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Banking and Financial Markets

Economic Trends

• A Snapshot of Bank Soundness
• Bank-Holding Companies in the Last Decade
• The Yield Curve and Projected GDP Growth, July 2012
• A Slow Recovery in the Banking Sector
• How Many U.S. Mortgages Are Linked to Libor?
• The Yield Curve and Projected GDP Growth, June 2012
• Subdued Business Lending
• The Yield Curve and Projected GDP Growth, May 2012
• Bank Capitalization
• The Yield Curve and Projected GDP Growth, April 2012
• New York Fed Breaks Up with Maiden II
• The Yield Curve and Projected GDP Growth, March 2012
• The Availability and Profitability of Credit Cards
• The Yield Curve and Projected GDP Growth, February 2012
• How Is Structured Finance Doing?
• Loans and Leases in Bank Credit
• Are Consumers More Eager to Borrow?
• The Yield Curve and Projected GDP Growth, January 2012
• The Health of Federally-Insured Credit Unions
• The Yield Curve and Projected GDP Growth, December 2011
• Mortgage Market Struggles to Gain Footing
• The Yield Curve and Projected GDP Growth, November 2011
• Sovereign Debt Implications on the European Banking System
• The Yield Curve and Projected GDP Growth, October 2011
• The Yield Curve and Projected GDP Growth, September 2011
• A Slow Recovery in the Banking Sector
• The Yield Curve and Projected GDP Growth, August 2011
• Mortgage Market Continues to Struggle
• Household Finances
• Has the Over-the-Counter Derivatives Market Revived Yet?
• Global Banking System Exposure to the Greek Sovereign Debt Crisis
• The Yield Curve and Projected GDP Growth, July 2011
• The Yield Curve and Projected GDP Growth, June 2011
• Small Business Lending Continues to Struggle
• Mortgage Originations Struggle to Stay Afloat
• The Yield Curve and Economic Growth, May 2011
• The Yield Curve and Economic Growth, April 2011
• The Federal Reserve’s Influence over Excess Reserves
• Bank Lending
• The Yield Curve and Economic Growth, March 2011
• Mortgage Originations—A Mixed Bag
• The Yield Curve and Economic Growth, February 2011
• Loans and Leases in Bank Credit
• The Yield Curve and Predicted GDP Growth, January 2011
• Continued Weakness in Small Business Lending
• The Yield Curve and Predicted GDP Growth, December 2010
• Mortgage Borrowers Deleverage
• The Yield Curve and Predicted GDP Growth, November 2010
• The Yield Curve and Predicted GDP Growth, October 2010
• Federal Home Loan Banks: The Housing GSE That Didn’t Bark in the Night?
• The Yield Curve and Predicted GDP Growth, September 2010
• The Yield Curve, August 2010
• Where Does the Mortgage Market Go from Here?
• The Yield Curve, July 2010
• Bank Executive Pay
• Current Banking Conditions, FDIC-Insured Institutions
• The Yield Curve, May 2010
• Has the Mortgage Market Run Out of Steam?
• The Yield Curve, April 2010
• The Credit Crunch in Commercial Loan Syndication
• Commercial Bank Lending
• Signs of Abating Default Risk
• The Yield Curve, February 2010
• Seriously Delinquent Mortgages in the Fourth District
• What Is the Yield Curve Telling Us?...And Should We Have Listened?
• An Update on Banks’ Commercial Real Estate Exposure
• The Yield Curve, December 2009
• An Update on the High-Yield Corporate Bond Spread and Economic Activity
• Supply and Demand Shocks in Residential Mortgages
• The Yield Curve, November 2009
• The High-Yield Corporate Bond Spread and Economic Activity
• The Yield Curve, October 2009
• The Availability and Profitability of Credit Cards
• The Yield Curve, September 2009
• The Yield Curve, August 2009
• Bank Lending, Capital, Booms, and Busts
• Bank Exposure to Commercial Real Estate
• The Yield Curve, July 2009
• Consumer Credit Markets
• The Yield Curve, June 2009
• The Credit Environment for Business Loans
• The Yield Curve, May 2009
• How Realistic Were the Economic Forecasts Used in the Stress Tests?
• The Yield Curve, April 2009
• Fourth District Bank Holding Companies
• The Yield Curve, March 2009
• FDIC Funds
• The Yield Curve, February 2009
• The Yield Curve, January 2009
• The Changing Face of Consumer Finance
• The Yield Curve, December 2008
• Fourth District Community Banks
• The Yield Curve, November 2008
• Business Loan Markets
• More Measures Introduced to Help Financial Markets
• The Yield Curve, October 2008
• Housing and the Banking Industry
• The Yield Curve, September 2008
• The Yield Curve, August 2008
• Fourth District Bank Holding Company Conditions
• The Yield Curve, July 2008
• The Yield Curve, June 2008
• Business Loan Markets
• FDIC Funds
• The Yield Curve, May 2008
• Fourth District Bank Holding Companies
• The Yield Curve, April 2008
• The Yield Curve, March 2008
• Banking Structure
• Business Loan Markets
• The Yield Curve, February 2008
• The Yield Curve, January 2008
• Fourth District Community Banks
• The Yield Curve, December 2007
• The Funds Rate, Liquidity, and the Term Auction Facility
• The Yield Curve, November 2007
• Business Loan Markets
• Mortgage Lending
• Financial Markets: Settling but Cautious
• The Yield Curve, October, 2007
• Jumbo Mortgages and Mortgage Market Conditions
• Reserve Market Rates and Discount Window Lending
• The Yield Curve, September 2007
• The Yield Curve, August 2007
• The Yield Curve, July 2007
• The Yield Curve, June 2007
• The Yield Curve, May 2007
• The Yield Curve, April 2007
• FDIC Funds
• The Yield Curve, March 2007
• The Yield Curve, February 2007
