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Journal Article
The international community's response to the Asian financial crisis
The U.S. economy just completed another stellar year, marked by strong growth and declining inflation. Indeed, the low inflation of recent years has been instrumental in reinvigorating the U.S. economy, helping unleash a new vibrancy and confidence across the country. However, the shock wave working its way toward us from the Western Pacific will likely be a countervailing force in our economy.> > Financial turmoil in a handful of Asian countries should slow the growth of spending by foreigners on U.S. goods and services. On balance, most economists are currently guessing that reduced demand ...
Journal Article
Bank examination classifications and loan risk
Journal Article
Is your bank account safe? : President's message
Journal Article
The U.S. economy: a look ahead
In a speech made to the Missouri Bankers Association in January of this year, President Hoenig of the Federal Reserve Bank of Kansas City was optimistic about our economy's future. The strong performance of the U.S. economy in 1994 is likely to continue in 1995, but at a more moderate and sustainable pace. The long-run outlook for the economy is also very positive.> Achieving our economy's full potential in the coming years, however, should not be taken for granted. Rather, it will depend on how successful we are in promoting open international markets, encouraging savings and investment, and ...
Journal Article
Should more supervisory information be publicly disclosed?
Within our financial system, a bank?s prospects and viability depend on its ability to attract investors and customers. This fundamental need means that banks and bank management must operate under the framework of market discipline and in a manner that meets the dictates of market participants. In other words, market discipline serves as the principal force influencing the performance of our financial markets.> In a speech given at the Federal Reserve Bank of Chicago?s Annual Conference on Bank Structure and Competition, Mr. Hoenig explored how the financial revolution we are now ...
Journal Article
Rethinking financial regulation
In recent years, revolutionary changes in financial markets, combined with incidents such as Barings and Daiwa, have revived concerns about the adequacy of financial regulation. Historically, financial regulatory policy has been driven by the view that to maintain the health of the financial system you must maintain the health of individual institutions.> In light of ongoing changes in financial markets, however, extending the traditional approach to financial market regulation may not work. Extending the traditional approach may be too costly and difficult, especially for large, globally ...
Journal Article
Challenges for the banking industry in the 1990s
In the 1990s, banks will face a variety of challenges. These include meeting new loan competition, managing market risks, maintaining a funding base, and developing successful strategies in banking consolidation. ; This speech takes a careful look at these challenges. It also examines how the trends in banking may affect financial stability and what steps may be necessary for banks to survive and prosper in a more complex marketplace. Among the steps discussed are creating an effective and efficient supervisory approach and reforming the banking system to provide a better way of protecting ...