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The Effects of Interest-Bearing Required Reserves on Bank Portfolio Riskiness

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  • Mitchell, Douglas W.

Abstract

This paper uses the portfolio theory approach to bank behavior theory in order to examine the effects of two Fed policy variables on bank portfolio riskiness. The policy variables are (1) the level of the reserve requirement against NOW accounts, and (2) the rate of interest paid by the Fed on bank reserves. This second policy variable is currently zero-valued in nominal terms, but in recent years there has been some discussion of raising it, especially now that interest is paid by banks on checkable accounts. (For an early discussion see Tobin [8].)

Suggested Citation

  • Mitchell, Douglas W., 1982. "The Effects of Interest-Bearing Required Reserves on Bank Portfolio Riskiness," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 17(2), pages 209-216, June.
    • Handle: RePEc:cup:jfinqa:v:17:y:1982:i:02:p:209-216_01
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    Cited by:

    1. Delis, Manthos D. & Hasan, Iftekhar & Tsionas, Efthymios G., 2014. "The risk of financial intermediaries," Journal of Banking & Finance, Elsevier, vol. 44(C), pages 1-12.
    2. Delis, Manthos D. & Hasan, Iftekhar & Tsionas, Efthymios G., 2014. "The risk of financial intermediaries," Bank of Finland Research Discussion Papers 18/2014, Bank of Finland.
    3. repec:zbw:bofrdp:2014_018 is not listed on IDEAS

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