, ; ; ; "ActiveFedora::Aggregation::ListSource" . a , ; "Are Banks Dead? Or Are the Reports Greatly Exaggerated?"; ; "jannelle.ruswick@mpls.frb.org"; "Boyd, John H.", "Gertler, Mark"; "Federal Reserve Bank of Minneapolis"; "This article reexamines the conventional wisdom that commercial banking is in severe decline. A careful reading of the evidence does not support it. True, on-balance sheet assets held by commercial banks have declined as a share of total intermediary assets. But this measure ignores the substantial growth in banks' off-balance sheet activities, in off-shore lending by foreign banks, and in the size of the financial intermediation sector. Adjusted for these considerations, the bank-assets measure shows no clear evidence of secular decline. Neither does an alternative measure, constructed using data from the national income accounts. At most, banking may have suffered a slight loss of market share lately. But this loss is a temporary response to a series of adverse shocks rather than the start of a permanent decline."^^; "1994 Summer"; "2019-12-11T16:26:57.326976532+00:00"^^; "https://doi.org/10.21034/qr.1831"; ; "2020-04-03T21:50:25.360784751+00:00"^^; "Article"; "96", "265"; "Quarterly review (Federal Reserve Bank of Minneapolis. Research Department)"; "Vol. 18, No. 3"; ; ; ; ; "Federal Reserve Bank of Minneapolis. Research Department"; "Related paper: [Working Paper 531](https://doi.org/10.21034/wp.531)"^^; ; "Publication" . ; ; . ; ; .