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Financial Regulatory Reform  E-mail

This is a list of some of the many voices in the current debate over regulatory reform. There is a diversity of well reasoned ideas on this discussion. One common theme, however, is the urgency of significant reform.

CE-NIF Documents

  • Committee to Establish the NIF, 2009, "Argument for Data Management in support of the NIF mission for improved oversight and safeguarding of the modern financial system", CE-NIF. [URL]
  • Committee to Establish the NIF, 2009, "Argument for Research and Analytics in support of the NIF mission for improved oversight and safeguarding of the modern financial system", CE-NIF. [URL]
  • Committee to Establish the NIF, 2009, "Data Requirements and Feasibility for Systemic Risk Oversight", CE-NIF. [URL]
  • Committee to Establish the NIF, 2009, "Data Security considerations in support of the NIF mission for improved oversight and safeguarding of the modern financial system", CE-NIF. [URL]
  • Liechty, John, 2009, "Systemic Risk and Transparency", CE-NIF. [URL]
  • Mendelowitz, Allan, 2009, "Providing the Data and Tools Needed to Safeguard the U.S. Financial System", CE-NIF. [URL]
  • Mendelowitz, Allan, 2009, "Out with the Outsourcing of Regulation", CE-NIF. [URL]

External Resources on Regulatory Reform

  • Acharya, Viral, Lasse Pedersen, Thomas Philippon, and Matthew Richardson, 2009, "Regulating Systemic Risk", Wiley, 283-304. [URL]
  • Acharya, Viral, and Matthew Richardson, 2009, "Repairing a Failed System", VoxEU.org. [URL]
  • Acharya, Viral, and Matthew Richardson, 2009, "Government Guarantees: Why the Genie Needs to Be Put Back in the Bottle", The Economists' Voice, 6. [URL]
  • Acharya, Viral, and Matthew Richardson, (ed.), 2009, "Restoring Financial Stability: How to Repair a Failed System", Wiley. [URL]
  • Alessandri, Piergiorgio, and Andrew G. Haldane, 2009, "Banking on the State", Bank of England. [URL]
  • Baily, Martin Neil, 2009, "Consumer financial protection: advantages, dangers and should it be a new agency?", The Pew Charitable Trusts. [URL]
  • Bank for International Settlements, 2009, "Guidance to Assess the Systemic Importance of Financial Institutions, Markets and Instruments: Initial Considerations—Background Paper, Report to the G-20 Finance Ministers and Central Bank Governors", BIS. [URL]
  • Bank for International Settlements, 2009, "Report to G20 Finance Ministers and Governors, Guidance to Assess the Systemic Importance of Financial Institutions, Markets and Instruments: Initial Considerations", BIS. [URL]
  • Bank of England, 2009, "The role of macroprudential policy", Bank of England. [URL]
  • Basel Committee on Banking Supervision, BIS, 2009, "International framework for liquidity risk measurement, standards and monitoring", BIS. [URL]
  • Basel Committee on Banking Supervision, BIS, 2009, "Strengthening the resilience of the banking sector", BIS. [URL]
  • Blanchard, Olivier, Jaime Caruana, and Reza Moghadam, 2009, "Initial Lessons of the Crisis", IMF. [URL]
  • Bookstaber, Richard, 2008, "Testimony of Richard Bookstaber submitted to the Senate of the United States, Senate Banking, Housing and Urban Affairs Subcommittee on Securities, Insurance and Investment, for the Hearing: "Risk Management and Its Implications for Systematic Risk", June 19, 2008", U.S. Senate. [URL]
  • Bookstaber, Richard, 2007, "Testimony of Richard Bookstaber Submitted to the Congress of the United States, House Financial Services Committee for the Hearing: "Systemic Risk: Examining Regulators Ability to Respond to Threats to the Financial System", October 2, 2007", U.S. House of Representatives. [URL]
  • Borio, Claudio, 2009, "The macroprudential approach to regulation and supervision", VoxEU.org. [URL]
  • Brennan, John, 2009, "Report of the Money Market Working Group", Investment Company Institute. [URL]
  • Brunnermeier, Markus K, Andrew Crockett, Charles A Goodhart, Avinash Persaud, and Hyun Song Shin, 2009, "The Fundamental Principles of Financial Regulation, Geneva Report on the World Economy 11", Centre for Economic Policy Research. [URL]
  • Brunnermeier, Markus K., Andrew Crockett, Charles A. Goodhart, Avinash D. Persaud, and Hyun Song Shin, 2009, "The Fundamental Principles of Financial Regulation", International Center for Monetary and Banking Studies. [URL]
