive risk management framework...
The persistent downward pressure on prices in Japan may be attributed in part to the inefficient allocation of economic resources. Industrial policy could be utilized as a second-best measure...
Although the financial crisis is gradually receding into the past, the developed economies in 2010 have betrayed optimistic expectations that the world would return to normal once the crisis was over.
As the center of gravity for economic growth shifts, the forum for deciding the “rules” governing the global economy is moving from the G7 to the G20. Exchange rate...
The proposed changes to financial regulation require the Fed to obtain advance approval from the new Council before providing funds under Section 13-3 of the Federal Reserve Act. They...