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Danske Bank and HSBC
We have learned today that Danske Bank is being charged for its money laundering scandal. It seems that its branch in Estonia (the only one there) handled around €200bn of Russian and other ex-Soviet money—apparently a large part of it … Continue reading
More on central clearing and the leverage ratio
I talked some days ago about client clearing and some research that I have done on whether some new regulations (mainly the leverage ratio—LR) might increase its costs and reduce the willingness of banks to provide such services. I have … Continue reading
Orwell’s Notes on Nationalism
I have recently found myself reading some of the greatest British thinkers and writers of the 20th century. Bertrand Russell’s History of Western Philosophy looks at me every time I sit on my desk—I am still in the pre-Socratics. Christopher … Continue reading
Client clearing
When Lehman went bankrupt, it had over 900,000 derivative transactions with other counterparties. While many of these transactions were closed down in the following weeks, a significant number of bilateral over-the-counter derivatives were the object of dispute for months, even … Continue reading
Emerging scholars conference
The programme for the Emerging Scholars in Banking and Finance conference is complete! This conference, organised by the Centre for Banking Research at Cass—of which I am a member—brings together emerging scholars in banking and finance to present their papers. … Continue reading
Seven myths about education, by Daisy Christodoulou
Since my daughter was born, almost a year and a half ago (already!), I have been concerned about how to educate her. My own experience suggested that even the education from some of the best primary schools might still fall … Continue reading
Mankiw and Weinzierl 2011
While working on a project in its very early stages, I stumbled upon this paper by Mankiw and Weinzierl from 2011 in the Brookings Papers of Economic Activity. It is a very simple macro model with monetary and fiscal policy … Continue reading
Post-crisis regulation and bond liquidity
One of the best blogs to follow about research on banking is the blog by the NYFed, Liberty Street Economics. In a recent post, they discuss the results of their JME paper on whether post-crisis regulation is affecting bond liquidity … Continue reading
What will happen with Dodd-Frank?
Post-crisis banking regulation seems to be under thread given the direction that the Trump presidency is taking on this matter. We have a US Representative asking Yellen to basically sit down and do nothing until the President figures out how … Continue reading
QE – The story so far
Three months ago, Andy Haldane came to Cass to give the Dean’s Lecture. The lecture was about Quantitative Easing. It is now available on Youtube here, so enjoy! The working paper version of this work can be found here.
Francesc's Blog 