  • Buiter, Willem, 2009, "Lessons from the global financial crisis for regulators and supervisors", Financial Times, May. [URL]
  • Buiter, Willem, 2009, "Lessons from the global financial crisis for regulators and supervisors", London School of Economics and Political Science. [URL]
  • Bullard, James, Christopher J. Neely, and David Wheelock, 2009, "Systemic Risk and the Financial Crisis: A Primer", Federal Reserve Bank of St. Louis Review, September, 91, 403-418. [URL]
  • Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin), 2009, "De-Larosière-Gruppe will Aufsicht in Europa neu strukturieren", BaFinJournal, March, 2009, 10-11. [URL]
  • Calomiris, Charles, 2009, "Reassessing the Regulatory Role of the Fed: Grappling with the Dual Mandate and More?", The Pew Charitable Trusts. [URL]
  • Caprio, Gerald, 2010, "Safe and Sound Banking: A Role for Countercyclical Regulatory Requirements?", World Bank. [URL]
  • Cecchetti, Stephen, 2009, "Rescue, recovery, reform", VoxEU.org. [URL]
  • Cecchetti, Stephen, 2007, "Preparing for the next financial crisis", VoxEU.org. [URL]
  • Cochrane, John, and Luigi Zingales, 2009, "Lehman and the Financial Crisis", Wall Street Journal, September. [URL]
  • Cohen, H. Rodgin, and Morris Goldstein, 2009, "The Case for an Orderly Resolution Regime for Systemically-Important Financial Institutions", The Pew Charitable Trusts. [URL]
  • Committee on Capital Markets Regulation, 2009, "The Global Financial Crisis: A Plan for Regulatory Reform", CCMR. [URL]
  • Committee on Capital Markets Regulation, 2009, "Recommendations for Reorganizing the U.S. Financial Regulatory Structure", CCMR. [URL]
  • Committee on Capital Markets Regulation, 2009, "A Pragmatic Approach to the Phased Consolidation of Financial Regulation in the United States", CCMR. [URL]
  • Committee on Market Best Practices, 2008, "Final Report of the IIF Committee on Market Best Practices: Principles of Conduct and Best Practice Recommendations", Institute of International Finance. [URL]
  • Congressional Oversight Panel, 2009, "Special Report on Regulatory Reform: Modernizing the American Financial Regulatory System: Recommendations for Improving Oversight, Protecting Consumers, and Ensuring Stability", Congressional Oversight Panel. [URL]
  • Congressional Oversight Panel, 2009, "Foreclosure Crisis: Working Toward a Solution", Congressional Oversight Panel. [URL]
  • Corrigan, E. G., and D. J. Flint, 2008, "Containing Systemic Risk: The Road to Reform", Counterparty Risk Management Policy Group III. [URL]
  • Crockett, Andrew, 2000, "Marrying the micro- and macro-prudential dimensions of financial stability", BIS. [URL]
  • Data Governance Council, 2009, "XBRL for Risk Reporting". [URL]
  • Data Governance Council, 2009, "XBRL Risk Taxonomy Forum". [URL]
  • de la Torre, Augusto, and Alain Ize, 2009, "Regulatory Reform: Integrating Paradigms", World Bank. [URL]
  • de Larosière, Jacques, 2009, "The High-Level Group on Financial Supervision in the EU", European Union. [URL]
  • Director of Central Intelligence, 2000, "Protecting Sensitive Compartmented Information within Information Systems (DCID 6/3) - Manual", Central Intelligence Agency. [URL]
  • Director of Central Intelligence, 2000, "Protecting Sensitive Compartmented Information within Information Systems (DCID 6/3) - Appendices", Central Intelligence Agency. [URL]
  • Director of Central Intelligence, 1999, "Protecting Sensitive Compartmented Information within Information Systems (DCID 6/3) - Policy", Central Intelligence Agency. [URL]
  • Duffie, Darrell, 2009, "The Failure Mechanics of Dealer Banks", Stanford University. [URL]
  • Duffie, Darrell, 2009, "How Should We Regulate Derivatives Markets", Pew Financial Reform Task Force. [URL]
  • European Parliament, 2004, "Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments amending Council Directives 85/611/EEC and 93/6/EEC and Directive 2000/12/EC of the European Parliament and of the Council and repealing Council Directive 93/22/EEC", Official Journal of the European Union, April, 47, 1-44. [URL]
  • Farmer, J. Doyne, and Duncan Foley, 2009, "The economy needs agent-based modelling", Nature, August, 460, 685-686. [URL]
