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Journal Article
Risky business: clearing checks during banking crises
Journal Article
Regional lending in a world of interstate banking
Report
What was behind the M2 breakdown?
A deterioration in the link between the M2 monetary aggregate and GDP, along with large errors in predicting M2 growth, led the Board of Governors to downgrade the M2 aggregate as a reliable indicator of monetary policy in 1993. In this paper, we argue that the financial condition of depository institutions was a major factor behind the unusual pattern of M2 growth in the early 1990s. By constructing alternative measures of M2 based on banks? and thrifts? capital positions, we show that the anomalous behavior of M2 in the early 1990s disappears. Specifically, after accounting for the effect ...
Journal Article
Money, wages, and factor scarcity as predictors of inflation
Journal Article
Banking on Basel : an alternative for capital requirements
Equity capital represents a bank?s net worth?the difference between its assets and liabilities. Put another way, it?s the value of assets financed by the bank?s owners, rather than depositors or other sources of funds. Capital serves as a buffer to absorb losses and prevent failures and figures prominently in the banking industry?s ability to lend.
Journal Article
Eleventh District banking industry weathers financial storms
In 2009, the banking industry continued to feel the fallout from the financial crisis that began in mid-2007. Some good news was revealed in recently available first-quarter data, however, which showed profitability rebounding and increases in asset-quality problems slowing down. Whether measured by profits or problems, Eleventh District banks were roughly "twice as good and half as bad" as their counterparts across the nation. Most likely, this reflects the fact that the economic downturn was less severe in the district than in other parts of the nation. ; Another noticeable difference ...