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Federal Financial Regulatory Agencies Issue Statement On Enforcement Of Bank Secrecy Act/Anti-Money Laundering Requirements, United States: Department Of The Treasury: Office Of The Comptroller Of The Currency (Occ), Federal Reserve System: Board Of Governors, United States: Federal Deposit Insurance Corporation (Fdic), United States: Department Of The Treasury: Office Of Thrift Supervision, United States: National Credit Union Administration (Ncua) Jul 2007

Federal Financial Regulatory Agencies Issue Statement On Enforcement Of Bank Secrecy Act/Anti-Money Laundering Requirements, United States: Department Of The Treasury: Office Of The Comptroller Of The Currency (Occ), Federal Reserve System: Board Of Governors, United States: Federal Deposit Insurance Corporation (Fdic), United States: Department Of The Treasury: Office Of Thrift Supervision, United States: National Credit Union Administration (Ncua)

Documents

No abstract provided.


Federal And State Agencies Announce Pilot Project To Improve Supervision Of Subprime Mortgage Lenders, Federal Reserve System: Board Of Governors, United States: Department Of The Treasury: Office Of Thrift Supervision, United States: Federal Trade Commission (Ftc), Conference Of State Bank Supervisors (Csbs), American Association Of Residential Mortgage Regulators (Aarmr) Jul 2007

Federal And State Agencies Announce Pilot Project To Improve Supervision Of Subprime Mortgage Lenders, Federal Reserve System: Board Of Governors, United States: Department Of The Treasury: Office Of Thrift Supervision, United States: Federal Trade Commission (Ftc), Conference Of State Bank Supervisors (Csbs), American Association Of Residential Mortgage Regulators (Aarmr)

Documents

No abstract provided.


Agencies Announce Pilot Project To Improve Supervision Of Subprime Mortgage Lenders, Federal Reserve System: Board Of Governors Jul 2007

Agencies Announce Pilot Project To Improve Supervision Of Subprime Mortgage Lenders, Federal Reserve System: Board Of Governors

Documents

No abstract provided.


Merrill Lynch Second Quarter 2007 Earnings Conference Call Transcript, Jonathan Blum, Jeff Edwards, Glenn Schorr, William Tanona, Michael L. Mayo, Richard Bove, Prashant Bhatia, Meredith Whitney, Douglas Sipkin Jul 2007

Merrill Lynch Second Quarter 2007 Earnings Conference Call Transcript, Jonathan Blum, Jeff Edwards, Glenn Schorr, William Tanona, Michael L. Mayo, Richard Bove, Prashant Bhatia, Meredith Whitney, Douglas Sipkin

Documents

No abstract provided.


S&P Various U.S. First-Lien Subprime Rmbs Classes Downgraded, Standard & Poor's Financial Services Llc, Susan Barnes, Robert B. Pollsen, Ernestine Warner, Michael Stock, Monica Perelmuter, Martin Kennedy, Rosario Buendia, Thomas G. Gillis, Adam M. Tempkin, Chris Atkins Jul 2007

S&P Various U.S. First-Lien Subprime Rmbs Classes Downgraded, Standard & Poor's Financial Services Llc, Susan Barnes, Robert B. Pollsen, Ernestine Warner, Michael Stock, Monica Perelmuter, Martin Kennedy, Rosario Buendia, Thomas G. Gillis, Adam M. Tempkin, Chris Atkins

Documents

No abstract provided.


S&Pcorrect: 612 U.S. Subprime Rmbs Classes Put On Watch Neg; Methodology Revisions Announced, Standard & Poor's Financial Services Llc Jul 2007

S&Pcorrect: 612 U.S. Subprime Rmbs Classes Put On Watch Neg; Methodology Revisions Announced, Standard & Poor's Financial Services Llc

Documents

No abstract provided.


The Basic Public Finance Of Public-Private Partnerships, Eduardo Engel, Ronald Fischer, Alexander Galetovic Jul 2007

The Basic Public Finance Of Public-Private Partnerships, Eduardo Engel, Ronald Fischer, Alexander Galetovic

Discussion Papers

No abstract provided.


Information Acquisition In Interdependent Value Auctions, Dirk Bergemann, Xianwen Shi, Juuso Välimäki Jul 2007

Information Acquisition In Interdependent Value Auctions, Dirk Bergemann, Xianwen Shi, Juuso Välimäki

Cowles Foundation Discussion Papers

We consider an auction environment with interdependent values. Each bidder can learn her payoff type through costly information acquisition. We contrast the socially optimal decision to acquire information with the equilibrium solution in which each agent has to privately bear the cost of information acquisition. In the context of the generalized Vickrey-Clarke-Groves mechanism, we establish that the equilibrium level exceeds the socially optimal level of information with positive interdependence. The individual decisions to acquire information are strategic substitutes. The difference between the equilibrium and the efficient level of information acquisition is increasing in the interdependence of the bidders’ valuations and …


Validity Of Subsampling And ‘Plug-In Asymptotic’ Inference For Parameters Defined By Moment Inequalities, Donald W.K. Andrews, Patrik Guggenberger Jul 2007