• Banking Structure
• Business Loan Markets
• The Yield Curve, January 2007
• Market Expectations of Policy Rates
• Interest Rates, Yields, Outstanding Debt, and Consumer Attitudes
• Fourth District Banking Conditions
• The Yield Curve, December 2006
• Credit Unions  (PDF)
• Money and Financial Markets  (PDF)
• Business Loan Markets  (PDF)
• Foreign Banks in the U.S.  (PDF)
• Money and Financial Markets  (PDF)
• Fourth District Commercial Banks  (PDF)
• Money and Financial Markets  (PDF)
• FDIC Funds  (PDF)
• Money and Financial Markets  (PDF)
• Mortgage Lending  (PDF)
• Business Loan Markets  (PDF)
• Fourth District Banking Conditions  (PDF)
• Money and Financial Markets  (PDF)
• Banking Structure  (PDF)
• Foreign Banking Organizations  (PDF)
• Money and Financial Markets  (PDF)
• Business Loan Markets  (PDF)
• FDIC Funds  (PDF)
• Money and Financial Markets  (PDF)
• Central Bank Independence  (PDF)
• Commercial Banks  (PDF)
• Credit Unions  (PDF)
• Money and Financial Markets  (PDF)
• Banking Structure  (PDF)
• Business Loan Markets  (PDF)
• Money and Financial Markets  (PDF)
• Fourth District Banks  (PDF)
• Money and Financial Markets  (PDF)
• Fourth District Banks  (PDF)
• FDIC Funds  (PDF)
• Money and Financial Markets  (PDF)
• Credit Unions  (PDF)
• Money and Financial Markets  (PDF)
• Business Loan Markets  (PDF)
• Fourth District Banks  (PDF)
• Money and Financial Markets  (PDF)
• Foreign Central Banks  (PDF)
• Fourth District Banks  (PDF)
• Foreign Banking Organizations  (PDF)
• Foreign Central Banks  (PDF)
• Money and Financial Markets  (PDF)
• Foreign Central Banks  (PDF)
• Fourth District Banks  (PDF)
• Money and Financial Markets  (PDF)
• Business Loan Markets  (PDF)
• Foreign Central Banks  (PDF)
• Money and Financial Markets  (PDF)
• Federal Deposit Insurance Funds  (PDF)
• Foreign Central Banks  (PDF)
• Money and Financial Markets  (PDF)
• Foreign Central Banks  (PDF)
• Fourth District Banks  (PDF)
• Foreign Central Banks  (PDF)
• Money and Financial Markets  (PDF)
• Banking Structure  (PDF)
• Foreign Central Banks  (PDF)
• Foreign Central Banks  (PDF)
• Fourth District Banking  (PDF)
• Money and Financial Markets  (PDF)
• Foreign Banking Organizations  (PDF)
• Foreign Central Banks  (PDF)
• Money and Financial Markets  (PDF)
• FDIC Funds  (PDF)
• Foreign Central Banks  (PDF)
• Foreign Central Banks  (PDF)
• Fourth District Commercial Banks  (PDF)
• Money and Financial Markets  (PDF)
• Foreign Central Banks  (PDF)
• Fourth District Banking Conditions  (PDF)
• Money and Financial Markets  (PDF)
• Mortgage Lending  (PDF)
• Foreign Central Banks  (PDF)
• Fourth District Banking Conditions  (PDF)
• Money and Financial Markets  (PDF)
• Foreign Central Banks  (PDF)
• Fourth District Commercial Banks  (PDF)
• Money and Financial Markets  (PDF)
• Emerging Market Debt  (PDF)
• FDIC Funds  (PDF)
• Foreign Central Banks  (PDF)
• Treasury Inflation-Indexed Securities  (PDF)
• Foreign Central Banks  (PDF)
• Money and Financial Markets  (PDF)
• Savings Institutions  (PDF)
• FDIC-Insured Commercial Banks  (PDF)
• Foreign Central Banks  (PDF)
• Money and Financial Markets  (PDF)
• Federal Home Loan Banks  (PDF)
• Foreign Central Banks  (PDF)
• Money and Financial Markets  (PDF)
• Foreign Central Banks  (PDF)
• Money and Financial Markets  (PDF)
• Savings Institutions  (PDF)
• Foreign Central Banks  (PDF)
• Money and Financial Markets  (PDF)
• Credit Unions  (PDF)
• Foreign Central Banks  (PDF)
• Money and Financial Markets  (PDF)
• Depository Institutions  (PDF)
• Foreign Central Banks  (PDF)
• Monetary Policy  (PDF)
• Money and Financial Markets  (PDF)
• FDIC-Insured Commercial Banks  (PDF)
• Foreign Central Banks  (PDF)
• Money and Financial Markets  (PDF)
• Federal Home Loan Banks  (PDF)
• Foreign Central Banks  (PDF)
• Money and Financial Markets  (PDF)
• The Wealth of Nations  (PDF)
• Foreign Central Banks  (PDF)
• Money and Financial Markets  (PDF)
• Savings Institutions  (PDF)
• Depository Institutions  (PDF)
• Foreign Central Banks  (PDF)
• Money and Financial Markets  (PDF)
• Federal Deposit Insurance Corporation Funds  (PDF)
• Foreign Central Banks  (PDF)
• Money and Financial Markets  (PDF)
• Foreign Central Banks  (PDF)
• Monetary Policy  (PDF)
• Money and Financial Markets  (PDF)
• Savings Institutions  (PDF)
• Depository Institutions  (PDF)
• Foreign Central Banks  (PDF)
• Money and Financial Markets  (PDF)
• Credit Unions  (PDF)
• Foreign Central Banks  (PDF)
• Money and Financial Markets  (PDF)
• Foreign Central Banks  (PDF)
• Savings Institutions  (PDF)
• Depository Institutions  (PDF)
• Foreign Central Banks  (PDF)
• Money and Financial Markets  (PDF)
• Federal Home Loan Banks  (PDF)
• Foreign Central Banks  (PDF)
• Money and Financial Markets  (PDF)
• Foreign Central Banks  (PDF)
• Money and Financial Markets  (PDF)
• Savings Interest  (PDF)
• Commercial Banks  (PDF)
• Foreign Central Banks  (PDF)
• Monetary Policy  (PDF)
• Money and Financial Markets  (PDF)
• Banking Conditions in the Recession of 1990 and 2002  (PDF)
• Foreign Central Banks  (PDF)
• Monetary and Financial Markets  (PDF)
• Energy, Monetary Policy, and the Business Cycle  (PDF)
• Foreign Central Banks  (PDF)
• Money and Financial Markets  (PDF)
• Savings Associations  (PDF)
• Depository Institutions  (PDF)
• Foreign Central Banks  (PDF)
• Money and Financial Markets  (PDF)
• Federal Deposit Insurance Corporation Funds  (PDF)
• Foreign Central Banks  (PDF)
