Richmond Fed paper analyses new banks decline
Number of commercial banks declined 14% between 2007 and 2013
An "unprecedented collapse in new bank entry" is the main reason for the 14% decline in the number of independent commercial banks in the US between 2007 and 2013, according to research published yesterday by the Federal Reserve Bank of Richmond.
In Explaining the decline in the number of banks since the Great Recession, Roisin McCord, Edward Simpson Prescott and Tim Sablik analyse the number of independent banks in the US from 1960 onwards, finding the "rate of new-bank formation has fallen
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