000			03677cam a2200433 i 4500
001			18918283
003			BJBSDDR
005			20260326153218.0
007			ta
008			151228s2016 mau b 001 0 eng
010			_a 2015039900
020			_a9780262034371 (hardcover : alk. paper)
020			_a0262034379 (hardcover : alk. paper)
035			_a18918283
040			_aDLC _beng _cDLC _erda _dDLC
041			_aeng
042			_apcc
050	1	4	_aHB 3722 _bS426c 2016
082	0	0	_a339.5/3
100	1		_aScott, Hal S., _d1943- _947572
245	1	0	_aConnectedness and contagion : _bprotecting the financial system from panics / _cHal S. Scott.
264		1	_aCambridge, MA : _bThe MIT Press, _c2016.
300			_axxi, 416 pages ; _c24 cm.
336			_atext _2rdacontent
337			_aunmediated _2rdamedia
338			_avolume _2rdacarrier
504			_aIncludes bibliographical references and index.
505	0		_aAcknowledgments -- Introduction -- Connectedness, contagion, and correlation : definitions and a review of the economic literature -- The concept of connectedness -- The concept and history of contagion -- The concept of correlation -- Connectedness in the crisis -- Asset connectedness : Lehman and AIG -- Liability connectedness : money market funds and tri-party repo market -- The Dodd-Frank Act policies to address connectedness -- Contagion -- Contagion in the 2008 crisis : the run on the non-bank sector, "shadow banks" -- The history of lender of last resort in the United States -- Dodd-Frank restrictions on the lender of last resort power -- Comparison of LLR powers of fed with Bank of England, European Central Bank, and Bank of Japan -- Strengthening the LLR powers of the fed -- Liability insurance and guarantees -- Insuring money market funds -- Ex-ante policies to avoid contagion : capital, liquidity, resolution, money market mutual fund reform, and limits on short-term funding -- Capital requirements : Basel III framework -- Liquidity requirements -- Bank resolution procedures, contingent capital (CoCos), and bail-ins -- Dodd-Frank orderly liquidation for non-bank SIFIs (including bank holding companies) -- Living wills -- Money market mutual fund reform -- The dependence of the financial system on short-term funding -- Government crowding out of private issuance of short-term debt -- Public capital injections into insolvent financial institutions, i.e "bailouts" -- Capital purchase program and other TARP support programs -- Criticisms of bailouts generally -- Specific criticism of tarp -- Standing bailout programs -- Conclusion -- Notes -- Index.
520			_aThe 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 institutions were overexposed to one another, resulting in a possible chain reaction of failures. In this work, Hal Scott argues that it is not connectedness but contagion that is the most significant element of systemic risk facing the financial system
650		0	_aFinancial crises _xHistory _y21st century.
650		4	_aCrisis financiera _xHistoria _ySiglo XXI _94538
650		0	_aGlobal Financial Crisis, 2008-2009 _xGovernment policy.
650		4	_aCrisis financiera global, 2008-2009 _9406
650		0	_aGlobal Financial Crisis, 2008-2009.
906			_a7 _bcbc _corignew _d1 _eecip _f20 _gy-gencatlg
942			_2lcc _cBK
946			_isba
999			_c126615 _d126615