2. The New York Clearing House Association

Chapters in this book

1. Frontmatter i
2. Contents v
3. Preface vii
4. 1. Fighting Financial Crises: Learning from the Past 1
5. 2. The New York Clearing House Association 12
6. 3. The Start of a Panic 26
7. 4. What the New York Clearing House Did during National Banking Era Panics 37
8. 5. Information Production and Suppression and Emergency Liquidity 57
9. 6. “Too Big to Fail” before the Fed 72
10. 7. Certified Checks and the Currency Premium 87
11. 8. The Change in Depositors’ Beliefs during Suspension 103
12. 9. Aftermath 125
13. 10. What Ends a Financial Crisis? Historical Reminders 130
14. 11. Modern Crises: Perspectives from History 141
15. 12. Guiding Principles for Fighting Crises 169
16. Appendixes 189
17. Notes 211
18. References 219
19. Index 231