A NOTE ON THE IMPACT OF CERTIFICATES OF DEPOSIT ON BANK‐THRIFT COMPETITION Available to Purchase

Due largely to the discussion arising from the Hunt Commission of the early 1970's, bank — thrift institution competition continues to be one of the most controversial topics currently under study. For all the heat the debate has generated, there has been little new light shed on the problem. Host of the existing empirical literature is based on studies using data from the 1950's and 60's. The purpose of this note is to point out the need to consider the significant impact of non‐passbook household savings deposits when analyzing bank — thrift relationships. The evidence presented is preliminary in nature, but clearly indicates the need to incorporate the structure of time deposits into the analysis.