Time for Banking Reform

Michael Cayton

Challenge, 2015, vol. 58, issue 3, 233-240

Abstract: Is there a way to make the financial system systemically more stable? This former OECD and Treasury economist thinks it can be done by making the Federal Reserve the holder of insured demand deposits, thus taking them out of the hands of the commercial banks, which can then make loans based on money they can attract on their merits. Let the market work, he suggests.

Date: 2015
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DOI: 10.1080/05775132.2015.1041838

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