support depend on the bank’s risk profile can be effective in improving the bank’s incentives to make the desired risk choice …

problems associated with transitory liquidity outflows, even absent any change in a bank's value. Our premise is that the scope …

chapter yields new insight about the effect of bank ownership on the limits of borrowing during a financial crisis. …

In autumn of 2007 Britain experienced its first bank run of any significance since the reign of Queen Victoria. The run … was on a bank called Northern Rock. This was extraordinary, for Britain had been free of such episodes because by early in … the third quarter of the 19th century the Bank of England had developed techniques to prevent them. A second extraordinary …

-best outcome. A compulsory scheme (such as a central bank that can impose a reserve requirement on banks) has an advantage over …

of traditional commercial bank functions to the extent that we are actually entering upon something that is new in a … competitive situation. This has accentuated the role of the central bank as a payments service provider to the banks and … particularly as an overseer of payment systems. The central bank's role as payment systems overseer is likely to receive even …