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Report
Why did thrift goodwill matter in 1989?
Park, Sangkyun (1998)
The Financial Institutions Reform, Recovery, and Enforcement Act of 1989 limits thrift goodwill that can be counted as regulatory capital. This paper examines if and why the goodwill clause adversely affected the market value of thrifts. The main findings are that goodwill had a large negative effect on the stock returns of low-capital thrifts in 1989 and that the negative effect persisted in the following two years. These findings suggest that a reduced put option value accounted for a large portion of the stock-price decline. The role of asymmetric information appears to have been small.
Staff Reports , Paper 51

Journal Article
Housing specialists
Walsh, Joan (1977)
FRBSF Economic Letter

Journal Article
FIRREA and the future of thrifts
Laderman, Elizabeth (1990)
FRBSF Economic Letter

Journal Article
Ex ante risk and ex post collapse of S&Ls in the 1980s
Brewer, Elijah; Mondschean, Thomas H. (1992-07)
Economic Perspectives , Volume 16 , Issue Jul

Journal Article
Mortgage for the elderly
Wilson, Ruth (1978)
FRBSF Economic Letter

Conference Paper
FIRREA: implications for the U.S. financial system
Ely, Bert (1990)
Proceedings , Paper 281

Journal Article
New methods for savings and loans to hedge interest rate risk
Merfeld, Thomas J.; Morris, Charles S. (1988-03)
Increased interest rate volatility in recent years has led to a greater volatility in profits at savings and loan associations. To help stabilize their profits, some S&L's are implementing interest rate hedging programs. These programs use financial instruments such as interest rate swaps, financial futures and options on financial futures. Because hedging programs introduce their own risks, S&L's should thoroughly examine all aspects of the programs before employing them.
Economic Review , Volume 73 , Issue Mar , Pages 3-15

Conference Paper
Perspectives on the role of government risk-bearing
Stiglitz, Joseph E. (1991)
Proceedings

Conference Paper
The impact of deposit insurance on S&L shareholders' risk/return trade- offs
Brewer, Elijah (1990)
Proceedings , Paper 265

Journal Article
The RTC and the escalating costs of the thrift insurance mess
Thomson, James B.; Pike, Christopher J. (1991-05)
An examination of the structure of the Resolution Trust Corporation and of its performance in resolving the savings and loan insurance crisis, defining the obstacles that may be impeding the RTC's effectiveness in closing insolvent thrifts and returning their assets to the private sector.
Economic Commentary , Issue May

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