Central clearinghouses have proven their understanding of risk and financial instruments, but what happens these seasoned professionals will give way to a younger cadre of whiz kids who view risk differently?
James Allen, CFA, head of Americas capital markets policy at CFA Institute, reports on Washington, D.C. financial policy issues, including a CFA Institute report on self-regulatory organizations, an Office of Financial Research report on the systemic risk of asset managers, and mortgage finance reform from an MBS investor's point of view.
While regional regulators may emphasize different regulatory approaches to shoring up the money market industry, what remains clear is their agreement that money market funds, in their current form, continue to present systemic risks.
The launch of IOSCO’s Risk Outlook report marks the first public foray into systemic risk monitoring by global securities markets supervisors.
It’s time to begin to rethink the way financial institutions are coddled and guarded from competition. The question is how to do it.
CFA Institute Financial NewsBrief readers weigh in on whether the mortgage-backed securities market needs an explicit or implicit guarantee from the U.S. government to recover the investor interest that it lost in 2008.
Does Europe’s CRD IV package strike the right balance of safeguarding the system for European banking investors and consumers while supporting economic growth?
On the surface, the derivatives deal appears like a win for the EU, but a closer look reveals that this “victory” is perhaps not quite what it seems.
Rejection of bonus limit is recognition that the investment business is not the same as a banking business and doesn’t pose the same systemic risk.
Recognizing that the old way of regulating the financial industry is no longer working, the revered financial titan is charting a new course with the “Volcker Alliance.”
In the second part of a month-long series exploring key systemic risk issues from the perspective of Paul Volcker and Sir John Vickers, we take a closer look at their views on progress in fixing regulatory gaps.
After months of delay, U.S. derivatives reform finally moved from back-burner status last week, when the Commodity Futures Trading Commission (CFTC) approved regulations aimed at forcing derivatives trading — and depending on the source, either a major culprit of or contributor to the financial crisis — out of the shadows. This means that many types of previously unregulated derivatives will now have to trade on open platforms.
Between British economist Sir John Vickers and former Federal Reserve Chair Paul Volcker, few people are more synonymous with the current debate over structural reforms of banks and reining in systemic risk. How do their approaches to reform differ?
At the recent CFA Institute Global Investment Risk Symposium, a panel of well-known experts discussed systemic risk and the current state of the industry and concluded that not all is well, yet.
Cyprus is ponderously pondering how to fill a gaping financial hole, including whether and how much to appropriate from its depositors, domestic or otherwise. Ohio, having solved its budget crisis, is considering a regular tax on savers and investors to broaden its tax base and prevent a recurrence of the $8.8 billion budget deficit it had eliminated over the past two years.
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