MARC Record from Library of Congress

LEADER: 01831cam a22003137a 4500
001 2005617041
003 DLC
005 20050309170049.0
007 cr |||||||||||
008 050303s2003 nyu sb f000 0 eng
010 $a 2005617041
040 $aDLC$cDLC
050 00 $aHB1
100 1 $aAshcraft, Adam B.
245 10 $aAre banks really special?$h[electronic resource]$bnew evidence from the FDIC-induced failure of healthy banks /$cAdam B. Ashcraft.
260 $a[New York, N.Y.] :$bFederal Reserve Bank of New York,$c[2003]
490 1 $aStaff reports ;$vno. 176
538 $aSystem requirements: Adobe Acrobat Reader.
538 $aMode of access: World Wide Web.
500 $aTitle from PDF file as viewed on 3/3/2005.
530 $aAlso available in print.
504 $aIncludes bibliographical references.
520 3 $a"The FDIC used cross-guarantees to close thirty-eight subsidiaries of First RepublicBank Corporation in 1988 and eighteen subsidiaries of First City Bancorporation in 1992 when lead banks from each of these Texas-based bank holding companies were declared insolvent. I use this exogenous failure of otherwise healthy subsidiary banks as a natural experiment for studying the impact of bank failure on local-area real economic activity. I find that the closings of the subsidiaries were associated with a significant decline in bank lending that led to a permanent reduction in real county income of about 3 percent"--Federal Reserve Bank of New York web site.
650 0 $aBank failures$zTexas.
610 20 $aFirst Republicbank of Texas.
610 20 $aFirst City Bancorporation of Texas.
710 2 $aFederal Reserve Bank of New York.
830 0 $aStaff reports (Federal Reserve Bank of New York : Online) ;$vno. 176.
856 40 $uhttp://www.ny.frb.org/research/staff_reports/sr176.html