In the last thirty years the U.S. commercial banking industry has experienced significant changes. Characterizing this transformation are long-run trends of the structure, balance sheet, and income statement of the industry. A review of these trends reveals that banks are still very important...

Important changes in U.S. banking regulation that took place during the nineties have inspired concern about the long-run size distribution of banks. The asset-size distribution of commercial banks is skewed to the right, and there has been a pronounced increase in asset concentration in the...

In this paper we study dollarization as a commitment device that the Central Bank could use to avoid getting involved in an undesirable banking-sector bailout. We show how a political process could induce an equilibrium outcome that differs from the one that a benevolent Central Bank would want...

Large banking organizations were at the center of the recent financial crisis in the United States. Their role in the economy and how to regulate them has been the subject of active debate. We study the financial performance of U.S. bank holding companies with more than $10 billion in assets...

Federal Reserve Banks distribute currency to — and accept deposits from — depository institutions. Currency that the Federal Reserve distributes is either newly printed by the Bureau of Engraving and Printing, or previously deposited by banks. Currency that banks deposit with the Fed is...