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The Evolution of Banks and Financial Intermediation ...
Nicola Cetorelli, Benjamin H. Mandel, and Lindsay Mollineaux The Evolution of Banks and Financial Intermediation : Framing the analysis 1. Introduction Intermediation failure that did not necessarily, or at least not directly, result from bank failures. To be sure, many Banks did W hile the term the Great Recession has been loosely applied to almost every economic downturn in the past twenty years, the crisis of 2007-09 has more than most indeed fail during the crisis and many more were left with impaired operations outcomes that certainly exacerbated the scale and scope of the crisis. Nevertheless, major disruptions recessions lived up to that The crisis has been felt occurred among segments of Financial Intermediation activity across virtually all economic sectors and in all parts of the that had in recent years been growing rapidly and that did not world.
FRBNY Economic Policy Review / July 2012 1 The Evolution of Banks and Financial Intermediation: Framing the Analysis 1.Introduction hile the term “the Great Recession” has been loosely
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