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Local news from StateCollege.com and Centre County Partners. Read about Local Historia: The Walter L. Main Circus Train Wreck Tragedy and more from the State College, PA region ....
Financial crises have plagued economies worldwide for decades and have been the subject of much analysis, partly in the hopes of averting their devastating effects in the future. What are the four main types of financial crises, and what have we learned so far about what contributes to their creation and the measures taken to combat them? ....
Nationwide run on the banks when he got inaugurated this was in the middle of of the great depression, of course, 1933 and during the term of the previous president, republican herbert hoover, who had a disastrous presidency. during hoover s time in office there d been a series of banking panics, people making runs on banks. it happened in specific parts of the country in 1930 and 1931 but in 1932 there was a really big surge in bank failures in both the west and midwest and there started to be a national panic. in 1932 when that national panic was taking hold, individual states started declaring bank holidays nevada was the first one who did it, but then other states including michigan followed suit individual states started declaring holidays they started declaring all banks would be closed on specific days ....
<p><span>In my first speech as Vice Chair for Supervision in September, I said that the Federal Reserve Board would soon engage in a holistic review of capital standards. My argument, then and now, is that our review of regulatory policy must be a periodic feature of bank oversight. Banking and the financial system continuously evolve, and regulation must adapt to address emerging risks. Bank capital is strong, but in doing our review, we should and are being humble about our ability—or that of bank managers—to predict how a future financial crisis might unfold, how losses might be incurred, and what the effect might be on the financial system and our broader economy. That humility, that skepticism, will serve us well in crafting a capital framework that is enduring and effective. It will help make sure that we do not lose the hard-fought gains in resilience over the past decade and that we prepare for the future.</span></p> ....