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Retail fees of depository institutions, 1994-99

Author

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  • Timothy H. Hannan

Abstract

Under legislative mandate, the Federal Reserve Board has for many years sponsored annual surveys of the retail fees charged by depository institutions. Analysis of the data for the most recent six years (1994-99) shows that for the most common types of depository accounts surveyed, few of the fees and minimum balances changed by a statistically significant amount. However, the most common types of ATM fees and the fees for certain special actions, such as stop-payment orders, increased significantly and by more than the rate of consumer price inflation over the period. In addition, for almost all of the fees charged for seven common services and special actions, banks that were part of multistate banking organizations on average charged significantly higher fees than single-state banks, and large banks charged significantly more than small banks. Although they narrowed, the differences remained statistically significant after analyses that controlled for the general location of the institutions, for size (in the case of the multistate versus single-state comparison), and for multistate operations (in the case of the large versus small comparison).

Suggested Citation

  • Timothy H. Hannan, 2001. "Retail fees of depository institutions, 1994-99," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), vol. 87(Jan), pages 1-11, January.
    • Handle: RePEc:fip:fedgrb:y:2001:i:jan:p:1-11:n:v.87no.1
    DOI: 10.17016/bulletin.2001.87-1
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    File URL: http://www.federalreserve.gov/pubs/bulletin/2001/0101lead.pdf
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    Citations

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    Cited by:

    1. Tennant, David & Sutherland, Richard, 2014. "What types of banks profit most from fees charged? A cross-country examination of bank-specific and country-level determinants," Journal of Banking & Finance, Elsevier, vol. 49(C), pages 178-190.
    2. Richard J. Sullivan, 2013. "The impact of debit card regulation on checking account fees," Economic Review, Federal Reserve Bank of Kansas City, issue Q IV, pages 59-93.
    3. Hirtle, Beverly, 2007. "The impact of network size on bank branch performance," Journal of Banking & Finance, Elsevier, vol. 31(12), pages 3782-3805, December.
    4. Astrid A. Dick, 2007. "Market Size, Service Quality, and Competition in Banking," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 39(1), pages 49-81, February.

    More about this item

    Keywords

    Banks and banking - Service charges;

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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