***  Check against delivery  1 Introduction Ladies and gentlemen, It's a pleasure for me to be with you here at the Peterson Institute for International Economics in Washington D. C. Over the last couple of days at the Spring Meetings, we have intensely debated current events in economics and finance. I now look forward to sharing and discussing my views with you.
Depositors are a special category of a bank’s creditors for two main reasons. Bank deposits are the main form of savings for many people, especially the less wealthy. Bank deposits are also money, and the insolvency of a bank – especially a large one – can have serious economic side effects by sharply reducing the supply of money and credit to the economy.