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Monograph
Options on money market futures
Journal Article
The future of deposit insurance: an analysis of the alternatives
Deposit insurance, while reducing the threat of bank runs, also lessens bankers incentives to control risks. Reforms of the deposit insurance system are necessary to discourage excessive risk taking such as characterized the recent S&L crisis. The adoption of market value accounting, early closing of failed banks, and exposing uninsured depositors and creditors to lossesall would give bankers less incentives to take excessive risks with insured deposits.
Journal Article
The Monetary Control Act and the role of the Federal Reserve in the interbank clearing market
The Monetary Control Act of 1980 radically changed the role of the Federal Reserve in the interbank clearing market. Among other things, the Act required the Fed to give all depository institutions equal access to its payments services and to price those services competitively. In this article, Anatoli Kuprianov explains why Congress legislated this change. At least three developments in the 1970s, including the introduction of electronic payments systems, the deregulation of the thrift industry, and the decline in membership in the Federal Reserve System, forced consideration of the ...
Journal Article
The role of interest rate swaps in corporate finance
Journal Article
An analysis of Federal Reserve pricing
An abstract for this article is not available
Journal Article
Reforming deposit insurance: lessons from the savings and loan crisis
A history of the collapse of the savings and loan industry. The authors contend that FSLICs institutional structures, established decades ago, made a thrift crisis inevitable. Poorly designed incentive structures strongly encouraged regulators and thrift managers to delay proper action when thrifts became insolvent. The authors present recommendations to prevent a recurrence of the crisis.
Journal Article
Options on short-term interest rate futures
An abstract for this article is not available
Monograph
Money market futures