João Cabral dos Santos

This paper looks at the advantages and disadvantages of mixing banking and commerce, using the "liquidity" approach financial intermediation.

The idea that banks exist to reduce the costs of monitoring is central to modern theories of financial intermediation.

This paper reviews the arguments as to whether the location of the securities unit in a banking conglomerate should be subject to regulation.

This paper studies the effects of acquisitions on both acquired and acquiring banks.

This paper analyzes the potential effects of commercial banks’ expansion into the securities business, taking into account the underlying conditions assumed by the modern literature to explain the existence of financial intermediaries.

This paper uses an intermediation model to study the efficiency and welfare implications of both banks’ required capital-asset ratio and the regulation that limits.

The model presented in this paper is a particular case of the principal-agent problem.

Lord Byron once wrote that “ready money is Aladdin’s lamp.” And who can deny that liquidity—having enough ready cash to pay your debts when they come due—is a good thing?

Congress, the Administration, and the bank regulatory agencies are considering various proposals to usher the U.S. banking system into the twenty-first century.