Regulatory Solutions to Payment System Risks: Lessons from Privately Negotiated Derivatives

  • David L. Mengle
Part of the Financial and Monetary Policy Studies book series (FMPS, volume 30)


Payment system risks were the “major minor” banking policy issue of the 1980s. They were minor issues in that they were of interest mainly to the Federal Reserve System and to bank operations officers; they were major issues in that they supposedly involved significant risks and that they were a source of constant regulatory pressure on banks.


Central Bank Moral Hazard Credit Risk Federal Reserve Payment System 
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Copyright information

© Springer Science+Business Media New York 1995

Authors and Affiliations

  • David L. Mengle
    • 1
  1. 1.J.P. Morgan & Co. Inc.New YorkUSA

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