EUI Working Paper: SPSEuropean University Institute, 1996 - Europe |
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Page 23
... depositors by calling on all its debtors . The solvency of " A " , thus , is not affected by changes in the business cycle . " B " ' s solvency , in contrast , is affected by the business cycle . When the economy is booming and the ...
... depositors by calling on all its debtors . The solvency of " A " , thus , is not affected by changes in the business cycle . " B " ' s solvency , in contrast , is affected by the business cycle . When the economy is booming and the ...
Page 24
... depositors could not but suspect that mixed banks were placing the interests of the industries in which bank directors had vested interests above those of the banks ' depositors . Universal banking was therefore unstable . The ...
... depositors could not but suspect that mixed banks were placing the interests of the industries in which bank directors had vested interests above those of the banks ' depositors . Universal banking was therefore unstable . The ...
Page 25
... depositors ' runs , since they had no depositors outside a small network of reliable clients ; while deposit banks were not subject to runs either , because most of their assets were kept in cash , rediscountable paper , government ...
... depositors ' runs , since they had no depositors outside a small network of reliable clients ; while deposit banks were not subject to runs either , because most of their assets were kept in cash , rediscountable paper , government ...
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adopt central banking agrarian periphery Arpád SZAKOLCZAI assets Australia Austria Austria-Hungary Banca Commerciale Italiana Banco Bank of England bank's banking structures banking system Banque Belgium Bouvier Britain business cycle Canada capital and reserves capital scarcity central bank Chlepner commercial banks competition corporatism corporatist corporatist regimes countries Crédit Lyonnais Crédit Mobilier Denmark denominator includes deposit banking deposit market depositors Dépôts Development discount Economic History equity equity-liability ratio European University Institute finance fiscal-military model France function Germany Gerschenkron Giandomenico MAJONE GNP per capita Goodhart groups information asymmetry insolvency investment banks Italy joint stock banks last resort lending of last liabilities liquidity guarantee market fragmentation mixed banking moderate corporatism National Monetary Commission Netherlands nonprofit banking nonprofit sector Norway note-issuing monopoly Oxford University Press paper percent pluralist Policy private bankers profit proxy rediscount Reichsbank rents representation savings banks Social Société Générale solvency specialized banking Sweden Teichova territorial Tortella universal banking