...This chapter argues that abandoning national currencies to adopt a hard currency can be an effective policy for emerging economies to deal simultaneously with the lack of credibility of domestic financial policies and the imperfections of globalized capital markets, and is organized as follows...

... institutions financial policy investment banks money market commercial paper markets interbank lending secured repo markets Federal Reserve As discussed earlier, the term “contagion” denotes the spread of run-like behavior from one financial institution to an expanding number of other institutions...

... Fund DIF Federal Deposit Insurance Corporation Improvement Act of 1991 FDICIA Option pricing Ex post pricing Merton Robert Allied Irish Banks Anglo Irish Bank Bank of Ireland Federal Reserve financial policy financial regulation liability insurance Dodd–Frank deposit insurance insurance...

... Contagion Federal Reserve insurance money market mutual funds financial policy contagions financial regulation lender of last resort liquidity support monetary policy The possible need for insurance of money market mutual funds is of particular concern given the vulnerability of those funds...

... Stability Mechanism ESM Capital Purchase Program financial policy monetary policy financial crisis capital injection Troubled Asset Relief Program recapitalization financial institutions Emergency Economic Stabilization Act 2008 TARP housing programs We turn now to examining the Capital Purchase...

... Federal Deposit Insurance Corporation FDIC Liquidity requirements Orderly Liquidation Authority OLA Troubled Assets Relief Program TARP financial crisis financial regulation financial policy Federal Reserve contagion US financial system This book’s central concern is the fundamental stability...

... Dodd–Frank Federal Reserve Financial Stability Oversight Council FSOC Systemically important financial institutions SIFIs AIG Basel Committee Global systemically important US banks G SIBs MetLife Prudential Dodd–Frank Act financial policy 2008 financial crisis systemic risk central clearing...

... and Construction Act of 1932 Federal Deposit Insurance Corporation FDIC Hoover Herbert AIG Bear Stearns Nonbank financial institutions 2008 financial crisis financial policy lender of last resort Federal Reserve First Bank of the United States Second Bank of the United States federal banks monetary...

... Bernanke Ben European Union AIG Bear Stearns Troubled Assets Relief Program TARP Disclosure requirements under Dodd–Frank Lacker Jeff Vickers report Federal Reserve Bank of England European Central Bank Bank of Japan financial policy lender of last resort Dodd–Frank Act monetary policy...

... Ben Investment Company Act of 1940 Money market funds MMFs Bank of England BOE Bank of Japan BOJ lender of last resort Federal Reserve financial policy mutual market funds financial regulation regulatory reform monetary policy Any attempt to strengthen the role of the Fed as lender of last...

... International Organization of Securities Commissions Ring fencing Risk Macroeconomic policy cooperation Monetary policy ASEAN 3 Chiang Mai initiative of multilateralization CMIM Executives’ Meeting of East Asia and Pacific Central Banks EMEAP policy coordination financial policy macroeconomic policy...

... Dodd–Frank Act Federal Reserve financial policy lender of last resort loans monetary policy The Dodd–Frank Act placed important restrictions on the Fed’s power as lender of last resort to nonbanks under §13(3) as part of the post-crisis reaction that its lending constituted an undesirable bailout...

... Reserve financial policy financial regulation monetary policy excess reserves reverse repurchase agreements Some have suggested that the government should increase the effective supply of public short-term debt in order to meet the demand by institutional cash managers for safe short-term debt...

... list” as of December 31, 2014. Capital injections Capital Purchase Program CPP Troubled Assets Relief Program TARP AIG Citigroup Bailouts Northern Rock RBS Troubled Asset Relief Program TARP financial policy financial regulation Capital Purchase Program CPP There have been several...

... SRF Single Resolution Mechanism SRM European Stability Mechanism ESM Orderly Liquidation Authority OLA Capital injections Deposit Insurance Corporation of Japan Japan Standing bailout authority financial policy financial regulation bailout programs European Union Japan monetary policy...