  • Ferguson, Roger W., Richard Portes, Philipp Hartmann, and Fabio Panetta, 2007, "International Financial Stability, Geneva Report on the World Economy 9", Centre for Economic Policy Research. [URL]
  • Financial Services Roundtable, 2009, "Six Principles for Financial Regulatory Reform", Financial Services Roundtable. [URL]
  • Financial Services Roundtable, 2009, "Roundtable Architecture Proposal", Financial Services Roundtable. [URL]
  • Financial Stability Forum, 2008, "Report of the Financial Stability Forum on Enhancing Market and Institutional Resilience", Financial Stability Forum. [URL]
  • Financial Stability Forum, 2008, "Report of the Financial Stability Forum on Enhancing Market and Institutional Resilience Follow-up on Implementation", FSF. [URL]
  • Fresh, Adriane, and Martin Neil Baily, 2009, "What does international experience tell us about regulatory consolidation?", The Pew Charitable Trusts. [URL]
  • G20 Working Group 1, 2009, "Enhancing Sound Regulation and Strengthening Transparency", G-20. [URL]
  • General Accounting Office, 2009, "Financial Regulation: A Framework for Crafting and Assessing Proposals to Modernize the Outdated U.S. Financial Regulatory System", GAO. [URL]
  • General Accounting Office, 2009, "Financial Regulation: Review of Regulators’ Oversight of Risk Management Systems at a Limited Number of Large, Complex Financial Institutions", GAO. [URL]
  • General Accounting Office, 2009, "SystemicRisk: Regulatory Oversight and Recent Initiatives to Address Risk Posed by Credit Default Swaps", GAO. [URL]
  • General Accounting Office, 2008, "HedgeFunds: Regulators and Market Participants Are Taking Steps to Strengthen Market Discipline, but Continued Attention Is Needed", GAO. [URL]
  • General Accounting Office, 2007, "Financial Regulation: Industry Trends Continue to Challenge the Federal Regulatory Structure", GAO. [URL]
  • General Accounting Office, 1994, "Financial Derivatives: Actions Needed to Protect the Financial System", GAO. [URL]
  • Gerlach, Stefan, Alberto Giovannini, Cédric Tille, and José Viñals, 2009, "Are the Golden Years of Central Banking Over? The Crisis and the Challenges, Geneva Report on the World Economy 10", Centre for Economic Policy Research. [URL]
  • Grody, Allan, 2009, "Infrastructure issues in the securities industry: The case for a central counterparty for data management", Journal of Securities Operations and Custody, October, 2, 202-224. [URL]
  • Group of Thirty, 2009, "Financial Reform: A Framework for Financial Stability", Group of Thirty. [URL]
  • Gründl, Helmut, and Thomas Post, 2009, "Transparency through Financial Claims with "Fingerprints": A Mechanism for Preventing Financial Crises", Financial Analysts Journal, September/October, 65, 17-23. [URL]
  • Haldane, Andrew G., 2009, "Rethinking the Financial Network", Bank of England. [URL]
  • Haldane, Andrew G., 2009, "Why Banks Failed the Stress Test", Bank of England. [URL]
  • Harrington, Scott E., 2009, "The Financial Crisis, Systemic Risk, and the Future of Insurance Regulation", Journal of Risk and Insurance, December, 76, 785-819. [URL]
  • Herring, Richard, 2009, "Policy Issues Concerning the Reform of the Credit Rating Agencies", The Pew Charitable Trusts. [URL]
  • Hoenig, Thomas M., Charles S. Morris, and Kenneth Spong, 2010, "Resolution Process for Financial Companies that Pose Systemic Risk to the Financial System and Overall Economy", Hoover Press, Stanford University. [URL]
  • Hu, Henry T. C., 2009, "The Modern Process of Financial Innovation and the Regulation of OTC Derivatives: OTC Derivatives: Modernizing Oversight to Increase Transparency and Reduce Risks, U.S. Senate Banking Committee - Subcommittee on Securities, Insurance, and Investment, June 21, 2009 Written Testimony of Henry T. C. Hu", U.S. Senate. [URL]
  • Hu, Henry T. C., 1993, "Misunderstood Derivatives: The Causes of Informational Failure and the Promise of Regulatory Incrementalism", Yale Law Journal, 102, 1457-1513. [URL]
  • Hubbard, R. Glenn, 2009, "Finding the Sweet Spot for Effective Regulation", The Economists' Voice, November, 6, 1-5. [URL]
  • Hunter, William Curt, George G. Kaufman, and Michael Pomerleano, (ed.), 2005, "Asset Price Bubbles: The Implications for Monetary, Regulatory, and International Policies", The MIT Press. [URL]
  • IBM, Global Business Services, 2009, "Addressing Financial Services Challenges in the Wake of the Current Crisis: The Role of Information Technology", IBM. [URL]
