Deregulation, Correspondent Banking, and the Role of the Federal Reserve
Abstract:
The Federal Reserve would tend to gain market share from private corresponsant banks. Deregulation of restrictions on the formation of multibank holding companies, in contrast, allowed other correspondents to enter, increasing competition. The A. tests these hipotheses using panel data set of respondent account balances. He finds that the Federal Reserve became a more important supplier of correspondent services following branching deregulation and that market power in the corresponden ...; [read all]
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| Description | Deregulation, Correspondent Banking, and the Role of the Federal Reserve/ McAndrews, James J. |
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Sta in: Journal of Financial Intermediation n. 3, July 2002 (Vol. 11), pp. 320-343
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| ID file | 53738 |