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SUMMARY:What caused Chicago bank failures in the Great Depression? A look 
 at the 1920s - Dr Natacha Postel-Vinay\, University of Warwick
DTSTART:20150119T170000Z
DTEND:20150119T183000Z
UID:TALK55499@talks.cam.ac.uk
CONTACT:Dr Duncan Needham
DESCRIPTION:This paper reassesses the causes of Chicago bank failures duri
 ng the Great Depression by tracking the evolution of their balance sheets 
 in the 1920s. I find that all Chicago banks suffered tremendous deposit wi
 thdrawals\; however banks that failed earlier in the 1930s had invested mo
 re in mortgages in the 1920s. The main problem with mortgages was their la
 ck of liquidity\, not their quality. Banks heavily engaged in mortgages di
 d not have enough liquid assets to face the withdrawals and failed. This p
 aper thus reasserts the importance of pre-crisis liquidity risk management
  in preventing bank failures.
LOCATION:Darwin College (Seminar Room\, No. 1 Newnham Terrace - entrance v
 ia Porters Lodge on Silver St)
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