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On the welfare properties of fractional reserve banking

Sanches, Daniel - Federal Reserve Bank of Philadelphia - 2013

difficulties associated with fractional reserve banking, such as the risk of insolvency for each bank. The goal of this paper is to … show that a specific form of private bank coalition (a joint-liability arrangement) allows the members of the banking … system to engage in fractional reserve banking in such a way that the solvency of each member bank is completely guaranteed …

Persistent link: https://www.econbiz.de/10011262941

Collateral damage: Sizing and assessing the subprime CDO crisis

Cordell, Larry; Huang, Yilin; Williams, Meredith - Federal Reserve Bank of Philadelphia - 2011

This paper conducts an in-depth analysis of structured finance asset-backed securities collateralized debt obligations (SF ABS CDOs), the subset of CDOs that traded on the ABS CDO desks at the major investment banks and were a major contributor to the global financial panic of August 2007....

Persistent link: https://www.econbiz.de/10009216225

Who said large banks don't experience scale economies? Evidence from a risk-return-driven cost function

Hughes, Joseph P.; Mester, Loretta J. - Federal Reserve Bank of Philadelphia - 2011

Earlier studies found little evidence of scale economies at large banks; later studies using data from the 1990s uncovered such evidence, providing a rationale for very large banks seen worldwide. Using more recent data, the authors estimate scale economies using two production models. The...

Persistent link: https://www.econbiz.de/10009216228

Large capital infusions, investor reactions, and the return and risk performance of financial institutions over the business cycle and recent finanical crisis

Elyasiani, Elyas; Mester, Loretta J.; Pagano, Michael S. - Federal Reserve Bank of Philadelphia - 2011

The authors examine investors' reactions to announcements of large seasoned equity offerings (SEOs) by U.S. financial institutions (FIs) from 2000 to 2009. These offerings include market infusions as well as injections of government capital under the Troubled Asset Relief Program (TARP). The...

Persistent link: https://www.econbiz.de/10009320870

Private liquidity and banking regulation

Monnet, Cyril; Sanches, Daniel R. - Federal Reserve Bank of Philadelphia - 2012

The authors show that the regulation of bank lending practices is necessary for the optimal provision of private … value of the banking sector’s assets (e.g., by limiting competition in bank lending) will mitigate the commitment problem …. If the value of the bank charter is made sufficiently large, then it is possible to implement an efficient allocation …

Persistent link: https://www.econbiz.de/10010551331

A primer on market discipline and governance of financial institutions for those in a state of shocked disbelief

Hughes, Joseph P.; Mester, Loretta J. - Federal Reserve Bank of Philadelphia - 2012

-taking that undermines bank stability in economic downturns? This paper reviews the literature on corporate control in banking. It … reviews the techniques for assessing bank performance, interaction between regulation and the federal safety net with market …

Persistent link: https://www.econbiz.de/10010552111

Welcoming remarks : financial interdependence in the world's post-crisis capital markets : a speech for the 2010 Global Conference Series (Part III), March 3, 2010.

Plosser, Charles I. - Federal Reserve Bank of Philadelphia - 2010

the Philadelphia Council for Business Economics, the CFA Society of Philadelphia, and the Federal Reserve Bank of …Presented by Charles I. Plosser, President and Chief Executive Officer, Federal Reserve Bank of Philadelphia> Financial …

Persistent link: https://www.econbiz.de/10010727100

Output gaps and robust policy rules : a speech at the 2010 European Banking & Financial Forum, Czech National Bank, Prague, The Czech Republic, March 23, 2010

Plosser, Charles I. - Federal Reserve Bank of Philadelphia - 2010

Presented by Charles I. Plosser, President and Chief Executive Officer, Federal Reserve Bank of Philadelphia> 2010 … European Banking & Financial Forum, Czech National Bank, Prague, The Czech Republic, March 23, 2010 …

Persistent link: https://www.econbiz.de/10010727101

Improving financial stability: a speech at the University of Chicago Booth School of Business, March 31, 2009

Plosser, Charles I. - Federal Reserve Bank of Philadelphia - 2009

Presented by Charles I. Plosser, President and Chief Executive Officer, Federal Reserve Bank of Philadelphia …

Persistent link: https://www.econbiz.de/10010727104

Importance of financial econometrics for financial innovation and financial stability: a speech for the Inaugural Conference of the Society for Financial Econometrics, New York Uni...

Plosser, Charles I. - Federal Reserve Bank of Philadelphia - 2008

Presented by Charles I. Plosser, President and Chief Executive Officer, Federal Reserve Bank of Philadelphia, for the …

Persistent link: https://www.econbiz.de/10010727108