Origins: where every fact comes from

Admati, A. and Hellwig, M., The Bankers' New Clothes: What's Wrong with Banking and What to Do about It, Princeton University Press, 2013.

Alternative Reference Rates Committee (ARRC), SOFR Starter Kit and related user guides.

Aristotle, Politics, Book I, chapter 11 (the story of Thales and the olive presses).

Association of German Pfandbrief Banks (vdp), history of the Pfandbrief.

Avalos, F., Ehlers, T. and Eren, E., “September stress in dollar repo markets: passing or structural?”, BIS Quarterly Review, December 2019.

Bagehot, W., Lombard Street: A Description of the Money Market, Henry S. King, 1873.

Bank for International Settlements, BIS Bulletin and BIS Quarterly Review articles on the March 2020 US Treasury market turmoil.

Bank for International Settlements, BIS Bulletin No 15, 2020, on US dollar swap lines.

Bank for International Settlements, Financial Stability Institute, FSI Connect tutorials and the online Basel Framework.

Bank for International Settlements, OTC derivatives statistics (semi-annual survey).

Bank for International Settlements, Triennial Central Bank Survey of Foreign Exchange and Over-the-counter (OTC) Derivatives Markets, 2022 and 2025 editions.

Bank of England, Board of Banking Supervision, Report of the Board of Banking Supervision Inquiry into the Circumstances of the Collapse of Barings, HMSO, July 1995.

Bank of England, Financial Policy Committee, records of 2023 on the resilience of LDI funds.

Bank of England, Financial Stability Report, December 2022 (the LDI episode).

Bank of England, Financial Stability Report, July 2019.

Bank of England, Financial Stability Report, October 2008.

Bank of England, market notices of 28 September and 14 October 2022 on temporary purchases of long-dated gilts.

Bank of England, “SONIA interest rate benchmark”: key features and methodology.

Bank of England, the Chancellor's monetary policy remit (2% inflation target).

Bank of Japan, statement on monetary policy, 19 March 2024.

Bank of Japan, statement on the 2% price stability target, January 2013.

Basel Committee on Banking Supervision and IOSCO, Margin requirements for non-centrally cleared derivatives, BIS, 2013 (revised 2015, 2019 and 2020).

Basel Committee on Banking Supervision, Basel III leverage ratio framework and disclosure requirements, BIS, January 2014.

Basel Committee on Banking Supervision, Basel III: A global regulatory framework for more resilient banks and banking systems, BIS, December 2010 (revised June 2011).

Basel Committee on Banking Supervision, Basel III: Finalising post-crisis reforms, BIS, December 2017.

Basel Committee on Banking Supervision, Basel III: The Liquidity Coverage Ratio and liquidity risk monitoring tools, BIS, January 2013.

Basel Committee on Banking Supervision, “History of the Basel Committee”, BIS website.

Basel Committee on Banking Supervision, Interest rate risk in the banking book, BIS, April 2016.

Basel Committee on Banking Supervision, International Convergence of Capital Measurement and Capital Standards: A Revised Framework (Basel II), BIS, June 2004.

Basel Committee on Banking Supervision, Minimum capital requirements for market risk, BIS, January 2019.

Basel Committee on Banking Supervision, Pillar 3 disclosure requirements: consolidated and enhanced framework, BIS, March 2017.

Basel Committee on Banking Supervision, Supervisory guidance for managing risks associated with the settlement of foreign exchange transactions, BIS, February 2013.

Basel Committee on Banking Supervision, The Basel Framework (consolidated standards), BIS; chapters cited include CAP10 (definition of capital), CRE20 (standardised approach to credit risk), CRE22 (credit risk mitigation), CRE40 onwards (securitisation) and DIS (Pillar 3 disclosure templates).

Beinecke Rare Book and Manuscript Library, Yale University: the 1648 Lekdijk Bovendams water board bond.

Berkshire Hathaway Inc., letters to shareholders, including Warren E. Buffett's Chairman's letter in the 2002 Annual Report.

