Viral Acharya

No Lehman Moments as Biggest Banks Deemed Too Big to Fail

There may be no government action more universally reviled in the U.S. than bank bailouts. Republicans and Democrats, financial industry lobbyists and watchdogs, Wall Street executives and President Barack Obama say taxpayers should never again rescue a failing bank.

Fire Sales Risk Requires Repo Market Reform, N.Y. Fed Paper Says

The over $2 trillion-a-day repurchase agreement market requires changes to cut risks related to sales of assets triggered by a dealer default or lenders’ perceptions that it may, according to the Federal Reserve Bank of New York.

Bank Failures Cost U.S. $88 Billion

Using a secret enforcement tool, federal regulators in 2005 tried to limit the growth of Vineyard Bank, which was making commercial real estate loans in Southern California at almost double the rate of its peers.

Stein Sees Signs of Excessive Risk Taking in Some Markets

Federal Reserve Governor Jeremy Stein said some credit markets, such as corporate debt, are showing signs of potentially excessive risk-taking, while not posing a threat to financial stability.

Bank Lobbyists Dispute $83 Billion Subsidy. They’re Wrong

The finance industry’s lobbyists have publicly challenged our estimate that the largest U.S. banks receive an annual taxpayer subsidy worth $83 billion. We’re glad for the discussion. Understanding this issue is central to fixing the global financial system.

Japan M&A, Bank Examiner ‘Secrets,’ Dark Pools: Compliance

Japan’s Financial Services Agency is seeking tougher rules governing the disclosure of information on takeovers to avoid a repeat of the Olympus Corp. accounting scandal, said Shozaburo Jimi, head of the regulator.

Secret Fed Loans Gave Banks $13 Billion Undisclosed to Congress

The Federal Reserve and the big banks fought for more than two years to keep details of the largest bailout in U.S. history a secret. Now, the rest of the world can see what it was missing.

Morgan Stanley Speculating to Brink of Collapse Got $107 Billion From Fed

As markets convulsed in September 2008, Morgan Stanley Treasurer David Wong briefed the Federal Reserve on a “dark” scenario in which the U.S. firm would need at least $10 billion of emergency loans from the central bank.

Euro Crisis Makes Fed Lender of Only Resort as Funding Ebbs

The Federal Reserve, chastised by Congress for lending money to foreign institutions including a Libyan-owned bank, is once again the lender of last resort for banks around the world it knows little about.

Bernanke Says Central Banks Should Learn More About Policy Tools

Federal Reserve Chairman Ben S. Bernanke said central bankers are working to sharpen their understanding of programs created during the financial crisis to restore liquidity and spur economic growth.

New York

Washington

Federal Reserve

Ben S. Bernanke

Asia Stocks Drop, Extend Global Rout, on Stimulus Concern

Turkish Police Retake Square Amid Clashes

S&P 500 Futures Rise With Stocks as Yen Slips, Bonds Gain

Airbus Sets A350 Flight Date as Boeing Rivalry Sharpens

Jiroemon Kimura, Oldest Man in History, Dies at 116