This article provides evidence consistent with recent policy proposals calling for a greater role for market forces in promoting a safe and sound financial system. The authors' empirical results indicate a measure of expected default probability distilled from equity prices helps predict the...

Remarks before the Comptroller of the Currency Conference on "Foreign Banks in the United States: Economic, Supervisory, and Regulatory Issues," Washington, D.C., July 13, 1995.

In recent years, the traditional business of banks--making long-term loans and funding them by issuing short--dated deposits-has declined. This development has raised concerns that more banks will fail or be forced to assume greater risk to remain profitable. This article first examines the...

Presented by Eric S. Rosengren, President and Chief Executive Officer, Federal Reserve Bank of Boston, for the Bank of Korea and Bank for International Settlements Seminar, Household Debt: Implications for Monetary Policy and Financial Stability, Seoul, Korea, March 27, 2008

How to best manage the failure of systemically important financial firms was the theme of a recent conference at which the latest research on the issue was presented. Here we summarize that research, the discussions that it sparked, and the areas where considerable work remains.

Remarks at the Committee on International Monetary Law of the International Law Association Meeting, Madrid, Spain.