Validity Of Subsampling And ‘Plug-In Asymptotic’ Inference For Parameters Defined By Moment Inequalities, Donald W.K. Andrews, Patrik Guggenberger

Cowles Foundation Discussion Papers

This paper considers inference for parameters defined by moment inequalities and equalities. The parameters need not be identified. For a specified class of test statistics, this paper establishes the uniform asymptotic validity of subsampling, m out of n bootstrap, and “plug-in asymptotic” tests and confidence intervals for such parameters. Establishing uniform asymptotic validity is crucial in moment inequality problems because the test statistics of interest have discontinuities in their pointwise asymptotic distributions. The size results are quite general because they hold without specifying the particular form of the moment conditions — only 2 + δ moments finite are required. The …


Countrywide Mcmurray Email To Greg Hendry Re Disclosures Of Credit Risk Management Policies, John Mcmurray, Greg Hendry Jul 2007

Countrywide Mcmurray Email To Greg Hendry Re Disclosures Of Credit Risk Management Policies, John Mcmurray, Greg Hendry

Documents

No abstract provided.


Hungary: 2007 Article Iv Consultation-Staff Report; And Public Information Notice On The Executive Board Discussion, International Monetary Fund (Imf) Jul 2007

Hungary: 2007 Article Iv Consultation-Staff Report; And Public Information Notice On The Executive Board Discussion, International Monetary Fund (Imf)

Documents

No abstract provided.


United States Courts And The Optimal Deterrence Of International Cartels: A Welfarist Perspective On Empagran, Alan O. Sykes Jul 2007

United States Courts And The Optimal Deterrence Of International Cartels: A Welfarist Perspective On Empagran, Alan O. Sykes

Cowles Foundation Discussion Papers

E. Hoffmann-La Roche Ltd. v. Empagran S.A. concerned a private antitrust suit for damages against a global vitamins cartel. The central issue in the litigation was whether foreign plaintiffs injured by the cartel’s conduct abroad could bring suit in U.S. court, an issue that was ultimately resolved in the negative. We take a welfarist perspective on this issue and inquire whether optimal deterrence requires U.S. courts to take subject matter jurisdiction under U.S. law for claims such as those in Empagran. Our analysis considers, in particular, the arguments of various economist amici in favor of jurisdiction and arguments of the …


Ikb 2006-2007 Annual Report, J¼Rgen R. Thumann, Stefan Ortseifen, Ulrich Hartmann Jun 2007

Ikb 2006-2007 Annual Report, J¼Rgen R. Thumann, Stefan Ortseifen, Ulrich Hartmann

Documents

No abstract provided.


Testimony Of Berenbaum Before The Senate, Ending Mortgage Abuse: Safeguarding Homebuyers, David Berenbaum Jun 2007

Testimony Of Berenbaum Before The Senate, Ending Mortgage Abuse: Safeguarding Homebuyers, David Berenbaum

Documents

No abstract provided.


Romania: 2007 Article Iv Consultation: Staff Report; Public Information Notice On The Executive Board Discussion; And Statement By The Executive Director For Romania, International Monetary Fund (Imf) Jun 2007

Romania: 2007 Article Iv Consultation: Staff Report; Public Information Notice On The Executive Board Discussion; And Statement By The Executive Director For Romania, International Monetary Fund (Imf)

Documents

No abstract provided.


Guidelines For The Single State Monetary Policy In 2008, Russian Federation: Central Bank Of The Russian Federation Jun 2007

Guidelines For The Single State Monetary Policy In 2008, Russian Federation: Central Bank Of The Russian Federation

Documents

No abstract provided.


Office Of Thrift Supervison Holding Company Report Of Examination Of Aig, C.K. Lee, United States: Department Of The Treasury: Office Of Thrift Supervision Jun 2007

Office Of Thrift Supervison Holding Company Report Of Examination Of Aig, C.K. Lee, United States: Department Of The Treasury: Office Of Thrift Supervision

Documents

No abstract provided.


Citigroup Letter From David C Bushnell And Michael S Helfer To John Ruocco Re Frbny 2006 Summary Of Supervisory Activity And Findings For Citigroup Inc, David Bushnell, Michael S. Helfer Jun 2007

Citigroup Letter From David C Bushnell And Michael S Helfer To John Ruocco Re Frbny 2006 Summary Of Supervisory Activity And Findings For Citigroup Inc, David Bushnell, Michael S. Helfer

Documents

This letter is addressed to John Ruocco


Introductory Statement With Q&A, Jean-Claude Trichet, Lucas Papademos Jun 2007

Introductory Statement With Q&A, Jean-Claude Trichet, Lucas Papademos

Documents

No abstract provided.


Occ Supervisory Letter To Bank Of America, Timothy W. Greenway Jun 2007

Occ Supervisory Letter To Bank Of America, Timothy W. Greenway

Documents

No abstract provided.


