This is the second session when we will cover Ulrich Bindseil's 2014 book "Monetary Policy Operations and the Financial System". We will focus on chapters 9-12. From the bookseller's description:"Since 2007, central banks of industrialized countries have counteracted financial instability, recession, and deflationary risks with unprecedented monetary policy operations. While generally regarded as successful, these …

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We are discussing the collapse of Silicon Valley Bank and the recent banking stresses in general. What happened? To what extent is SVB special? Do other banks face similar risks? To prompt discussion, we first have a Bloomberg article by Matt Levine from the day the FDIC shut down SVB. Startup Bank had a Startup …

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This is the third and final session when we will cover Ulrich Bindseil's 2014 book "Monetary Policy Operations and the Financial System". We will focus on chapters 13-18. From the bookseller's description:"Since 2007, central banks of industrialized countries have counteracted financial instability, recession, and deflationary risks with unprecedented monetary policy operations. While generally regarded as …

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In the context of the 2023 banking turmoil, we are discussing Zoltan Poszar's 2011 IMF working paper, "Institutional Cash Pools and the Triffin Dilemma of the U.S. Banking System". https://www.imf.org/en/Publications/WP/Issues/2016/12/31/Institutional-Cash-Pools-and-the-Triffin-Dilemma-of-the-U-S-25155 Nathan Tankus recently blogged about this paper. We can compare his interpretation with our own. https://www.crisesnotes.com/the-night-they-reread-pozsar-in-his-absence/ This blog post also sparked a discussion in the …

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