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2000-2009
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Congressional Research Service Reports
Pakistan's Capital Crisis: Implications for U.S. Policy
Date: November 21, 2008
Creator: Martin, Michael F.
Description: Pakistan - a key U.S. ally in global efforts to combat Islamist militancy - is in urgent need of an estimated $4 billion in capital to avoid defaulting on its sovereign debt. The Pakistani government is seeking short-term financial assistance from a number of sources, including the International Monetary Fund (IMF), China, and an informal group of nations (including the United States) known as the "Friends of Pakistan." The current crisis has placed some strain on U.S.-Pakistan relations.
Contributing Partner: UNT Libraries Government Documents Department
Permallink:digital.library.unt.edu/ark:/67531/metacrs10820/
Pakistan's Capital Crisis: Implications for U.S. Policy
Date: November 7, 2008
Creator: Martin, Michael F.
Description: Pakistan - a key U.S. ally in global efforts to combat Islamist militancy - is in urgent need of an estimated $4 billion in capital to avoid defaulting on its sovereign debt. The elected government of President Asif Ali Zardari and Prime Minister Yousaf Raza Gillani is seeking short-term financial assistance from a number of sources, including the International Monetary Fund (IMF), China, and an informal group of nations (including the United States) known as the "Friends of Pakistan." The current crisis has placed some strain on U.S.-Pakistan relations.
Contributing Partner: UNT Libraries Government Documents Department
Permallink:digital.library.unt.edu/ark:/67531/metacrs10819/
The Global Financial Crisis: The Role of the International Monetary Fund (IMF)
Date: October 27, 2008
Creator: Weiss, Martin A.
Description: This report discusses two potential roles the International Monetary Fund (IMF) may have in helping to resolve the current global financial crisis: (1) immediate crisis control through balance of payments lending to emerging market and less-developed countries and (2) increased surveillance of the global economy through better coordination with the international financial regulatory agencies.
Contributing Partner: UNT Libraries Government Documents Department
Permallink:digital.library.unt.edu/ark:/67531/metacrs10812/
The Global Financial Crisis: The Role of the International Monetary Fund (IMF)
Date: October 30, 2008
Creator: Weiss, Martin A.
Description: This report discusses two potential roles the International Monetary Fund (IMF) may have in helping to resolve the current global financial crisis: (1) immediate crisis control through balance of payments lending to emerging market and less-developed countries and (2) increased surveillance of the global economy through better coordination with the international financial regulatory agencies.
Contributing Partner: UNT Libraries Government Documents Department
Permallink:digital.library.unt.edu/ark:/67531/metacrs10813/
Annuities and the Securities and Exchange Commission Proposed Rule 151A
Date: October 22, 2008
Creator: Webel, Baird
Description: The Securities and Exchange Commission (SEC) recently released a proposed rule that would effectively reclassify equity indexed annuities as a security product in addition to being an insurance product. This report presents the different types of annuities, explains the taxation of annuities, and disentangles the federal and state roles in the regulation of annuities. It outlines the proposed SEC rule and its current status.
Contributing Partner: UNT Libraries Government Documents Department
Permallink:digital.library.unt.edu/ark:/67531/metacrs10810/
The Emergency Economic Stabilization Act's Insurance for Troubled Assets
Date: October 8, 2008
Creator: Webel, Baird
Description: Many observers trace the root cause of recent instability in financial markets to uncertainty surrounding the value of widely held securities that are based on mortgages and mortgage-related assets. The introduction of the Emergency Economic Stabilization Act of 2008 (EESA) was designed to address said financial instability through a variety of measures, including an insurance program for "troubled assets." This report briefly summarizes and analyzes the insurance program contained in the enacted version of the EESA.
Contributing Partner: UNT Libraries Government Documents Department
Permallink:digital.library.unt.edu/ark:/67531/metacrs10806/
Financial Turmoil: Comparing the Troubled Asset Relief Program to the Federal Reserve's Response
Date: October 8, 2008
Creator: Labonte, Marc
Description: As financial conditions have deteriorated over the past year, the Federal Reserve (FeD) has greatly increased its lending to financial firms. It has also expanded the scope of eligible borrowers to include non-bank financial firms. Some have asked why these loans have not restored financial stability, and if the purchase of up to $700 billion of distressed assets through the recently enacted Troubled Asset Relief Program (TARP) might lead to a different result. Financial assistance to financial firms entails considerable risks to taxpayers. This report analyzes the risks and possible benefits of federally-assisted loans to banks and financial firms, especially in light of the financial crisis that came to a head in September 2008.
Contributing Partner: UNT Libraries Government Documents Department
Permallink:digital.library.unt.edu/ark:/67531/metacrs10804/
Financial Market Intervention
Date: September 29, 2008
Creator: Murphy, Edward V.
Description: Financial markets continue to experience significant disturbance and the banking sector remains fragile. Efforts to restore confidence have been met with mixed success thus far. After attempting to deal with troubled institutions on a case-by-case basis, Treasury has proposed a plan to purchase mortgage-related assets to alleviate stress in financial markets and in the banking system. This report provides answers to some frequently asked questions concerning the financial disruptions of September 2008 and the Troubled Asset Relief Program (TARP) in H.R. 3997.
Contributing Partner: UNT Libraries Government Documents Department
Permallink:digital.library.unt.edu/ark:/67531/metacrs10801/
The U.S. Financial Crisis: Lessons from Chile
Date: September 29, 2008
Creator: Hornbeck, J. F.
Description: From 1981-1984, Chile experienced a banking crisis that in relative terms had a cost comparable in size to that perhaps facing the United States today. The Chilean Central Bank acted quickly and decisively in three ways to restore faith in the credit markets. It restructured firm and household loans, purchased nonperforming loans temporarily, and facilitated the sale or liquidation of insolvent financial institutions. These three measures increased liquidity in the credit markets and restored the balance sheets of the viable financial institutions. This report explores this incident in detail and in relation to the current financial situation in the U.S.
Contributing Partner: UNT Libraries Government Documents Department
Permallink:digital.library.unt.edu/ark:/67531/metacrs10799/
The U.S. Financial Crisis: Lessons from Sweden
Date: September 29, 2008
Creator: Jackson, James K.
Description: In the early 1990s, Sweden faced a large banking and exchange rate crisis which it eventually resolved. Four lessons that emerged from Sweden's experience are: 1) the resolution process must be transparent; 2) the resolution agency must be politically and financially independent; 3) market discipline must be maintained; and 4) there must be a plan to jump-start credit flows in the financial system. This report provides an overview of the Swedish banking crisis and an explanation of the measures Sweden used to restore its banking system to health.
Contributing Partner: UNT Libraries Government Documents Department
Permallink:digital.library.unt.edu/ark:/67531/metacrs10800/