Search Results
Showing results 1 to 10 of approximately 58.
(refine search)
Speech
The role of 'financial myths' in financial crises
Remarks by Eric S. Rosengren, President and Chief Executive Officer, Federal Reserve Bank of Boston, at the Boston University conference on The State of Financial Reform (panel on Lessons Learned from the Global Financial Meltdown), February 28, 2011, Boston, Massachusetts
Speech
Economic outlook : a speech at the Blair County Chamber of Commerce Breakfast Club, Altoona, PA, June 11, 2010
Presented by Charles I. Plosser, President and Chief Executive Officer, Federal Reserve Bank of Philadelphia. ; Blair County Chamber of Commerce Breakfast Club, Altoona, PA, June 11, 2010
Discussion Paper
The role of banks in the transmission of monetary policy
The transmission of monetary policy, especially in light of recent events, has received increased attention, especially with respect to the efficacy of the bank lending channel. This paper summarizes the issues associated with isolating the bank lending channel and determining the extent to which it is operational. Evidence on the effectiveness of the bank lending channel is presented, both in the United States and abroad. The paper then provides observations about the likely consequences for the effectiveness of the lending channel of the changes in the financial environment associated with ...
Journal Article
Manning the gates: migration policy in the Great Recession
During the downturn, advanced economies as well as developing countries adopted policies ranging from keeping new migrants out to encouraging resident migrants to leave.
Speech
Lessons for the future from the financial crisis.
Presentation by Eric S. Rosengren, President and Chief Executive Officer, Federal Reserve Bank of Boston, for the Massachusetts Newspaper Publishers Association Annual Meeting, Boston, Massachusetts, December 3, 2009
Journal Article
Financial crisis revives interest in special drawing rights
The financial crisis that began in mid-2007 brought renewed calls for an alternative to the U.S. dollar as the dominant reserve currency in international transactions. Several developing countries suggested greater use of special drawing rights (SDRs). ; SDRs were created in 1969 under the first amendment of the International Monetary Fund (IMF) Articles of Agreement to supplement member countries' international reserves. Nine years later, the IMF set the long-term objective of making the SDR "the principal reserve asset in the international monetary system." To date, the SDR hasn't ...
Speech
Economic outlook : a speech at the Delaware State Chamber of Commerce, DuPont Country Club, Wilmington, Delaware, May 7, 2010
Presented by Charles I. Plosser, President and Chief Executive Officer, Federal Reserve Bank of Philadelphia> Delaware State Chamber of Commerce, DuPont Country Club, Wilmington, Delaware, May 7, 2010
Journal Article
Cloud over commercial real estate is slowly lifting in Texas
Every segment of the Texas commercial property sector suffered during the recession of 2009. Demand withered for space in offices, warehouses and retail centers, pushing up vacancy rates and lowering rental rates. Private nonresidential construction dropped sharply, reaching near-record lows. The global financial crisis temporarily brought lending to a halt. Commercial-mortgage-backed securities (CMBS) lending dried up in Texas and the U.S. as it became clear that repackaging suspect loans didn't lower risk. Banks also became wary of adding CRE loans to their books, especially in Texas, where ...
Journal Article
Eleventh District banking industry weathers financial storms
In 2009, the banking industry continued to feel the fallout from the financial crisis that began in mid-2007. Some good news was revealed in recently available first-quarter data, however, which showed profitability rebounding and increases in asset-quality problems slowing down. Whether measured by profits or problems, Eleventh District banks were roughly "twice as good and half as bad" as their counterparts across the nation. Most likely, this reflects the fact that the economic downturn was less severe in the district than in other parts of the nation. ; Another noticeable difference ...
Journal Article
Risk of Business Insolvency during Coronavirus Crisis
Many businesses had amassed high levels of debt, or leverage, before the COVID-19 pandemic. Out of precaution or necessity, firms increased their borrowing further after the onset. Although the shock to those firms’ value significantly increased their risk, measured by their distance-to-default, the default risk remains relatively small for most corporate debt. Nevertheless, the amount of outstanding liabilities among firms with elevated risk of insolvency is more than two times higher than at the peak of the global financial crisis.