• Money and Financial Markets  (PDF)
• Credit Unions  (PDF)
• Foreign Central Banks  (PDF)
• Money and Financial Markets  (PDF)
• Commercial Banks  (PDF)
• Foreign Central Banks  (PDF)
• Money and Financial Markets  (PDF)
• Savings Associations  (PDF)
• Bank Loan Demand and Lending Standards  (PDF)
• Commercial Bank Profitability  (PDF)
• Foreign Central Banks  (PDF)
• Money and Financial Markets  (PDF)
• Foreign Banking Organizations  (PDF)
• Foreign Central Banks  (PDF)
• Money and Financial Markets  (PDF)
• Structure of Depository Institutions  (PDF)
• Commercial Banks  (PDF)
• Foreign Central Banks  (PDF)
• Money and Financial Markets  (PDF)
• Savings and Loan Associations  (PDF)
• Federal Home Loan Banks  (PDF)
• Foreign Central Banks  (PDF)
• Money and Financial Markets  (PDF)
• Banking Conditions  (PDF)
• Commercial Banks  (PDF)
• Foreign Central Banks  (PDF)
• Money and Financial Markets  (PDF)
• Commercial Banks  (PDF)
• Foreign Central Banks  (PDF)
• Matters of Interest  (PDF)
• Money and Financial Markets  (PDF)
• Savings and Loan Associations  (PDF)
• Federal Home Loan Banks  (PDF)
• Foreign Central Banks  (PDF)
• Money and Financial Markets  (PDF)
• Credit Unions  (PDF)
• Foreign Central Banks  (PDF)
• Money and Financial Markets  (PDF)
• Commercial Banks  (PDF)
• Foreign Central Banks  (PDF)
• Money and Financial Markets  (PDF)
• Savings and Loan Associations  (PDF)
• Commercial Banks  (PDF)
• Foreign Central Banks  (PDF)
• Money and Financial Markets  (PDF)
• Commercial Bank Lending to Small Businesses  (PDF)
• FHLB Advances to Depository Institutions  (PDF)
• Foreign Central Banks  (PDF)
• Money and Financial Markets  (PDF)
• Commercial Banks  (PDF)
• Money and Financial Markets  (PDF)
• Savings Associations  (PDF)
• Lending by Depository Institutions  (PDF)
• Money and Financial Markets  (PDF)
• Credit Unions  (PDF)
• Foreign Central Banks  (PDF)
• Money and Financial Markets  (PDF)
• Banking Conditions  (PDF)
• Interest Rates  (PDF)
• Bank and Savings Association Structure  (PDF)
• Foreign Banking Organization  (PDF)
• Interest Rates  (PDF)
• Savings Association Performance  (PDF)
• Banking Conditions  (PDF)
• Gold  (PDF)
• Banking Conditions  (PDF)
• Federal Home Loan Banks  (PDF)
• Interest Rates  (PDF)
• Deposit Insurance  (PDF)
• Interest Rates  (PDF)
• Interest Rates  (PDF)
• Banking Conditions  (PDF)
• Interest Rates  (PDF)
• Long-Term Banking Conditions  (PDF)
• Banking Conditions  (PDF)
• Interest Rates  (PDF)
• Interest Rates  (PDF)
• Banking Conditions  (PDF)
• Federal Home Loan Banks  (PDF)
• Interest Rates  (PDF)
• Earnings of Banks and Savings Institutions  (PDF)
• Interest Rates  (PDF)
• Banking Legislation  (PDF)
• Gold Prices  (PDF)
• Interest Rates  (PDF)
• Bank Performance  (PDF)
• Foreign Banking Organizations  (PDF)
• Interest Rates  (PDF)
• Savings Association Performance  (PDF)
• Banking Conditions  (PDF)
• Interest Rates  (PDF)
• Banking Conditions  (PDF)
• Interest Rates  (PDF)
• Banking Conditions  (PDF)
• Interest Rates  (PDF)
• Interest Rates  (PDF)
• Banking Conditions  (PDF)
• Interest Rates  (PDF)
• Banking Conditions  (PDF)
• Interest Rates  (PDF)
• Interest Rates  (PDF)
• Interest Rates  (PDF)
• Banking Conditions  (PDF)
• Federal Deposit Insurance  (PDF)
• Interest Rates  (PDF)
• Interest Rates  (PDF)
• Banking Conditions  (PDF)
• Interest Rates  (PDF)
• Banking Conditions  (PDF)
• Interest Rates  (PDF)
• Money Growth and Stock Market Volatility  (PDF)
• Interest Rates  (PDF)
• Monetary Policy  (PDF)
• Banking Conditions  (PDF)
• Banking and the Stock Market  (PDF)
• Interest Rates  (PDF)
• Banking Conditions--Then and Now  (PDF)
• Interest Rates  (PDF)
• Savings Rates  (PDF)
• Small Business Lending  (PDF)
• Bank Conditions  (PDF)
• Interest Rates  (PDF)
• Precious Metals Prices  (PDF)
• Credit Card Activity  (PDF)
• Interest Rates  (PDF)
• Domestic Banking Conditions  (PDF)
• Gold Prices  (PDF)
• Interest Rates  (PDF)
• Is the Stock Market Overvalued?  (PDF)
• Housing Finance  (PDF)
• Interest Rates  (PDF)
• Mortgage-backed Securities  (PDF)
• The Stock Market  (PDF)
• Banking Conditions  (PDF)
• Equity Prices  (PDF)
• Interest Rates  (PDF)
• International Banking Conditions  (PDF)
• Interest Rates  (PDF)
• The TED Spread  (PDF)
• Banking Conditions  (PDF)
• Inflation and Money Growth  (PDF)
• Interest Rates  (PDF)
• Interest Rates in the 1920s  (PDF)
• Banking Conditions  (PDF)
• Gold Markets  (PDF)
• Interest Rates  (PDF)
• The Stock Market  (PDF)
• Bank Lending in the U.S.  (PDF)
• Gold Prices  (PDF)
• Interest Rates  (PDF)
• U.S. Bank Lending Abroad  (PDF)
• Interest Rates  (PDF)
• The Stock Market Correction  (PDF)
• Banking Conditions  (PDF)
• Interest Rates  (PDF)
• Stock Market Volatility  (PDF)
• Financing the Investment Boom  (PDF)
• Housing Finance  (PDF)
• Interest Rates  (PDF)
• Banking Conditions  (PDF)
• Gold Futures, January 1980-July 1997  (PDF)
• Interest Rates  (PDF)
• Banking Conditions  (PDF)
• Interest Rates  (PDF)
• Gold Markets  (PDF)
• Interest Rates  (PDF)
• Banking Conditions  (PDF)
• Interest Rates  (PDF)
• Precious Metal Prices  (PDF)
• Banking Conditions  (PDF)
• Interest Rates  (PDF)
• The Stock Market  (PDF)
• Banking Consolidation and Small Business Lending  (PDF)
• Interest Rates  (PDF)
• Interest Rates  (PDF)
• Banking Conditions  (PDF)
• Interest Rates  (PDF)
• The Stock Market  (PDF)
• Banking Industry Employment  (PDF)
