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Series:Financial Industry Studies Working Paper 

Working Paper
Payments-related intraday credit differentials and the emergence of a vehicle currency

The U.S. dollar serves as a vehicle currency or medium of exchange in the global foreign exchange markets. After reviewing some of the existing theories on vehicle currencies, the hypothesis put forth is that the dollar's role is linked to the relatively low cost of payments-related intraday credit available to payment system participants. Differences in the types of measures used by payment system operators to reduce settlement and systemic risk in the payment system give rise to liquidity differentials between currencies. ; After reviewing the types of intraday credit facilities extended to ...
Financial Industry Studies Working Paper , Paper 97-3

Working Paper
Predicting bank failure using DEA to quantify management quality

Financial Industry Studies Working Paper , Paper 94-1

Working Paper
The role of bank capital in bank loan growth: market and accounting measures

Financial Industry Studies Working Paper , Paper 92-3

Working Paper
The determinants of the wealth effects of banks' expanded securities powers

After several unsuccessful attempts by Congress to repeal Glass-Steagall restrictions on banks, the Federal Reserve more than doubled the revenue that commercial banking organizations' securities subsidiaries may earn from certain securities activities. The wealth effects associated with this event for a sample of publicly traded banking organizations are examined. We find evidence that indicates the revenue limit resulted in a less-than-optimal mix of activities for securities subsidiaries. However, subsequent merger activity that could have been generated by the revenue increase was not ...
Financial Industry Studies Working Paper , Paper 99-1

Working Paper
Empirically assessing the role of moral hazard in increasing the risk exposure of Texas banks

Financial Industry Studies Working Paper , Paper 90-4

Working Paper
Brokered deposits and thrift institutions

Financial Industry Studies Working Paper , Paper 92-1

Working Paper
Risk and failure among newly established Texas banks

Financial Industry Studies Working Paper , Paper 90-6

Working Paper
Evaluating the productive efficiency and performance of U.S. commercial banks

This paper reviews various approaches to the measurement of core inflation that have been proposed in recent years. The objective is to determine whether the European Central Bank (ECB) should pay special attention to one or other of these measures in assessing inflation developments in the euro area. I put particular emphasis on the conceptual and practical problems that arise in the measurement of core inflation, and propose some criteria that could be used by the ECB to choose a core inflation measure.
Financial Industry Studies Working Paper , Paper 99-3

Working Paper
Competitive viability in banking: looking beyond the balance sheet.

Financial Industry Studies Working Paper , Paper 97-5

Working Paper
Adverse selection and competing deposit insurance systems in pre-depression Texas

In 1910, Texas instituted a highly unique deposit insurance program for its state chartered banks consisting of two separate plans: the depositors guaranty fund, similar in operation to the deposit insurance schemes adopted in several other states; and the depositors bond security system, which required the procurement of a privately issued insurance policy. We hypothesize that the provision of a choice in funds led to risk-sorting among the banks, with the relatively conservative institutions opting for the comparatively rigorous bond security system. Employing a probit model with ...
Financial Industry Studies Working Paper , Paper 97-4

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