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Speech
Building Financial System Resilience
Mester, Loretta J. (2024-02-29)
To conclude, a resilient financial system plays an important role in ensuring a strong economy. After the global financial crisis, steps were taken to shore up the resilience of the banking system. Systemically important banking institutions have higher capital and liquidity buffers and better risk-management systems than they did. The sound banking system was able to lend important support to households and businesses throughout the pandemic. But the financial system is dynamic, with new products, business models, and technologies being introduced, and the economic environment can change ...
Speech

Working Paper
A quality and risk-adjusted cost function for banks: evidence on the \" too-big-to-fail\" doctrine
Mester, Loretta J.; Hughes, Joseph P. (1991)
Working Papers , Paper 91-21

Speech
Transitions: The Economy, Monetary Policy, and Policy Communications; 02.19.19, Lyons Companies and the Center for Economic Education and Entrepreneurship, Alfred Lerner College of Business and Economics, University of Delaware, Newark, DE
Mester, Loretta J. (2019-02-19)
If I had to choose a banner headline, I would characterize 2019 as a year of transitions, for the economy, for monetary policy, and for how we communicate about policy. I would like to spend my time this morning on some of the factors affecting these transitions. The views I?ll present today are my own and not necessarily those of the Federal Reserve System or my colleagues on the Federal Open Market Committee.
Speech , Paper 106

Working Paper
Explaining the dramatic changes in performance of U.S. banks: technological change, deregulation, and dynamic changes in competition.
Berger, Allen N.; Mester, Loretta J. (2002)
The authors investigate the effects of technological change, deregulation, and dynamic changes in competition on the performance of U.S. banks. The authors' most striking result is that during 1991-1997, cost productivity worsened while profit productivity improved substantially, particularly for banks engaging in mergers. The data are consistent with the hypothesis that banks tried to maximize profits by raising revenues as well as reducing costs. Banks appeared to provide additional or higher quality services that raised costs but also raised revenues by more than the cost increases. The ...
Working Papers , Paper 01-6

Working Paper
When does the prime rate change?
Mester, Loretta J.; Saunders, Anthony (1990)
Working Papers , Paper 90-16

Speech
The U.S. Economy and Monetary Policy Remarks for the Panel Discussion, “The United States and the Global Economic Outlook” National Association for Business Economics/American Economic Association Meetings San Francisco, CA January 3, 2016
Mester, Loretta J. (2016-01-03)
I thank the National Association for Business Economics for organizing this session and giving me the opportunity to discuss the outlook for the U.S. economy and monetary policy. The views I?ll present today are my own and not necessarily those of the Federal Reserve System or my colleagues on the FOMC.
Speech , Paper 65

Working Paper
Potential competitive effects on U.S. bank credit card lending from the proposed bifurcated application of Basel II
Lang, William W.; Vermilyea, Todd A.; Mester, Loretta J. (2005)
This paper analyzes the potential competitive effects of the proposed bifurcated application of Basel II capital regulations in the United States on bank credit card lending activities. For this purpose, the authors consider the Basel II regulations as stated in the June 2004 Basel Committee Framework Agreement. ; Also issued as Payment Cards Center Discussion Paper No. 05-21 ; Superseded by Working Paper 07-09
Working Papers , Paper 05-29

Speech
Perspectives on the Economic Outlook and Monetary Policy. University of Pittsburgh Joseph M. Katz Graduate School of Business and Deloitte LLP, Pittsburgh, PA
Mester, Loretta J. (2018-04-19)
Let me begin by thanking Dean Arjang Assad of the Katz Graduate School of Business and Dmitri Shiry of Deloitte for inviting me to speak with you this evening. Dmitri performs important public service as a member of the board of directors of the Cleveland Fed?s Pittsburgh Branch, and it just so happens that this building formerly housed our branch. The regional nature of the Federal Reserve has served the country well for more than 100 years. It allows monetary policy decisions to take into account the diversity of the American economy and its people and helps ensure that those decisions ...
Speech , Paper 97

Speech
Remarks on the FOMC’s Monetary Policy Framework; 02-23-2018: Panel Remarks at the 2018 U.S. Monetary Policy Forum, Sponsored by the Initiative on Global Markets at the University of Chicago Booth School of Business, New York, NY
Mester, Loretta J. (2018-02-23)
I will focus my brief remarks on the FOMC?s monetary policy framework for determining the appropriate policy to promote our longer-run monetary policy goals. Recently, some economists and policymakers have recommended that the FOMC evaluate its monetary policy framework. Indeed, a careful reader of the January FOMC minutes, released earlier this week, might have noticed that a few participants suggested such an examination. The FOMC has not indicated whether or not it will undertake such a review. But let me provide my own thoughts on the rationale for undertaking an assessment, what it might ...
Speech , Paper 94

Speech
Perspectives on the Economic Outlook and Banking Supervision and Regulation; 2017-08-02; The Community Bankers Association of Ohio Annual Convention, Cincinnati, OH
Mester, Loretta J. (2017-08-02)
Today, I enjoy the fruits of the strong relationship that has developed between Ohio bankers and the Cleveland Fed. The bankers who serve on our Community Depository Institutions Advisory Council (CDIAC) and on our board of directors generously provide me with their valuable insights into regional economic and banking conditions. As you all know, community banks play a vital role in the economic health of their communities, providing creditworthy businesses the wherewithal to prosper and households the ability to improve their financial standing and quality of life. Because of their important ...
Speech , Paper 85

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