This Finance survey examines: Regulator Probes BlackRock and Vanguard Over Huge Stakes in U.S. Banks – The WSJ reports that ‘The FDIC is scrutinizing whether the index-fund giants are sticking to passive roles when it comes to their investments in U.S. banks.' (a) The exemption of passive asset managers from banking rules - such as needing permission when they acquire shares above the 10% threshold - generates measurable risks to the accomplishment of the FDIC's mission
Keyword: financial stability
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bailouts balance sheet balanced budget bank failures bank finance Bank of England bank regulation bank runs banking banking crises banking rules banking sector banking union bankruptcy banks bans behavioral economics behavioral finance benefits betting Big Tech Bitcoin board quotas bonds bonuses book market border adjustment tax borrowing and lending Brexit budget deficits budget scoring bundling bureaucracy business cycles buy American
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data data protection debt debt brake debt ceiling debt obligations debt relief debt support debt sustainability debt-to-GDP ratio default defaults defense economics defense spending deflation DEI democracy democratic legitimacy Department of Education dependency ratio deposit insurance destination-based cash flow tax destintation-based cash flow tax Detroit developing countries developing economies development economics digital currency digital economy digital infrastructure digital markets Digital Markets Act digital service providers digital services discount rates discrimination disease diseases disruption distributional effects diversification diversity dollar dollarization dominant firms doom loops drought drug prices drug use duration dutch disease dynamic scoring
early years earnings Eastern Europe economic agents economic geography economic growth economic history economic insecurity economic integration economic performance economic performance; electoral cycles; government policy; political economy; public policy; voters economic principles economic recovery economic reseach economic stimulus Economics 101 economists education educational quality efficiency efficient markets elections electoral cycles electric vehicles emerging markets empirical economics employees employment employment contracts employment effects employment protection end-of-day trading energy energy policy environmental regulation equal pay equities equity equity injections equity risk premium ESG ESMA essential goods ethanol EU budget euro euro exit Europe European Central Bank European champions European Commission European recovery fund European Union Europen Union Eurozone ex-ante regulation exchange rate adjustment exchange rates exchange-traded products executive compensation expectations experiments export restrictions exports externalities extreme weather
Facebook faculty pay fairness family size Fannie Mae fast-track authority FDIC federal regulations Federal Reserve fee caps fee transparency fees fiduciary duty financial crises financial crisis financial markets financial performance financial policy financial regulation financial regulations bank runs financial services financial stability finished good prices firm capabilities firm finances firm location first past the post fiscal benefits fiscal cliff fiscal councils fiscal deficit fiscal deficits fiscal policy fiscal rules fiscal stimulus fiscal sustainability floods food prices food security forecasting foreign aid foreign direct investment fossil fuels fracking France Freddie Mac free markets free movement free trade full capacity fund performance fundamental value fungibility
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hard drugs health insurance health outcomes healthcare costs healthcare quality healthcare reform hedge funds high-skill workers high-skilled workers higher education hihg-debt countries holidays household finances household welfare households housing markets human capital hurricanes
ideas illegal activities immigrant visas immigration import duties import restrictions imports impossibility theorem incentives income inequality income support income tax increasing returns to scale incumbents index funds indexing industrial polic industrial policy inequality inflation inflation target inflation-indexed bonds inflation-linked bonds information infrastructure innovation input prices inside information Instagram institutions insurance intellectual property interest rates intergenerational mobility intermediate goods intermediation international agreements international monetary system internet internet: profits investment investment grade investment management investment policy investment portfolio investment returns invisible hand Ireland Italy
labor force participation labor income labor market labor market flexibility labor markets labor productivity labor regulations labor supply Laffer curve laissez-faire land use land value tax landlords law and economics legacy preference legal liability legalisation legislative proposals lender of last resort leverage liabilities liberal democracy licensing life expectancy life outcomes liquefied natural gas liquidity listings listings securities exchanges living standards llong-term borrowing loan relief loans lobbying local government lockdowns London long-term borrowing lotteries low-income low-income households low-skill workers LTCM Luxembourg
macroeconomic stability macroprudential policy Maine majority rule mandated disclosures manufacturing marginal tax rates marijuana mark to market market anomalies market cap market concentration market dominance market efficiency market indices market intervention market microstructure market power market quality market volatility maturity transformation maximum sustainable employment Medicaid medical debt medical research Medicare medium of exchange mega-banks mergers mergers & acquisitions mergers and acquisitions Mexico Microsoft migration minimum retirement age minimum wage minimum wage|labor market|low-skill workers|unemployment|productivity||||| mismeasurement mobility Modern Monetary Theory monetary policy money creation money market funds monopsony power moral hazard mortality mortgages museums music events mutual funds
NAFTA Nash equilibrium national debt national security natural disasters natural gas natural resources net neutrality net zero Netherlands network externalities new entry New York Nippon Steel Nobel Prize Nobel Prize in Economic Sciences Nobel Prize in Economics non-bank financial intermediaries non-compete clauses non-tariff barriers Northern Ireland Norway nudge policies
