The current financial market debate
An intensive debate is currently being held in various committees and groups on the consequences to be drawn from the financial crisis and the turbulence in the financial markets. These are some of the main documents; other documents in German are available on the TSI German website.
Debt and Deleveraging
The recent bursting of the great global credit bubble not only led to the first worldwide recession since the 1930s but also left an enormous burden of debt that now weighs on the prospects for recovery. Today, government and business leaders are facing the twin questions of how to prevent similar crises in the future and how to guide their economies through the looming and lengthy process of debt reduction, or deleveraging.
To help address these questions, the McKinsey Global Institute launched a research effort to understand the growth of debt and leverage before the crisis in different countries, the economic consequences of deleveraging, and the practical implications for policy makers, financial regulators, and business executives.
Credit Risk Transfer, Developments from 2005 to 2007
Basel Committee on Banking Supervision, Joint Forum Report, July 2008
Final Report of the IIF Committee on Market Best Practices
Institute of International Finance, July 2008
Summary Report of Issues Identified in the Commission Staff's Examination of Select Credit Rating Agencies
United States Securities and Exchange Commission, 8 July 2008
Interim Report of the IIF Committee on Market Best Practices
Institute of International Finance, April 2008
Report of the Financial Stability Forum on Enhancing Market and Institutional Resilience
Financial Stability Forum, April 2008