Contemporary Financial Intermediation
This page intentionally left blank
Contemporary Financial
Intermediation
Second Edition
Stuart I. Greenbaum
Washington University in St. Louis
Anjan V. Thakor
Washington University in St. Louis
AMSTERDAM • BOSTON • HEIDELBERG • LONDON
NEW YORK • OXFORD • PARIS • SAN DIEGO
SAN FRANCISCO • SINGAPORE • SYDNEY • TOKYO
Academic Press is an imprint of Elsevier
Academic Press is an imprint of Elsevier
30 Corporate Drive, Suite 400, Burlington, MA 01803, USA
525 B Street, Suite 1900, San Diego, California 92101-4495, USA
84 Theobald’s Road, London WCIX 8RR, UK
This book is printed on acid-free paper.
Copyright 2007, Elsevier Inc. All rights reserved.
No part of this publication may be reproduced or transmitted in any form or by any means, electronic or
mechanical, including photocopy, recording, or any information storage and retrieval system, without
permission in writing from the publisher.
Permissions may be sought directly from Elsevier’s Science & Technology Rights Department in Oxford,
UK: phone: (+44) 1865 843830, fax: (+44) 1865 853333, E-mail: permissions@elsevier.com. You may also
complete your request on-line via the Elsevier homepage (http://elsevier.com), by selecting ‘‘Support &
Contact’’ then ‘‘Copyright and Permission’’ and then ‘‘Obtaining Permissions.’’
Library of Congress Cataloging-in-Publication Data
Greenbaum, Stuart I.
Contemporary Wnancial intermediation / Stuart I. Greenbaum, Anjan V. Thakor. – 2nd ed.
p. cm.
Originally published: Fort Worth : Dryden Press, 1995.
Includes bibliographical references and index.
1. Banks and banking–United States. 2. Financial services industry–United States. 3. Intermediation
(Finance). 4. Bank management. I. Thakor, Anjan V. II. Title.
HG2491.G727 2007
332.10973–dc22
2007000154
British Library Cataloguing-in-Publication Data
A catalogue record for this book is available from the British Library.
ISBN 13: 978-0-12-299053-3
ISBN 10: 0-12-299053-6
For information on all Academic Press publications
visit our Web site at www.book