Black, F. and Scholes, M., “The Pricing of Options and Corporate Liabilities”, Journal of Political Economy 81(3), 1973.

Bloomberg, Global Aggregate negative-yielding debt data (December 2020).

Board of Governors of the Federal Reserve System, Bank Term Funding Program announcement, 12 March 2023.

Board of Governors of the Federal Reserve System, “Central bank liquidity swaps” (web pages).

Board of Governors of the Federal Reserve System, press releases of 21 September 2008.

Board of Governors of the Federal Reserve System, Review of the Federal Reserve's Supervision and Regulation of Silicon Valley Bank, April 2023.

Board of Governors of the Federal Reserve System, statement of 20 October 1987 on its readiness to serve as a source of liquidity.

Board of Governors of the Federal Reserve System, Statement on Longer-Run Goals and Monetary Policy Strategy (first adopted January 2012).

Bodie, Z., Kane, A. and Marcus, A. J., Investments, McGraw Hill.

Bogle, J. C., The Little Book of Common Sense Investing, Wiley.

Borio, C., McCauley, R., McGuire, P. and Sushko, V., “Covered interest parity lost: understanding the cross-currency basis”, BIS Quarterly Review, September 2016.

Brealey, R. A., Myers, S. C. and Allen, F., Principles of Corporate Finance, McGraw Hill.

Brunnermeier, M. K. and Pedersen, L. H., “Market Liquidity and Funding Liquidity”, Review of Financial Studies 22(6), 2009.

Calaprice, A. (ed.), The Ultimate Quotable Einstein, Princeton University Press, 2011.

California Department of Financial Protection and Innovation, order taking possession of Silicon Valley Bank, 10 March 2023.

Campbell, J. Y. and Shiller, R. J., “Valuation Ratios and the Long-Run Stock Market Outlook”, Journal of Portfolio Management 24(2), 1998.

Campbell, J. Y., Lo, A. W. and MacKinlay, A. C., The Econometrics of Financial Markets, Princeton University Press, 1997.

Cboe Global Markets, company history (the first listed share options, 1973).

Cboe Global Markets, VIX White Paper: Cboe Volatility Index (methodology) and VIX historical data.

CFA Institute, Fixed Income Analysis (CFA Institute Investment Series), Wiley, the reading “Introduction to Fixed-Income Valuation”.

Chen, H.-C. and Ritter, J. R., “The Seven Percent Solution”, Journal of Finance 55(3), 2000.

Choudhry, M., The Bond and Money Markets: Strategy, Trading, Analysis, Butterworth-Heinemann, 2001.

Choudhry, M., The Repo Handbook, 2nd edition, Butterworth-Heinemann, 2010.

CME Group, Chicago SRW wheat futures contract specifications.

CME Group, Euro FX futures contract specifications.

CME Group, SPAN margin methodology overview.

CME Group, Term SOFR reference rates methodology.

CPMI-IOSCO (Committee on Payments and Market Infrastructures and International Organization of Securities Commissions), Principles for Financial Market Infrastructures, BIS, April 2012.

Culp, C. and Miller, M., “Metallgesellschaft and the Economics of Synthetic Storage”, Journal of Applied Corporate Finance 7(4), 1995.

Damodaran, A., Investment Valuation, Wiley.

Davies, P., Gower's Principles of Modern Company Law, Sweet & Maxwell.

Diamond, D. W. and Dybvig, P. H., “Bank Runs, Deposit Insurance, and Liquidity”, Journal of Political Economy 91(3), 1983.

Dimson, E., Marsh, P. and Staunton, M., Triumph of the Optimists: 101 Years of Global Investment Returns, Princeton University Press, 2002.

Du, W., Tepper, A. and Verdelhan, A., “Deviations from Covered Interest Rate Parity”, Journal of Finance 73(3), 2018.

EIOPA, risk-free interest rate term structures (monthly publication and technical documentation).

Ellinger, E. P., Lomnicka, E. and Hare, C., Ellinger's Modern Banking Law, Oxford University Press.

