Modernizing Banking Regulation

Modernizing device regulation.

Private Liquidity and Banking Regulation

We show that the regulation of bank lending practices is necessary for the optimal provision of private liquidity. In an environment in which bankers cannot commit to repay their creditors, we show that neither an unregulated banking system nor narrow banking can provide the socially e¢ cient amount of liquidity. If the bankers provided such an amount, then they would prefer to default on their...

Private Money and Banking Regulation ⇤

We show that the regulation of lending practices is desirable for the optimal provision of private money. In an environment in which bankers cannot commit to repay their creditors, neither an unregulated banking system nor a form of narrow banking in which banks hold 100% in reserves can provide the socially efficient amount of money. If bankers provided such an amount, then they would prefer t...

New Issues in Banking Regulation

Khartabil provided exceptional research assistance. The views expressed in the paper are those of the author and do not necessarily reflect the opinions of the International Monetary Fund.

Modernizing WAAS

The Wide Area Augmentation System (WAAS) became operational on July 10, 2003. Currently this system provides en-route through non-precision approach guidance. Further, the signals are capable of providing vertical guidance to bring an aircraft within 250 feet of the ground. WAAS offers significant benefit to both aviation and non-aviation users. However, the vertical guidance availability is vu...