• Interest Rates  (PDF)
• The Stock Market  (PDF)
• Banking Conditions  (PDF)
• Interest Rates  (PDF)
• Banking Conditions  (PDF)
• Interest Rates  (PDF)
• Interest Rates  (PDF)
• Banking Conditions  (PDF)
• Interest Rates  (PDF)
• Bank Lending Standards  (PDF)
• Interest Rates  (PDF)
• Interest Rates  (PDF)
• Secondary Mortgage Market Activity  (PDF)
• Small Business Lending  (PDF)
• Bank Mergers and Acquisitions  (PDF)
• Banking Conditions  (PDF)
• Interest Rates  (PDF)
• Banking Conditions  (PDF)
• Interest Rates  (PDF)
• Banking Conditions  (PDF)
• Interest Rates  (PDF)
• Banking Conditions  (PDF)
• Interest Rates  (PDF)
• Banking Conditions  (PDF)
• Interest Rates  (PDF)
• The Yield Curve  (PDF)
• Derivatives  (PDF)
• Regional Banking Conditions  (PDF)
• Banking Conditions  (PDF)

Economic Commentary

• Alternatives to Libor in Consumer Mortgages  (PDF)
• Exchange-Traded Funds  (PDF)
• The History and Rationale for a Separate Bank Resolution Process  (PDF)
• How Well Does Bankruptcy Work When Large Financial Firms Fail? Some Lessons from Lehman Brothers  (PDF)
• Resolving Large, Complex Financial Firms  (PDF)
• Credit Flows to Businesses During the Great Recession  (PDF)
• Do Bank Branches Matter Anymore?  (PDF)
• The Great Recession’s Effect on Entrepreneurship  (PDF)
• An End to Too Big to Let Fail? The Dodd–Frank Act’s Orderly Liquidation Authority  (PDF)
• The Effect of Falling Home Prices on Small Business Borrowing  (PDF)
• Compensation and Risk Incentives in Banking and Finance  (PDF)
• Reforming the Over-the-Counter Derivatives Market: What’s to Be Gained?  (PDF)
• Why Didn’t Canada’s Housing Market Go Bust?  (PDF)
• Credit Default Swaps and Their Market Function  (PDF)
• Ten Myths about Subprime Mortgages  (PDF)
• Foreclosure Metrics  (PDF)
• Effective Practices in Crisis Resolution and the Case of Sweden  (PDF)
• Adjustable-Rate Mortgages and the Libor Surprise  (PDF)
• A New Role for the Exchange Stabilization Fund  (PDF)
• Covered Bonds: A New Way to Fund Residential Mortgages  (PDF)
• Trouble Ahead for Student Loans?  (PDF)
• A Brief History of Central Banks  (PDF)
• Prepayment Penalties on Subprime Mortgages  (PDF)
• Credit Spreads and Subordinated Debt  (PDF)
• Private Money in our Past, Present, and Future  (PDF)
• Industrial Loan Companies  (PDF)
• Inflation, Banking, and Economic Growth  (PDF)
• Does the Yield Curve Signal Recession?  (PDF)
• Optimal Deposit Contracts: Do-It-Yourself Bank-Run Prevention for Banks  (PDF)
• The Role of Relationships in Small-Business Lending  (PDF)
• Umbrella Supervision  (PDF)
• Why Policymakers Might Care about Stock Market Bubbles  (PDF)
• Too Much Risk?  (PDF)
• Oil Prices: Backward to the Future?  (PDF)
• Are SBA Loan Guarantees Desirable?  (PDF)
• Interest Rates, Yield Curves, and the Monetary Regime  (PDF)
• Dividends  (PDF)
• Mutual Funds, Fee Transparency,and Competition  (PDF)
• Arbitrage: The Key to Pricing Options  (PDF)
• Expensing Stock Options  (PDF)
• Boil, Toil, and Trouble?  (PDF)
• An Option for Anticipating Fed Action  (PDF)
• Securitization  (PDF)
• The Evolving Role of the Federal Home Loan Banks in Mortgage Markets  (PDF)
• The Iowa Electronic Markets  (PDF)
• Why Are TIIS Yields So High? The Case of the Missing Inflation-Risk Premium  (PDF)
• Measures of Corporate Earnings: What Number Is Best?  (PDF)
• Not as Easy as It Looks: Regulating Effective Corporate Governance  (PDF)
• Options and the Future: What Do Markets Think?  (PDF)
• Stock Prices and Output Growth: An Examination of the Credit Channel  (PDF)
• Commercial Banks’ Borrowing from the Federal Home Loan Banks  (PDF)
• Fear and Loathing of Central Banks in America  (PDF)
• Consumer Financial Privacy and the Gramm-Leach-Bliley Act  (PDF)
• Legal Systems and Bank Development  (PDF)
• Why Haven’t Long-Term Interest Rates Fallen?  (PDF)
• Swaps and the Swaps Yield Curve  (PDF)
• How Well Does the Federal Funds Futures Rate Predict the Future Federal Funds Rate?  (PDF)
• Who Benefits from Increasing the Federal Deposit Insurance Limit?  (PDF)
• Effective Supervision and the Evolving Financial Services Industry  (PDF)
• Fiscal Policy in an Era of Surpluses  (PDF)
• Why Is the Dividend Yield So Low?  (PDF)
• Risk Management and Financial Crises  (PDF)
• The Performance and Profitability of CRA-Related Lending  (PDF)
• Two Deposit Insurance Funds Are Not Necessarily Better than One  (PDF)
• Understanding the Wash Cycle  (PDF)
• Investor Expectations and Fundamentals: Disappointment Ahead?  (PDF)
• Raising the Deposit-Insurance Limit: A Bad Idea Whose Time Has Come?  (PDF)
• Evolution in Banking Supervision  (PDF)
• Financial Crises and Market Regulation  (PDF)
• Mortgage Brokers and Fair Lending  (PDF)
• The Truth about Hedge Funds  (PDF)
• Bringing the Unbanked Onboard  (PDF)
• Subordinated debt: tough love for banks?  (PDF)
• Global ATM banking: casting the net  (PDF)
• Measuring Pricing Bias in Mortgages  (PDF)
• Gold prices  (PDF)
• Do More Banking Offices Mean More Banking Services?  (PDF)
• The dark side of liquidity  (PDF)
• Wealth, Economic Infrastructure, and Monetary Policy  (PDF)
• TIPS for Safer Investing
• PMI Reform: Good Intentions Gone Awry
• Information dynamics and CRA strategy
• Stock market fundamentals
• The Hidden Costs of Mexican Banking Reform
• Jobs Creation and Government Policy
• The Functions and Future of Retail Banking
• Discrimination in Mortgage Lending: What Have We Learned?