  • Issing, Otmar, Jörg Asmussen, Jan Pieter Krahnen, Klaus Regling, Jens Weidmann, and William White, 2009, "New Financial Order Recommendations by the Issing Committee, Part II (March 2009)", Center for Financial Studies, Goethe-Universität Frankfurt. [URL]
  • Kane, Edward J., 2009, "The Importance of Monitoring and Mitigating the Safety-Net Consequences of Regulation-Induced Innovation", Networks Financial Institute at Indiana State University. [URL]
  • Kaufman, Henry, 2009, "The Road to Financial Reformation: Warnings, Consequences, Reforms", Wiley. [URL]
  • Kawai, Masahiro, and Michael Pomerleano, 2009, "International financial stability architecture for the 21st century", VoxEU.org. [URL]
  • Levitin, Adam J., 2009, "The Consumer Financial Protection Agency", The Pew Charitable Trusts. [URL]
  • Litan, Robert, 2009, "Regulating Systemic Risk", Brookings Institution. [URL]
  • Litan, Robert E., 2009, "Whither Financial Reform?", The Economists' Voice, October, 6, 1-5. [URL]
  • Lo, Andrew W., 2009, "Regulatory Reform in the Wake of the Financial Crisis of 2007–2008", Journal of Financial Economic Policy, 1, 4-43. [URL]
  • Lo, Andrew W., 2008, "Hedge Funds, Systemic Risk, and the Financial Crisis of 2007–2008, Written Testimony of Andrew W. Lo, Prepared for the U.S. House of Representatives Committee on Oversight and Government Reform November 13, 2008 Hearing on Hedge Funds", U.S. House of Representatives Committee on Oversight and Government Reform. [URL]
  • Markowitz, Harry M., 2009, "Proposals Concerning the Current Financial Crisis", Financial Analysts Journal, January/February, 65, 25-27. [URL]
  • McDonald, Gordon, 2009, "Comparing the Paulson Blueprint with the Geithner White Paper", The Pew Charitable Trusts. [URL]
  • Mishkin, Frederic S., and Eugene N. White, 2002, "U.S. Stock Market Crashes and Their Aftermath: Implications for Monetary Policy", NBER. [URL]
  • Morley, John D., and Roberta Romano, 2009, "The Future of Financial Regulation", Yale University Law School. [URL]
  • NASAA Financial Services Regulatory Reform Roundtable, 2008, "A Main Street Agenda for Wall Street Reform", North American Securities Administrators Association (NASAA). [URL]
  • National Institute for Standards, and , 2009, "Special Report 800-53: Recommended Security Controls for Federal Information Systems and Organizations", NIST. [URL]
  • Novoa, Alicia, Jodi Scarlata, and Juan Solé, 2009, "Procyclicality and Fair Value Accounting", International Monetary Fund. [URL]
  • Patterson, Aubrey, 2009, "Testimony of Aubrey B. Patterson on behalf of the American Bankers Association before the Committee on Banking, Housing and Urban Affairs, United States Senate", American Bankers Association. [URL]
  • Pellerin, Sabrina R., John R. Walter, and Patricia E. Wescott, 2009, "The Consolidation of Financial Regulation: Pros, Cons, and Implications for the United States", Economic Quarterly (Fed. Res. Bank of Richmond), Spring, 95, 121-160. [URL]
  • Persaud, Avinash, 2009, "The rise and apparent fall of macro-prudential regulation", VoxEU.org. [URL]
  • Poole, William, 2009, "Moral Hazard: The Long-Lasting Legacy of Bailouts", Financial Analysts Journal, November/December, 65, 1-7. [URL]
  • Posner, Richard A., 2009, "A Failure of Capitalism: The Crisis of '08 and the Descent into Depression", Harvard University Press. [URL]
  • Posner, Richard A., 2009, "Financial Regulatory Reform: The Politics of Denial", The Economists' Voice, November, 6, 1-5. [URL]
  • Pozen, Robert, 2009, "Too Big to Save? How to Fix the U.S. Financial System", Wiley. [URL]
  • Reinganum, Marc R., 2009, "Setting National Priorities: Financial Challenges Facing the Obama Administration", Financial Analysts Journal, March/April, 65, 32-35. [URL]
  • Reinhart, Carmen M., and Kenneth Rogoff, 2009, "This Time is Different: Eight Centuries of Financial Folly", Princeton University Press. [URL]
  • Rivlin, Alice, 2009, "Systemic Risk and the Role of the Federal Reserve", The Pew Charitable Trusts. [URL]
  • Roberts, Russell, 2009, "How Little We Know: The Challenges of Financial Reform", The Economists' Voice, November, 6. [URL]
  • Rochet, Jean-Charles, 2008, "Why Are There So Many Banking Crises? The Politics and Policy of Bank Regulation", Princeton University Press. [URL]
