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Bank security prices and market discipline

Authors
Disciplines
  • Economics

Abstract

Staff Study 172 Using Subordinated Debt as an Instrument of Market Discipline Study Group on Subordinated Notes and Debentures Federal Reserve System December 1999 Board of Governors of the Federal Reserve System The following list includes all the staff studies published since November 1995. Single copies are available free of charge from Publications Services, Board of Governors of the Federal Reserve System, Washington, DC 20551. To be added to the mailing list or to obtain a list of earlier staff studies, please contact Publications Services. 168. The Economics of the Private Equity Market, by George W. Fenn, Nellie Liang, and Stephen Prowse. November 1995. 69 pp. 169. Bank Mergers and Industrywide Structure, 1980–94, by Stephen A. Rhoades. January 1996. 29 pp. 170. The Cost of Implementing Consumer Financial Regula- tions: An Analysis of Experience with the Truth in Savings Act, by Gregory Elliehausen and Barbara R. Lowrey. December 1997. 17 pp. 171. The Cost of Bank Regulation: A Review of the Evidence, by Gregory Elliehausen. April 1998. 35 pp. 172. Using Subordinated Debt as an Instrument of Market Discipline, by Federal Reserve System Study Group on Subordinated Notes and Debentures. December 1999. 69 pp. The staff members of the Board of Governors of the Federal Reserve System and of the Federal Reserve Banks undertake studies that cover a wide range of economic and financial subjects. From time to time, the studies that are of general interest are published in the Staff Studies series and summarized in the Federal Reserve Bulletin. The following paper is summarized in the Bulletin for January 2000. The analyses and conclu- sions set forth are those of the authors and do not necessarily indicate concurrence by the Board of Governors, the Federal Reserve Banks, or members of their staffs. Contents Introduction .............................................................................................................................................. 1

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