Abstract
This paper describes the causes of the collapse of the Penn Square Bank in 1982, and the flow on effects to the US financial system - that is, it examines the systemic risk factors. The paper makes comparisons to the current US banking crisis, and in particular points out the similaritis between Penn Square and Indymac.
Original language | English |
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Title of host publication | 2009 Biennial Convention of the Institute of Actuaries of Australia |
Subtitle of host publication | Go for Gold |
Place of Publication | Sydney |
Publisher | Institute of Actuaries of Australia |
Number of pages | 59 |
Publication status | Published - 2009 |
Event | Convention of the Institute of Actuaries of Australia - Perth Duration: 19 Apr 2009 → 22 Apr 2009 |
Conference
Conference | Convention of the Institute of Actuaries of Australia |
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City | Perth |
Period | 19/04/09 → 22/04/09 |
Keywords
- systemic risk
- macroprudential regulation
- banking failure