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Archived Literature and Publications

Archived Literature and Publications

 

Bank of England

  • Financial Stability Report (June 2017)
    • Prepared twice per calendar year by the Financial Policy Committee (FPC), the Financial Stability Report (FSR) outlines the FPC's outlook on the state of financial stability throughout the United Kingdom. In this report, the FPC addresses the UK countercyclical capital buffer rate, stress losses on consumer credit lending, insurance measures in the mortgage market, leverage ratio standards, cyber resilience, and contingency planning to mitigate financial instability in anticipation of the United Kingdom's withdrawal from the European Union.
  • Financial Stability Report (November 2016)
    • The Bank of England's stress testing of major UK banks in 2016 incorporated a misconduct cost stress, perhaps reflecting fines totaling to over $300 billion paid by banks for misconduct since the financial crisis in 2008. Looking forward to the 2017 stress tests, an additional biennial exploratory scenario (BES) will be added for the first time to probe the resilience of the system to risks that may not be precisely linked to the financial cycle.
    • The UK leverage ratio framework will also be reviewed in 2017, with a recalibration of the standard to include the exclusion of central bank reserves from the exposure measure of the leverage ratio.
  • Staff Working Paper No. 609: The role of collateral in supporting liquidity (August 2016)
    • Yuliya Baranova, Zijun Liu, and Joseph Noss predict that a future period of stress could cause demand for high-quality collateral to spike while at the same time limiting its supply, thereby exacerbating market conditions. While the imbalance between supply and demand for collateral would likely eventually resolve itself as potential returns for collateral lenders increased, it could herald a costly breakdown in the network of intermediaries that facilitate collateral posting. The authors predict that the supply of collateral could be exhausted in the absence of additional central bank debt issuance when the VIX index rises above 44 for a sustained period of about three months, and warn that higher collateral requirements might considerably lower that VIX threshold.

Basel Committee on Banking Supervision

Bank for International Settlement

Commodity Futures Trading Commission

European Central Bank

Federal Reserve Bank of New York

Federal Reserve Board

Financial Stability Board

International Monetary Fund

Office of the Comptroller of the Currency

International Swaps and Derivatives Association

Risk.net

U.S. Securities and Exchange Commission

European Securities and Markets Authority

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