Insurance guarantee schemes aim to protect policyholders from the costs of insurer insolvencies. However, guarantee schemes can also reduce insurers' incentives to conduct appropriate risk management. We investigate stock insurers' risk-shifting behavior for insurance guarantee schemes under the...

General purpose reloadable prepaid cards are part of a larger trend toward a cashless society. This market offers significant benefits to both traditional depository institutions and new non-bank entrants in the payments industry. Electronic transfers significantly reduce the costs associated...

In this note, a new concept for a European deposit guarantee scheme is proposed, which takes account of the strong political reservations against a mutualization of the liability for bank deposits. The three-stage model for deposit insurance outlined in the text builds on existing national...