• Interest rate rules for seasonal and business cycles
• Where is all the U.S. currency hiding?
• The Future of Banking Supervision
• Glass-Steagall and the Regulatory Dialectic
• Rooting Out Discrimination in Home Mortgage Lending  (PDF)
• Derivative Mechanics: The CMO  (PDF)
• Regulation and the Future of Banking  (PDF)
• SAIF policy options  (PDF)
• How much is daylight credit worth?  (PDF)
• Specialization in Risk Management  (PDF)
• Bank Receivership and Conservatorship  (PDF)
• Banking and the Flow of Funds: Are Banks Losing Market Share?  (PDF)
• Lessons from the Collapse of Three State-Chartered Private Deposit Insurance Funds  (PDF)
• Issues in CRA reform  (PDF)
• The national depositor preference law  (PDF)
• Replacing reserve requirements  (PDF)
• Community Lending and Economic Development  (PDF)
• Making the SAIF safe for taxpayers  (PDF)
• The decline in U.S. saving rates: a cause for concern?  (PDF)
• Assessing Real Interest Rates  (PDF)
• A Market-Based Approach to Regulatory Reform  (PDF)
• Home mortgage lending by the numbers  (PDF)
• Bank Exposure to Highly Leveraged Transactions  (PDF)
• The cost of buying time: lessons from the thrift debacle  (PDF)
• FDICIA?s discount window provisions  (PDF)
• Federal credit and insurance programs: beyond the deficit diversion  (PDF)
• Integrating business and personal income taxes  (PDF)
• FDICIA’s Prompt Corrective Action Provisions  (PDF)
• Gilt by association: uncovering expected inflation  (PDF)
• Securitization: more than just a regulatory artifact  (PDF)
• Federal funds rate volatility  (PDF)
• The RTC and the escalating costs of the thrift insurance mess  (PDF)
• Public subsidies for private purposes  (PDF)
• Forecast Accuracy and Monetary Policy  (PDF)
• Oil, the economy, and monetary policy  (PDF)
• Minority-owned banks: history and trends  (PDF)
• The high-yield debt market: 1980-1990  (PDF)
• Does the Fed Cause Christmas?  (PDF)
• Setting the Discount Rate  (PDF)
• Rethinking the Regulatory Response to Risk-Taking in Banking  (PDF)
• Economic Principles and Deposit-Insurance Reform  (PDF)
• Is There a Message in the Yield Curve?  (PDF)
• Bank Lending to LBO’s: Risks and Supervisory Response  (PDF)
• The Bank Credit-Card Boom: Some Explanations and Consequences  (PDF)
• Bank Runs, Deposit Insurance, and Bank Regulation, Part II  (PDF)
• Bank Runs, Deposit Insurance, and Bank Regulation, Part I  (PDF)
• Local Thrift Competition and Bank Earnings  (PDF)
• FDIC Policies for Dealing with Failed and Troubled Institutions  (PDF)
• Interbank Exposure in the Fourth Federal Reserve District  (PDF)
• Ohio Banks: Hitting the Interstate Acquisition Road  (PDF)
• Debt-Deflation and Corporate Finance  (PDF)
• Loan-Quality Differences: Evidence from Ohio Banks  (PDF)
• The Changing Nature of Our Financial Structure: Where Are We Headed? Where Do We Want to Go?  (PDF)
• Competition and Bank Profitability: Recent Evidence  (PDF)
• Debt Growth and the Financial System  (PDF)
• Alternative Methods for Assessing Risk-Based Deposit Insurance Premiums  (PDF)
• Equity, Efficiency, and Mispriced Deposit Guarantees  (PDF)
• The Thrift Industry: Reconstruction in Progress  (PDF)
• Bank Holding Company Voluntary Nonbanking Asset Divestitures  (PDF)
• Bank Earnings: Comparing the Extremes  (PDF)
• Interstate Banking: Its Impact on Ohio Banks  (PDF)
• Federal Reserve?s Response to the Problems Experienced by ODGF Thrifts  (PDF)
• Deposit Rates and Local Markets  (PDF)
• A Problem of Seasonal Adjustment  (PDF)
• Rate Deregulation and Deposit Shifting  (PDF)
• Regional Interstate Banking  (PDF)
• Deregulation and Deposit Pricing  (PDF)
• Reorganizing the U.S. Banking Regulatory Structure  (PDF)
• Banking Without Interstate Barriers  (PDF)
• Closely Watched Banks  (PDF)
• Commercial Bank Holdings of Treasury Debt  (PDF)
• Banking and Commerce: To Mix or Not To Mix  (PDF)
• Geographic Banking Markets  (PDF)
• Loan Quality of Bank Holding Companies  (PDF)
• Anatomy of a Price-Fix  (PDF)
• Performance of Ohio?s Independent Banks  (PDF)
• Bank Holding Companies? Participation in Credit Insurance Underwriting  (PDF)
• Methods of Cash Management  (PDF)
• Financial Services and Small Businesses  (PDF)
• Savings and Loan Mergers in 1980  (PDF)
• Thrifts, Extended Credit, and Monetary Policy  (PDF)
• The Battle for NOWs  (PDF)
• Bank Expansion in Ohio  (PDF)
• Inflation, Interest Rates, and Monetary Growth  (PDF)
• Trends in Long-Term Commercial Bank Lending  (PDF)
• Consumer Lending and the Bankruptcy Reform Act of 1978  (PDF)
• How Should Banking Markets Be Delineated?  (PDF)
• Repricing Payments and Incentives for the Development of Electronic Funds Transfer  (PDF)
• Competition between Thrift Institutions and Banks In Ohio  (PDF)
• Interest-Rate Futures  (PDF)

Policy Discussion Papers

• A Conference on Liquidity in Frictional Markets  (PDF)
• Does Government Intervention in the Small-Firm Credit Market Help Economic Performance?  (PDF)
• On the Resolution of Financial Crises: The Swedish Experience  (PDF)
• Who Holds the Toxic Waste? An Investigation of CMO Holdings  (PDF)
• Some Lessons on the Rescue of Long-Term Capital Management  (PDF)