  • Rowe, David, 2009, "Fostering Opacity", Risk Magazine, July. [URL]
  • Ryan, T. Timothy, 2009, "Testimony of T. Timothy Ryan, Jr., President and CEO of the Securities Industry and Financial Markets Association, before the U.S. House of Representatives, Committee on Financial Services, Hearing on: Perspectives on Regulation of Systemic Risk in the Financial Services Industry, March 17, 2009", Securities Industry and Financial Markets Association, SIFMA. [URL]
  • Sahlman, William A., 2009, "Management and the Financial Crisis (We have met the enemy and he is us …)", Harvard University. [URL]
  • Senior Supervisors Group, 2009, "Observations on Management of Recent Credit Default Swap Credit Events", Federal Reserve Bank of New York. [URL]
  • Senior Supervisors Group, 2009, "Risk Management Lessons from the Global Banking Crisis of 2008", Federal Reserve Bank of New York. [URL]
  • Senior Supervisors Group, 2008, "Observations on Risk Management Practices during the Recent Market Turbulence", Federal Reserve Bank of New York. [URL]
  • Sexton, Martin, 2005, "The Road to Standards Nirvana", In: Handbook of World Stock, Derivative and Commodity Exchanges, 2005 edition, Mondo Visione, Ltd., xci-xciv. [URL]
  • Shiller, Robert J., 2008, "The Subprime Solution: How Today's Global Financial Crisis Happened, and What to Do about It", Princeton University Press. [URL]
  • Shinkle, Kirk, 2009, "Andrew Lo on Hedge Fund Regulation and Fixing Finance", Seeking Alpha, March, 2009, 1. [URL]
  • Sibert, Anne, 2010, "A systemic risk warning system", VoxEU.org. [URL]
  • Sjostrom, William K., 2009, "The AIG Bailout", Washington and Lee Law Review, Vol. 66, p., 66, 943-991. [URL]
  • Sobel, Mark, 2009, "The International Framework for Modernizing Financial Regulation, Prepared Statement of Mark Sobel, Acting Assistant Secretary for International Affairs, U.S. Department of Treasury, Senate Committee on Banking, Housing, and Urban Affairs, Subcommittee on Security and International Trade and Finance, September 30, 2009", U.S. Senate. [URL]
  • Squam Lake Working Group on Financial Regulation, 2009, "A New Information Infrastructure for Financial Markets", Council on Foreign Relations, Center for Geoeconomic Studies. [URL]
  • Squam Lake Working Group on Financial Regulation, 2009, "Reforming Capital Requirements for Financial Institutions", Council on Foreign Relations, Center for Geoeconomic Studies. [URL]
  • Squam Lake Working Group on Financial Regulation, 2009, "An Expedited Resolution Mechanism for Distressed Financial Firms: Regulatory Hybrid Securities", Council on Foreign Relations, Center for Geoeconomic Studies. [URL]
  • Squam Lake Working Group on Financial Regulation, 2009, "A Systemic Regulator for Financial Markets", Council on Foreign Relations, Center for Geoeconomic Studies. [URL]
  • Statman, Meir, 2009, "Regulating Financial Markets: Protecting Us from Ourselves and Others", Financial Analysts Journal, May/June, 65, 22-31. [URL]
  • Steil, Benn, 2009, "Lessons of the Financial Crisis", Council on Foreign Relations, Center for Geoeconomic Studies. [URL]
  • Sullivan, Rodney N., 2009, "Taming Global Markets", Financial Analysts Journal, March/April, 65, 6-8. [URL]
  • Taylor, Charles, 2009, "Managing Systemic Risks", The Pew Charitable Trusts. [URL]
  • Taylor, Charles, 2009, "Choosing Financial Regulatory Agency Mandates", The Pew Charitable Trusts. [URL]
  • Taylor, John B., 2009, "Getting Off Track: How Government Actions and Interventions Caused, Prolonged, and Worsened the Financial Crisis", Hoover Institution Press. [URL]
  • Taylor, John B., 2008, "The Financial Crisis and the Policy Responses: An Empirical Analysis of What Went Wrong", Stanford University. [URL]
  • Taylor, John B., 2010, "Defining Systemic Risk Operationally", Hoover Press, Stanford University. [URL]
  • Tett, Gillian, 2009, "Fool's Gold: How the Bold Dream of a Small Tribe at J.P. Morgan Was Corrupted by Wall Street Greed and Unleashed a Catastrophe", Free Press. [URL]
  • The President's Working Group on Financial Markets, 2008, "Progress Update on March Policy Statement on Financial Market Developments", U.S. Department of the Treasury. [URL]
  • The Tobin Project, 2009, "New Perspectives on Regulation", The Tobin Project. [URL]
