The views expressed in this paper do not necessarily reflect those of the Federal Reserve Bank of Atlanta, the Federal Reserve System, or their staffs. During 1986–1989 White was a member of the Federal Home Loan Bank Board, with responsibilities that included being a board member of Freddie Mac and overseeing the Federal Home Loan Bank System. We would like to thank the following for their helpful comments on earlier drafts of this paper: Mark Flannery, two anonymous referees, Michael Fratantoni, Diana Hancock, Joseph McKenzie, Wayne Passmore, Greg Sierra, Larry Wall, and seminar participants at the 2004 ASSA meetings, the 2004 Federal Reserve Bank of Chicago Bank Structure and Competition Conference, and the University of South Carolina. In addition to their comments, Matthew Green, Anjela Kniazeva, Diana Kniazeva, and Heather Zackal provided valuable research assistance.
Charter Value, Risk-Taking Incentives, and Emerging Competition for Fannie Mae and Freddie Mac
Version of Record online: 18 JAN 2007
Journal of Money, Credit and Banking
Volume 39, Issue 1, pages 83–103, February 2007
How to Cite
FRAME, W. S. and WHITE, L. J. (2007), Charter Value, Risk-Taking Incentives, and Emerging Competition for Fannie Mae and Freddie Mac. Journal of Money, Credit and Banking, 39: 83–103. doi: 10.1111/j.0022-2879.2007.00004.x
- Issue online: 18 JAN 2007
- Version of Record online: 18 JAN 2007
- Received February 6, 2004; and accepted in revised form November 16, 2005.
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