Switzerland: Financial System Stability Assessment Update, International Monetary Fund (Imf) Jun 2007

Switzerland: Financial System Stability Assessment Update, International Monetary Fund (Imf)

Documents

No abstract provided.


Switzerland: 2007 Article Iv Consultation: Staff Report; Public Information Notice On The Executive Board Discussion; And Statement By The Executive Director For Switzerland, International Monetary Fund (Imf) Jun 2007

Switzerland: 2007 Article Iv Consultation: Staff Report; Public Information Notice On The Executive Board Discussion; And Statement By The Executive Director For Switzerland, International Monetary Fund (Imf)

Documents

No abstract provided.


Robust Virtual Implementation, Dirk Bergemann, Stephen Morris Jun 2007

Robust Virtual Implementation, Dirk Bergemann, Stephen Morris

Cowles Foundation Discussion Papers

In a general interdependent preference environment, we characterize when two payoff types can be distinguished by their rationalizable strategic choices without any prior knowledge of their beliefs and higher order beliefs. We show that two payoff types are strategically distinguishable if and only if they satisfy a separability condition. The separability condition for each agent essentially requires that there is not too much interdependence in preferences across agents. A social choice function — mapping payoff type profiles to outcomes — can be robustly virtually implemented if there exists a mechanism such that every equilibrium on every type space achieves an …


Exact Distribution Theory In Structural Estimation With An Identity, Peter C.B. Phillips Jun 2007

Exact Distribution Theory In Structural Estimation With An Identity, Peter C.B. Phillips

Cowles Foundation Discussion Papers

Some exact distribution theory is developed for structural equation models with and without identities. The theory includes LIML, IV and OLS. We relate the new results to earlier studies in the literature, including the pioneering work of Bergstrom (1962). General IV exact distribution formulae for a structural equation model without an identity are shown to apply also to models with an identity by specializing along a certain asymptotic parameter sequence. Some of the new exact results are obtained by means of a uniform asymptotic expansion. An interesting consequence of the new theory is that the uniform asymptotic approximation provides the …


Tilted Nonparametric Estimation Of Volatility Functions With Empirical Applications, Peter C.B. Phillips, Ke-Li Xu Jun 2007

Tilted Nonparametric Estimation Of Volatility Functions With Empirical Applications, Peter C.B. Phillips, Ke-Li Xu

Cowles Foundation Discussion Papers

This paper proposes a novel positive nonparametric estimator of the conditional variance function without reliance on logarithmic or other transformations. The estimator is based on an empirical likelihood modification of conventional local level nonparametric regression applied to squared mean regression residuals. The estimator is shown to be asymptotically equivalent to the local linear estimator in the case of unbounded support but, unlike that estimator, is restricted to be non-negative in finite samples. It is fully adaptive to the unknown conditional mean function. Simulations are conducted to evaluate the finite sample performance of the estimator. Two empirical applications are reported. One …


Gao - Federal Housing Administration - Decline In The Agency's Market Share Was Associated With Product And Process Developments Of Other Mortgage Market Participants, Brian D. Montgomery, United States: Government Accountability Office (Gao) Jun 2007

Gao - Federal Housing Administration - Decline In The Agency's Market Share Was Associated With Product And Process Developments Of Other Mortgage Market Participants, Brian D. Montgomery, United States: Government Accountability Office (Gao)

Documents

No abstract provided.


On The Resolution Of Financial Crises: The Swedish Experience, Ozgur Emre Ergungor Jun 2007

On The Resolution Of Financial Crises: The Swedish Experience, Ozgur Emre Ergungor

Documents

No abstract provided.


Strategic Distinguishability And Robust Virtual Implementation, Dirk Bergemann, Stephen Morris Jun 2007

Strategic Distinguishability And Robust Virtual Implementation, Dirk Bergemann, Stephen Morris

Cowles Foundation Discussion Papers

In a general interdependent preference environment, we characterize when two payoff types can be distinguished by their rationalizable strategic choices without any prior knowledge of their beliefs and higher order beliefs. We show that two types are strategically distinguishable if and only if they satisfy a separability condition. The separability condition for each agent essentially requires that there is not too much interdependence in preferences across agents. A social choice function — mapping payoff type profiles to outcomes — can be robustly virtually implemented if there exists a mechanism such that every equilibrium on every type space achieves an outcome …


First Quarter 2007 Us Cdo Review - Climbing The Wall Of Subprime Worry (Copy), Richard Michalek, Suzanna Sava, Karie Chen May 2007

First Quarter 2007 Us Cdo Review - Climbing The Wall Of Subprime Worry (Copy), Richard Michalek, Suzanna Sava, Karie Chen

Documents

No abstract provided.


Sec Risk Management Review Of Consolidated Supervised Entities (May 31, 2007), United States: Securities And Exchange Commission: Office Of Prudential Supervision And Risk Analysis (Opsra) May 2007

Sec Risk Management Review Of Consolidated Supervised Entities (May 31, 2007), United States: Securities And Exchange Commission: Office Of Prudential Supervision And Risk Analysis (Opsra)

Documents

No abstract provided.