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- Title
FINANCIAL REGULATION AS A CONTROL SYSTEM PROBLEM: THE CASE OF THE SAVINGS & LOAN INDUSTRY.
- Authors
Balderston, F. E.
- Abstract
Operations and regulation of the savings and loan industry are evaluated in terms of four subsystems (1) market structure, in which the market environment and the policies of the individual firm are important determinants, but in which the regulatory authorities have licensing power with respect to the number of firms and branch offices; (2) transactions, which divides into transactions in the capital inflow, or savings, market, and in the capital placement, or lending, market; (3) liquidity, in which the firms cash flows and liquidity requirements are augmented by the Federal Home Loan Bank system; and (4) safety, in which the strength of the housing market, the portfolio and reserve position of the individual institution, and insurance of accounts by the FSLIC are determining factors. The paper discusses the interplay between environment, executive decision and regulatory influence in each of these subsystems and also points to interactions between the subsystems.
- Subjects
SAVINGS &; loan associations; SAVINGS &; loan association laws; LIQUIDITY (Economics); BANKING industry; FINANCIAL institutions; LOANS; FEDERAL home loan banks; FEDERAL Savings &; Loan Insurance Corp.; HOUSING market; CASH flow; CORPORATE finance; CASH management; MANAGEMENT
- Publication
Management Science, 1966, Vol 12, Issue 10, pB-417
- ISSN
0025-1909
- Publication type
Article
- DOI
10.1287/mnsc.12.10.B417