|
|
Article: Statement to the Congress.(Federal Reserve's position on Savings Association Insurance Fund, deposit insurance)(Transcript)
- Article from:
- Federal Reserve Bulletin
- Article date:
- October 1, 1995
CopyrightCOPYRIGHT 1995 Board of Governors of the Federal Reserve System. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Statement by Alan Greenspan, Chairman, Board of Governors of the Federal Reserve System, before the Subcommittee on Financial Institutions and Consumer Credit of the Committee on Banking and Financial Services, US. House of Representatives, August 2, 1995
I am pleased to be able to appear here today to offer my thoughts on the status of the Savings Association Insurance Fund (SAIF) and on deposit insurance more generally.
The combination of deposit insurance and a central bank providing discount window credit has made the contagion of bank runs that often characterized the nineteenth century and the first third of the twentieth century an anachronism. The ...