Connectedness and contagion : protecting the financial system from panics

Connectedness and contagion : protecting the financial system from panics / Hal S. Scott.

"The Dodd-Frank Act of 2010 was intended to reform financial policies in order to prevent another massive crisis such as the financial meltdown of 2008. Dodd-Frank is largely premised on the diagnosis that connectedness was the major problem in that crisis -- that is, that financial institution...

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Bibliographic Details
Main Author: Scott, Hal S. (Author)
Format: eBook
Language:English
Published: Cambridge, Massachusetts : The MIT Press, [2016]
Subjects:
2000-2099
Financial crises > History > 21st century.
Global Financial Crisis, 2008-2009 > Government policy.
Global Financial Crisis, 2008-2009.
BUSINESS & ECONOMICS > Economics > Macroeconomics.
POLITICAL SCIENCE > Economic Conditions.
BUSINESS & ECONOMICS > Finance.
Financial crises
Government policy
Finanzkrise.
Ansteckungseffekt.
Finanzmarktregulierung.
Bankrisiko.
Bankenliquidität.
Schuldenübernahme.
USA.
Welt.
History
Online Access:Click for online access
Table of Contents:
  • Acknowledgments
  • Introduction
  • 1. The concept of connectedness
  • 2. The concept and history of contagion
  • 3. The concept of correlation
  • 4. Asset connectedness : Lehman and AIG
  • 5. Liability connectedness : money market funds and tri-party repo market
  • 6. The Dodd-Frank Act policies to address connectedness
  • 7. Contagion in the 2008 crisis : the run on the non-bank sector, "shadow banks"
  • 8. History of lender of last resort in the United States
  • 9. Dodd-Frank restrictions on the lender of last resort power
  • 10. Comparison of LLR powers of fed with Bank of England, European Central Bank, and Bank of Japan
  • 11. Strengthening the LLR powers of the fed
  • 12. Liability insurance and guarantees
  • 13. Insuring money market funds
  • 14. Capital requirements : Basel III framework
  • 15. Liquidity requirements
  • 16. Bank resolution procedures, contingent capital (CoCos), and bail-ins
  • 17. Dodd-Frank orderly liquidation for non-bank SIFIs (including bank holding companies)
  • 18. Living wills
  • 19. Money market mutual fund reform
  • 20. Dependence of the financial system on short-term funding
  • 21. Government crowding out of private issuance of short-term debt
  • 22. Capital purchase program and other TARP support programs
  • 23. Criticisms of bailouts generally
  • 24. Specific criticism of TARP
  • 25. Standing bailout programs
  • 26. Conclusion
  • Notes
  • Index.

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