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How large has the federal financial safety net become?

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Author Info

  • Nadezhda Malysheva
  • John R. Walter

Abstract

Legislative and regulatory actions taken in response to the financial turmoil which occurred between 2007 and 2009 expanded the extent to which financial institution liabilities were protected by federal government guarantees: i.e., these actions expanded the federal financial safety net. How large has the safety net become? Walter and Weinberg (2002) measured and examined the size of the safety net as it stood in 1999. We estimate the size of the safety net as of the end of 2008, after the creation of a number of government programs meant to back financial liabilities. We use methods similar to those employed by Walter and Weinberg and find that the safety net has expanded significantly. We briefly describe our results and provide a table detailing them. ; This paper builds on a Winter 2002 Cato Journal article.

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Bibliographic Info

Paper provided by Federal Reserve Bank of Richmond in its series Working Paper with number 10-03.

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Date of creation: 2010
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Handle: RePEc:fip:fedrwp:10-03

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Related research

Keywords: Deposit insurance;

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Cited by:
  1. Robert L. Hetzel, 2009. "Should increased regulation of bank risk-taking come from regulators or from the market?," Economic Quarterly, Federal Reserve Bank of Richmond, issue Spr, pages 161-200.
  2. Matthew Richardson, 2012. "Regulating Wall Street: the Dodd–Frank Act," Economic Perspectives, Federal Reserve Bank of Chicago, issue Q III, pages 85-97.
  3. John R. Walter, 2003. "Banking and commerce : tear down this wall?," Economic Quarterly, Federal Reserve Bank of Richmond, issue Spr, pages 7-31.
  4. Kartik B. Athreya & Xuan S. Tam & Eric R. Young, 2009. "Are harsh penalties for default really better?," Working Paper 09-11, Federal Reserve Bank of Richmond.

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