• 2006 Summer Workshop on Money, Banking, and Payments?An Overview  (PDF)
• The Economics of Payments  (PDF)
• Umbrella Supervision and the Role of the Central Bank  (PDF)
• Systemic Banking Crises  (PDF)

Working Papers

• Mortgage Companies and Regulatory Arbitrage  (PDF)
• Bank Balance Sheet Dynamics under a Regulatory Liquidity-Coverage-Ratio Constraint  (PDF)
• Substitution between Net and Gross Settlement Systems:A Concern for Financial Stability?  (PDF)
• Bank Mergers and Deposit Interest Rate Rigidity  (PDF)
• The Financial Stress Index: Identification of Systemic Risk Conditions  (PDF)
• SAFE: An Early Warning System for Systemic Banking Risk  (PDF)
• Public Policy in Support of Small Business: The American Experience  (PDF)
• Beyond the Transaction: Depository Institutions and Reduced Mortgage Default for Low-Income Homebuyers  (PDF)
• Banking Relationships and Sell-Side Research  (PDF)
• Prioritization in Private-Activity-Bond Volume Cap Allocation  (PDF)
• Caught Between Scylla and Charybdis? Regulating Bank Leverage When There is Rent Seeking and Risk Shifting  (PDF)
• The Importance of Financial Market Development on the Relationship between Loan Guarantees for SMEs and Local Market Employment Rates  (PDF)
• Liquidity and Asset Market Dynamics  (PDF)
• Cleaning up the Refuse from a Financial Crisis: The Case for a Resolution Management Corporation  (PDF)
• Interbank Tiering and Money Center Banks  (PDF)
• Private-Activity Municipal Bonds: The Political Economy of Volume Cap Allocation  (PDF)
• Lending Patterns in Poor Neighborhoods  (PDF)
• Systemic Risk Analysis Using Forward-Looking Distance-to-Default Series  (PDF)
• A Structural Model of Contingent Bank Capital  (PDF)
• Measuring Systemic Risk  (PDF)
• The Duration of Bank Retail Interest Rates  (PDF)
• Competition or Collaboration? The Reciprocity Effect in Loan Syndication  (PDF)
• Deposit Market Competition, Costs of Funding and Bank Risk  (PDF)
• A Monetary Approach to Asset Liquidity  (PDF)
• Information and Liquidity: A Discussion  (PDF)
• On the Threat of Counterfeiting  (PDF)
• Historical Review of ?Umbrella Supervision? by the Board of Governors of the Federal Reserve System  (PDF)
• Bank Mergers and the Dynamics of Deposit Interest Rates  (PDF)
• Liquidity in Asset Markets with Search Frictions  (PDF)
• The National Banking System: A Brief History  (PDF)
• The National Banking System: The National Bank Note Puzzle  (PDF)
• The National Banking System: Empirical Observations  (PDF)
• Counterfeiting as Private Money in Mechanism Design  (PDF)
• Incomplete Markets and Households’ Exposure to Interest Rate and Inflation Risk: Implications for the Monetary Policy Maker  (PDF)
• Crashes and Recoveries in Illiquid Markets  (PDF)
• Liquidity in Asset Markets with Search Frictions  (PDF)
• On Forecasting the Term Structure of Credit Spreads  (PDF)
• Harming Depositors and Helping Borrowers: The Disparate Impact of Bank Consolidation  (PDF)
• Limited Liability and the Development of Capital Markets  (PDF)
• On Government Intervention in the Small-Firm Credit Market and Its Effect on Economic Performance  (PDF)
• Search in Asset Markets: Market Structure, Liquidity, and Welfare  (PDF)
• Moral Hazard in the Diamond-Dybvig Model of Banking  (PDF)
• National Bank Notes and Silver Certificates  (PDF)
• Option Prices, Exchange Market Intervention, and the Higher Moment Expectations Channel: A User’s Guide  (PDF)
• Bank Branch Presence and Access to Credit in Low-to-Moderate Income Neighborhoods  (PDF)
• Co-Movement in Sticky Price Models with Durable Goods  (PDF)
• Small Firm Credit Market Discrimination, SBA-Guaranteed Lending, and Local Market Economic Performance  (PDF)
• Forecasting with the Yield Curve; Level, Slope, and Output 1875-1997  (PDF)
• Search in Asset Markets  (PDF)
• Gross Loan Flows  (PDF)
• The Return to Capital and the Business Cycle  (PDF)
• Small-Firm Credit Markets, SBA-Guaranteed Lending, and Economic Performance in Low-Income Areas  (PDF)
• U.S. Banking Deregulation and Self-Employment: Discrimination and Inequality  (PDF)
• Offer-Price Discount of Bank Seasoned Equity Offers: Do Voluntary and Involuntary Offers Convey Different Information?  (PDF)
• Recovering Market Expectations of FOMC Rate Changes with Options on Federal Funds Futures  (PDF)
• State-Dependent Pricing, Inflation, and Welfare in Search Econom  (PDF)
• Firm-Specifc Capital, Nominal Rigidities, and the Business Cycle  (PDF)
• Bank Seasoned Equity Offers: Do Voluntary and Involuntary Offers Differ?  (PDF)
• Asset Prices, Nominal Rigidities, and Monetary Policy  (PDF)
• The Business Cycle and the Life Cycle  (PDF)
• On SBA-Guaranteed Lending and Economic Growth  (PDF)
• The Yield Curve, Recessions, and the Credibility of the Monetary Regime:  (PDF)
• Capital Trading, Stock Trading, and the Inflation Tax on Equity: A Note  (PDF)
• Investment and Interest Rate Policy: A Discrete Time Analysis  (PDF)
• Inflation and Financial Market Performance: What Have We Learned in the Last Ten Years?  (PDF)
• Resolving the National Banking System Note-Issue Puzzle  (PDF)
