A slow, speedy death for BofA’s conduits
Bye, bye Bank of America commercial paper conduits. We knew you well.From Asset-Backed Alert:Bank of America is officially out of the business of running commercial-paper conduits....
Your guide to the Fed’s $3.3 trillion data dump
Cast your minds back to 2007, 2008 and 2009 — and think hard.You’ll need to. The Federal Reserve has just released the mother-of-all data dumps — showing who...
Winding down at the BoE
What’s this? Some good news from the Bank of England?Out this Monday — a slew of announcements related to the Old Lady’s support programmes for British credit....
One size does not fit all in ABS risk, Fed says
Risk retention requirements for Asset-Backed Securities *yawn.*But the 96-page report released by the US Federal Reserve this week — outlining the potential impact of risk...
Money market funds meet moral hazard
Cast your minds back to August 2007, when money market funds were experiencing their first major crisis. It was far less sexy than what was to follow in September 2008 —...
How Dodd-Frank travels – all the way to Canadian ABCP
DBRS’s Andrew Fitzpatrick has a wonderfully understated way of putting things:. . . it would be something between ironic and sad if the best-laid plans of the Montréal Accord,...
Eternal sunshine of the securitisation mind
It’s conference time!The 2010 Global ABS meet is currently taking place at the Hilton Metropole, just across from the Marks & Spencer on Edgware Road in London. This...
[Abacus] Tail risk in the Rhineland
The SEC's complaint against Goldman Sachs has thrust IKB, the bailed-out German bank, back into the limelight, FT Alphaville writes. IKB invested in Goldman's Abacus CDO. But how...
International Perspective on the Crisis and Response
Vice Chairman Donald L. Kohn
At the Federal Reserve Bank of Boston 54th Economic Conference, Chatham, Massachusetts
October 23, 2009
International Perspective on the Crisis and Response
I am pleased to participate in the conference discussion of the international dimensions of the recent financial crisis.1 A striking feature of the crisis was its global character. With markets for financial...
Reflections on a Year of Crisis
Chairman Ben S. Bernanke
At the Federal Reserve Bank of Kansas City’s Annual Economic Symposium, Jackson Hole, Wyoming
August 21, 2009
Reflections on a Year of Crisis
http://www.federalreserve.gov/newsevents/speech/bernanke20090821a.htm
By the standards of recent decades, the economic environment at the time of this symposium one year ago was quite challenging. A year after the onset of the current crisis in August...
