Remarks by Eric S. Rosengren, President and Chief Executive Officer, Federal Reserve Bank of Boston, and Joe Peek, Vice President, Federal Reserve Bank of Boston, to the International Banking, Economics, and Finance Association and American Economic Association, Boston, Massachusetts, January 3,...

The transmission of monetary policy, especially in light of recent events, has received increased attention, especially with respect to the efficacy of the bank lending channel. This paper summarizes the issues associated with isolating the bank lending channel and determining the extent to...

Bank consolidation has been going on for more than a decade, in part the result of legislative and regulatory changes and in part a reflection of the large number of banks that became financially troubled in the late 1980s and early 1990s. However, the rapid consolidation of institutions still...

One of the more dramatic financial events of the late 1980s and early 1990s was the surge in Japanese stock prices that was immediately followed by a very sharp decline of more than 50 percent. While the unprecedented fluctuations in Japanese stock prices were domestic financial shocks, the...

Derivatives have become an essential instrument for hedging risks, yet moral hazard can lead to their misuse by problem banks. Given that the absence of comprehensive data on bank derivatives activities prevents an accurate assessment of bank risk-taking, banks have an opportunity to take...