The Postmodern Bank Safety Net

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The Postmodern Bank Safety Net

Author : Charles W. Calomiris
Publisher : American Enterprise Institute
ISBN 13 : 9780844771007
Total Pages : 60 pages
Book Rating : 4.7/5 (71 download)

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Book Synopsis The Postmodern Bank Safety Net by : Charles W. Calomiris

Download or read book The Postmodern Bank Safety Net written by Charles W. Calomiris and published by American Enterprise Institute. This book was released on 1997 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: Federal deposit insurance may be "the single most destabilizing influence in the financial system," says economist Charles W. Calomiris in a new study published by AEI. Market discipline provides a better bank safety net than government insurance, he concludes. The Postmodern Bank Safety Net: Lessons from Developed and Developing Economies shows how government deposit insurance subsidizes the risks taken by banks. Weak banks deliberately and sometimes with impunity take on greater risks than they can afford. Undue risk-taking would not be tolerated were private market discipline brought to bear on banks, Calomiris argues. Market discipline would place the regulatory burden on sophisticated market participants with their own money at stake-a bank would survive only if it had investors, and those investors would be willing to risk their money only if they were able to evaluate the bank's risk. Currently, banks that hide loan losses can avoid paying increased deposit insurance costs. At the same time, Calomiris says, government regulators lack strong incentive to determine the true risk characteristics of bank assets-government regulators do not have their own money at stake and they face political pressure to maintain the credit supply. The results can be calamitous. In the 1970s and 1980s the Farm Credit System was increasingly willing to lend against questionable collateral while private banks withdrew from the market as lending risk increased. The system failed, gripping U.S. farmers in a debt crisis. Similarly, the savings and loan failures and the oil-related bank collapses in Texas and Oklahoma of the 19080s can be attributed to the failure of the bank safety net. And Chile, Mexico, and Japan have suffered financial collapses because their governments protected banks from self-inflicted losses.

Market Discipline and Financial Safety Net Design

Author : Aslı Demirgüç-Kunt
Publisher : World Bank Publications
ISBN 13 : 2311540211
Total Pages : 52 pages
Book Rating : 4.3/5 (115 download)

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Book Synopsis Market Discipline and Financial Safety Net Design by : Aslı Demirgüç-Kunt

Download or read book Market Discipline and Financial Safety Net Design written by Aslı Demirgüç-Kunt and published by World Bank Publications. This book was released on 1999 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is difficult to design and implement an effective safety net for banks, because overgenerous protection of banks may introduce a risk-enhancing moral hazard and destabilize the very system it is meant to protect. The safety net that policymakers design must provide the right mix of market and regulatory discipline, enough to protect depositors without unduly undermining market discipline on banks.

Market Discipline and Financial Safety Net Design

Author : Asli Demirgüç-Kunt
Publisher :
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Market Discipline and Financial Safety Net Design by : Asli Demirgüç-Kunt

Download or read book Market Discipline and Financial Safety Net Design written by Asli Demirgüç-Kunt and published by . This book was released on 2016 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is difficult to design and implement an effective safety net for banks, because overgenerous protection of banks may introduce a risk-enhancing moral hazard and destabilize the very system it is meant to protect. The safety net that policymakers design must provide the right mix of market and regulatory discipline - enough to protect depositors without unduly undermining market discipline on banks.There has been little empirical work on the effectiveness of safety nets designed for banks, for lack of data on safety net design across countries. Demirguuml;ccedil;-Kunt and Huizinga examine cross-country data on bank-level interest expense and deposit growth for evidence of market discipline in individual countries. In addition, using cross-country information on deposit insurance systems, they investigate the impact of explicit deposit insurance (and its key features) on bank interest rates and market discipline.They find that:middot; Many countries retain some degree of market discipline, regardless of the type of safety net.middot; The existence of explicit deposit insurance lowers banks' interest expenses and makes interest payments less sensitive to bank risk factors, especially bank liquidity.middot; Higher explicit coverage, broader coverage, and the existence of an earmarked insurance fund increase required-deposit rates and reduce market discipline.middot; Government provision of funds lowers deposit rates but also reduces market discipline.middot; Private (especially joint) management of insurance schemes lowers deposit rates and improves market discipline.This paper - a product of Finance, Development Research Group - is part of a larger effort in the group to study deposit insurance. The authors may be contacted at [email protected] or [email protected].

