The March 2023 Bank Interventions in Long-Run Context - Silicon Valley Bank and beyond / Andrew Metrick, Paul Schmelzing.

Format:

Book

Author/Creator:

Metrick, Andrew.

Contributor:

National Bureau of Economic Research.

Schmelzing, Paul.

Series:

Working Paper Series (National Bureau of Economic Research) no. w31066.

NBER working paper series no. w31066

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2023.

Summary:

U.S. and European banking institutions were hit by a wave of distress in March 2023. Policymakers on both sides of the Atlantic reacted with an array of interventions, some targeting individual institutions, others designed to shore up the banking sector as a whole. This paper contextualizes events using a new long-run database on banking-sector policy interventions over the last eight centuries. On that basis, recent actions have already been unusual in their policy mix and size - in the database, the vast majority of events with the same pattern of interventions ultimately evolved into "systemic" bank-distress episodes.

Notes:

Print version record

March 2023.