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Journal Article
Stabilization policies and employment
Journal Article
Income and expenses of Eighth District member banks
Journal Article
Regional patterns in the quality of bank assets
Journal Article
Effectiveness of state reserve requirements
Journal Article
Has the quality of bank loans deteriorated?
Working Paper
Can feedback from the jumbo-CD market improve bank surveillance?
We examine the value of jumbo certificate-of-deposit (CD) signals in bank surveillance. To do so, we first construct proxies for default premiums and deposit runoffs and then rank banks based on these risk proxies. Next, we rank banks based on the output of a logit model typical of the econometric models used in off-site surveillance. Finally, we compare jumbo-CD rankings and surveillance-model rankings as tools for predicting financial distress. Our comparisons include eight out-of-sample test windows during the 1990s. We find that rankings obtained from jumbo-CD data would not have improved ...