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Press Releases


June

Featuring research published in May 2010

Finance

Did Subjectivity Play a Role in CDO Credit Ratings?
2010 Financial Markets Conference
The authors analyze CDOs and find that direct outputs from a rating agency model are more straightforward and accurate than actual ratings assigned by CDOs.

Contingent Convertible Bonds and Capital Structure Decisions
2010 Financial Markets Conference
The authors study contingent convertible bonds (CCB) to develop a formal model of their properties. The paper provides analytic propositions concerning CCB attributes and develops implications for structuring CCBs to maximize their general benefits for corporations and their specific benefits for prudential bank regulation.

Credit Ratings and the Securitization of Subprime Mortgages
2010 Financial Markets Conference
The author reviews the lessons learned from the securitization of subprime mortgages and reaches conclusions about how the experience should influence the way securitizations are structured in the future.

Markets for Financial Information
2010 Financial Markets Conference
The author highlights some aspects of markets for financial information, especially credit rating agencies.

Redefining and Containing Systemic Risk
2010 Financial Markets Conference
This article describes a series of complementary ways of redefining and containing systemic risk.

What to Do About TBTF?
2010 Financial Markets Conference
In this paper the author proposes limiting TBTF—or "too big to fail"—distortions via a combination of direct risk-restrictions and an aggressive set of risk-based capital requirements.

The Role of Macroprudential Supervision
2010 Financial Markets Conference
The author evaluates macroprudential countercyclical instruments, which may be wielded by central banks as a tool for maintaining price stability.

Podcasts

The Gulf Oil Spill (MP3 6:59)
Southeastern Economic Perspectives
Michael Chriszt, assistant vice president in the Atlanta Fed's research department responsible for the Regional Economic Information Network, discusses the oil spill in the Gulf of Mexico and its potential impact on regional economies.