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Fairly Priced Deposit Insurance and Bank Charter Policy

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Author Info
Roger Craine.
Abstract

The thrust of current deposit insurance reform--risk-based insurance premiums and capital requirements--is an effort to price deposit insurance more fairly. Fairly pricing deposit insurance eliminates inequitable wealth transfers, but it does not lead to an efficient equilibrium. This paper shows that an alternative charter policy results in an efficient separating equilibrium. The analysis provides support for the deposit insurance reform proposal in the recent NCFIRRE (1993) report to the President and Congress, and for Merton and Bodie's (1993) proposal.

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Publisher Info
Paper provided by University of California at Berkeley in its series Economics Working Papers with number 95-234.

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Date of creation: 01 May 1995
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Handle: RePEc:ucb:calbwp:95-234

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  1. Hyytinen, Ari & Takalo, Tuomas, 2003. "Preventing systemic crises through bank transparency," Research Discussion Papers 25/2003, Bank of Finland. [Downloadable!]
    Other versions:
  2. David Bates & Roger Craine, 1998. "Valuing the Futures Market Clearinghouse's Default Exposure During the 1987 Crash," NBER Working Papers 6505, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  3. Laeven, Luc, 2002. "Pricing of deposit insurance," Policy Research Working Paper Series 2871, The World Bank. [Downloadable!]
  4. Biagio Bossone, 2002. "Should Banks Be Narrowed?," Economics Working Paper Archive 354, Levy Economics Institute, The. [Downloadable!]
  5. Paul H. Kupiec & James M. O'Brien, 1997. "Deposit insurance, bank incentives, and the design of regulatory policy," Finance and Economics Discussion Series 1998-10, Board of Governors of the Federal Reserve System (U.S.). [Downloadable!]
  6. Fohlin, Caroline, 1998. "Historical and Theoretical Debates Over Financial Systems and Industrialization," Working Papers 1028, California Institute of Technology, Division of the Humanities and Social Sciences. [Downloadable!]
  7. Paul H. Kupiec & James M. O'Brien, 1998. "Deposit insurance, bank incentives, and the design of regulatory policy," Economic Policy Review, Federal Reserve Bank of New York, issue Oct, pages 201-211. [Downloadable!]
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