The president of the Federal Reserve Bank of Richmond addresses the state of banking in a speech delivered to the Maryland Independent Bankers Association.

Events in 1989 resembled those of 1987 in banking, but the differences were significant—and the stakes were higher.

During the last several years, concern has increased that changes in the financial system have made it harder for rural banks to attract enough deposits to meet local credit demands. While urban banks may face some of the same problems, it is widely believed that funding pressures have increased...

Community banks in Tenth District states had another good year in 1998. They continued to benefit from solid growth in the district economy. And in contrast to some large banks in other parts of the country, they were largely unaffected by the turmoil in financial markets in the latter part of...

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