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Working Paper
Benefits of relationship banking: evidence from consumer credit markets
Agarwal, Sumit; Chomsisengphet, Souphala; Liu, Chunlin; Souleles, Nicholas S. (2010)
This paper empirically examines the benefits of relationship banking to banks, in the context of consumer credit markets. Using a unique panel dataset that contains comprehensive information about the relationships between a large bank and its credit card customers, we estimate the effects of relationship banking on the customers' default, attrition, and utilization behavior. We find that relationship accounts exhibit lower probabilities of default and attrition, and have higher utilization rates, compared to non-relationship accounts, ceteris paribus. Such effects become more pronounced with ...
Working Paper Series , Paper WP-2010-05

Working Paper
What is the value of recourse to asset backed securities? A clinical study of credit card banks
Higgins, Eric J.; Mason, Joseph R. (2003)
The present paper uses data from revolving credit card securitizations to show that, conditional on being in a position where implicit recourse has become necessary and actually providing that recourse, recourse to securitized debt may benefit short- and long-term stock returns, and long-term operating performance of sponsors. The paper suggests that this result may come about because those sponsors providing the recourse do not seem to be extreme default or insolvency risks. However, sponsors providing recourse do experience an abnormal delay in their normal issuance cycle around the event. ...
Working Papers , Paper 03-6

Journal Article
Reforms to protect American credit card holders
anonymous (2009)
Community Investments , Volume 21 , Issue Sum

Conference Paper
Remarks on interchange fees : central bank perspectives and options
Ortiz, Guillermo (2005)
Proceedings – Payments System Research Conferences , Issue May , Pages 289-307

Working Paper
Forecasting credit card portfolio losses in the Great Recession: a study in model risk
Canals-Cerda, Jose J.; Kerr, Sougata (2014-03-31)
Credit card portfolios represent a significant component of the balance sheets of the largest US banks. The charge?off rate in this asset class increased drastically during the Great Recession. The recent economic downturn offers a unique opportunity to analyze the performance of credit risk models applied to credit card portfolios under conditions of economic stress. Specifically, we evaluate three potential sources of model risk: model specification, sample selection, and stress scenario selection. Our analysis indicates that model specifications that incorporate interactions between policy ...
Working Papers , Paper 14-10

Journal Article
Statement to Congress, March 18, 1987 (interest rates on credit cards and disclosure of terms)
Seger, Martha R. (1987-05)
Federal Reserve Bulletin , Issue May

Journal Article
Credit cards: use and consumer attitudes, 1970-2000
Durkin, Thomas A. (2000-09)
From modest origins in the 1950s as a convenient way for the relatively well-to-do to settle restaurant and department store purchases without carrying cash, credit cards have become a ubiquitous financial product held by households in all economic strata. Since the late 1960s, much federal legislation has been enacted to ensure that consumers have the protections and information they need to use this widely available form of open-end credit wisely. Nevertheless, concerns persist about whether consumers fully understand the costs and implications of using credit cards and whether credit cards ...
Federal Reserve Bulletin , Volume 86 , Issue Sep

Briefing
Fees, fraud and regulation: force of change in the payment card industry
Sullivan, Richard J.; Hayashi, Fumiko (2013)
This article summarizes analysis from three recent Economic Review articles on how changes to card payment technology and debit card regulation will affect the U.S. retail payments system in years to come.
Payments System Research Briefing , Issue Apr

Journal Article
Interchange fees in credit and debit card markets : what role for public authorities
Sullivan, Richard J.; Pacheco, Barbara (2006)
Credit and especially debit card transactions are on the rise worldwide. Interchange fees are an integral part of the pricing structure of credit and debit card transactions. Indirectly paid by merchants to card issuers, interchange fees in most countries are set by credit and debit card networks. But in one country, Australia, the central bank is regulating interchange fees, and in several other countries and areas, including the European Union, Mexico, the Netherlands, Spain, and the United Kingdom, public officials are taking, or considering taking, a more hands-on regulatory stance. In ...
Economic Review , Volume 91 , Issue Q I , Pages 87-113

Conference Paper
International comparisons: lessons learned
Humphrey, David B.; Fox, Gerald R.; Palva, Marianne; Van Hove, Leo (2000)
Proceedings , Paper 747

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