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Depositor preference and the cost of capital for insured depository institutions

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Author Info
William P. Osterberg
James B. Thomson

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Abstract

An analysis of the impact of depositor preference laws on the cost of debt capital for banks and on the value of FDIC deposit guarantees. The authors find that depositor preference laws increase the value of uninsured deposit claims and reduce the size of the FDIC subsidy, but will not affect the total value of banks and thrifts unless deposit insurance is mispriced.

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File URL: http://www.clevelandfed.org/Research/Workpaper/1994/wp9404.pdf
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Publisher Info
Paper provided by Federal Reserve Bank of Cleveland in its series Working Paper with number 9404.

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Date of creation: 1994
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Handle: RePEc:fip:fedcwp:9404

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Keywords: Bank failures ; Bank capital;

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References listed on IDEAS
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  1. Osterberg, William P. & Thomson, James B., 1991. "The effect of subordinated debt and surety bonds on the cost of capital for banks and the value of federal deposit insurance," Journal of Banking & Finance, Elsevier, vol. 15(4-5), pages 939-953, September. [Downloadable!] (restricted)
  2. Ramon P. DeGennaro & James B. Thomson, 1992. "Capital forbearance and thrifts: an ex post examination of regulatory gambling," Working Paper 9209, Federal Reserve Bank of Cleveland. [Downloadable!]
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  3. Chen, Andrew H, 1978. "Recent Developments in the Cost of Debt Capital," Journal of Finance, American Finance Association, vol. 33(3), pages 863-77, June. [Downloadable!] (restricted)
  4. Thomson, James B, 1987. "The Use of Market Information in Pricing Deposit Insurance," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 19(4), pages 528-37, November. [Downloadable!] (restricted)
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  5. William P. Osterberg & James B. Thomson, 1987. "Deposit insurance and the cost of capital," Working Paper 8714, Federal Reserve Bank of Cleveland. [Downloadable!]
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(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. William P. Osterberg & James B. Thomson, 1997. "Depositor preference legislation and failed banks' resolution costs," Working Paper 9715, Federal Reserve Bank of Cleveland. [Downloadable!]
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