Ellis, K., Michaely, R. and O'Hara, M., “When the Underwriter Is the Market Maker: An Examination of Trading in the IPO Aftermarket”, Journal of Finance 55(3), 2000.

Engel, C., “The forward discount anomaly and the risk premium: a survey of recent evidence”, Journal of Empirical Finance 3(2), 1996.

ESMA, Guidelines on Alternative Performance Measures, 2015.

Estrella, A. and Mishkin, F. S., “Predicting U.S. Recessions: Financial Variables as Leading Indicators”, Review of Economics and Statistics 80(1), 1998.

European Banking Authority, Risk Dashboard and its methodological guide (quarterly).

European Central Bank, Financial Stability Review (bank price-to-book charts, 2012 to 2020 issues).

European Central Bank, key ECB interest rates (historical deposit facility rates).

European Central Bank, monetary policy decisions, press release of 5 June 2014.

European Central Bank, monetary policy strategy statement, 2021.

European Central Bank, Recommendation ECB/2020/19 on dividend distributions during the COVID-19 pandemic, 27 March 2020.

European Central Bank, supervisory banking statistics.

European Money Markets Institute (EMMI), EURIBOR hybrid methodology and EONIA cessation notices.

European Union, Commission Delegated Regulation (EU) 2015/2205 (EMIR clearing obligation for interest rate swaps). Link

European Union, Commission Delegated Regulation (EU) 2015/35 (Solvency II), including articles 290 to 298 on the Solvency and Financial Condition Report. Link

European Union, Commission Delegated Regulation (EU) 2022/27 (short position notification threshold). Link

European Union, Directive (EU) 2016/2341 (IORP II). Link

European Union, Directive (EU) 2017/1132 relating to certain aspects of company law (Article 72, pre-emption rights). Link

European Union, Directive (EU) 2019/2034 on the prudential supervision of investment firms (IFD). Link

European Union, Directive (EU) 2023/2225 on credit agreements for consumers (the recast Consumer Credit Directive). Link

European Union, Directive (EU) 2024/927 (revision of the AIFMD and UCITS Directive). Link

European Union, Directive 2008/48/EC on credit agreements for consumers (Consumer Credit Directive). Link

European Union, Directive 2009/138/EC of the European Parliament and of the Council (Solvency II); articles cited include 75 (valuation), 77 (technical provisions), 87 and 88 (own funds), and 100 and 101 (the SCR). Link

European Union, Directive 2009/65/EC (UCITS). Link

European Union, Directive 2011/61/EU on alternative investment fund managers (AIFMD). Link

European Union, Directive 2014/49/EU on deposit guarantee schemes. Link

European Union, Directive 2014/65/EU (MiFID II), including Article 57 (position limits). Link

European Union, Regulation (EC) No 1060/2009 on credit rating agencies. Link

European Union, Regulation (EU) 2015/2365 on transparency of securities financing transactions and of reuse (SFTR). Link

European Union, Regulation (EU) 2016/1011 on indices used as benchmarks (the Benchmarks Regulation). Link

European Union, Regulation (EU) 2017/1129 (the Prospectus Regulation). Link

European Union, Regulation (EU) 2017/1131 on money market funds. Link

European Union, Regulation (EU) 2017/2401 (amending the Capital Requirements Regulation for securitisations). Link

European Union, Regulation (EU) 2017/2402 (the Securitisation Regulation). Link

European Union, Regulation (EU) 2019/2033 on the prudential requirements of investment firms (IFR). Link

European Union, Regulation (EU) 2019/876 (CRR2, amending the Capital Requirements Regulation). Link

European Union, Regulation (EU) 2021/23 on the recovery and resolution of central counterparties. Link

European Union, Regulation (EU) No 236/2012 on short selling and certain aspects of credit default swaps. Link

European Union, Regulation (EU) No 575/2013 (Capital Requirements Regulation), including Articles 77 and 78 and Part Eight (disclosure). Link

European Union, Regulation (EU) No 600/2014 (MiFIR), transparency provisions. Link

European Union, Regulation (EU) No 648/2012 on OTC derivatives, central counterparties and trade repositories (EMIR). Link

European Union, Regulation (EU) No 909/2014 (the Central Securities Depositories Regulation). Link

European Union, Treaty on the Functioning of the European Union, Article 127.