Deposit Insurance

Author :
Publisher :
ISBN 13 :
Total Pages : 244 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Deposit Insurance by :

Download or read book Deposit Insurance written by and published by . This book was released on 2000 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Managing the Expanded Safety Net

Author : Gary H. Stern
Publisher : DIANE Publishing
ISBN 13 : 1437906494
Total Pages : 14 pages
Book Rating : 4.4/5 (379 download)

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Book Synopsis Managing the Expanded Safety Net by : Gary H. Stern

Download or read book Managing the Expanded Safety Net written by Gary H. Stern and published by DIANE Publishing. This book was released on 2009-02 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explains why the government¿s response to the 2007-08 financial turmoil, although justified, expanded the safety net and exacerbated the too big to fail (TBTF) problem. A larger TBTF problem is costly, having the capability to sow the seeds of future financial crises. Therefore, we should begin now to develop a new approach to manage TBTF. Their recommendations to address TBTF would effectively address the safety net expansion and position policymakers to respond more effectively to ¿the next Bear Stearns.¿ They explain their recommendations in terms of their relevance in today¿s environment. Concludes with excerpts from their 2004 book, ¿Too Big To Fail: The Hazards of Bank Buyout,¿ which summarize their arguments in more detail.

Economic Developments In India : Monthly Update, Volume -27 Analysis, Reports, Policy Documents

Author : Editors : Raj Kapila & Uma Kapila
Publisher : Academic Foundation
ISBN 13 : 9788171881871
Total Pages : 328 pages
Book Rating : 4.8/5 (818 download)

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Book Synopsis Economic Developments In India : Monthly Update, Volume -27 Analysis, Reports, Policy Documents by : Editors : Raj Kapila & Uma Kapila

Download or read book Economic Developments In India : Monthly Update, Volume -27 Analysis, Reports, Policy Documents written by Editors : Raj Kapila & Uma Kapila and published by Academic Foundation. This book was released on 2000 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt:

U.S. Bank Deregulation in Historical Perspective

Author : Charles W. Calomiris
Publisher : Cambridge University Press
ISBN 13 : 0521028388
Total Pages : 392 pages
Book Rating : 4.5/5 (21 download)

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Book Synopsis U.S. Bank Deregulation in Historical Perspective by : Charles W. Calomiris

Download or read book U.S. Bank Deregulation in Historical Perspective written by Charles W. Calomiris and published by Cambridge University Press. This book was released on 2006-11-02 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book shows how deregulation is transforming the size, structure, and geographic range of U.S. banks, the scope of banking services, and the nature of bank-customer relationships. Over the past two decades the characteristics that had made American banks different from other banks throughout the world--a fragmented geographical structure of the industry, which restricted the scale of banks and their ability to compete with one another, and strict limits on the kinds of products and services commercial banks could offer--virtually have been eliminated. Understanding the origins and persistence of the unique banking regulations that defined U.S. banking for over a century lends an important perspective on the economic and political causes and consequences of the current process of deregulation.

Beyond the Washington Consensus

Author : Shahid Javed Burki
Publisher : World Bank Publications
ISBN 13 : 9780821342824
Total Pages : 172 pages
Book Rating : 4.3/5 (428 download)

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Book Synopsis Beyond the Washington Consensus by : Shahid Javed Burki

Download or read book Beyond the Washington Consensus written by Shahid Javed Burki and published by World Bank Publications. This book was released on 1998-01-01 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report examines the precise nature of the required institutional reforms needed to achieve higher sustained rates of growth and to make a dent in poverty reduction and provides a framework for their design and implementation. The more modest objective is to examine how the concepts of the new institutional economics are useful for analyzing and designing institutions and to evaluate how political economy concepts can be used to develop strategies for implementing institutional reforms. Employing some of these concepts, the report demonstrates that sound institutional reform can be technically and politically viable in the following key sectors: banking; capital markets and legal institutions; educational institutions; judicial reforms; and public administration.

