Minneapolis Fed Research on TBTF

The Federal Reserve Bank of Minneapolis: Decades of Depth in Too Big to Fail

Well before the Great Recession of 2008, leading economists and policy experts at the Federal Reserve Bank of Minneapolis paved the way in exploring the issue of TBTF. Former Bank President Gary Stern and current Executive Vice President and Senior Policy Advisor Ron Feldman were pioneers in publishing on the hazards of bank bailouts. Since the most recent bailouts of the Great Recession, Stern and Feldman continue to be TBTF thought-leaders.

Below is a sampling of critical publications authored by scholars from the Minneapolis Fed on this important topic.

Economic Policy Papers

Too Big to Fail: The Hazards of Bank Bailouts

The book, published in 2004 by Brookings Institution Press and authored by Gary Stern and Ron Feldman, warns that not enough has been done to reduce creditors' expectations of TBTF protection.

Too Correlated to Fail

July 22, 2014

The “Banks” We Do Need

January 7, 2013

Speeches

Lessons from the Crisis: Ending Too Big to Fail

Neel Kashkari at the Brookings Institution in Washington, D.C., February 16, 2016.

Neel Kashkari at the 47th Annual Conference on Bank Structure and Competition

Speech from May 6, 2011 at the Federal Reserve Bank of Chicago. At this time in 2011, Kashkari was a Managing Director at PIMCO.

Addressing the Too Big to Fail Problem

Gary Stern testimony before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate, Washington D.C., May 6, 2009

Better Late Than Never: Addressing Too-Big-To-Fail

Gary Stern, Washington D.C., March 31, 2009

Banking Policies and Too Big To Fail

Gary Stern, Minneapolis, Minnesota, March 26, 2009

Prospects for Macro- and Financial Policy

Gary Stern, St. Paul, Minnesota, February 5, 2009

Prospects for Macro- and Financial Policy

Gary Stern, Cedar Rapids, Iowa, January 14, 2009

Too Big to Fail: The Way Forward

Gary Stern, November 13, 2008

Limiting Spillovers Through Focused Supervision

From The Region, September 2008

Repercussions from the Financial Shock

Gary Stern, August 14, 2008

Moral Hazard and Bank Protection

Gary Stern, July 23, 2001

Publications

Message from the President

Gary Stern introducing the 2007 Annual Report Essay

Managing the Expanded Safety Net

2007 Annual Report Essay

Perspectives on Current Banking Issues

The Region, September 2006

A Response to Critics of Market Discipline

The Region, September 1999

Deposit Insurance: A Reconsideration

Working Paper Number 593, December 1998

Market Discipline as Bank Regulator

The Region, June 1998

The Too Big to Fail Problem

The Region, September 1997

The S&L Crisis: Bad People or Bad Policy?

fedgazette, September 1990