This paper describes the contract cancellations at the LME in March 2022 and considers the implications of contract cancellation powers for financial stability more generally (Working Paper no. 24-09).| Office of Financial Research - Working Papers
OFR Working Paper examines how Proof-of-Stake, which requires capital to validate crypto asset transactions, has a higher risk of runs in which stakers exit (Working Paper no. 24-08).| Office of Financial Research - Working Papers
This paper uses supervisory data to analyze how performance-based compensation influences a hedge fund manager’s investment strategy and associated risk (Working Paper no. 24-07).| Office of Financial Research - Working Papers
This paper finds that low home equity reduces the flood insurance demand of flood-exposed borrowers (Working Paper no. 24-06).| Office of Financial Research - Working Papers
This paper shows that when natural disasters hit low-income countries, banks operating in those countries reduce their cross-border lending (Working Paper no. 24-05).| Office of Financial Research - Working Papers
This paper studies how regulation implemented after the Global Financial Crisis has impacted price discovery in the credit default swap market (Working Paper no. 24-04).| www.financialresearch.gov
During market stress, various demands on U.S. G-SIBs by central counterparties may further deplete the banks’ already stressed liquid and capital resources. (Working Paper no. 25-03).| www.financialresearch.gov
The effects of mortgage rate changes on house prices depend on mortgage underwriting rules and the share of borrowers with extreme debt burdens (Working Paper no. 25-02).| www.financialresearch.gov
Small equity orders, or odd lots, can be used to examine the impact of trades executed without going through an exchange on stock prices and liquidity (Working Paper no. 25-01).| www.financialresearch.gov
This paper studies how banks adjust their risk models and lending in response to the emergent risk of climate change following Hurricane Harvey (Working Paper no. 24-03).| www.financialresearch.gov