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Banking market definition: evidence from the Survey of Consumer Finances

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  • Dean F. Amel
  • Arthur B. Kennickell
  • Kevin B. Moore

Abstract

This paper uses data from the triennial waves of the Survey of Consumer Finances from 1992 to 2004 to examine changes in the use of financial services with implications for the definition of banking markets. Despite powerful technological and regulatory shifts over this period, households' banking markets overall remained largely local--the median distance to a provider of financial services remained under four miles. However, there has been rapid growth in the use of non-depository financial institutions over the period, particularly non-local ones. This increase occurred across a wide variety of demographic and other household classifications. The evidence on the clustering of financial services is mixed. Households showed a slightly greater tendency to buy multiple banking services from their primary provider of such services in 2004 than in 1992, while they also became much more likely to procure services from firms that were not their primary provider.

Suggested Citation

  • Dean F. Amel & Arthur B. Kennickell & Kevin B. Moore, 2008. "Banking market definition: evidence from the Survey of Consumer Finances," Finance and Economics Discussion Series 2008-35, Board of Governors of the Federal Reserve System (U.S.).
  • Handle: RePEc:fip:fedgfe:2008-35
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    References listed on IDEAS

    as
    1. Marianne Bitler & Alicia M. Robb & John D. Wolken, 2001. "Financial services used by small businesses: evidence from the 1998 survey of small business finances," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), issue Apr, pages 183-205.
    2. repec:oup:jcomle:v:1:y:2005:i:4:p:771-784. is not listed on IDEAS
    3. Dean F. Amel & Martha Starr-McCluer, 2001. "Market definition in banking: recent evidence," Finance and Economics Discussion Series 2001-16, Board of Governors of the Federal Reserve System (U.S.).
    4. Robert M. Adams & Kenneth P. Brevoort & Elizabeth K. Kiser, 2005. "Who competes with whom? the case of depository institutions," Finance and Economics Discussion Series 2005-03, Board of Governors of the Federal Reserve System (U.S.).
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    Cited by:

    1. Rajan, Raghuram & Ramcharan, Rodney, 2016. "Local financial capacity and asset values: Evidence from bank failures," Journal of Financial Economics, Elsevier, vol. 120(2), pages 229-251.
    2. Adams, Robert M. & Amel, Dean F., 2011. "Market structure and the pass-through of the federal funds rate," Journal of Banking & Finance, Elsevier, vol. 35(5), pages 1087-1096, May.
    3. Goodstein, Ryan M. & Rhine, Sherrie L.W., 2017. "The effects of bank and nonbank provider locations on household use of financial transaction services," Journal of Banking & Finance, Elsevier, vol. 78(C), pages 91-107.
    4. Jaromir Nosal & Manolis Galenianos, 2015. "Segmentation of Information and the Credit Market," 2015 Meeting Papers 814, Society for Economic Dynamics.

    More about this item

    Keywords

    Banking market ; Households - Economic aspects;

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