منابع مشابه
Bank capital, liquid reserves, and insolvency risk∗
We develop a dynamic model to assess the effects of liquidity and leverage requirements on banks’ insolvency risk. The model features endogenous capital structure, liquid asset holdings, payout, and default decisions. In the model, banks face taxation, flotation costs of securities, and default costs. They are financed with equity, insured deposits, and risky debt. Using the model, we show that...
متن کاملRetail Sweep Programs and Bank Reserves , 1994 - 1999
In January 1994, the Federal Reserve Board permitted a commercial bank to begin using a new type of computer software that dynamically reclassifies balances in its customer accounts from transaction deposits to a type of personal-saving deposit, the money market deposit account (MMDA).1 This reclassification reduces the bank’s statutory required reserves while leaving unchanged its customers’ p...
متن کاملappendix to : Bank capital , liquid reserves , and insolvency risk ∗
A The auxiliary problem 1 A.1. Notation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 A.2. Immediate liquidation . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 A.3. Value of a barrier strategy . . . . . . . . . . . . . . . . . . . . . . . . . . 3 A.4. The optimal barrier . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 A.5. Verification . . . . ...
متن کاملSupplementary appendix to : Bank capital , liquid reserves , and insolvency risk
A The auxiliary problem 1 A.1 Notation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 A.2 Immediate liquidation . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 A.3 Value of a barrier strategy . . . . . . . . . . . . . . . . . . . . . . . . . . 3 A.4 The optimal barrier . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 A.5 Verification . . . . . . ....
متن کاملRetail Sweep Programs and Bank Reserves , 1994 - - 1999 Richard
Since January 1994, the Federal Reserve Board has permitted depository institutions in the United States to implement so-called retail sweep programs. The essence of these programs is computer software that dynamically reclassifies customer deposits between transaction accounts, which are subject to statutory reserve requirement ratios as high as 10 percent, and money market deposit accounts, w...
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ژورنال
عنوان ژورنال: The Economic Journal
سال: 1917
ISSN: 0013-0133
DOI: 10.2307/2222312