Does deposit insurance increase banking system stability?
Explicit deposit insurance tends to be detrimental to bank stability-- the more so where bank interest rates are deregulated and the institutional environment is weak.
"Explicit deposit insurance tends to be detrimental to bank stability-- the more so where bank interest rates are deregulated and the institutional environment is weak."@en
"The first formal system of national bank deposit insurance was established in the United States in 1934 with the purpose of preventing the extensive bank runs that contributed to the Great Depression. Other countries, even those where bank distress had accompanied the depression, did not follow this lead, and it was not until the Post-War period that deposit insurance began to spread outside of the United States (Table 1). The 1980's saw an acceleration in the diffusion of deposit insurance, with most OECD countries and an increasing number of developing countries adopting some form of explicit depositor protection. In 1994, deposit insurance became the standard for the newly created single banking market of the European Union.2 More recently, the IMF has endorsed a limited form of deposit insurance in its code of best practices (Folkerts-Landau and Lindgren (1997))."
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The World Bank. Development Research Group. Finance and International Monetary Fund
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