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Journal Article
The geographic distribution of financial institutions in Chicago
Journal Article
Is banking a declining industry? A historical perspective
Journal Article
Roundtable discussion: reflection on twenty years of bank regulatory reform
In 1986 the American Bankers Association asked five banking academics to assess and recommend policy options to improve the banking system's efficiency, performance, and safety. The report these five economists produced, Perspectives on Safe and Sound Banking: Past, Present, and Future, has in many ways served as a roadmap for ensuing bank regulatory reforms. In this roundtable discussion, each of the five authors reflects on the past twenty years and the current status of the banking industry and, in some cases, shares thoughts about the industry's future direction.
Journal Article
Deposit insurance reform in the FDIC Improvement Act: the experience to date
In 1991, the U.S. adopted fundamental deposit insurance reform in the FDIC Improvement Act. This article reveals why such reform was necessary in light of the severe banking crisis of the 1980s and analyzes its success to date.
Working Paper
U.S. corporate and bank insolvency regimes: an economic comparison and evaluation
In the U.S., the insolvency resolution of most corporations is governed by the federal bankruptcy code and is administered by special bankruptcy courts. Most large corporate bankruptcies are resolved under Chapter 11 reorganization proceedings. However, commercial bank insolvencies are governed by the Federal Deposit Insurance Act and are administered by the FDIC. These two resolution processes--corporate bankruptcy and bank receiverships--differ in a number of significant ways, including the type of proceeding (judicial versus administrative); the rights of managers, stockholders and ...
Journal Article
Measuring and managing interest rate risk: A primer
Journal Article
Banking and currency crisis and systemic risk: lessons from recent events
Banking and currency crises have done severe economic damage in many countries in recent years. This article examines the causes and characteristics of these crises and the public policies intended to prevent them or mitigate their adverse consequences.
Journal Article
A bank by any other name ...
?Banks? are regulated by the government. However, because the generic term bank applies to a number of different types of financial institutions that provide different services, different types of regulation are required. This issue has attracted much attention in recent years as nonfinancial firms?including Wal-Mart?attempted to obtain a ?bank.? This article traces changes in the definition of the term commercial bank for the purposes of regulation and discusses the implications for one type of ?bank?: industrial loan companies.
Conference Paper
Implementing early intervention