Private capital markets are no longer a side story in global finance. Despite the sector’s insistence that it brings many benefits to the broader economy, the growing size of private capital markets ...

The mid-term review of Sendai Framework underscored that there are growing concerns on the acknowledgement of multi-hazard, multidimensional, and systemic nature of risk. The global risk science ...

Regulators should be paying more attention to the ballooning galaxy of nonbank financial institutions currently operating in global markets. The risks they pose to the financial system are not well ...

Accounting for unrealized market-value losses on banks’ securities and loan investments caused by the secular increase in interest rates that began in early 2022, I estimate that, as of September 30, ...

It shows the evolution of the realized correlation coefficients RCorr_τ between sectors and markets. The long-term correlation between each sector and the market as a whole increased significantly ...

Federal officials, including the Secretary of the Treasury, the Comptroller of the Currency, and the chairpersons of Federal Reserve Board and FDIC, routinely assure the public that the banking system ...