State-Sponsored Insurance of Bank Deposits in the United States, 1907-1929

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Before the creation of the Federal Deposit Insurance Corporation in 1933, several states established deposit guarantee funds. The key factor influencing the adoption of deposit insurance by a state was the structure of its banking industry. In states where small unit banks were dominant, there was strong support for guarantee funds to protect deposits; in other states there was more interest in branch banking. The failure to design the guarantee funds in accordance with sound principles of insurance brought about their demise and led to increased branch banking.

Original languageEnglish (US)
Pages (from-to)537-557
Number of pages21
JournalThe Journal of Economic History
Issue number3
StatePublished - Sep 1981

All Science Journal Classification (ASJC) codes

  • History
  • Economics and Econometrics
  • Economics, Econometrics and Finance (miscellaneous)


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