In a Relationship: Evidence of Underwriters’ Efforts to Stabilize the Share Price in the Facebook IPO
Stocks are usually offered in initial public offerings (IPOs) at a discount, leading to large first-day IPO returns.
Weakness in the U.S. IPO Market
The high valuations achieved by recent social-media- and Internet-related initial public offerings (IPOs) and their disappointing aftermarket performance have rekindled the specter of the dot-com boom and bust of the late 1990s.
The Minimum Balance at Risk: A Proposal to Stabilize Money Market Funds
In a June post, we explained why the design of money market funds (MMFs) makes them prone to runs and thereby contributes to financial instability. Today, we outline a proposal for strengthening MMFs that we’ve put forward in a recent New York Fed staff report.
Historical Echoes: It’s Not Easy Being Green
COLOURlovers is a website for people obsessed with color and design.
Tracking the U.S. Banking Industry
The New York Fed has recently published the first edition of a new quarterly report tracking the aggregate financial condition of consolidated U.S. banking organizations. In this post, we describe the methodology used to construct the statistics in the report as well as present and briefly discuss some of the findings.
Historical Echoes: “Too Big to Fail” Is One Big Phrase
It’s a book! It’s an HBO film! It’s a T-shirt! It’s the subject of one of the two top quotes of 2009!
The New Bank Resolution Regimes and “Too‑Big‑to‑Fail”
During the recent financial crisis, the absence of an orderly resolution regime forced governments of several countries to provide extraordinary support to a number of systemically important financial institutions (SIFIs) that were considered “too-big-to-fail.”
Is U.S. Monetary Policy Seasonal?
Many economic time series display periodic and predictable patterns within each calendar year, generally referred to as seasonal effects.