arbitrage. Mortgage banking subsidiaries of Bank Holding Companies (BHCs) became increasingly active players in the mortgage … origination market over the past decade. At the time, the Federal Reserve Bank (FRB) had supervisory power over this group of …

In August 2007 the United Kingdom experienced its first bank run in over 140 years. Although Northern Rock was not a … particularly large bank (it was at the time ranked 7th in terms of assets) it was nevertheless a significant retail bank and a … outside the bank as depositors rushed to withdraw their deposits. There was always a fear that this could spark a systemic run …