This study investigates the direct link between regulatory enforcement actions and the shrinkage of bank loans to sectors likely to be bank dependent. We focus on New England because that region has experienced both the widespread application of formal regulatory actions and substantial...

This commentary reviews three of the major innovations suggested in Benston et al. (1986): movement toward greater risk-sensitive approaches, an enhanced role for market discipline and disclosure, and earlier intervention for troubled banks. The author then discusses environmental changes that...

Numerous conferences organized in the aftermath of the financial crisis of 1997-98 offered analyses of what went wrong in the crisis countries and prompted a number of reform proposals directed toward reducing the risk of future crises. However, now that the crisis has abated, reform appears to...

Locating the function of bank supervision in the central bank has been a contentious issue, both domestically and internationally. Most discussions of the role of bank supervision in central banking have focused on crisis management and the responsibilities of the central bank as a lender of...

A wave of depository institution failures and dramatic losses to deposit insurance funds occurred in the 1980s and continued into the 1990s. In response, the Congress passed a series of bank regulatory acts intended to address the problems that led to the crisis and prevent its recurrence. The...

This paper provides evidence that the Federal Reserve has an informational advantage over the public that can be exploited to improve activist monetary policy. The informational advantage derives from the Fed?s role as a bank supervisor, and it is shown to be of sufficient duration to be...

Presentation by Eric S. Rosengren, President and Chief Executive Officer, Federal Reserve Bank of Boston, for The Seoul International Financial Forum 2009, Seoul, Korea, April 15, 2009

Remarks by Eric S. Rosengren, President and Chief Executive Officer, Federal Reserve Bank of Boston, to the Financial Stability Institute, Bank for International Settlements, St. Petersburg, Russia, May 24, 2011