Search Results
Journal Article
Aggressive uses of Chapter 11 of the Federal Bankruptcy Code
An examination of the aggressive uses of the corporate bankruptcy code from an economic and historical perspective, and some implications for economic competition in the United States.
Journal Article
FDICIA's discount window provisions
A description of the evolution of supervisory policy toward failing banks over the past two decades, with particular emphasis on the modifications to Federal Reserve Banks' discount window administration as set forth by the Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA).
Journal Article
Bank receivership and conservatorship
A history of regulatory and statutory responses to failing banks, with special focus on changes since 1987 affecting receiverships, conservatorships, and bridge banks. The author argues that some of these changes, including depositor preference legislation enacted in 1993, have had unintended and still-uncertain consequences.
Journal Article
Lessons from the collapse of three state-chartered private deposit insurance funds
An analysis of the collapse of the Rhode Island Share and Deposit Indemnity Corporation, distinguishing the elements of failure and resolution that it shared with other large state-chartered deposit insurance funds--principally the Ohio and Maryland funds--from those that were unique to Rhode Island.
Working Paper
Lessons of the past and prospects for the future in lender of last resort theory
A history of the changes in the theory of the role of the lender of last resort--as a source of solvency versus liquidity support--and a discussion of the distinction between necessity and convenience (the American and European versions of lender of last resort theory) in mounting rescue operations through the central bank.
Journal Article
History of and rationales for the Reconstruction Finance Corporation
An analysis of the lessons learned from the 1930s financial rescue mechanism, the Reconstruction Finance Corporation, and a comparison of its structure to that of today's Resolution Trust Corporation.
Working Paper
An insider's view of the political economy of the too big to fail doctrine
An explanation of the relationship between interbank exposure and the too big to fail doctrine, with an examination of the interbank exposure of U.S. banks between March 1984 and March 1990.
Working Paper
The evolving legal framework for financial services
A summary of the history of financial services regulation in the United States and an examination of the conflicting models of political economy, or the legal framework, that lay behind that history.
Journal Article
Developing country lending and current banking conditions
An examination of the evolutionary stages of the debt problem in developing countries, with a discussion of how U.S. banks and financial markets have adjusted to accommodate it and some proposed solutions to the problem.
