Notes from the Vault

The Center for Financial Innovation and Stability's series, Notes from the Vault

Financial Regulation: Fit for the Future?
Larry D. Wall
December 2017

This post discusses some of the research on postcrisis developments in financial regulation presented at a recent workshop hosted by the Atlanta Fed.

Risk-On/Risk-Off in the Long Run
Nikolay Gospodinov
November 2017

The post discusses the problem of reliably identifying priced risks in financial markets over short horizons. It also provides evidence on the pricing of two risks over longer horizons.

Enhanced Safety: the EU's Data Protection Rules
Larry D. Wall
Steven Zitzer
October 2017

In light of some of the issues raised by the recent breach at Equifax, this post discusses pending changes in the European Union’s data security regulations.

Government Debt Subsidies and Financial Stability
Larry D. Wall
September 2017

This post discusses a variety of government programs that encourage individuals, financial firms, and nonfinancial firms to take on more debt.

Fintech and Financial Inclusion
Larry D. Wall
August 2017

This post considers the high cost of financial products offered to individuals with low and variable income, and some ways that technology is being used to reduce costs.

Congressional Control over the Banking Agencies' Budgets
Larry D. Wall
July 2017

Congress provides an annual appropriation to most agencies but not the bank regulators. This post considers the banking agencies' budget independence and the potential consequences of ending it.

The Evolving Financial Supermarket
Larry D. Wall
June 2017

This post considers the evolving financial supermarket for consumer services: why Financial Supermarket 1.0 disappointed, some possibilities for Financial Supermarket 2.0, and even further evolution to 3.0.

Managing Global Financial Risks
Larry D. Wall
May 2017

This post discusses the Atlanta Fed's recent Financial Markets Conference on the gradual changes affecting financial market risk and some possible future shock waves that could hit markets.

Conflicts of Interest in Securitization and the U.S. Housing Crisis
W. Scott Frame
April 2017

This article assesses the recent literature on whether conflicts of interest in securitization contributed to the U.S. housing crisis.

Interest on Reserves
Larry D. Wall
February 2017

The Federal Reserve's payment of interest on reserves has generated some controversy and may result in more as rates increase. This post considers the implications of such payments.

The Revolving Door
Larry D. Wall
January 2017

The so-called revolving door between industry and the regulatory agencies is a recurring concern. This post provides a high-level overview of this issue.

Notes from the Vault was on hiatus after the March/April 2012 post; it restarted in March 2013.

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