Search Results
Speech
Fixing wholesale funding to build a more stable financial system
Remarks at the New York Bankers Association's 2013 Annual Meeting & Economic Forum, The Waldorf Astoria, New York City.
Conference Paper
Changing financial markets and community development: an overview
Journal Article
Recent trends in the profitability of credit card banks
Competition among credit card issuers has increased sharply over the past few years. Despite this trend, the profitability of credit card banks not only remains high relative to the rest of the banking industry but continues to grow. This article examines recent trends in credit card bank profitability and, by looking beyond the aggregate data, uncovers some important differences between credit card banks owned by bank holding companies and those owned by nonbank firms.
Journal Article
Still toe-to-toe: banks and nonbanks at the end of the '80s
Working Paper
Banking and commerce: a liquidity approach
This paper looks at the advantages and disadvantages of mixing banking and commerce, using the "liquidity" approach to financial intermediation. Adding a commercial firm makes it easier for a bank to dispose of assets seized in a loan default. This "internal market" increases the liquidity of such assets and improves the bank's ability to perform financial intermediation. More generally, owning a commercial firm may act either as a substitute or a complement to commercial lending. In some cases, a bank will voluntarily refrain from making loans, choosing to become a nonbank bank in an ...
Conference Paper
The unbanked and the alternative financial sector
Newsletter
Remittances and the unbanked
Journal Article
Bank and nonbank competition for small business credit: evidence from the 1987 and 1993 national surveys of small business finances
Using newly available data from the Board's 1993 National Survey of Small Business Finances together with data from the 1987 survey, this article analyzes competition between banks and nonbanks in the U.S. market for small business credit. It explores nonbank competition as an explanation for the decline in banks' share of business lending by examining sources of credit used by small firms. It examines both the bank and nonbank shares of the dollar amount of credit to small businesses, including how these shares have changed from 1987 to 1993, and the incidence of small business borrowing, ...