Gringotts Wizarding Bank is well known as the only financial institution in all of the Wizarding UK as documented in the works recounting the heroics of Harry Potter. The concentration of power and wealth in this single bank needs to be weighed against the financial stability of the entire Wizarding economy. This study will consider the impact to financial risk of breaking up Gringotts Wizarding Bank into five component pieces, along the lines of the Glass-Steagall Act in the United States. The emphasis of this work is to calibrate and simulate a model of the banking and financial systems within Wizarding UK under varying stress test scenarios simulating rumors of Lord Voldemort's return or the release of magical creatures into an unsuspecting muggle populace. We conclude by comparing the economic fallout from financial crises under the two systems: (i) Gringotts Wizarding Bank as a monopoly and (ii) the split-up financial system. We do this comparison on the level of minimal system-wide capital injections that would be needed to prevent the financial crisis from surpassing the damage caused by Lord Voldemort.
Harry Potter and the Goblin Bank of Gringotts. (arXiv:1703.10469v1 [q-fin.GN])
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SIFMA Market Close Recommendations In The U.S., The U.K. And Japan For Good Friday
SIFMA has confirmed its previous holiday recommendations for the U.S., the U.K., and Japan in observance of the Good Friday holiday.
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Microsoft Chairman John W. Thompson Among Speakers For Largest U.S. Public Pension Plans Forum On Diversity In The Workplace And Financial Markets - CalPERS Snd CalSTRS To Host Forum On May 10 In Sacramento, CA
The California Public Employees' Retirement System (CalPERS) and California State Teachers' Retirement System (CalSTRS) are jointly hosting the 2017 Diversity Forum on May 10. The forum brings together investment and corporate executives to discuss ways to capitalize on the experiences, strengths, cultures, and education of today's diverse modern workforce. With recent research linking Diversity and Outperformance, it is more important than ever that executives understand how to increase diversity and build an inclusive culture.
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SIFMA Statement On Senate Passage Of CRA Resolution On Municipal Retirement Plans
SIFMA today issued the following statement from Lisa Bleier, SIFMA managing director and associate general counsel on Senate passage of on H.J. Res. 67 to override the Department of Labor’s (DOL) regulation regarding savings arrangements established by state political subdivisions for non-governmental employees:
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IIFM And ISDA Publish Islamic Credit Support Deed For Variation Margin
The International Islamic Financial Market (IIFM) and the International Swaps and Derivatives Association, Inc. (ISDA) today published a new credit support deed for Islamic hedging transactions in response to global margin requirements for non-cleared trades.
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Canadian Securities Administrators Renew Term of Chair and Vice-Chair
Pursuant to the last meeting of the members of the Canadian Securities Administrators (CSA), the term of CSA President Louis Morisset, President and CEO of the Autorité des marchés financiers, was renewed for a further two years, until March 31, 2019. Mr. Morisset was first appointed CSA Chair in March 2015.
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MIAX Options - Price Protection Process Improvements
MIAX Options has filed a proposal to amend Exchange Rule 515, Execution of Quotes and Orders, regarding improvements to the MIAX Options price protection process, which will become effective on Monday, April 3, 2017.
Please refer to MIAX Options Regulatory Circular 2017-18 for further information on the MIAX Options price protection process changes.
Updated Interface Specifications are available on the MIAX website.
Members carrying GTC orders should remain connected to the Exchange’s System until 4:25 P.M. ET to ensure that the Member receives all messages related to resting orders.
For questions regarding the MIAX Options price protection process contact Trading Operations at TradingOperations@MIAXOptions.com or (609) 897-7302.
Please direct any Regulatory questions to the Regulatory Department at Regulatory@MIAXOptions.com or (609) 897-7309.
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IOSCO Approves The Enhanced Standard For Cross-Border Enforcement Cooperation
The members of the International Organization of Securities Commissions (IOSCO) have approved the Enhanced Multilateral Memorandum of Understanding Concerning Consultation and Cooperation and the Exchange of Information (EMMoU), which offers securities regulators new enforcement powers for responding to the challenges arising from recent developments in global financial markets.
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Japan's Financial Services Agency: Launching The Financial Market Entry Consultation Desk -The FSA And Tokyo Metropolitan Government Welcome Foreign Financial Business Operatorsâ New Entry That Contributes To Strengthening Japanâs Financial Market
With the commitment to further develop Tokyo as an international financial center, the FSA launches the "Financial Market Entry Consultation Desk" to give advice on Japan’s financial regulations to foreign financial business operators (e.g. asset management firms) which plan to establish a business base in Japan.