  • The Warwick Commission on International Financial Reform, 2009, "The Warwick Commission on International Financial Reform: In Praise of Unlevel Playing Fields, The Report of the Second Warwick Commission", Warwick University. [URL]
  • Turner, Adair, 2009, "The Turner Review: A regulatory response to the global banking crisis", Financial Services Authority. [URL]
  • Wallison, Peter, 2009, "The Argument Against a Government Resolution Authority", The Pew Charitable Trusts. [URL]
  • Walter, Ingo, 2009, "The New Case for Functional Separation in Wholesale Financial Services", New York University. [URL]
  • Wheelock, David, and Paul Wilson, 2009, "Are U.S. Banks too Large?", Federal Reserve Bank of St. Louis. [URL]
  • Wyplosz, Charles, 2009, "The ICMB-CEPR Geneva Report: “The Future of Financial Regulation", VoxEU.org. [URL]
  • Yingling, Edward, 2009, "Testimony of Edward L. Yingling on behalf of the American Bankers Association before the Committee on Financial Services, United States House of Representatives", American Bankers Association. [URL]
  • Yingling, Edward, 2009, "Testimony of Edward L. Yingling on behalf of the American Bankers Association before the Committee on Financial Services, United States House of Representatives, July 15, 2009", American Bankers Association. [URL]

Systemic Risk Research

  • Acharya, Viral, and Ouarda Merrouche, 2009, "Precautionary Hoarding of Liquidity and Inter-Bank Markets: Evidence from the Sub-Prime Crisis", Bank of England. [URL]
  • Adrian, Tobias, and Markus Brunnermeier, 2009, "CoVaR", Federal Reserve Bank of New York. [URL]
  • Aikman, David, Piergiorgio Alessandri, Bruno Eklund, Prasanna Gai, Sujit Kapadia, Elizabeth Martin, Nada Mora, Gabriel Sterne, and Matthew Willison, 2009, "Funding liquidity risk in a quantitative model of systemic stability", Bank of England. [URL]
  • Allen, Franklin, and Ana Babus, 2007, "Networks in Finance", Wharton School Publishing. [URL]
  • Aragonés, Jose, Carlos Blanco, and Kevin Dowd, 2001, "Incorporating Stress Tests into Market Risk Modeling", Derivatives Quarterly, 44-49. [URL]
  • Bank of England, 2009, "The role of macroprudential policy", Bank of England. [URL]
  • Bårdsen, Gunnar, Kjersti-Gro Lindquist, and Dimitrios P. Tsomocos, 2006, "Evaluation of macroeconomic models for financial stability analysis", Norges Bank. [URL]
  • Basel Committee on Banking Supervision, BIS, 2009, "Stress testing at major financial institutions: survey results and practice", BIS. [URL]
  • Basel Committee on Banking Supervision, BIS, 2009, "Principles for sound stress testing practices and supervision", BIS. [URL]
  • Basel Committee on Banking Supervision, BIS, 2009, "International framework for liquidity risk measurement, standards and monitoring", BIS. [URL]
  • Basel Committee on Banking Supervision, BIS, 2009, "Strengthening the resilience of the banking sector", BIS. [URL]
  • Basel Committee on Banking Supervision, BIS, 2004, "Stress-testing financial systems: an overview of current methodologies", BIS. [URL]
  • Basu, Sanjay, 2009, "Stress testing for Market Risk: A comparison of VaR methods", National Institute of Bank Management (NIBM); Pune, India. [URL]
  • Bee, M., 2001, "Mixture models for VaR and stress testing", Università di Trento. [URL]
  • Beracha, Eli, and Mark Hirschey, 2009, "When Will Housing Recover?", Financial Analysts Journal, March/April, 65, 36-47. [URL]
  • Berkowitz, J., 1999/2000, "A Coherent Framework For Stress Testing", Journal of Risk, Winter, 2, 1-11. [URL]
  • Bernoth , Kerstin, and Andreas Pick, 2009, "Forecasting the Fragility of the Banking and Insurance Sector", German Institute for Economic Research (DIW Berlin). [URL]
  • Bogle, John C., and Rodney N. Sullivan, 2009, "Markets in Crisis", Financial Analysts Journal, January/February, 65, 17-24. [URL]
  • Boss, Michael, Gerald Krenn, Claus Puhr, and Martin Summer, 2006, "Systemic Risk Monitor: A Model for Systemic Risk Analysis and Stress Testing of Banking Systems", Financial Stability Report (Oesterreichische Nationalbank), 11, 83-95. [URL]
  • Bouchaud, Jean-Philippe, and Marc Potters, 2009, "Financial Applications of Random Matrix Theory: a short review", Science and Finance. [URL]
  • Breuer, T., and G. Krenn, 2000, "Identifying Stress Test Scenarios", Austrian National Bank. [URL]