Contemporary Topics in Finance

Author : Iris Claus
Publisher : John Wiley & Sons
ISBN 13 : 1119565189
Total Pages : 468 pages
Book Rating : 4.1/5 (195 download)

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Book Synopsis Contemporary Topics in Finance by : Iris Claus

Download or read book Contemporary Topics in Finance written by Iris Claus and published by John Wiley & Sons. This book was released on 2019-03-07 with total page 468 pages. Available in PDF, EPUB and Kindle. Book excerpt: The literature surveys presented in this edited volume provide readers with up-to-date reviews on eleven contemporary topics in finance. Topics include unconventional monetary policy, implicit bank guarantees, and financial fraud - all linked to the exceptional event of the Global Financial Crisis Explores how recent studies on inflation risk premia and finance and productivity have benefitted from new empirical methods and the availability of relevant data Demonstrates how angel investing, venture capital, relationship lending and microfinance have benefitted from increased research as they have become more seasoned Investigates crowdfunding and crypto-currencies which have both arisen from recent technological developments

Alternative Frameworks for Providing Financial Services

Author : Stijn Claessens
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4./5 ( download)

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Book Synopsis Alternative Frameworks for Providing Financial Services by : Stijn Claessens

Download or read book Alternative Frameworks for Providing Financial Services written by Stijn Claessens and published by World Bank Publications. This book was released on 1999 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: The behavior of actors in financial systems depends crucially on the incentives that motivate them. The right regulation, supervision, and incentives (including the scope of permissible activities, degree of contestability, and extent of safety net) for financial services can make the sector more resilient in the face of adverse shocks.

Financial Modernization

Author : United States. Congress. House. Committee on Banking and Financial Services
Publisher :
ISBN 13 :
Total Pages : 590 pages
Book Rating : 4.:/5 (327 download)

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Book Synopsis Financial Modernization by : United States. Congress. House. Committee on Banking and Financial Services

Download or read book Financial Modernization written by United States. Congress. House. Committee on Banking and Financial Services and published by . This book was released on 1997 with total page 590 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Who Pays for Bank Insolvency?

Author : D. Mayes
Publisher : Springer
ISBN 13 : 0230523919
Total Pages : 390 pages
Book Rating : 4.2/5 (35 download)

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Book Synopsis Who Pays for Bank Insolvency? by : D. Mayes

Download or read book Who Pays for Bank Insolvency? written by D. Mayes and published by Springer. This book was released on 2016-04-30 with total page 390 pages. Available in PDF, EPUB and Kindle. Book excerpt: How to avoid taxpayers paying for bank failures and banking crises? This book provides a proposal and a critique by twelve independent experts. It is addressed particularly to the threat posed in Europe by having large international banks, a history of bailouts and limited means of resolving any future banking crises. It shows how political imperatives and legal constraints currently result in economic losses in many countries round the world.

International Financial Markets

Author : Leonardo Auernheimer
Publisher : University of Chicago Press
ISBN 13 : 0226032159
Total Pages : 341 pages
Book Rating : 4.2/5 (26 download)

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Book Synopsis International Financial Markets by : Leonardo Auernheimer

Download or read book International Financial Markets written by Leonardo Auernheimer and published by University of Chicago Press. This book was released on 2010-04-15 with total page 341 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the globalization of financial markets continues, we urgently need to understand the crises that have plagued these markets and the policies best suited to preventing such crises in the future. In this book, a prominent group of economists and policymakers blend conceptual analysis and policy discussion in seven well-integrated papers, analyzing the nature of capital flows, alternative exchange-rate regimes, and the roles of international financial institutions. After a guided tour by the editor and a historical exploration, some of the world's leading theorists and policy analysts examine the benefits and pitfalls of capital movements and controls. In the second portion, papers examine the recent experiences of Argentina and Mexico, with Charles Calomiris—whose proposals for a new world financial architecture have elicited wide attention—contributing a response. The volume concludes with a roundtable discussion of the report of the International Financial Institutions Advisory Commission, in which the chair of the commission, Allan H. Meltzer, both comments on the report and responds to questions about it. The material presented here will become a standard reference for analysts, policymakers, and the interested general public. Contributors: Leonardo Auernheimer, Matthew Bishop, Michael D. Bordo, Charles Calomiris, Guillermo A. Calvo, Augustin Carstens, Michael P. Dooley, Pablo E. Guidotti, T. Britton Harris, John P. Lipsky, Guillermo Ortiz Martinez, Allan H. Meltzer, Andrew Powell, Rene Stulz, Carl E. Walsh

Governance, Regulation, and Privatization in the Asia-Pacific Region

Author : Takatoshi Ito
Publisher : University of Chicago Press
ISBN 13 : 0226386961
Total Pages : 483 pages
Book Rating : 4.2/5 (263 download)

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Book Synopsis Governance, Regulation, and Privatization in the Asia-Pacific Region by : Takatoshi Ito

