Monthly Archives: September 2009

Additional $1.5 Trillion in Write-Downs Forecast by End of 2010 Despite Rising Securities Prices Plenty More Bank Losses Expected Globally “Actionable IOIs are simply a close cousin to the practice of flash orders and need to be looked at simultaneously” … Continue reading →

The number and complexity of special purpose entity (SPE) structures increased significantly over the prior several years through 2007 in conjunction with the growth of markets for securitisation and structured finance products, but have declined since then. It must be … Continue reading →

This paper examines the power of different contractual mechanisms to influence an originator’s choice of costly effort to screen borrowers when the originator plans to securitise its loans. The analysis focuses on three potential mechanisms: the originator holds a “vertical … Continue reading →

The notional value of derivatives held by U.S. commercial banks increased $1.5 trillion in the first quarter, or 0.7%, to $203.5 trillion. U.S. commercial banks reported revenues of $5.2 billion trading cash and derivative instruments in the second quarter of … Continue reading →

Navy seizes cocaine 'worth £240m' http://bit.ly/cQeVU # City hedge fund exodus begins http://bit.ly/z5FwJ # World Bank Chief to Take Shots at The Fed http://bit.ly/2mD8WK # Lifting the Veil of Pixel Perfection http://bit.ly/42bzfo # OAP unicycle unveiled in Japan http://bit.ly/8oRhX # … Continue reading →

Via Reuters: Fed to work with lawmakers on naming borrowers Fed says time lag would be needed to avoid disruption Fed official says ‘giving serious consideration’ to idea Barney Frank: “I do believe it’s important that there be a time … Continue reading →

From a Speech by Lorenzo Bini Smaghi, ECB Systemic stability, or the absence of systemic risk, can be seen as a public good, thereby legitimising the role of governments and other authorities in addressing it. Like pollution, systemic risk involves … Continue reading →

Testimony by Scott G. Alvarez, General Counsel Federal Reserve Transparency Before the Committee on Financial Services, U.S. House of Representatives, Washington, D.C. September 25, 2009 H.R. 1207 and Monetary Policy Independence The Congress purposefully–and for good reason–chose to exclude from … Continue reading →

Long piece (93 pages) by the ECB // Continue reading →

The Governing Council of the European Central Bank (ECB) has decided, in agreement with other central banks including the Federal Reserve, to continue conducting US dollar liquidity-providing operations from October 2009 to January 2010. These Eurosystem operations will continue to … Continue reading →