  • Breuer, T., G. Krenn, and F. Pistovcak, 2002, "Stress Tests, Maximum Loss, and Value at Risk", Austrian National Bank. [URL]
  • Breuer, Thomas, Martin Jandačka, Klaus Rheinberger, and Martin Summer, 2009, "How to Find Plausible, Severe and Useful Stress Scenarios", International Journal of Central Banking, 5, 205-224. [URL]
  • Bullard, James, Christopher J. Neely, and David Wheelock, 2009, "Systemic Risk and the Financial Crisis: A Primer", Federal Reserve Bank of St. Louis Review, September, 91, 403-418. [URL]
  • Bunn, Philip, Alastair Cunningham, and Mathias Drehmann, 2005, "Stress testing as a tool for assessing systemic risks", Financial Stability Review, June, 18, 116-126. [URL]
  • Buzna, Lubos, Karsten Peters, Hendrik Ammoser, Christian Kuehnert, and Dirk Helbing, 2007, "Efficient Response to Cascading Disaster Spreading", Physical Review E, May, 75, 056107. [URL]
  • Calomiris, Charles, 2009, "Banking Crises Yesterday and Today", The Pew Charitable Trusts. [URL]
  • Cowen, Tyler, 2009, "A Simple Theory of the Financial Crisis; or, Why Fischer Black Still Matters", Financial Analysts Journal, May/June, 65, 17-20. [URL]
  • Danielsson, Jon, Hyun Song Shin, and Jean-Pierre Zigrand, 2009, "Risk Appetite and Endogenous Risk", London School of Economics. [URL]
  • De Bandt, Olivier, and Philipp Hartmann, 2000, "Systemic Risk: A Survey", European Central Bank. [URL]
  • De Nicolò, Gianni, and Marcella Lucchetta, 2009, "Systemic Risk and the Macroeconomy", International Monetary Fund. [URL]
  • Derman, Emanuel, 2009, "Models", Financial Analysts Journal, January/February, 65, 28-33. [URL]
  • Duffey, Romney B., 2009, "The Quantification of Systemic Risk and Stability: New Methods and Measures", Atomic Energy of Canada Ltd.. [URL]
  • Duffie, Darrell, 2007, "Innovations in Credit Risk Transfer: Implications for Financial Stability", Stanford University. [URL]
  • Duffie, Darrell, and Haoxiang Zhu, 2009, "Does a Central Clearing Counterparty Reduce Counterparty Risk?", Stanford University. [URL]
  • Dunaway, Steven, 2009, "Global Imbalances and the Financial Crisis", Council on Foreign Relations, Center for Geoeconomic Studies. [URL]
  • Eisenberg, Larry, and Thomas Noe, 1999, "Systemic risk in financial networks", Tulane University. [URL]
  • Erel, Isil, Stewart C. Myers, and James A. Read, 2009, "Capital Allocation", Ohio State University. [URL]
  • Ezra, Don, 2009, "The Second Moment", Financial Analysts Journal, January/February, 65, 34-36. [URL]
  • Faff, Robert, and Jerry Parwada, 2009, "Were Bank Bailouts Effective during the 2007-2009 Financial Crisis? Evidence from Counterparty Risk in the Global Hedge Fund Industry", University of New South Wales. [URL]
  • Federal Reserve, Board of Governors, 2009, "The Supervisory Capital Assessment Program: Overview of Results", Board of Governors of the Federal Reserve. [URL]
  • Finger, Christopher C., 2008, "Fishing for Complements", RiskMetrics Group Research Monthly, September, x, 1-7. [URL]
  • Foglia, Antonella, 2008, "Stress testing credit risk: a survey of authorities' approaches", Banca d'Itatlia. [URL]
  • Gorton, Gary, 2009, "Slapped in the Face by the Invisible Hand: Banking and the Panic of 2007", Yale University. [URL]
  • Gray, Dale, and James P. Walsh, 2008, "Factor Model for Stress-testing with a Contingent Claims Model of the Chilean Banking System", International Monetary Fund. [URL]
  • Gray, Dale F., Robert C. Merton, and Zvi Bodie, 2007, "New Framework for Measuring and Managing Macrofinancial Risk and Financial Stability", NBER. [URL]
  • Haldane, Andrew G., 2009, "Rethinking the Financial Network", Bank of England. [URL]
  • Haldane, Andrew G., 2009, "Why Banks Failed the Stress Test", Bank of England. [URL]
  • Hammond, Ross A., 2009, "Systemic Risk in the Financial System: Insights from Network Science", The Pew Charitable Trusts. [URL]
  • Harrison, Ian, and Chris Mathew, 2008, "Project TUI: A structural approach to the understanding and measurement of residential mortgage lending risk", Reserve Bank of New Zealand. [URL]
  • Hendricks, Darryll, 2009, "Defining Systemic Risk", The Pew Charitable Trusts. [URL]
  • Hodgson, Raphael, 2009, "The Birth of the Swap", Financial Analysts Journal, May/June, 65, 32-35. [URL]