Fabozzi, F. J. and Fabozzi, F. A., Bond Markets, Analysis, and Strategies, 10th edition, Pearson, 2021.

Fama, E. F., “Forward and spot exchange rates”, Journal of Monetary Economics 14(3), 1984.

FASB, Accounting Standards Codification Topic 230, Statement of Cash Flows.

FASB, Accounting Standards Codification Topic 320, Investments: Debt Securities.

FASB, Accounting Standards Codification Topics 815 (Derivatives and Hedging) and 830 (Foreign Currency Matters).

FASB, Accounting Standards Update 2016-13, Financial Instruments: Credit Losses (Topic 326) (CECL).

Federal Deposit Insurance Corporation (FDIC), deposit insurance pages: “Deposit Insurance FAQs” and “Understanding Deposit Insurance” (fdic.gov).

Federal Deposit Insurance Corporation (FDIC), Quarterly Banking Profile.

Federal Reserve Bank of New York, Secured Overnight Financing Rate (SOFR): reference rate methodology and data.

Federal Reserve Bank of New York, “The Yield Curve as a Leading Indicator” (recession probability page).

Financial Conduct Authority, announcement on the future cessation and loss of representativeness of the LIBOR benchmarks, 5 March 2021, and later notices on the end of LIBOR (to 2024).

Financial Conduct Authority, Bailey, A., “The future of LIBOR”, speech at Bloomberg London, 27 July 2017.

Financial Conduct Authority, Banking: Conduct of Business sourcebook (BCOBS).

Financial Conduct Authority, Consumer Credit sourcebook (CONC).

Financial Conduct Authority, statements on the Woodford Equity Income Fund, 2019.

Financial Crisis Inquiry Commission, The Financial Crisis Inquiry Report, US Government Printing Office, January 2011.

Financial Services Authority, Final Notice to Barclays Bank plc, 27 June 2012.

Financial Stability Board, Holistic Review of the March Market Turmoil, November 2020.

Financial Stability Board, Key Attributes of Effective Resolution Regimes for Financial Institutions, 2011 (updated 2014).

Financial Stability Board, OTC Derivatives Market Reforms: Implementation progress (annual reports).

Financial Stability Board, Reforming Major Interest Rate Benchmarks, July 2014, and its later progress reports.

Financial Stability Board, Revised Policy Recommendations to Address Structural Vulnerabilities from Liquidity Mismatch in Open-Ended Funds, December 2023.

Financial Stability Board, Strengthening Oversight and Regulation of Shadow Banking: Policy Framework for Addressing Shadow Banking Risks in Securities Lending and Repos, August 2013.

Financial Stability Forum, Report on Addressing Procyclicality in the Financial System, April 2009.

FINMA (Swiss Financial Market Supervisory Authority), Lessons Learned from the CS Crisis, December 2023.

FINMA, press release on the Credit Suisse AT1 write-down, 23 March 2023.

Fisher, I., Appreciation and Interest, American Economic Association, 1896.

Fisher, I., The Theory of Interest, Macmillan, 1930.

Fleming, M. J. and Sarkar, A., “The Failure Resolution of Lehman Brothers”, Federal Reserve Bank of New York Economic Policy Review 20(2), 2014.

Freddie Mac, Primary Mortgage Market Survey (weekly series).

G20, Declaration on Strengthening the Financial System, London Summit, 2 April 2009.

G20, Leaders' Statement: The Pittsburgh Summit, 24–25 September 2009.

Galati, G., “Settlement risk in foreign exchange markets and CLS Bank”, BIS Quarterly Review, December 2002.

