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Creator: Boyd, John H. and Prescott, Edward C. Series: Working paper (Federal Reserve Bank of Minneapolis. Research Dept.) Number: 272 La description: "Financial intermediary-coalitions" (WP 272) replaces "Financial intermediaries" (WP 231) and "Father of financial intermediary-coalitions" (WP 250).
Mot-clé: Thrift institutions, Asset transformers, Financial intermediation, Commercial banks, Consumer finance companies, Private information, Core equilibrium, and Loan companies Assujettir: D82 - Information, knowledge, and uncertainty - Asymmetric and private information, G21 - Financial institutions and services - Banks ; Other depository institutions ; Micro finance institutions ; Mortgages, and D50 - General equilibrium and disequilibrium - General -
Creator: Boyd, John H. and Prescott, Edward C. Series: Working paper (Federal Reserve Bank of Minneapolis. Research Dept.) Number: 250 La description: "Financial intermediary-coalitions" (WP 272) replaces "Financial intermediaries" (WP 231) and "Father of financial intermediary-coalitions" (WP 250).
Mot-clé: Thrift institutions, Asset transformers, Financial intermediation, Commercial banks, Consumer finance companies, Private information, Core equilibrium, and Loan companies Assujettir: D82 - Information, knowledge, and uncertainty - Asymmetric and private information, G21 - Financial institutions and services - Banks ; Other depository institutions ; Micro finance institutions ; Mortgages, and D50 - General equilibrium and disequilibrium - General -
Creator: Boyd, John H. and Gertler, Mark. Series: Working paper (Federal Reserve Bank of Minneapolis. Research Dept.) Number: 531 Abstract: This paper reexamines the conventional wisdom that commercial banking is an industry in severe decline. We find that a careful reading of the evidence does not justify this conclusion. It is true that on-balance sheet assets held by commercial banks have declined as a share of total intermediary assets. But this measure overstates any drop in banking, for three reasons. First, it ignores the rapid growth in commercial banks' off-balance sheet activities. Second, it fails to take account of the substantial growth in off-shore C&I lending by foreign banks. Third, it ignores the fact that over the last several decades financial intermediation has grown rapidly relative to the rest of the economy. We find that after adjusting the measure of bank assets to account for these considerations there is no clear evidence of secular decline. To corroborate these findings, we also construct an alternative measure of the importance of banking, using data from the National Income Accounts. Again, we find no clear evidence of a sustained declined. At most the industry may have suffered a slight loss of market share over the last decade. But as we discuss, this loss may reflect a transitory response to a series of adverse shocks and the phasing in of new regulatory requirements, rather than the beginning of a permanent decline. Mot-clé: Bank assets, Commercial banks, Intermediation, Lending, and Banking Assujettir: G21 - Financial institutions and services - Banks ; Other depository institutions ; Micro finance institutions ; Mortgages -
Creator: Boyd, John H. and Gertler, Mark. Series: Working paper (Federal Reserve Bank of Minneapolis. Research Dept.) Number: 531 Abstract: This paper reexamines the conventional wisdom that commercial banking is an industry in severe decline. We find that a careful reading of the evidence does not justify this conclusion. It is true that on-balance sheet assets held by commercial banks have declined as a share of total intermediary assets. But this measure overstates any drop in banking, for three reasons. First, it ignores the rapid growth in commercial banks' off-balance sheet activities. Second, it fails to take account of the substantial growth in off-shore C&I lending by foreign banks. Third, it ignores the fact that over the last several decades financial intermediation has grown rapidly relative to the rest of the economy. We find that after adjusting the measure of bank assets to account for these considerations there is no clear evidence of secular decline. To corroborate these findings, we also construct an alternative measure of the importance of banking, using data from the National Income Accounts. Again, we find no clear evidence of a sustained declined. At most the industry may have suffered a slight loss of market share over the last decade. But as we discuss, this loss may reflect a transitory response to a series of adverse shocks and the phasing in of new regulatory requirements, rather than the beginning of a permanent decline. Mot-clé: Bank assets, Commercial banks, Intermediation, Lending, and Banking Assujettir: G21 - Financial institutions and services - Banks ; Other depository institutions ; Micro finance institutions ; Mortgages -
Creator: Girton, Lance W. and Turner, Thomas H. Series: Working paper (Federal Reserve Bank of Minneapolis. Research Dept.) Number: 106 Mot-clé: Commercial banks, Commercial banking, Money stock, Demand deposits, and Demand balances Assujettir: F32 - International finance - Current account adjustment ; Short-term capital movements, G21 - Financial institutions and services - Banks ; Other depository institutions ; Micro finance institutions ; Mortgages, and F33 - International finance - International monetary arrangements and institutions