Sky Blog
The Basel Committee on Banking Supervision (BCBS) on December 10th issued the second iteration of its proposed revisions to the standardized approach (SA) for credit risk measurement. Following up on last year’s initial issuance, the proposed revisions are intended …
The conventional story around the Gramm-Leach-Bliley Act is that it was the final blow in bringing down the Glass-Steagall Act wall that separated commercial and investment banking in 1999, increasing risky business activities by commercial banks and inadvertently precipitating the …
The global financial crisis forced regulators to realize that traditional monetary measures cannot adequately ensure financial stability. As an alternative, macroprudential policy can complement and supplement monetary policy in dealing with macroeconomic as well as stability issues. Yet the debate …
Thank you to the organizers and BIS for the opportunity to address this research conference on “Global Financial Interconnectedness.” The OFR was established to identify, monitor, and assess threats to financial stability, so improving our collective understanding of the interconnectedness …
The Dodd-Frank Act charged the Consumer Financial Protection Bureau with ensuring that consumers “understand the costs, benefits, and risks” associated with financial products and services. Despite this ambitious mandate, and despite the Bureau’s self-branding as a “21st century agency,” the …
“Poverty should be eradicated, not seen as a money-making opportunity.”[1]
–Mohamed Yunus, founder of the Grameen Bank,
and winner of the 2006 Nobel Peace Prize.
Social finance makes a compelling promise, to make the world a better place by …