Download or read book Governance, Regulation, and Privatization in the Asia-Pacific Region written by Takatoshi Ito and published by University of Chicago Press. This book was released on 2007-11-01 with total page 483 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the last twenty-five years, there has been an acceleration in the move from government regulation towards privatization. Governance, Regulation, and Privatization in the Asia-Pacific Region is the first thoroughgoing account of the relative success of the different approaches to privatization as undertaken in Korea, China, Australia, and Japan. In most contexts, privatization is expected to yield greater efficiency and cost effectiveness while avoiding the corruption and bloated budgets of government regulation or monopoly control. But broad-scale privatization, if ill designed, has also yielded its share of difficulties in East Asia. Privatization sometimes has created a vacuum in corporate governance for some of the region's most important industries and in some cases merely reinstated the monopoly-like configurations. The papers presented in this book discuss the experiences of privatization in several industries, including railroad and telecom, corporate governance problems, accounting issues, and challenges for the future in East Asian countries. The first section is theoretical in nature and proposes boundaries among government protection, market freedom, and shareholder expectations. The second part is constituted by country case studies, beginning with an analysis of both the Korean financial crisis that followed its 1997 law to privatize large, public sector corporations and the new ways Korean corporations finance themselves. Following is an evaluation of China's approach to privatization, with an in-depth look at the financial transitions of companies slated for initial public offering. Providing provocative examples of the methods of privatization in the Asia-Pacific region specifically, these papers will be of huge import to any economist or policymaker interested in transposing those successes for their own region.

Market Discipline Across Countries and Industries

Author : C. E. V. Borio
Publisher : MIT Press
ISBN 13 : 9780262025751
Total Pages : 472 pages
Book Rating : 4.0/5 (257 download)

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Book Synopsis Market Discipline Across Countries and Industries by : C. E. V. Borio

Download or read book Market Discipline Across Countries and Industries written by C. E. V. Borio and published by MIT Press. This book was released on 2004 with total page 472 pages. Available in PDF, EPUB and Kindle. Book excerpt: Leading academics and policymakers address the theory of market discipline and consider evidence across different industries and countries. The effectiveness of market discipline -- the strong built-in incentives that encourage banks and financial systems to operate soundly and efficiently -- commands much attention today, particularly in light of recent accounting scandals. As government discipline, in the form of regulation, seems to grows less effective as the banking industry and financial markets grow more complex, the role of market discipline becomes increasingly important. In this collection, which grew out of a conference cosponsored by the Federal Reserve Bank of Chicago and the Bank for International Settlements in Basel, Switzerland, a diverse group of academics and policymakers address different aspects of the ability of market discipline to affect corporate behavior and performance. A major purpose of the book is to develop evidence on how market discipline operates across non-government regulated industries and in different countries, how successful it has been, and how it may transfer to a regulated industry. The chapters examine such topics as the theory of market discipline, evidence of market discipline in banking and other industries, evidence of market discipline for countries, the current state of corporate governance, and the interaction of market discipline and public policy.

Serving Two Masters, Yet Out of Control

Author : Peter J. Wallison
Publisher : American Enterprise Institute
ISBN 13 : 9780844741666
Total Pages : 204 pages
Book Rating : 4.7/5 (416 download)

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Book Synopsis Serving Two Masters, Yet Out of Control by : Peter J. Wallison

Download or read book Serving Two Masters, Yet Out of Control written by Peter J. Wallison and published by American Enterprise Institute. This book was released on 2001 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: Because two disparate clients demand loyalty from Fannie Mae and Freddie Mac, these government-sponsored entities must fulfill two ultimately irreconcilable roles.

Capital Adequacy beyond Basel

Author : Hal S. Scott
Publisher : Oxford University Press
ISBN 13 : 0199883521
Total Pages : 354 pages
Book Rating : 4.1/5 (998 download)

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Book Synopsis Capital Adequacy beyond Basel by : Hal S. Scott

Download or read book Capital Adequacy beyond Basel written by Hal S. Scott and published by Oxford University Press. This book was released on 2005-02-17 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is timely since the Basel Committee on Banking Supervision at the Bank for International Settlements is in the process of making major changes in the capital rules for banks. It is important that capital adequacy regulation helps to achieve financial stability in the most efficient way. Capital adequacy rules have become a key tool to protect financial institutions. The research contained within the book covers some key issues at stake in the capital requirements for insurance and securities firms. The contributors are among the leading scholars in financial economics and law. Their contributions analyze the use of subordinated debt, internal models, and rating agencies in addition to examining the effect on capital of reinsurance, securitization, credit derivatives, and similar instruments.