• Government Intervention in the Foreign Exchange Market  (PDF)
• On Credit Spread Slopes and Predicting Bank Risk  (PDF)
• The Empirical Performance of Option-Based Densities of Foreign Exchange  (PDF)
• A Theory of Money and Banking  (PDF)
• Pricing Kernels, Inflation, and the Term Structure of Interest Rates  (PDF)
• Nearsighted Justice  (PDF)
• Monitoring and Controlling Bank Risk: Does Risky Debt Serve Any Purpose?  (PDF)
• Getting the most out of a mandatory subordinated debt requirement  (PDF)
• Imperfect capital markets and nominal wage rigidities  (PDF)
• The mismatch between life insurance holdings and financial vulnerabilities: evidence from the Survey of Consumer Finances  (PDF)
• A Strategic Approach to Hedging and Contracting  (PDF)
• Will the valuation ratios revert to their historical means? Some evidence from breakpoint tests  (PDF)
• Federal Home Loan Bank Lending to Community Banks. Are Targeted Subsidies Necessary?  (PDF)
• PSAF, economic capital, and the new Basel Accord  (PDF)
• Gross loan flows  (PDF)
• Anatomy of a Fair-Lending Exam: The Uses and Limitations of Statistics  (PDF)
• Currency Portfolios and Nominal Exchange Rates in a Dual Currency Search Economy  (PDF)
• Private Money Creation and the Suffolk Banking System  (PDF)
• Non-par banking: competition and monopoly in markets for payments services  (PDF)
• The Federal Reserve as an informed foreign-exchange trader  (PDF)
• Large shareholders and market discipline in a regulated industry: a clinical study of Mellon Bank  (PDF)
• Depositor Preference Legislation and Failed Banks’ Resolution Costs  (PDF)
• Absolute Priority Rule Violations, Credit Rationing, and Efficiency  (PDF)
• Securities Activities in Banking Conglomerates: Should their Location be Regulated?  (PDF)
• Credit Rationing, Bankruptcy Cost and the Optimal Debt Contract for Small Business  (PDF)
• Performance and asset management effects of bank acquisitions  (PDF)
• Monitored Finance, Liquidity, and Institutional Investment Choice  (PDF)
• Commercial Banks in the Securities Business: A Review  (PDF)
• Bank Deposit Rate Clustering: Theory and Empirical Evidence  (PDF)
• Some Monte Carlo results on nonparametric changepoint tests  (PDF)
• Bank Capital and Equity Investment Regulations  (PDF)
• A Note on Absolute Priority Rule Violations, Credit Rationing, and Efficiency  (PDF)
• Imperfect state verification and financial contracting  (PDF)
• Debt and Equity as Optimal Contracts  (PDF)
• Computable general-equilibrium models and monetary policy advice  (PDF)
• The changing role of banks and the changing value of deposit guarantees  (PDF)
• Underserved mortgage markets: evidence from HMDA data  (PDF)
• Posted rates as signals in mortgage lending markets  (PDF)
• Bank Diversification: Laws and Fallacies of Large Numbers  (PDF)
• Bankruptcy Rules and Debt Contracting: on the Relative Efficiency of Absolute Priority, Proportionate Priority, and First-Come, First-Served Rules  (PDF)
• Loan sales: Pacific Rim trade in nontradable assets  (PDF)
• Similarities and Dissimilarities in the Collapses of Three State Chartered Private Deposit Insurance Funds  (PDF)
• Anticipating Bailouts: the Incentive-Conflict Model and the Collapse of the Ohio Deposit Guarantee Fund  (PDF)
• Depositor Preference and the Cost of Capital for Insured Depository Institutions  (PDF)
• Underlying determinants of closed-bank resolution costs  (PDF)
• Loan sales as a response to market-based capital constraints  (PDF)
• Accounting For Racial Differences in Housing Credit Markets  (PDF)
• Lender consistency in housing credit markets  (PDF)
• Dynamic Optimal Fiscal and Monetary Policy in a Business Cycle Model with Income Redistribution  (PDF)
• Loan sales, implicit contracts, and bank structure  (PDF)
• Regulatory taxes, investment, and financing decisions for insured banks  (PDF)
• Sharing with a risk-neutral agent  (PDF)
• Cross-Lender Variation In Home Mortgage Lending  (PDF)
• Commitment As Irreversible Investment  (PDF)
• On Markovian Representations Of The Term Structure  (PDF)
• Capital Forbearance And Thrifts: An Ex Post Examination Of Regulatory Gambling  (PDF)
• The Gold Standard As A Rule  (PDF)
• Risk aversion, performance pay, and the principal-agent problem  (PDF)
• Troubled savings and loan institutions: voluntary restructuring under insolvency  (PDF)
• Optimal Bank Portfolio Choice Under Fixed-Rate Deposit Insurance  (PDF)
• On flexibility, capital structure, and investment decisions for the insured bank  (PDF)
• Principal-Agent Problems in Commercial-Bank Failure Decisions  (PDF)
• Risk-Based Capital and Deposit Insurance Reform  (PDF)
• An Insider’s View of the Political Economy of the Too-Big-to-Fail Doctrine  (PDF)
• Loan Commitments and Bank Risk Exposure  (PDF)
• The effect of subordinated debt and surety bonds on banks’ cost of capital and on the value of federal deposit insurance  (PDF)
• Sticky prices, money, and business fluctuations  (PDF)
• Optimal Financial Structure and Bank Capital Requirements: An Empirical Investigation  (PDF)
• Cross-Sectional Analysis of Public infrastructure and Regional Productivity Growth  (PDF)
