Entry barriers and evolution of banking systems: Lessons from the 1980s Canadian western bank failures

Abstract: As federal policy‐makers revise and update the Bank Act, any change should be seen in the context of public policy towards financial institutions in Canada. Rather than being condemned to repeat history, both policy‐makers and potential bank entrepreneurs would be well advised to re‐examine the Report of the Inquiry into the Collapse of the ccb and Northland Bank (August 1986), chaired by the Honourable Willard Z. Estey. Public policy for financial institutions faces the challenge of reconciling competing interests. Since 1867, Canada has experienced a nationally controlled banking system that is highly stable (i.e., few bankruptcies) and that has enabled in‐flows of capital needed for national economic development. The Canadian Commercial Bank failure raised a fundamental challenge to the government's policy agenda. When asked what the government's position should be, the three officials recommended the rescue package. All three participants from the political side advised against it. Future policy must learn the lessons from this important and atypical moment in Canadian financial history. Sommaire: Alors que les decisionnaires federaux revoient et mettent à jour la Loi sur les banques, toute modification devrait être envisagée dans le contexte de la politique gouvernementale visant les institutions financières au Canada. Plutôt que d'être condamnés à répéter les mêmes erreurs, les décisionnaires et les banquiers potentiels feraient bien mieux de réexaminer le Rapport de la commission d'enquête sur la faillite de la Banque commerciale du Canada et la Norbanque (août 1986), présidée par l'honorable Willard Z. Estey. La politique gouvernementale concernant les institutions financières a la tâche difficile de réconcilier des intérêts opposés. Depuis 1867, le Canada connaît un système bancaire contrôléà l'échelle nationale qui est très stable, ayant enregistré peu de faillites, et qui a permis des rentrées de fonds nécessaires au développement économique national. La faillite de la BCC a lancé un défi fonda mental au programme de politique gouvernementale. Lorsqu'on leur a demandé quelle devrait être la position du gouvernement, les trois responsables ont recommandé le programme de renflouement. Les trois participants du secteur politique ont conseillé le contraire. Les futurs décisionnaires doivent tirer des leçons de cet évènement important et exceptionnel dans l'histoire financière canadienne.     

Security threats and institutional response. The European context

This paper will explore the perceptions of security threats (identification of types and likelihood of occurrence) and institutional response (degree of institutional suitability according to type of threat) that prevails in the European context. It will compare how the main security institutions (NATO, EU and OSCE) respond to different type of security threats. This will be done through the aid of a number of security governance functions (conflict prevention, peace-enforcement, peace-keeping and peace-building). A main objective of the paper will be to examine which of the three is deemed most relevant in dealing with specific types of threats.     

Teenage suicide in King County, Washington. I. Rates of suicide for 26 years

The population-adjusted rate of teenage suicide in King County, Washington, was reviewed for the 26 years from 1959 to 1984. For the entire period, the rate did not change significantly. An abrupt change did occur during the middle of this period, but, for reasons discussed in the text, this may well represent a change in procedures and philosophy of death certification rather than a real change in rate. Reasons for the apparent discrepancy with national statistics are discussed.     

Duration of the time to reconviction: Evidence from UK prisoner discharge data

Duration models were used to investigate reconviction risks for a sample of 34,126 offenders released from prison in England and Wales during 1998. Different versions of the Cox proportional hazards model were applied to a comprehensive data set covering several offense types. Factors such as age (modelled using bands rather than a linear or quadratic format), gender, convictions-history, and offense type were found to be strongly associated with the risk of reconviction. Interactions between factors were also included and it was shown that the discrepancy between the risk of reconviction for males and females became weaker as the number of previous convictions increased. The study helped identify the subgroups of offenders for whom reconviction risks are greatest and the times when they seem to be most vulnerable to reconviction. Implications are explored for the design of prisoner resettlement programs and the prioritization of offenders for more intensive forms of intervention.