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Financial Restructuring and Credit Unions

Author

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  • Greinke, Andrew

    (Australian National University)

Abstract

The nature of credit unions as mutual financial institutions is examined and the economic implications of mutuality explored. While manager-shareholder agency costs are likely to be exacerbated within credit unions, shareholder-debtholder agency costs are likely to be eliminated. In this context, the implications for credit unions of the Campbell Report, the Financial Institutions scheme, and the Wallis Inquiry are discussed. While the imposition of risk-weighted capital adequacy requirements are inconsistent with the institutional form of credit unions, regulatory measures such as monitoring of management contracts can be supported.

Suggested Citation

  • Greinke, Andrew, 1998. "Financial Restructuring and Credit Unions," Economic Analysis and Policy, Elsevier, vol. 28(1), pages 39-52, March.
    • Handle: RePEc:eee:ecanpo:v:28:y:1998:i:1:p:39-52
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    Cited by:

    1. Andrew Greinke, 2005. "Imposing Capital Controls on Credit Unions: An Analysis of Regulatory Intervention in Australia," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 76(3), pages 437-460, September.

    More about this item

    Keywords

    Credit; Financial Institutions;

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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