Galbraith, J. K., The Great Crash 1929, first published 1955.

Geman, H., Commodities and Commodity Derivatives, Wiley, 2005.

Global Foreign Exchange Committee, FX Global Code (first published 2017).

Goodhart, C., The Basel Committee on Banking Supervision: A History of the Early Years, 1974–1997, Cambridge University Press, 2011.

Gordon, M. J. and Shapiro, E., “Capital Equipment Analysis: The Required Rate of Profit”, Management Science 3(1), 1956.

Gordon, M. J., “Dividends, Earnings, and Stock Prices”, Review of Economics and Statistics 41(2), 1959.

Gorton, G. and Metrick, A., “Securitized banking and the run on repo”, Journal of Financial Economics 104(3), 2012.

Gregory, J., Central Counterparties: Mandatory Central Clearing and Initial Margin Requirements for OTC Derivatives, Wiley, 2014.

Grullon, G. and Michaely, R., “Dividends, Share Repurchases, and the Substitution Hypothesis”, Journal of Finance 57(4), 2002.

Harris, L., Trading and Exchanges: Market Microstructure for Practitioners, Oxford University Press, 2003.

Harvey, C. R., PhD dissertation on the term structure and economic growth, University of Chicago, 1986.

Harvey, C. R., “The real term structure and consumption growth”, Journal of Financial Economics 22, 1988.

HM Treasury, The Green Book: Central Government Guidance on Appraisal and Evaluation.

HM Treasury, The Wheatley Review of LIBOR: final report, September 2012.

House of Commons Treasury Committee, The run on the Rock, Fifth Report of Session 2007–08.

House of Lords, Foley v Hill (1848) 2 HLC 28.

Hull, J. C., Options, Futures, and Other Derivatives, 11th edition, Pearson, 2021.

Hull, J. C., Risk Management and Financial Institutions, Wiley.

IAASB, ISA 701 Communicating Key Audit Matters in the Independent Auditor's Report.

IASB (International Accounting Standards Board), Conceptual Framework for Financial Reporting, 2018.

IASB, IAS 1 Presentation of Financial Statements.

IASB, IAS 19 Employee Benefits.

IASB, IAS 21 The Effects of Changes in Foreign Exchange Rates.

IASB, IAS 37 Provisions, Contingent Liabilities and Contingent Assets.

IASB, IAS 7 Statement of Cash Flows.

IASB, IFRS 13 Fair Value Measurement.

IASB, IFRS 16 Leases (lease liability measurement).

IASB, IFRS 17 Effects Analysis, 2017.

IASB, IFRS 17 Insurance Contracts, issued 2017, amended 2020, effective 1 January 2023.

IASB, IFRS 18 Presentation and Disclosure in Financial Statements (replaces IAS 1 from 1 January 2027).

IASB, IFRS 7 Financial Instruments: Disclosures.

IASB, IFRS 9 Financial Instruments, 2014 (section 5.5 on impairment; hedge accounting).

ICE Benchmark Administration, LIBOR methodology, history and cessation notices.

IFRS Foundation, jurisdiction profiles on the use of IFRS Accounting Standards.

International Association of Deposit Insurers (IADI), annual deposit insurance survey.

International Association of Insurance Supervisors (IAIS), Insurance Capital Standard.

International Association of Insurance Supervisors (IAIS), Insurance Core Principles and Common Framework for the Supervision of Internationally Active Insurance Groups (ComFrame).

International Capital Market Association (ICMA), European Repo and Collateral Council, Frequently Asked Questions on Repo (updated regularly).

International Capital Market Association (ICMA), European Repo Market Survey.

International Capital Market Association (ICMA), Global Master Repurchase Agreement, 2011 version.

International Capital Market Association (ICMA), Secondary Market Rules & Recommendations (day-count conventions).

International Monetary Fund, Global Financial Stability Report, April 2024, chapter 2 on private credit.

Investment Company Institute, Investment Company Fact Book (published yearly).

