The Origins, History, and Future of the Federal Reserve : A Return to Jekyll Island

Online-Ressource (454 p)

Description based upon print version of record

Contents; Conference Speaker Bios; Introduction; The Significance of the 1910 meeting; The 2010 conference; One "To Establish a More Effective Supervision of Banking": How the Birth of the Fed Altered Bank Supervision; I. The Problems of the National Banking System, 1864-1913; I.A. Origins; I.B. The Reemergence of State Banks; I.C. The Rise of the Trust Companies; I.D. Panics; II. Supervision, 1864-1913; II.A. Disclosure; II.B. Examination and Discipline; II.C. The Operation of the Office of the Comptroller of the Currency; II.D. The Supervision of State Banks

III. Consequences and Costs of Supervision, 1864-1913III.A. The Role of Double Liability; III.B. Voluntary Liquidations and Failures; III.C. The Costs of Bank Failures; III.D. The National Banking System: An Assessment; IV. The Advent of the Fed; IV.A. The Incomplete Reform of Regulation and Supervision; IV.B. Conflict between the Fed and the OCC: Examinations; IV.C. Examination in the Early Fed Years; V. Price Stability Versus Financial Stability; V.A. The Unexpected Deflation Shock; V.B. Seasonal Interest Rate and Discount Policies; V.C. The Growing Cost of Bank Failures

VI. Après Le DelugeComments to "To Establish a More Effective Supervision of Banking": How the Birth of the Fed Altered Bank; I. Supervision and Regulation Under the National Banking System; II. Changes with the Establishment of the Fed; III. Some Thoughts; Example 1: The Suffolk Banking System; Example 2: The State Bank of Indiana; IV. Conclusion; Two The Promise and Performance of the Federal Reserve as Lender of Last Resort 1914-1933; Introduction; Banking Reform; Defects of the National Banking System; Inelastic Currency; Seasonal Stringency; Inverted Pyramid of Reserves

The Reform MovementThe Warburg-Aldrich Plan; The Federal Reserve Act; Lender of Last Resort Provisions of the Federal Reserve Act; The Feds Performance as Lender of Last Resort to 1933; The Great Depression; Fed Policy from the Stock Market Crash to Bank Holiday; Why Did the Fed Fail to Act as Lender of Last Resort During the Depression?; The Discount Window - A Flawed Lender of Last Resort Mechanism; Bankers Acceptance Purchases as an Alternative to the Discount Window; The Feds Decentralized Structure; Conclusion; Appendix; Legislated Changes to the Federal Reserves Lending Authority28

Comments on "The Promise and Performance of the Federal Reserve as a Lender of Last Resort: 1914-33"The Separation of the Money Market from the Capital Market; The Main Flaws of the Federal Reserve System; Reluctance to Borrow; Limited Membership of the Federal Reserve System; Restricted Eligibility of Discount Window Collateral; Collateral Quality Requirements on Currency Backing in the Federal Reserve Act; An Assessment of the Bordo-Wheelock Arguments and the Existing Three Explanations; Summary; What did Ben Bernanke Learn From 1929-33 Federal Reserve Policy Failures?

Three Where It All Began: Lending of Last Resort at the Bank of England Monitoring During the Overend-Gurney Panic of 1866

ECONIS - Online Catalogue of the ZBW