Bank of England launches economic education quiz with £1000 cash prize
The Bank is launching an exciting competition that aims to develop people’s economic literacy in a fun and engaging way.
The PRA announces a delay to the implementation of Basel 3.1
The Prudential Regulation Authority (PRA), in consultation with HM Treasury, has decided to delay the implementation of Basel 3.1 in the UK by one year until 1 January 2027. This allows more time for greater clarity to emerge about plans for its implementation in the United States.
How tightening mortgage credit raises rents and increases inequality in the housing market
Housing affordability is at the centre of the political debate in many euro area countries. With steadily increasing rents and house prices still high relative to historical standards, many young households, particularly in large cities, are devoting an ever larger share of their income to housing expenses, and are finding it increasingly hard to access their desired size and quality of housing.
How Mutual Funds Shape Society
The power of mutual funds to influence economic and social choices through their voting behavior points to deeper ideologies driving institutional investors.
The Bank of England and the Commodity Futures Trading Commission input into report on initial margin transparency and responsiveness in centrally cleared markets
The Bank of England (the Bank) and the Commodity Futures Trading Commission (the CFTC) have co-chaired international work on centrally cleared margin practices stemming from the March 2020 market turmoil, also known as the ‘dash for cash’.
Flexible asset purchases and repo market functioning
Flexibility has progressively become a distinctive feature of the implementation of the Eurosystem’s asset purchases. In its many manifestations, flexibility has also been used by asset managers in the daily selection of sovereign bonds to limit the impact of asset purchases on repo market specialness. This study shows that, since the inception of the Public Sector Purchase Programme, flexible purchases of bonds greatly mitigated the Eurosystem’s footprint on the repo market.
We study aging family business incumbents who refuse to let go − here’s why the 2024 race felt familiar
Succession planning is one of the biggest challenges family businesses face, with aging leaders often reluctant to let go of their power.
FEDS Paper: Spatially Mapping Banks' Commercial & Industrial Loan Exposures: Including an Application to Climate-Related Risks
Benjamin N. Dennis, Gurubala Kotta, and Caroline Conley NorrisThe correlation of the spatial distribution of banking exposures with changes in spatial patterns of economic activity (e.g., internal migration, changes in agglomeration patterns, climate change, etc.) may have financial stability implications. We therefore study the spatial distribution of large U.S. banks' commercial and industrial (C&I) lending portfolios.
FEDS Paper: Impact of the Volcker Rule on the Trading Revenue of Largest U.S. Trading Firms During the COVID-19 Crisis Period
Zach Modig, Hulusi Inanoglu, and David LynchUsing a novel data collection, we examine the impact of the Volcker Rule on trading revenue of the 21 largest U.S. trading firms during the 100 day stress period centered on the COVID-19 financial crisis.
The Origins of the Modern Era of the Federal Reserve
Fifty years ago the actions of the Federal Reserve mattered. Today, so far as the aggregate measures of the American domestic economy go, they do not.
Books discussed in this essay:
Sarah Binder and Mark Spindel, The Myth of Independence: How Congress Governs the Federal Reserve. Princeton: Princeton University Press, 2017.
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