• Failed Delivery and Daily Treasury Bill Returns  (PDF)
• The Determinants of Commercial Bank Holdings of Municipal Securities: 1985-1988  (PDF)
• An Analysis of Bank Failures: 1984 TO 1989  (PDF)
• Regime Changes in Stock Returns  (PDF)
• The Role of Banks in Influencing Regional Flows of Funds  (PDF)
• Portfolio Risks and Bank Asset Choice  (PDF)
• Pricing Daylight Overdrafts  (PDF)
• Financial Structure and the Adjustment of Capital Stock  (PDF)
• Testing for Speculative Bubbles in Stock Prices  (PDF)
• Capital Requirements and Optimal Bank Portfolios: a Reexamination  (PDF)
• Lessons of the Past and Prospects for the Future in Lender of Last Resort Theory  (PDF)
• Tobin’s Q, Investment, and the Endogenous Adjustment of Financial Structure  (PDF)
• Deposit Insurance and the Cost of Capital  (PDF)
• A Test of Two Views of the Regulatory Mechanism: Averch-Johnson and Joskow  (PDF)
• An Analysis of Causal Relations Among Inflation, Financial Structure, Tobin’s Q and Investment  (PDF)
• Estimating the Relationship Between Local Public and Private Investment  (PDF)
• Errors in Recorded Security Prices and the Turn-of-the Year Effect  (PDF)
• The Use of Market Information in Pricing Deposit Insurance  (PDF)
• Rival Stock Price Reactions to Large BHC Acquisition Announcements: Evidence of Linked Oligopoly  (PDF)
• The Default Premium and Corporate Bond Experience  (PDF)
• Holding Company Interest-Rate Sensitivity: before and after October 1979  (PDF)
• Velocity: A Multivariate Time-Series Approach  (PDF)
• Forecasting the Money Supply in Time Series Models  (PDF)
• Non-Nested Specification Tests and the Intermediate Target for Monetary Policy  (PDF)
• A Micro View of the Money Transactions Market  (PDF)
• Stability in a Model of Staggered-Reserve Accounting  (PDF)
• Multibank holding company organizational structure and performance  (PDF)

Other Publications

• Exchange-Traded Funds
• Conference on Capital Requirements for Financial Firms
• Sumit Agarwal (Chicago Fed)  (PDF)
• Jinhui Bai (Georgetown University)  (PDF)
• Enrique Martinez-Garcia (Dallas Fed)  (PDF)
• Yuliya Demyanyk (Federal Reserve Bank of Cleveland)  (PDF)
• Conference on Countercyclical Capital Requirements
• How Modern Land Banking Can Be Used to Solve REO Acquisition Problems  (PDF)
• Eugene White, Rutgers University  (PDF)
• Interview with Anil K. Kashyap  (PDF)
• President’s Message  (PDF)
• Spotting a Financial Crisis Before It Happens  (PDF)
• Video Clips: Interview with Anil K. Kashyap
• Andrea Pescatori (Federal Reserve Bank of Cleveland)  (PDF)
• Quick Exits of Subprime Mortgages  (PDF)
• Federal Funds Rate Projections
• Understand and Follow the Fed?s New Credit-Easing Tools with our Balance-Sheet Charts
• Understanding the subprime mortgage crisis  (396)
• JMCB Conference: Liquidity in Frictional Markets
• Umbrella Supervision and the Role of the Central Bank  (TML)
• Randy Wright, University of Pennsylvania
• Mei Dong, Simon Fraser University  (PDF)
• Did Credit Scores Predict the Subprime Crisis?  (PDF)
• Risk Sharing and Portfolio Allocation in EMU  (PDF)
• U.S. Banking Deregulation and Self-Employment: A Differential Impact on Those in Need  (TML)
• Rafael Silveira, University of Pennsylvania
• Identifying and Resolving Financial Crises
• Current Events in the Economy and Financial Markets
• President Pianalto Discusses Current Events in the Economy, Financial Markets
• Federal Reserve Board Statement
• Lutz Kilian, University of Michigan
• Subprime Crisis: Is there a Way Out?  (PDF)
• The Yield Curve as a Predictor of Growth: Long-Run Evidence, 1875-1997  (TML)
• Nicola Cetorelli, Federal Reserve Bank of New York
• Gadi Barlevy, Federal Reserve Bank of Chicago
• Gian Luca Clementi, Stern School of Business, New York University  (PDF)
• Roberto M. Billi, Kansas City Federal Reserve Bank  (PDF)
• Paul Shea, University of Kentucky  (PDF)
• Payday and Predatory Lending Seminar
• Nick Bloom, Stanford University  (PDF)
• 2007 Money, Banking, Payments, and Finance Conference
• Federal Reserve Launches Partnership for Progress
• Decoding messages from the yield curve
• Andrew Lo, MIT
• Banking deregulation helps small business owners stabilize their income  (PDF)
• Subprime ARMs: Popular Loans, Poor Performance  (TML)
• Nobu Kiyotaki, Princeton University
• U.S. Banking Deregulation, Small Businesses, and Interstate Insurance of Personal Income  (094)
• Alexei Deviatov, New Economy School
• System Committee on Business and Financial Conditions
• Income Inequality: Time for Predatory Lending Laws?  (TML)
• Banking and Commerce: The Next Steps
• Inflation, Inflation Expectations, and Monetary Policy
• Empirical Methods and Application for Dynamic Stochastic General Equilibrium Models
• Term Structure and Economic Activity
• Banking Consolidation and Competition
• The Origins and Evolution of Central Banking
• Controlling GSE Subsidies
• Regulation in Housing Finance
• Central Banking and Payments
• Rogerson-Wright NBER Small Group Conference
• Payday Lenders: Heroes or Villains?  (PDF)
• Predatory Lending in a Rational World  (PDF)

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