The FSA’s Financial Market Entry Consultation Desk closely cooperates with the Tokyo Metropolitan Government's "Financial One-Stop Support Service" to support foreign financial business operators planning to set up offices in Tokyo. With this joint consultation scheme, consulters benefit not only from hands-on guidance by the FSA, but also from a variety of support menu provided by Tokyo Metropolitan Government including advice on business incorporation, living support, etc.
Reference: 
Joint Consultation Scheme by Tokyo Metropolitan Gov. and the FSA
The FSA and Tokyo Metropolitan Government welcome foreign financial business operators’ new entry that contributes to strengthening Japan’s financial market.
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IMF Releases Data On The Currency Composition Of Foreign Exchange Reserves Including Holdings In Renminbi
The International Monetary Fund (IMF) today released on its website the quarterly data on the currency composition of official foreign exchange reserves (COFER) for the quarter ending December 2016 with an expanded currency range, separately identifying holdings in renminbi (RMB) for the first time.
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MNI Chicago Business Barometer: March Chicago Business Barometer At 57.7 Vs 57.4 In February - Strongest Quarterly Performance Since Q4 2014
The MNI Chicago Business Barometer was broadly stable at 57.7 in March, following a hefty rise of 7.1 points in February to 57.4.
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Financial systems and the real economy
The great financial crisis of 2007-08 and the recession have generated active debate on the role of financial systems on the real economy. In particular, central banks have shown increased interest in how financial systems can evolve to maximise their contribution to the real economy. Many Asia-Pacific economies have also experienced a rapid growth in ...
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Wiley FINRA Series 9 Exam Review 2017: The General Securities Sales Supervisor Examination -- Option Module
Passing the General Securities Sales Supervisor Qualification Exam (Series 9 and 10) qualifies an individual to supervise a firm's sales activities in corporate, municipal, and option securities; investment company products; variable contracts; and direct participation programs. The exam covers the full range of topics related to options regulation. All candidates must have passed the Series 7 prior to taking
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Wiley FINRA Series 3 Exam Review 2017: The National Commodities Futures Examination
Wiley Series 3 Exam Review 2017 + Test Bank is a comprehensive study guide for the FINRA Series 3 exam, which qualifies candidates to sell commodities or futures contracts. Created by the experts at The Securities Institute of America, Inc., this useful guide provides the information and practice you need to ace the exam. The book is designed to help you build and fine-tune
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Wiley FINRA Series 7 Exam Review 2017: The General Securities Representative Examination
The most comprehensive guide to the Series 7 exam in the marketplace includes a self-directed study guide with all the most essential information to becoming a stockbroker. Areas covered include: Stocks, Debt Securities, Investment Banking, Securities Markets, Taxes, Securities Analysis, Self-Regulatory Organizations (SRO's), Mutual Funds and Investment Companies, Annuities, Margin, Options, Money Market Instruments, Direct Participation Programs
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Move: How Decisive Leaders Execute Strategy Despite Obstacles, Setbacks, and Stalls
Move is your guide to mobilizing your whole organization to take your business forward. Whatever your needed transformation may be: a new initiative, a new market, a new product, your fresh strategy is up against a powerful foe: an organization's tendency to stay very busy and completely engaged what it's alreadydoing. This book shows you how to cut through resistance and get your team engaged
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Wiley IFRS 2017: Interpretation and Application of IFRS Standards
Wiley IFRS 2017 offers a complete resource for the interpretation and application of the latest International Financial Reporting Standards (IFRS) as outlined by the International Accounting Standards Board (IASB). With up-to-date coverage and a host of practical tools, this book provides invaluable guidance on the expanding framework for unified financial reporting. Organised
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Wiley FINRA Series 65 Exam Review 2017: The Uniform Investment Adviser Law Examination
Consisting of 130 multiple-choice questions in the areas of ethics and legal guidelines, investment strategies, investment vehicles, and economics and analysis, the Uniform Investment Adviser Law Examination (Series 65) is designed to qualify candidates as investment adviser representatives.
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How to Read Nonprofit Financial Statements: A Practical Guide, 3rd Edition
EXPERT GUIDANCE ON HOW TO READ, INTERPRET, AND USE NONPROFIT FINANCIAL STATEMENTSUPDATED TO INCLUDE THE NEW FASB STANDARD FOR NONPROFIT FINANCIAL REPORTING
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Leading to Occupational Health and Safety: How Leadership Behaviours Impact Organizational Safety and Well-Being
Leading to Occupational Health and Safety brings together prominent researchers to explore the pervasive roles that leaders play in determining the health, safety and mental well-being of employees in organizations.
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