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This paper considers developments which have necessitated greater involvement and a greater role for the central bank … legislation such as the Banking Act of 2009 which has not only introduced greater statutory powers for the central bank, but also … the Special Resolution Regime. As well as a consideration of arguments which are in favour of the central bank’s role as …
Persistent link: https://www.econbiz.de/10009323454
This paper analyses bank exit (ie reorganisation and liquidation) legislation in selected financial centres: New York …, London, Frankfurt, Helsinki and Tokyo. The focus is on bank exit legislation applicable to commercial banks. The legislation … is analysed from the perspective of bank stakeholders, ie bank creditors, depositors and bank shareholders. The analysis …
Persistent link: https://www.econbiz.de/10005134685
This paper evaluates bank exit regimes in selected financial centres using econometric methods. The focus is on bank … exit regimes applicable to commercial banks in New York, London, Frankfurt, Helsinki and Tokyo in 1998–2002. Bank exit … regimes are studied from the perspective of bank creditors and bank shareholders. In order to apply econometric methods, the …
Persistent link: https://www.econbiz.de/10005134896
We present a model of cash constrained entrepreneurs who need an investor to finance their project. Investors can either be uninformed, such as individual bondholders, or informed, such as venture capitalists and banks. There is an entrepreneurial moral hazard problem, which can be partially...
Persistent link: https://www.econbiz.de/10010661398
Is political unity a necessary condition for a successful monetary union? The early United States seems a leading example of this principle. But the view is misleadingly simple. I review the historical record and uncover signs that the United States did not achieve a stable monetary union, at...
Persistent link: https://www.econbiz.de/10010875559
From 1863-1914, banks in the U.S. could issue notes subject to full collateral, a per-period tax on outstanding notes, redemption of notes on demand, and a clearing fee per issued note cleared through the Treasury. The system failed to satisfy a purported arbitrage condition; i.e., the yield on...
Persistent link: https://www.econbiz.de/10005342293
Persistent link: https://www.econbiz.de/10008596058
bank failures during the early 1930s and their dire monetary and real impacts. Recent research in macroeconomics though has … evidence at the national and regional levels. Our results show that controlling for the overall contraction and bank failures …
Persistent link: https://www.econbiz.de/10010643038
An 1890s loan book of the Bank A. Levy permits a detailed examination of the lending operations of a private bank in … there are few microeconomic studies of banks. This unregulated bank was well integrated into national money markets and lent … to a broad cross section of the community. Although the bank appeared to adhere to the real bills doctrine, it provided …
Persistent link: https://www.econbiz.de/10005800327
From 1863-1914, banks in the U.S. could issue notes subject to full collateral, a per-period tax on outstanding notes, redemption of notes on demand, and a clearing fee per issued note cleared through the Treasury. The system failed to satisfy a purported arbitrage condition; i.e., the yield on...
Persistent link: https://www.econbiz.de/10005130205