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Banking consolidation and correspondent banking

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  • William P. Osterberg
  • James B. Thomson

Abstract

Banking consolidation, spurred by interstate branching deregulation, is changing markets' competitive structure. Policymakers and regulators have focused on the implications for customers in retail and wholesale markets rather than consolidation's impact on correspondent banking markets (where banks buy and sell inputs used to produce banking services). By studying the era of intrastate branching deregulation, the authors provide some insights on the implications of interstate branching for correspondent banking.

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File URL: http://www.clevelandfed.org/Research/review/1999/99-q1-osterberg.pdf
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Bibliographic Info

Article provided by Federal Reserve Bank of Cleveland in its journal Economic Review.

Volume (Year): (1999)
Issue (Month): Q I ()
Pages: 9-20

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Handle: RePEc:fip:fedcer:y:1999:i:qi:p:9-20

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Keywords: Bank competition ; Bank mergers ; Interstate banking;

References

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  1. Gilbert, R Alton, 1983. "Economies of Scale in Correspondent Banking," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 15(4), pages 483-88, November.
  2. Bauer, Paul W & Ferrier, Gary D, 1996. "Scale Economies, Cost Efficiencies, and Technological Change in Federal Reserve Payments Processing," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 28(4), pages 1004-39, November.
  3. Walker F. Todd & James B. Thomson, 1990. "An insider's view of the political economy of the too big to fail doctrine," Working Paper 9017, Federal Reserve Bank of Cleveland.
  4. Edward J. Kane, 1981. "Changes in the Provision of Correspondent-Banking Services and the Role of Federal Reserve Banks under the DIDMC Act," NBER Working Papers 0731, National Bureau of Economic Research, Inc.
  5. Bruce J. Summers & John P. Segala, 1979. "Determinants of correspondent banking relationships with the Federal Reserve System," Working Paper 79-01, Federal Reserve Bank of Richmond.
  6. Flannery, Mark J., 1983. "Correspondent services and cost economies in commercial banking," Journal of Banking & Finance, Elsevier, vol. 7(1), pages 83-99, March.
  7. Auerbach, Robert, 1982. "Changes in the provision of correspondent- banking services and the role of federal reserve banks under the DIDMC Act : A comment on Kane," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 16(1), pages 127-136, January.
  8. R. Preston McAfee, 1999. "The effects of vertical integration on competing input suppliers," Economic Review, Federal Reserve Bank of Cleveland, issue Q I, pages 2-8.
  9. James B. Thomson, 1987. "Interbank exposure in the Fourth Federal Reserve District," Economic Commentary, Federal Reserve Bank of Cleveland, issue Aug.
  10. George Baker & Robert Gibbons & Kevin J. Murphy, 1997. "Implicit Contracts and the Theory of the Firm," NBER Working Papers 6177, National Bureau of Economic Research, Inc.
  11. Lawrence, Robert J & Lougee, Duane, 1970. "Determinants of Correspondent Banking Relationships," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 2(3), pages 358-69, August.
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Citations

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Cited by:
  1. Ben R. Craig & James B. Thomson, 2001. "Federal Home Loan Bank lending to community banks: are targeted subsidies necessary?," Working Paper 0112, Federal Reserve Bank of Cleveland.
  2. Brickley, James A. & Linck, James S. & Smith, Clifford W., 2012. "Vertical integration to avoid contracting with potential competitors: Evidence from bankers' banks," Journal of Financial Economics, Elsevier, vol. 105(1), pages 113-130.
  3. Ben Craig & James Thomson, 2003. "Federal Home Loan Bank Lending to Community Banks: Are Targeted Subsidies Desirable?," Journal of Financial Services Research, Springer, vol. 23(1), pages 5-28, February.

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