actions by bank owners to change management, contract with depositors to extend liability maturity structure, write off bad … assets, and/or inject capital affected bank survival and deposit retention. This historical episode is particularly …

It is often argued that branching stabilizes banking systems by facilitating diversification of bank portfolios … quantitatively more important than geographical diversification for bank stability in the 1920s and 1930s …

quality of bank assets and management. All three types of information were useful for gauging the condition of the bank, and … affected bank behavior, including a publicly observable signal (skipping a dividend payment). Participants in the market for … bank liabilities reacted to this signal in ways that promoted market discipline …