IOSCO (International Organization of Securities Commissions), Principles for Financial Benchmarks: Final Report, July 2013.

IOSCO, Objectives and Principles of Securities Regulation.

ISDA (International Swaps and Derivatives Association), 2006 ISDA Definitions, section 4.16 (Day Count Fraction).

ISDA, 2009 Credit Derivatives Determinations Committees, Auction Settlement and Restructuring CDS Protocols (the “Big Bang” and “Small Bang” protocols), and the Determinations Committees Rules.

ISDA, 2014 ISDA Credit Derivatives Definitions.

ISDA, IBOR fallback spread adjustments fixed on 5 March 2021 (published by Bloomberg as fallback adjustment vendor).

Koller, T., Goedhart, M. and Wessels, D. (McKinsey & Company), Valuation: Measuring and Managing the Value of Companies, 7th edition, Wiley, 2020.

Kyle, A. S., “Continuous Auctions and Insider Trading”, Econometrica 53(6), 1985.

LCH.Clearnet, statements on the Lehman Brothers default management, 2008.

Lehman Brothers Holdings Inc., Annual Report on Form 10-K for the fiscal year 2007.

Lloyd's of London, “Our history” (lloyds.com).

London Metal Exchange, Independent Review of events in the nickel market in March 2022 (Oliver Wyman), 2023.

London Metal Exchange, notices on the suspension of nickel trading, March 2022.

Lowenstein, R., When Genius Failed: The Rise and Fall of Long-Term Capital Management, Random House, 2000.

Macaulay, F. R., Some Theoretical Problems Suggested by the Movements of Interest Rates, Bond Yields and Stock Prices in the United States since 1856, National Bureau of Economic Research, 1938.

MacTutor History of Mathematics archive (University of St Andrews), “The number e”.

Mallaby, S., More Money Than God: Hedge Funds and the Making of a New Elite, Penguin Press, 2010.

Maor, E., e: The Story of a Number, Princeton University Press, 1994.

McLeay, M., Radia, A. and Thomas, R., “Money creation in the modern economy”, Bank of England Quarterly Bulletin, 2014 Q1.

Mello, A. and Parsons, J., “Maturity Structure of a Hedge Matters: Lessons from the Metallgesellschaft Debacle”, Journal of Applied Corporate Finance 8(1), 1995.

Merton, R. C., “On the Pricing of Corporate Debt: The Risk Structure of Interest Rates”, Journal of Finance 29(2), 1974.

Metrick, A. and Yasuda, A., “The Economics of Private Equity Funds”, Review of Financial Studies 23(6), 2010.

Mischel, W., Shoda, Y. and Rodriguez, M. L., “Delay of gratification in children”, Science 244, 1989.

Mishkin, F. S., The Economics of Money, Banking and Financial Markets, Pearson.

Moody's Investors Service, Rating Symbols and Definitions.

Multi-State Lottery Association, Powerball draw of 7 November 2022 (jackpot and cash value).

Nasdaq Clearing, statements on the member default of September 2018.

Natenberg, S., Option Volatility and Pricing, 2nd edition, McGraw-Hill, 2015.

National Association of Insurance Commissioners (NAIC), Risk-Based Capital overview (naic.org).

New York Stock Exchange, history (the Buttonwood Agreement of 1792).

Nikkei Inc., Nikkei Stock Average (Nikkei 225) index methodology.

Norman, P., Plumbers and Visionaries: Securities Settlement and Europe's Financial Market, Wiley, 2007.

O'Hara, M., Market Microstructure Theory, Blackwell, 1995.

O'Kane, D., Modelling Single-name and Multi-name Credit Derivatives, Wiley, 2008.

OECD, Pensions at a Glance (published every two years).

Office for National Statistics, Consumer price inflation, UK: October 2022.

OpenGamma (Henrard, M.), Interest Rate Instruments and Market Conventions Guide, 2nd edition, 2013.

Pacioli, L., Summa de arithmetica, geometria, proportioni et proportionalita, Venice, 1494.