  • Hoenig, Thomas M., Charles S. Morris, and Kenneth Spong, 2010, "Resolution Process for Financial Companies that Pose Systemic Risk to the Financial System and Overall Economy", Hoover Press, Stanford University. [URL]
  • Horst, Ulrich, 2007, "Stochastic cascades, credit contagion, and large portfolio losses", Journal of Economic Behavior & Organization, May, 63, 25-54. [URL]
  • Huang, Rocco, and Lev Ratnovski, 2009, "The Dark Side of Bank Wholesale Funding", Federal Reserve Bank of Philadelphia. [URL]
  • Huang, Xin, Hao Zhou, and Haibin Zhu, 2010, "A framework for assessing the systemic risk of major financial institutions", Risk Professional, April, 2010, 40-48. [URL]
  • International Monetary Fund, 2009, "Global Financial Stability Report: Responding to the Financial Crisis and Measuring Systemic Risks", IMF. [URL]
  • Jacobs, Bruce I., 2009, "Tumbling Tower of Babel: Subprime Securitization and the Credit Crisis", Financial Analysts Journal, March/April, 65, 17-30. [URL]
  • Jaffee, Dwight, Anthony W. Lynch, Matthew Richardson, and Stijn Van Nieuwerburgh, 2009, "Mortgage Origination and Securitization in the Financial Crisis", In: Restoring Financial Stability: How to Repair a Failed System, Wiley. [URL]
  • Jokivuolle, Esa, Kimmo Virolainen, and Oskari Vähämaa, 2008, "Macro-model-based stress testing of Basel II capital requirements", Bank of Finland. [URL]
  • Joseph, Viju, 2009, "Managing Systemic Counterparty Risk through a Redesigned Financial Architecture", Financial Analysts Journal, November/December, 65, 1-6. [URL]
  • Kambhu, John, Scott Weidman, and Neel Krishnan, 2007, "New Directions for Understanding Systemic Risk: A Report on a Conference Cosponsored by the Federal Reserve Bank of New York and the National Academy of Sciences", The National Academies Press. [URL]
  • Kane, Edward J., 2009, "The Importance of Monitoring and Mitigating the Safety-Net Consequences of Regulation-Induced Innovation", Networks Financial Institute at Indiana State University. [URL]
  • Khandani, Amir E., Andrew W. Lo, and Robert C. Merton, 2009, "Systemic Risk and the Refinancing Ratchet Effect", MIT. [URL]
  • Kole, E., K. Koedijk, and M. Verbeek, 2003, "Stress Testing With Student's t Dependence", Erasmus Research Institute of Management (ERIM). [URL]
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  • Laloux, Laurent, Pierre Cizeau, Marc Potters, and Jean-Philippe Bouchaud, 2000, "Random Matrix Theory and Financial Correlations", International Journal of Theoretical and Applied Finance, 3, 391-397. [URL]
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Conferences on Systemic Risk

  • 2010, July, "Workshop on Knowledge Representation and Information Management for Financial Risk Management", In: National Science Foundation and University of Maryland. [URL]
  • 2010, June, "Frameworks for Systemic Risk Monitoring", In: Committee to Establish the National Institute of Finance and University of Maryland. [URL]
  • 2010, June, "2010 Semantic Technology Conference: Semantics in Financial Services", In: Semantic Universe. [URL]
  • 2010, June, "Systemic Risk Regulation Summit", In: Securities Industry and Financial Markets Association (SIFMA). [URL]
  • 2010, April, "Systemic Risk and Macro Prudential Tools", In: International Monetary Fund. [URL]
  • 2010, April, "Volatility and Systemic Risk", In: NYU Stern School of Business. [URL]
  • 2009, November, "Research Conference on Quantifying Systemic Risk", In: Federal Reserve Bank of Cleveland. [URL]
  • 2009, October, "Regulating Systemic Risk", In: Federal Reserve Bank of Atlanta. [URL]
  • 2009, June, "Addressing Systemic Risk", In: American Enterprise Institute. [URL]
  • 2009, May, "Financial Innovation and Crises", In: Federal Reserve Bank of Atlanta. [URL]
  • 2007, May, "Banks and Systemic Risk, Theory and Evidence", In: Bank of England. [URL]
  • 2006, May, "New Directions for Understanding Systemic Risk", In: Federal Reserve Bank of New York and the National Academy of Sciences. [URL]
  • 2005, November, "Fourth Joint Central Bank Research Conference on Risk Measurement and Systemic Risk", In: European Central Bank. [URL]
  • 2002, March, "Third Joint Central Bank Research Conference on Risk Measurement and Systemic Risk", In: Bank for International Settlements. [URL]
  • 1998, November, "Second Joint Central Bank Research Conference on Risk Measurement and Systemic Risk", In: Bank of Japan. [URL]