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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 comparison of U.S. corporate and bank insolvency resolution
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 ...
Conference Paper
Banking risk in historical perspective
Working Paper
Are some banks too large to fail? Myth and reality
Discussion Paper
The demand for currency
Working Paper
Is the banking and payments system fragile?
Journal Article
Measuring and managing interest rate risk: A primer