PCAOB, AS 3101 The Auditor's Report on an Audit of Financial Statements When the Auditor Expresses an Unqualified Opinion (critical audit matters).

Pension Benefit Guaranty Corporation (PBGC).

Petram, L. O., The World's First Stock Exchange, Columbia University Press, 2014.

Pirrong, C., The Economics of Central Clearing: Theory and Practice, ISDA Discussion Papers No. 1, 2011.

President's Working Group on Financial Markets, Hedge Funds, Leverage, and the Lessons of Long-Term Capital Management, April 1999.

President's Working Group on Financial Markets, Overview of Recent Events and Potential Reform Options for Money Market Funds, December 2020.

Presidential Task Force on Market Mechanisms, Report of the Presidential Task Force on Market Mechanisms (the Brady Report), January 1988.

Prudential Regulation Authority, policy statements on Solvency UK.

Quote Investigator, on the “compound interest is the eighth wonder of the world” attribution to Einstein, 2011.

Reinhart, C. M. and Rogoff, K. S., This Time Is Different: Eight Centuries of Financial Folly, Princeton University Press, 2009.

Ritter, J. R. and Welch, I., “A Review of IPO Activity, Pricing, and Allocations”, Journal of Finance 57(4), 2002.

Ritter, J. R., Initial Public Offerings: Updated Statistics, University of Florida (updated yearly).

Royal Swedish Academy of Sciences, press release for the 1997 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, 14 October 1997.

S&P Dow Jones Indices, historical closing levels of the Dow Jones Industrial Average and the S&P 500.

S&P Dow Jones Indices, Index Mathematics Methodology (updated regularly).

S&P Global Ratings, press releases on Ford Motor Co.'s ratings, May 2005 and 25 March 2020.

S&P Global Ratings, S&P Global Ratings Definitions.

S&P Global Ratings, Understanding Credit Ratings (guide on its website).

Saudi Aramco, IPO prospectus and stabilisation announcements, 2019 and 2020.

Saunders, A. and Cornett, M. M., Financial Institutions Management: A Risk Management Approach, McGraw-Hill.

Saunders, A. and Cornett, M. M., Financial Markets and Institutions, McGraw-Hill.

Schaede, U., “Forwards and futures in Tokugawa-period Japan: a new perspective on the Dōjima rice market”, Journal of Banking and Finance 13, 1989.

Shiller, R. J., Irrational Exuberance, Princeton University Press, 2000.

Shiller, R. J., online data: “U.S. Stock Markets 1871–Present and CAPE Ratio”, Yale University.

Shiller, R. J., “The invention of inflation-indexed bonds in early America”, NBER Working Paper 10183, 2003.

SIFMA, Capital Markets Fact Book (annual).

Stern, N., The Economics of Climate Change: The Stern Review, HM Treasury, 2006; Cambridge University Press, 2007.

Stigum, M. and Crescenzi, A., Stigum's Money Market, 4th edition, McGraw-Hill, 2007.

Stoll, H. R., “The Relationship Between Put and Call Option Prices”, Journal of Finance 24(5), 1969.

Swiss National Bank, press release discontinuing the minimum exchange rate, 15 January 2015.

Swiss National Bank, press release setting a minimum exchange rate of CHF 1.20 per euro, 6 September 2011.

Swiss National Bank, press releases, March 2023.

Swiss Re Institute, sigma reports on world insurance markets.

Taylor, J. B., “Discretion versus policy rules in practice”, Carnegie-Rochester Conference Series on Public Policy 39, 1993.

Taylor, M., Twin Peaks: A Regulatory Structure for the New Century, Centre for the Study of Financial Innovation (CSFI), 1995.

Tuckman, B. and Serrat, A., Fixed Income Securities: Tools for Today's Markets, 3rd edition, Wiley, 2011.

UBS, Global Investment Returns Yearbook (with Dimson, Marsh and Staunton).

UK Debt Management Office, Formulae for Calculating Gilt Prices from Yields.

