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Safeguarding the banking system in an environment of financial cycles: an overview

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  • Richard E. Randall

Abstract

Various proposals to enhance the safety and soundness of the banking system have been debated in recent years. But the debate has generally focused on limiting losses to the deposit insurance funds in order to protect taxpayers, rather than on the broader implications for the banking system and its role in financial markets and the economy. Furthermore, proposals have generally not been considered in the context of financial cycles, where changing economic circumstances may reveal risk exposures and the potential for widespread losses in important segments of the banking industry. ; In the fall of 1993, the Federal Reserve Bank of Boston sponsored a symposium to consider various proposals to safeguard the banking system in the context of finandal cycles. These proposals included one for timely super~dsory intervention against excessive risk concentrations in banks, one for obtah~ng market discipline from acquirers of subordinated debt, another calling for coinsurance of deposits, and another for functional reorganization of banks to expose all but transaction accounts to market discipline. This article offers an overview of the papers that were presented and the discussion among the participants.

Suggested Citation

  • Richard E. Randall, 1994. "Safeguarding the banking system in an environment of financial cycles: an overview," New England Economic Review, Federal Reserve Bank of Boston, issue Mar, pages 3-14.
  • Handle: RePEc:fip:fedbne:y:1994:i:mar:p:3-14
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    File URL: http://www.bostonfed.org/economic/neer/neer1994/neer294a.pdf
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    References listed on IDEAS

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    1. Helms, L Jay, 1985. "The Effect of State and Local Taxes on Economic Growth: A Time Series-Cross Section Approach," The Review of Economics and Statistics, MIT Press, vol. 67(4), pages 574-582, November.
    2. Charney, Alberta H., 1983. "Intraurban manufacturing location decisions and local tax differentials," Journal of Urban Economics, Elsevier, vol. 14(2), pages 184-205, September.
    3. Timothy J. Bartik, 1991. "Who Benefits from State and Local Economic Development Policies?," Books from Upjohn Press, W.E. Upjohn Institute for Employment Research, number wbsle, November.
    4. Karl E. Case & Leah Cook, 1989. "The distributional effects of housing price booms: winners and losers in Boston, 1980-88," New England Economic Review, Federal Reserve Bank of Boston, issue May, pages 3-12.
    5. Grubb, W. Norton, 1982. "The flight to the suburbs of population and employment, 1960-1970," Journal of Urban Economics, Elsevier, vol. 11(3), pages 348-367, May.
    6. Albert M. Church, 1981. "The Effects of Local Government Expenditure and Property Taxes on Investment," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 9(2), pages 165-180.
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    Cited by:

    1. John A. Weinberg, 1995. "Cycles in lending standards?," Economic Quarterly, Federal Reserve Bank of Richmond, issue Sum, pages 1-18.

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    Keywords

    Bank supervision;

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