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Using money market rates to assess the alternatives of fixed vs. variable rate tenders: the lesson from 1989-1998 data for Germany

Manna, Michele - 2002

This paper uses the variability of money market rates to compare the conduct of the central bank's key market operation as a fixed-rate tender (FRT) or a variable-rate tender (VRT). Nowadays, leading central banks generally use FRTs or other approaches (e.g. target rates) which yield step...

Persistent link: https://www.econbiz.de/10011604232

Too Big to Fail? The Newfoundland Bank Crash of 1894

Chu, Kam Hon - In: Kredit und Kapital 41 (2008) 2, pp. 161-195

duopolistic loan market both went under simultaneously. The banking system was "free", as central bank, deposit insurance, and … duopolistic bank loan market and to provide lessons for banking regulation and policies, the too-big-to-fail doctrine in … that year triggered a regime change into simultaneous loan expansion that ultimately precipitated a systemic banking …

Persistent link: https://www.econbiz.de/10014523529

Financial intermediation cost, rents, and productivity: An international comparison

Bazot, Guillaume - 2018

Calculation of the unit cost of financial intermediation for 20 countries from 1970 to 2015 has produced the following results. (i) Most countries' unit costs decline and converge in the long run. (ii) Unit costs were much higher in the 1970s and 1980s, coinciding with high nominal rates, as...

Persistent link: https://www.econbiz.de/10012669490

The efficiency of the London Gold Fixing: From Gold Standard to hoarded commodity (1919-68)

O'Connor, Fergal A.; Lucey, Brian M. - 2023

This paper presents and explains the newly rediscovered and transcribed daily market gold price from 1919-1968 for the world's main gold market during the period, the London Gold Fixing Auction. The paper highlights several novel features previously not discussed in the literature, such as gold...

Persistent link: https://www.econbiz.de/10014431738

Delegated Monitors, Large and Small: The Development of Germany's Banking System, 1800-1914

Guinnane, Timothy W. - 2001

their supposed role in corporate governance and industrial finance. Many discussions distort the German Banking system by … banks and other banking groups. Tracing the historical development of the German banking system from the early nineteenth …

Persistent link: https://www.econbiz.de/10010369134

Trust: A Concept Too Many

Guinnane, Timothy W. - 2005

Research on 'trust' now forms a prominent part of the research agenda in history and the social sciences. Although this research has generated useful insights, the idea of trust has been used so widely and loosely that it risks creating more confusion than clarity. This essay argues that to the...

Persistent link: https://www.econbiz.de/10010369194

Bank supervision Russian style: Evidence of conflicts between micor- and macroprudential concerns

Claeys, Sophie; Schoors, Koen - 2007

Supervisors sometimes have to manage both the micro- and macro- prudential dimensions of bank stability. These may either conflict or complement each other. We analyze prudential supervision by the Central Bank of Russia (CBR). We find evidence of micro-prudential concerns, measured as the...

Persistent link: https://www.econbiz.de/10010320741

Too big to fail after all these years

Morgan, Donald P.; Stiroh, Kevin J. - 2005

The naming of eleven banks as “too big to fail (TBTF)” in 1984 led bond raters to raise their ratings on new bond issues of TBTF banks about a notch relative to those of other, unnamed banks. The relationship between bond spreads and ratings for the TBTF banks tended to flatten after that...

Persistent link: https://www.econbiz.de/10010283484

Repurchase agreements as an instrument of monetary policy at the time of the accord

Garbade, Kenneth D. - 2016

Following the Treasury-Federal Reserve Accord of March 3, 1951, the Federal Open Market Committee (FOMC) focused on free reserves - the difference between excess reserves (reserve deposits in excess of reserve requirements) and borrowed reserves - as the touchstone of U.S. monetary policy....

Persistent link: https://www.econbiz.de/10011538010

Bank supervision Russian style: rules versus enforcement and tacit objectives

Claeys, Sophie; Lanine, Gleb; Schoors, Koen - 2005

We focus on the con.ict between two central bank objectives individual bank stability and systemic stability.We study the licensing policy of the Central Bank of Russia (CBR) during 1999.2002.Banks in poorly banked regions, banks that are too big to be disciplined adequately, and banks that are...

Persistent link: https://www.econbiz.de/10012148493