UK Debt Management Office, gilt auction and syndication procedures (operational notice).

UK Debt Management Office, index-linked gilts.

UK Debt Management Office, redemption of the undated gilts (4% Consols, 3½% War Loan and others), 2015.

UK Debt Management Office, Treasury Bill Information Memorandum.

UK Parliament, Bank of England Act 1998.

UK Parliament, Companies Act 2006 (pre-emption rights, sections 561 and 570–571).

UK Parliament, Insolvency Act 1986.

UK Parliament, Joint Stock Companies Act 1856.

UK Parliament, Limited Liability Act 1855.

US Commodity Futures Trading Commission, Interim Staff Report: Trading in NYMEX WTI Crude Oil Futures Contract Leading up to, on, and around April 20, 2020, November 2020.

US Commodity Futures Trading Commission, position limits rules (final rule, 2020).

US Commodity Futures Trading Commission, swap clearing requirement, 17 CFR Part 50 (December 2012 determination).

US Congress, Dodd-Frank Wall Street Reform and Consumer Protection Act, 2010, Title VII.

US Congress, Employee Retirement Income Security Act of 1974 (ERISA).

US Congress, Federal Reserve Act of 1913, section 2A (monetary policy objectives).

US Congress, Investment Advisers Act of 1940.

US Congress, Investment Company Act of 1940.

US Congress, Securities Act of 1933.

US Congress, Truth in Lending Act, implemented by Regulation Z.

US Congressional Oversight Panel, June Oversight Report: The AIG Rescue, Its Impact on Markets, and the Government's Exit Strategy, June 2010.

US Consumer Financial Protection Bureau, Regulation DD (Truth in Savings), 12 CFR Part 1030.

US Department of the Treasury, daily Treasury par yield curve rates.

US Department of the Treasury, TreasuryDirect, how Treasury auctions work.

US Department of the Treasury, TreasuryDirect, “Treasury Bills” (product terms and auction pricing).

US Department of the Treasury, TreasuryDirect, Treasury Inflation-Protected Securities (TIPS).

US federal agencies, credit risk retention rule (Regulation RR) under section 941 of the Dodd-Frank Act.

US federal banking agencies, regulatory capital rule, 12 CFR Part 217 subpart D (Pillar 3-style public disclosures).

US Office of Financial Research, US repo market data.

US Securities and Exchange Commission and Commodity Futures Trading Commission, Findings Regarding the Market Events of May 6, 2010, 30 September 2010.

US Securities and Exchange Commission, final rule on Treasury clearing (Standards for Covered Clearing Agencies for U.S. Treasury Securities), December 2023.

US Securities and Exchange Commission, final rule shortening the securities settlement cycle to T+1 (Release No. 34-96930), February 2023.

US Securities and Exchange Commission, Form 10-K General Instructions and Regulation S-K.

US Securities and Exchange Commission, Form PF and the private fund adviser registration rules under the Dodd-Frank Act.

US Securities and Exchange Commission, Regulation NMS, 2005.

US Securities and Exchange Commission, Regulation SHO (17 CFR 242.200 to 242.204) and Rule 201.

US Securities and Exchange Commission, Rule 10b-18, 17 CFR 240.10b-18 (adopted 1982, Release No. 34-19244).

US Securities and Exchange Commission, Rule 15c3-1 (net capital) and Rule 15c3-3 (customer protection).

US Securities and Exchange Commission, Staff Report on Equity and Options Market Structure Conditions in Early 2021, October 2021.

US Senate Permanent Subcommittee on Investigations, The Role of the Board of Directors in Enron's Collapse, 2002.

Valukas, A. R., Report of Anton R. Valukas, Examiner, In re Lehman Brothers Holdings Inc., US Bankruptcy Court, Southern District of New York, March 2010.

Watts, T. W., Duncan, G. J. and Quan, H., “Revisiting the marshmallow test”, Psychological Science 29, 2018.

Williams, J. B., The Theory of Investment Value, Harvard University Press, 1938.