Several key events during the financial crisis underscored the vulnerability of the financial system to systemic risk. One such event was the September 2008 run on money market funds (MMFs), which began after the failure of Lehman Brothers Holdings, Inc., caused significant capital losses at a large MMF. Amid broad concerns about the safety of MMFs and other financial institutions, investors rapidly redeemed MMF shares, and the cash needs of MMFs exacerbated strains in short-term funding markets. These strains, in turn, threatened the broader economy, as firms and institutions dependent upon...
Several key events during the financial crisis underscored the vulnerability of the financial system to systemic risk. One such event was the Septembe...
Approximately one in twelve American households do not have a checking or savings account, and among very low-income households the proportion that is unbanked jumps to more than one in four. Not only do these low-income households lack basic financial tools, but they may also need to build their financial capability- the ability to make informed decisions about the use and management of money
Approximately one in twelve American households do not have a checking or savings account, and among very low-income households the proportion that is...
