unit banking Archives

Banking Regulation, Booms & Busts, Economic History, Free Banking, Money & Politics, News, The Fed & Central Banks

The New Deal and Recovery, Part 5: The Banking Crisis

George Selgin/July 18, 2020March 28, 2023

Today, when we speak of ways to fight recessions, two options inevitably take pride of place: expansionary Fed policy (meaning lower interest rates or more asset purchases or both) and expansionary fiscal policy (more government spending or lower taxes or both). But if you've been keeping up…

Canadian Banking System, clearinghouses, Glass-Steagall, Unit Banking, intragroup funding

Banking Regulation, Financial Markets, Free Banking

Intragroup Funding: Don’t Build the Wall

Julien Noizet/April 28, 2017June 19, 2022

Three years ago, I wrote about the importance of intragroup funding, liquidity, and capital flows within a banking group composed of multiple entities , as is common nowadays. In short, I suggested that, based on the evidence, intragroup funding — or “internal capital markets,” as some academics refer to…

Economic History, The Fed & Central Banks

There Was No Place Like Canada

George Selgin/July 29, 2015June 19, 2022

Speaking of myths about U.S. banking, another that tops my list is the myth that the Federal Reserve, or some sort of central-bank-type arrangement, was the best conceivable solution to the ills of the pre-1914 U.S. monetary system. I encountered that myth most recently in reading America's…