An important financial innovation of the 1980s was the emergence of original-issue junk bonds, securities of below investment grade with high initial yields to maturity. Prior to the 1980s, firms that did not qualify as investment-grade borrowers relied almost exclusively on short-term bank...

Despite steady growth in the United States economy over the past eight years, several regions of the country have suffered severe economic slumps. Oil-producing and agricultural states in particular have experienced economic conditions that usually occur only during national recessions. Lack of...

Remarks by Eric S. Rosengren, President and Chief Executive Officer, Federal Reserve Bank of Boston, to the Lake Champlain Regional Chamber of Commerce, Burlington, Vermont, October 2, 2013.

Remarks by Eric S. Rosengren, President and Chief Executive Officer, Federal Reserve Bank of Boston, at the Conference on Stable Funding, New York, New York, September 27, 2013.

Remarks by Eric S. Rosengren, President and Chief Executive Officer, Federal Reserve Bank of Boston, at The Council on Foreign Relations, New York, New York, October 11, 2013.

Remarks by Eric S. Rosengren, President and Chief Executive Officer, Federal Reserve Bank of Boston, at the Bank for International Settlements Forum on Key Regulatory and Supervisory Issues in a Basel III World, Bank of Korea, Seoul, Korea, February 25, 2013.

Remarks by Eric S. Rosengren, President and Chief Executive Officer, Federal Reserve Bank of Boston, at the U. S. Monetary Policy Forum, New York, New York, February 22, 2013.

Remarks by Eric S. Rosengren, President and Chief Executive Officer, Federal Reserve Bank of Boston, to the Business and Industry Association of New Hampshire and the New Hampshire Bankers Association, Saint Anselm College, Manchester, New Hampshire, March 27, 2013.

Over the past two decades the United States has experienced substantial increases in the number of bank failures, however, surprisingly few banks have failed during the 2001 recession. This paper explores the relationship between economic cycles and bank health. We find that economic forecasts...