OASI trust fund obesity occupational choice occupational licensing offshore accounts offshoring oil prices Omicron online sales online sales tax open economies order execution output gap outsourcing overheating
panics passive investing patent trolls patents payday lending payroll taxes peer review Pell grants pension funds pensions personal finance pharmaceutical industry physical infrastructure physical risks platforms policy advice policy entrepreneurs political appointments political economy pollution populism portfolio allocation portfolio diversification portfolio management portfolio theory Portugal poverty poverty reduction pre-school education prescription drugs President Biden President Obama President Trump price cap price caps price controls price gouging primary voting private credit private equity private firms private funds private schools privatization product quality production production capacity productivity professional sports teams profitability profits prohibition property rights property taxes protectionism psychology public corporations public debt public finances public goods public health public investment public ownership public policy public procurement public revenues public schools public transport public utilities publishers purchasing power
R&D R&D spillovers race radiospectrum random audits randomized control trials ranked-choice voting rationality real estate real wages recession recovery redemptions redistribution referendum refugees regressive tax regulation regulations remuneration renewable energy renminbi rent control rent-seeking repatriated profits reserve currency resilience resource allocation retail retail investors retirees retirement retirement age retirement benefits return on investment returns returns to education ride-sharing ride-sharing caps risk management risk-return risk-taking robots rule of law rules runs Russia
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targeting tariffs tax avoidance tax competition tax credits tax cuts tax deductions tax enforcement tax evasion tax harmonization tax incentives tax rates tax reform tax revenues taxes taxis taxonomy taxpayer guarantees teaching tech compaies tech companies technological change Technology telecommunications telecoms terrorists Tesla test scores testing textbooks theory ticket resale TikTok time consistency Time Warner too big to fail tourism tournaments trade agreements trade balances trade barriers trade deficits trade embargo trade liberalization trade policy trade sanctions trade war trade wars trading rules training transition economies transparency transport transport networks travel travel bans Treasury bonds tulipmania TV fees twin deficits Twitter
Uber UK Ukraine uncertainty undergraduate economics unemployment unemployment insurance uninsured deposits unions universal basic income universities urban development urban neighborhoods US states US Steel US Treasuries
This Finance survey examines: (a) September 2023 was the 25th anniversary of the collapse of Long-Term Capital Management (LTCM). In response to LTCM's troubles, the Federal Reserve orchestrated a multi-billion dollar rescue package by a consortium of banks and it cut the Federal funds rate target by 75 basis points within six weeks. The hedge fund sector's contribution to systemic risk is substantially lower today than at the time of LTCM; (b) Financial market participants' expectation that the Fed will aggressively ease monetary policy in response to financial market dislocations is a substantial source of financial instability.
This US survey examines (a) Non-bank financial intermediaries pose a substantial threat to financial stability; (b) Regulating the leverage and liquidity of non-bank financial intermediaries would substantially improve financial stability; (c) Given current regulations, non-bank financial intermediaries should not have access to central bank support
This European survey examines (a) Non-bank financial intermediaries pose a substantial threat to financial stability; (b) Regulating the leverage and liquidity of non-bank financial intermediaries would substantially improve financial stability; (c) Given current regulations, non-bank financial intermediaries should not have access to central bank support
This Finance survey examines (a) Financial regulators in the US and Europe lack the tools and authority to deter runs on banks by uninsured depositors; (b) Not guaranteeing uninsured deposits at Silicon Valley Bank in full would have created substantial damage to the US economy; (c) Fully guaranteeing uninsured deposits at Silicon Valley Bank substantially increases banks’ incentives to engage in excessive risk-taking
This European survey examines (a) Financial regulators in the US and Europe lack the tools and authority to deter runs on banks by uninsured depositors; (b) Not guaranteeing uninsured deposits at Silicon Valley Bank in full would have created substantial damage to the US economy; (c) Fully guaranteeing uninsured deposits at Silicon Valley Bank substantially increases banks’ incentives to engage in excessive risk-taking
This US survey examines (a) Financial regulators in the US and Europe lack the tools and authority to deter runs on banks by uninsured depositors; (b) Not guaranteeing uninsured deposits at Silicon Valley Bank in full would have created substantial damage to the US economy; (c) Fully guaranteeing uninsured deposits at Silicon Valley Bank substantially increases banks’ incentives to engage in excessive risk-taking
This Finance survey examines (a) The collapse of a major crypto intermediary will have little impact on the wider economy and the stability of the traditional financial system; (b) The collapse of a major crypto intermediary suggests the need for the crypto asset class to be more tightly regulated.
This European survey examines (a) The UK’s removal of the cap on bankers' bonuses (introduced by the EU in 2014 and which limits payouts to two times annual base salary) will provide a measurable boost to the country’s economic growth; (b) Removing the cap on bankers' bonuses will measurably enhance the global competitiveness of the UK’s financial services sector; (c) Removing the cap on bankers' bonuses will pose a measurable risk to financial stability in the UK.
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