Bank liquidity regulation and the growth of private credit
Sebastian Doerr, Gaston Gelos and Vesa Pursiainen Following the financial crisis of 2008–09, the Basel Committee on Banking Supervision introduced global liquidity standards to mitigate the liquidity risks arising from funding illiquid assets with short-term liabilities. In the United States, these standards resulted in the introduction of the Liquidity Coverage Ratio (LCR) requirement for large […]
A World Seeking Balance
Manasa Patnam More than 80 years ago, John Maynard Keynes centered his work on the persistence of global imbalances. The great economist tried to resolve what he described as the “secular international problem” at the Bretton Woods conference in 1944 through an international clearinghouse. But the conference’s final agreement included only a weaker set of […]
Paul Krugman: What is the matter with France?
Is Europe’s #2 economy too big to save? France: 5 year CDS Source Suddenly, financial markets are treating France as the economic sick man of the Western world. Yes, interest rates have been surging everywhere. But the spike in interest rates on French government bonds over the past month has been especially large: The rise […]
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