The Changing Market in Financial Services

Proceedings of the Fifteenth Annual Economic Policy Conference of the Federal Reserve Bank of St. Louis.

  • R. Alton Gilbert

Table of contents

  1. Front Matter
    Pages i-xii
  2. I

    1. Front Matter
      Pages 1-1
    2. Gary Gorton, George G. Pennacchi
      Pages 3-38
  3. II

    1. Front Matter
      Pages 39-39
    2. Gerald A. Hanweck
      Pages 41-98
    3. J. Nellie Liang, James M. O’Brien
      Pages 129-158
  4. III

    1. Front Matter
      Pages 159-159
    2. Robert Nachtmann, Frederick J. Phillips-Patrick
      Pages 211-245

About this book


The articles and commentaries included in this volume were presented at the Federal Reserve Bank of St. Louis' fifteenth annual economic policy conference.
The conference focused on the effects of a variety of recent changes in the market for financial services in the United States. This market has been changing rapidly in recent years: business loans have become more liquid, as the market for loan sales grows. Banks have been permitted to participate in a limited form of interstate banking. Commercial banks have been given permission to offer additional underwriting services. The market for residential mortgage credit has been transformed, through securitization and the declining role of savings and loan associations. Foreign financial firms have taken a rising share of the market financial services.
The papers in this volume describe these changes and examine implications for financial institutions and their customers.


Bank banking economic policy

Editors and affiliations

  • R. Alton Gilbert
    • 1
  1. 1.The Federal Reserve Bank of St. LouisUSA

Bibliographic information