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Sun, August 12, 2007 11:11:44 PMFrom:
<NewContent@InternationalMonetaryFund.org>
Subject:
Your IMF Weekly Update: 2 new items
New items about your countries of interest:
* IMF Policy Paper: Staff Report on the Multilateral Consultation on Global Imbalances with China, the Euro Area, Japan, Saudi Arabia, and the United States
Summary: Multilateral Consultations are a new tool of multilateral surveillance for the IMF, designed to foster action-oriented debate and policy actions on a problem of systemic or regional importance. The first multilateral consultation focused on facilitating the resolution of global imbalances while sustaining robust global growth. China, the euro area, Japan, Saudi Arabia, and the United States agreed to participate.
http://www.imf.org/external/pp/longres.aspx?id=4200
[Matched: United States]
* Working Paper No. 07/188: Money for Nothing and Checks for Free: Recent Developments in U.S. Subprime Mortgage Markets
Author/Editor: Kiff, John; Mills, Paul S.
Summary: After a number of warning signs, the U.S. "subprime mortgage crisis" became a headline issue in February 2007. Notwithstanding the bankruptcy of numerous mortgage companies, historically high delinquencies and foreclosures, and a significant tightening in subprime lending standards, the impact thus far on core U.S. financial institutions has been limited. This paper reviews the history and structure of the subprime market. The results suggest that new origination and funding technology appear to have made the financial system more stable at the expense of undermining the effectiveness of consumer protection regulation. Potential solutions to the management of this trade-off are then explored.
http://www.imf.org/external/pubs/cat/longres.cfm?sk=21200.0
[Matched: United States]
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