Search Results
Journal Article
Resilience of Community Banks in the Time of COVID-19
Stress tests in December 2020 showed that the largest U.S. banks had strong capital levels and could continue to lend to households and businesses under hypothetical severe recessions. Assessing thousands of small community banks against similar criteria suggests that, while about one-fifth could fall below adequate capitalization, only a handful of those risk becoming insolvent. Overall, this is a reassuring view for small banks and their communities, suggesting that the risk of widespread bank failures leading to financial instability appears to be small.
Journal Article
How Much Did the CARES Act Help Households Stay Afloat?
Widespread job losses starting in mid-March last year forced many households to rely more heavily on nonemployment income and liquid assets on hand to continue buying what they needed. Federal assistance through the Coronavirus Aid, Relief, and Economic Security Act helped boost household resilience—the ability to sustain consumption despite the loss of employment income. Data suggest that the aid increased household resilience by 15 weeks, chiefly through enhanced unemployment insurance benefits. Among racial groups, this benefited Black and Hispanic households the most, raising median ...
Speech
Four questions on the state of cyber resilience and endpoint security: remarks at the Clearing House and Bank Policy Institute's 2018 Annual Conference, New York City
Remarks at the Clearing House and Bank Policy Institute's 2018 Annual Conference, New York City.
Discussion Paper
Risk and Resilience: How Weather-Related Disasters Impact Economically Marginalized Communities
Weather-related disaster risks have adverse economic impacts for workers, households, and communities across the country. Low-income communities and communities of color tend to be at disproportionate risk to economic disruptions from weather-related disasters. Our team surveyed and interviewed professionals in the Southeast that work with or whose work impacts these marginalized communities across core issue areas relevant to community development, resilience, and disaster risk management in the nonprofit, public, and private sectors. Respondents and interviewees shared their perceptions of ...
Speech
Principles for financial regulatory reform: remarks at the Princeton Club of New York, New York City
Remarks at the Princeton Club of New York, New York City.
Speech
The importance of incentives in ensuring a resilient and robust financial system: remarks at the U.S. Chamber of Commerce, Washington, D.C.
Remarks at the U.S. Chamber of Commerce, Washington, D.C.
Briefing
What Makes Supply Chains More Resilient to Economic Shocks?
The recent supply chain disruptions caused by COVID-19 lockdowns highlighted the importance of understanding supply chain resilience, which is the extent to which supply chains can resist, adapt to and recover from a sudden economic shock. We analyze the various COVID-19 lockdowns across India to understand which supply chains were more resilient to the lockdown disruptions. Firms that bought more complex products and that transacted with fewer and more important suppliers proved to be more resilient by maintaining buyer-supplier relationships through the lockdowns and exhibiting smaller ...
Speech
Preparing for the Unknown
Remarks at the 2021 U.S. Treasury Market Conference (delivered via videoconference).
Speech
Thrive in Any Environment: Strengthening Resilience Through Risk Management
Remarks at the Risk USA Conference, New York City.
Journal Article
“Bouncing Forward” from Disasters on Hawaiʻi’s Big Island: Lessons for Equitable Recovery and Future Resilience
Recovery planning and implementation on the island of Hawaiʻi following a federally declared disaster provides an example of equitable, forward-looking disaster preparation and resilience. Community development professionals in other geographies can learn from the way planners and nonprofits used a regional equity approach to improving household and community resilience, broke down silos to have flexible funding from multiple sources ready for future disasters, and worked to build community through “resilience hubs” that provide disaster-related and ongoing services that help promote ...