The 2020 Federal Deposit Insurance Corporation reopening of deposit insurance to industrial loan companies (“ILCs”) threatens to:¶ create risks to financial stability;¶ distort competition in commercial markets;¶ distort competition in banking markets and promote greater risk-taking;¶...

By liquidity services, we mean in this paper the whole set of key activities which permit that the final holders of financial claims may switch to cash when needed while nevertheless providing stable long term financing to companies and households. Secondary securities markets, financial...