292 posts on "Financial Markets"
April 17, 2014
Just Released: The 2013 SOMA Annual Report in a Historical Context
Alyssa Cambron, Michael Fleming, Deborah Leonard, Grant Long, and Julie Remache In August 2013, we wrote a series of blog posts on the use of the Federal Reserve’s System Open Market Account (SOMA) portfolio in monetary policy operations. Since the onset of the financial crisis, the Federal Open Market Committee (FOMC) has increased the size […]
Liquidity Policies and Systemic Risk
One of the most innovative and potentially far-reaching consequences of regulatory reform since the financial crisis has been the development of liquidity regulations for the banking system.
Posted at 7:00 am in Financial Institutions, Financial Markets, Liquidity, Regulation, Systemic Risk | Permalink
April 15, 2014
On Fire‑Sale Externalities, TARP Was Close to Optimal
Imagine that many large and levered banks suffer heavy losses and must quickly sell assets to reduce their leverage. We expect the market price of the assets sold to decline, at least temporarily.
April 9, 2014
Lunch Anyone? Volatility on the Tokyo Stock Exchange around the Lunch Break on May 23, 2013, and Stock Market Circuit Breakers
Stock market circuit breakers halt trading activity on a single stock or an entire exchange if a sudden large price move occurs.
April 1, 2014
Mixing and Matching Collateral in Dealer Banks
The failure or near-collapse of some of the largest dealer banks on Wall Street in 2008 highlighted the profound complexity of the industry.
March 31, 2014
Measuring Global Bank Complexity
Paraphrasing a famous Supreme Court opinion: “I know bank complexity when I see it.”
Posted at 7:00 am in Banks, Euro Area, Financial Markets, International Economics, Regulation | Permalink
March 28, 2014
Evolution in Bank Complexity
In yesterday’s post, our colleagues discussed the historic changes in financial sector size.
March 27, 2014
The Growth of Murky Finance
Building upon previous posts in this series that discussed individual banks, we examine the historical growth of the entire financial sector, relative to the rest of the economy.
Posted at 7:00 am in Economic History, Financial Institutions, Financial Markets, Regulation | Permalink | Comments (3)
March 24, 2014
Convexity Event Risks in a Rising Interest Rate Environment
The rise in the ten-year Treasury rate last summer was perhaps the most dramatic since the 2003 bond market sell-off.
March 10, 2014
Has Automated Trading Promoted Efficiency in the FX Spot Market?
The relative merits of algorithmic and high-frequency trading are most often discussed in the context of equity markets.
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