Views on improving the integrity of global capital markets

Systemic Risk


Money in COVID Times: A perfect storm forming for central banks?

“Money in COVID Times” is an analysis of how the role of central banks in the market and the economy has changed since 2008. From this perspective, the COVID-19 situation has only exacerbated the transformation of central banks into entities that act as lender and market maker of last resort, every time markets experience a level of stress that could reverberate across money markets, including credit and financial assets used as collateral. Together, the various stratums of money markets have replaced traditional banks as a supply chain for capital markets activity.

A Systemic Approach to Promoting Diversity

The following post summarizes some key ideas from a recent edition of the CFA Institute podcast The Sustainability Story.  CFA Institute Senior Director Matt Orsagh, CFA, CIPM, spoke with Deborah Gilshan, founder of the 100% Club… READ MORE ›

Systemic Risk Council Calls for Renewed Debate on Reforms for Financial System Stability

Ahead of a webinar Wednesday, October 14, 2020, the Systemic Risk Council (SRC) today has issued a paper on further possible measures to underpin the resilience and stability of the financial system. The webinar is titled: READ MORE ›

Is Covid-19 Make or Break for the EU?

CFA Institute Systemic Risk Council members discuss the challenges facing the EU as it responds collectively to the crisis created by Covid-19.

Should the Financial System Be Worried — Again — About Investment Fund Leverage? A review of ESMA’s Recent Consultation on Article 25 of AIFMD

CFA Institute say the total size of assets under management is not a sufficiently clear-cut measure to declare that an asset management firm could be systemic just as a bank would be by looking at its balance sheet assets.

Systemic Risk Council’s Advice for Central Banks, Banks, and Governments

The Systemic Risk Council, sponsored by CFA Institute, says the Covid-19 crisis does not need to lead to an economic meltdown. It calls on the authorities of the major economies to work together… READ MORE ›

EMIR: Regulating Systemically Important Central Counterparties

To improve the transparency and stability of the financial system in the aftermath of the global financial crisis, EMIR has imposed three new regulatory requirements.

US Treasury Report on Asset Management Affirms Position of CFA Institute

The asset management industry does not pose the same types of systemic risks to the economy as the banking industry does, and the US Treasury agrees.

Systemic Risk Council Leaders Warn Against Rolling Back Financial Reforms

With Brexit looming, parts of Dodd-Frank on the chopping block, and other stressors on the global community, now is not the time for complacency in financial reform.

Asset Management Industry: Systemically Risky or Business as Usual?

The Financial Stability Board believes there are structural vulnerabilities in asset management activities that need to be addressed even though the industry is different from other financial sectors.

MetLife Not a SIFI: What Does Decision Mean for the FSOC?

Can the FSOC meet its mandate to identify and respond to emerging financial stability threats, or has the recent court ruling and past criticism eroded its authority?

China’s Money Market Reforms Aim to Stem Risk, Allow Funds to Thrive in Fintech Era

The CSRC money market reforms balance innovation and risk, consider public feedback, and are the first refinements to a set of rulings drafted in 2004. Will they thrive?

Break up Big Banks or Tax Leverage: How Will Fed Officials Solve “Too Big to Fail”?

Minneapolis Fed President Neel Kashkari’s call to break up big banks has reopened a debate on whether the US has done enough to prevent another global financial crisis of the magnitude felt in 2008.

Systemic Risk Council Taps Ex-BoE Deputy Governor Tucker to Chair Global Group

CFA Institute takes important step to further “globalize” the Systemic Risk Council with the appointment of Sir Paul Tucker.

Hacking Away at Cybercrime to Keep Investors, Funds Safe

CFA Institute is part of a global working group on asset manager cyber resilience. The estimated annual cost of cybercrime to the world economy is more than $445 billion (almost 1% of its income).



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