"New York Fed on Bank Risk and U.S. Foreign Debt" (CITS Debt Watch updat

**                                                              **
                    W. Curtiss Priest, Ph.D.
          Center for Information, Technology & Society
              466 Pleasant Street Melrose, MA  02176
  E-mail: BMSLIB@MIT.EDU, Voice: 781-662-4044, FAX: 781-662-6882


                           June 36, 2003

                        Public Issue #:106

                      CITS DEBT WATCH update

           "New York Fed on Bank Risk and U.S. Foreign Debt"

             Commentary by Dr. W. Curtiss Priest, Director:

The New York Federal Reserve is one of 12 regional federal
reserve banks.

Each of these reserve banks conducts research, as best I know,
based on the policies set by that particular reserve bank.

Thus.  These reserve banks and their publications are one of
the most heavily funded research efforts about our economy.

These banks are paid out of monies that banks, which are members
of the reserve, must pay to maintain membership to the federal
reserve.

***

So.  I, again, in advance of analysis, provide pointers to
two interesting papers, one by Hitle and the other by Tille.

According to the paper summaries, Hile says that the "market
risk capital figures do in fact provide us new information
about the evolution in indivual banks' risk exposures."

Tille's paper states that by the end of 2001 "the nation's
net debt to the rest of the world had risen to $2.3 trillion."

For more information please see:

1.  http://www.newyorkfed.org/rmaghome/update/april2003/u403_2.html

2.  http://www.newyorkfed.org/rmaghome/update/april2003/u403_1.html

WCP

Editor, CITS Debt Watch