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Diversification in banking: is noninterest income the answer?

The U.S. banking industry is steadily increasing its reliance on nontraditional business activities that generate fee income, trading revenue, and other types of noninterest income. This paper assesses potential diversification benefits from this shift. At the aggregate level, declining volatility of net operating revenue reflects reduced volatility of net interest income, rather than diversification benefits from noninterest income, which is quite volatile and has become more correlated with net interest income. At the bank level, growth rates of net interest income and noninterest income ...
Staff Reports , Paper 154

A note on bank lending in times of large bank reserves

The amount of reserves held by the U.S. banking system reached $1.5 trillion in April 2011. Some economists argue that such a large quantity of bank reserves could lead to overly expansive bank lending as the economy recovers, regardless of the Federal Reserve?s interest rate policy. In contrast, we show that the size of bank reserves has no effect on bank lending in a frictionless model of the current banking system, in which interest is paid on reserves and there are no binding reserve requirements. We also examine the potential for balance-sheet cost frictions to distort banks? lending ...
Staff Reports , Paper 497

Journal Article
Bankers on pricing consumer deposits

Quarterly Review , Volume 11 , Issue Win

Journal Article
The pricing and hedging of market index deposits

Quarterly Review , Volume 12 , Issue Sum

Commercial bank capacity to pay interest on demand deposits: evidence from large weekly reporting banks

Staff Memoranda , Paper 88-8

Working Paper
What goes up must come down? Asymmetries and persistence in bank deposit interest rates

Finance and Economics Discussion Series , Paper 93-36

Working Paper
Floating ceilings on deposit interest rates

Finance and Economics Discussion Series , Paper 186

Working Paper
Deposit pricing, bank market structure, and welfare with cost- minimizing consumers

Finance and Economics Discussion Series , Paper 48

Working Paper
The impact of paying interest on reserves in the presence of government deficit financing

This paper re-examines the impact that paying interest on reserves has on price level indeterminacy, price level volatility, and overall economic well-being. Unlike previous papers which examined these issues, the model developed in this paper allows the return on reserves to equal the return on government securities, which is less than the prevailing return on storage. Equally important, this model also considers how deficit financing changes the impact that paying interest on reserves has on the economy. I show that the number of steady state equilibria are equal to, or greater than, the ...
Working Papers , Paper 0406


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