If the US Federal Reserve raises its policy interest rate by as much as is necessary to rein in inflation, it will most likely further depress the market value of the long-duration securities parked on many banks' balance sheets. So be it.
thinks central banks can achieve both, despite the occurrence of a liquidity crisis amid high inflation.
Although Silicon Valley Bank was not deemed to be systemically important, its insolvency forced the US Federal Reserve to head off systemic contagion and exposed the inadequacy of the FDIC’s partial deposit insurance regime. The financial-stability framework adopted after the 2008 crisis obviously needs another overhaul.
considers what the bank’s failure should mean for the current financial-stability framework.
伦敦—今年,联合国气候变化大会(COP26)在英国格拉斯哥举行,会议的焦点明显从讨论政府的责任转移到讨论私营企业的力量。如果各国政府无法找出一种方案来调和利益、承诺采取集体行动,私营企业能否挑起大梁?
这不仅仅是一个企业单独或协调减排会产生多大影响的问题,尽管这个问题的答案可能已经很有价值了。但这是一个关于市场潜力的问题。它究竟能否用来保障快速大规模减排的关键公共利益?
问题不太可能是缺乏金融资本。联合国气候行动和融资特使马克·卡尼(Mark Carney)在会议上宣布了一项承诺,要为实现温室气体净零排放的目标提供130万亿美元,此举引起了轰动。这笔令人震惊的款项将由格拉斯哥净零排放金融联盟(GFANZ)提供,该联盟由卡尼领导,包括了约450家金融机构,占世界资产的40%。
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