Corporate bonds are an important source of funding for public corporations in the United States.
January 9, 2017
December 21, 2016
Hey, Economist! Tobias Adrian Reflects on His Work at the N.Y. Fed before Heading to the IMF
Tobias Adrian is leaving the New York Fed to become the Financial Counselor and Director of the Monetary and Capital Markets Department at the International Monetary Fund (IMF). In announcing Adrian’s appointment, Christine Lagarde, managing director of the IMF, described Tobias as “internationally highly regarded for his insightful analytical work.” Until he starts his new position at the beginning of 2017, Adrian will be winding down his service as Senior Vice President of the New York Fed and Associate Director of the Bank’s Research and Statistics Group. Before he moves on to the IMF, Adrian shared some insight on his time at the Bank.
December 20, 2016
At the N.Y. Fed: Capital Flows, Policy Dilemmas, and the Future of Global Financial Integration
The New York Fed recently hosted the third bi-annual Global Research Forum on International Macroeconomics and Finance, an event organized in conjunction with the European Central Bank (ECB) and the Federal Reserve Board. Bringing together a diverse group of academics, policymakers, and market participants, the two-day conference (November 17-18) was aimed at promoting discussion of frontier research on empirical and theoretical issues in international finance, banking, and open-economy macroeconomics. Understanding the drivers and implications of international capital flows was a major area of focus, along with the policy challenges posed by global financial integration.
Posted at 7:00 am in Financial Markets, International Economics, Macroeconomics, Monetary Policy | Permalink
December 19, 2016
Investigating the Proposed Overnight Treasury GC Repo Benchmark Rates
In its recent “Statement Regarding the Publication of Overnight Treasury GC Repo Rates,” the Federal Reserve Bank of New York, in cooperation with the U.S. Treasury Department’s Office of Financial Research, announced the potential publication of three overnight Treasury general collateral (GC) repurchase (repo) benchmark rates.
December 16, 2016
Just Released: Regional Business Surveys Point to Growth in Economic Activity
The latest editions of the New York Fed’s two regional business surveys point to improvement in business conditions and widespread optimism about the near-term outlook. The December Business Leaders Survey of regional service firms, released today, shows service sector activity steadying after declining for a number of months, and the December Empire State Manufacturing Survey, released yesterday, indicates that manufacturing activity increased for the first time since the summer.
December 5, 2016
Are All CLOs Equal?
Stavros Peristiani and João A.C. Santos Asset securitization is an important source of corporate funding in capital markets. Collateralized loan obligations (CLOs) are securitization structures that allow syndicated bank lenders and bond underwriters to repackage business loans and sell them to investors as securities. CLOs are actively overseen by a collateral manager that has the […]
Posted at 7:00 am in Financial Institutions, Financial Markets, Regulation | Permalink | Comments (3)
December 2, 2016
At the N.Y. Fed: Second Annual Conference on the Evolving Structure of the U.S. Treasury Market
The New York Fed recently hosted a second conference on the evolving structure of the Treasury market, co-sponsored with the U.S. Department of the Treasury, the Federal Reserve Board, the U.S. Securities and Exchange Commission (SEC), and the U.S. Commodity Futures Trading Commission (CFTC). The conference reviewed developments in the Treasury market since the Joint Staff Report on the “flash rally” of October 15, 2014, and the preceding year’s conference on the evolving structure of the Treasury market, including advances related to transaction data reporting and official perspectives on rules and regulations.
November 30, 2016
Just Released: Subprime Auto Debt Grows Despite Rising Delinquencies
The latest Quarterly Report on Household Debt and Credit from the New York Fed’s Center for Microeconomic Data showed a small increase in overall debt in the third quarter of 2016, bolstered by gains in non-housing debt. Mortgage balances continue to grow at a sluggish pace since the recession while auto loan balances are growing steadily.
November 28, 2016
At the N.Y. Fed: Convening on the Evolution of Work
Nora Fitzpatrick, Laura Pilossoph, Anika Pratt, and Aysegul Sahin The Federal Reserve Bank of New York recently hosted “The Evolution of Work,” a conference that brought together thought leaders from academia, government, industry, labor, and the nonprofit sector to explore how the nature of work is evolving, including the expanding role of technology, shifts in […]
November 21, 2016
The FRBNY DSGE Model Forecast—November 2016
This post presents the latest update of the economic forecasts generated by the Federal Reserve Bank of New York’s (FRBNY) dynamic stochastic general equilibrium (DSGE) model.
Posted at 7:00 am in DSGE, Expectations, Forecasting, Macroeconomics, Monetary Policy | Permalink | Comments (2)
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