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FinWatcher in brief


       Posted on January 13th, 2013

Banking Union for Europe: Risks and Challenges

While a banking union for Europe has been discussed by economists since even before the 2007 crisis, the issue has now moved up to the top of the eurozone agenda. But what kind of banking union? For whom? Financed how? And managed by whom? These questions are explored in a new Vox eBook [...]


       Posted on January 13th, 2013

High-Frequency Trading and the Execution Costs of Institutional Investors

This paper studies whether high-frequency trading (HFT) increases the execution costs of institutional investors. We use technology upgrades that lower the latency of the London Stock Exchange to obtain variation in the level of HFT over time. Following upgrades, the level of HFT increases. Around these shocks to HFT, as far as can [...]


       Posted on January 13th, 2013

The Role of Markets in Sovereign Debt Crisis Detection, Prevention and Resolution

IIF First Deputy Managing Director Hung Tran has delivered a speech at the BIS Seminar “Sovereign Risk: A World Without Risk-Free Assets?” In his remarks, Hung Tran discussed the role of markets and market infrastructure in sovereign debt crisis detection, prevention, and resolution. Given the prospect of slow growth, large budget deficits and [...]


       Posted on January 13th, 2013

What should we do about (Macro) Pru? Macro Prudential Policy and Credit

Credit growth is widely used as an indicator of potential financial stress, and it plays a role in the new Basel III framework. However, it is not clear how good an indicator it is in markets that have been financially liberalised. The authors of this paper take a sample of 14 OECD countries [...]


       Posted on January 13th, 2013

The New Debit Card Regulations: Initial Effects on Networks and Banks

American consumers are using debit cards more than ever before, triggering key changes in the payment card industry and affecting how banks and merchants do business.

Controversy has arisen as the industry raised the fees it charges on merchants for debit transaction processing—fees that merchants may pass on to consumers, affecting the [...]


1944 pages