Richard Crump and João Santos The financial crisis of 2007-08 and the ensuing recession, the most severe since the 1930s, prompted a wave of regulatory reforms: tighter bank capital and liquidity rules, new failed bank resolution procedures, a stand-alone consumer protection agency, greater transparency in money market funds, central clearing of derivatives, and others as … [Read more…]
Bill Dudley will soon turn over the keys to the vault—so to speak. But before his tenure ends after nine years as president of the New York Fed, Liberty Street Economics sought to capture his parting reflections on economic research, FOMC preparation, and leadership. Publications editor Trevor Delaney recently caught up with Dudley. This transcript … [Read more…]
Ozge Akinci and Ryan Chahrour One of the major debates in open economy macroeconomics is the extent to which capital inflows are beneficial for growth. In principle, these flows allow countries to increase their consumption and investment spending beyond their income by enabling them to tap into foreign saving. Periods of such borrowing, however, are … [Read more…]
Gizem Kosar, Wilbert van der Klaauw, Olivier Armantier, and John Conlon The Tax Cuts and Jobs Act of 2017 changed the tax brackets, tax rates, credits and deductions for individuals and similarly altered corporate tax rates, deductions and exclusions. In this post, we examine whether the reform has shifted individuals’ expectations about their financial situation and … [Read more…]
One of the biggest changes to forex trading in the Eurozone just took place. What is that change? Simply put, the ESMA (European Securities & Markets Authority) passed a new regulation that would limit the leverage any European forex broker would be allowed to offer their clients. The new regulation, if implemented, would bring the … [Read more…]
RMB Usage Holding Steady in January, Unable to See Growth – SWIFT Data Shows The RMB Usage Holding could not overtake the CAD in terms of usage, falling by nearly 3% on a month-over-month basis inSWIFT, a global provider of financial messaging services,has released the latest data report from its renminbi (RMB) tracker, outlining a … [Read more…]
Binary options products were the most enquired-about category for the FCA centre in the last year. Binary options made up 17 percent of the 106,800 enquiries to the FCA’s consumer contact centre between December 2015 through November 2016, according to the regulator’s most recent data on the UK’s investment products.
London isn’t the only UK city poised to see widespread job cuts in the financial sector as the Brexit looms. Over the past year, few industries have been harder hit than the banking sector, especially in the UK as a combination of factors ranging from rising labor costs to a gradual migration towards a digitized … [Read more…]