CURBING THE MONEY MULTIPLIER: CAPITAL REQUIREMENTS VERSUS NARROW BANKING

Aldo Barba

Contributions to Political Economy, 2018, vol. 37, issue 1, 16-24

Abstract: This article discusses financial regulation proposals based on capital and liquidity requirements and those that instead suggest a 100% reserve on bank deposits. The topic is developed by comparing the position of Alan Greenspan, a resolute supporter of capital requirements as the main regulator of the financial sector, with that of Mervyn King, who has recently proposed a sort of ‘moderate narrowness’ in banking as a solution.

Date: 2018
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