Eroding Market Imperfection: Implications for Financial Intermediaries, the Payments System, and Regulatory Reform

doi:10.4324/9781315703671-91

Chapter

Eroding Market Imperfection: Implications for Financial Intermediaries, the Payments System, and Regulatory Reform

ABSTRACT

Excerpted from Restructuring the Financial System (Federal Reserve Bank of Kansas City, August 1987), pp. 28–30. Robert A. Eisenbeis is Wachovia professor of banking at the University of North Carolina at Chapel Hill.