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Capital Forbearance Add to the Tab for the FSLIC Mess?" Pa-
per presented at Conference on Bank Structure and Competi-
tion, Federal Reserve Bank of Chicago, 1994; Kaufman, "The
U.S. Banking Debacle of the 1980s"; and Kroszner and Stra-
han, "Regulatory Incentives and the Thrift Crisis."
19. Ibid.
20. See George Benston and George Kaufman, Risk and Solvency
Regulation of Depositor Institutions: Past Policies and Cur-
rent Options (New York: Salomon Brothers Center, Graduate
School of Business, New York University, 1988); and Kroszner
and Strahan, "Regulatory Incentives and the Thrift Crisis."
21. See Benston and Kaufman, Risk and Solvency Regulation of
Depositor Institutions; Kaufman, "The U.S. Banking Debacle
of the 1980s"; Kaufman, "Bank Fragility"; and Kroszner and
Strahan, "Regulatory Incentives and the Thrift Crisis."
22. This section draws on Randall S. Kroszner, "Testimony
before the Committee on Banking and Financial Services, U.S.
House of Representatives," April 29, 1998.
23. See Allen Berger, Anil Kashyap, and Joseph Scalise, "The
Transformation of the U.S. Banking Industry: What a Long,
Strange Trip It's Been," Brookings Papers on Economic Activ-
ity 2 (1995): 55-218.
24. See, for instance, B. Frank King, "Upstate New York:
Tough Markets for City Banks," Federal Reserve Bank of At-
lanta Economic Review, June-July 1985; see also David Holds-
worth, "Is Consolidation Compatible with Competition? The
New York and New Jersey Experience," Federal Reserve Bank of
New York, Research Paper no. 9306, May 1993.
25. See ibid.
26. Board of Governors of the Federal Reserve System, "An-
nual Report to Congress on Retail Fees and Services of De-
pository Institutions," June 1997.
27. See Timothy Hannan, "Bank Fees and Their Variation
across Banks and Locations," Federal Reserve Board, December
1996.
28. See Randall Kroszner and Philip Strahan, "What Drives
Deregulation? Economics and Politics of the Relaxation of
Bank Branching Restrictions," Quarterly Journal of Econom-
ics, forthcoming.
29. See Robert Avery, Raphael Bostic, Paul Calem, and Glenn
Canner, "Consolidation and Depositor Services," Federal Re-