Capital Dilemma: Inequality and Growth in Washington, DC


On February 25, 2016 American University hosted a stimulating panel discussion on a new book Capital Dilemma: Inequality and Growth in Washington, DC, edited by Derek Hyra and Sabiyha Prince. The book chapters focus on issues of inequality and growth, particularly on ongoing gentrification making affordable housing unavailable to a majority of our residents who remain, as well as pushing out many who have lived here all their lives. There is much valuable information to digest touching on culture, institutional racism and white supremacy.


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Banks in the District of Columbia By Market Share

Banks in the District of Columbia By Market Share

This table presents recent data from the FDIC for banks operating in the District of Columbia and provides both U.S. and D.C. market share from the largest to smallest share of the D.C. deposits. The most recent annual report available was for June 2015 and presents information on 35 banks in the District of Columbia Market. Information is also available from the FDIC for previous years.

DC Public Banking Center's Bank Safety Fact Sheets are available for selected banks in this table:

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DC Government Bank Accounts

Which financial institutions hold the $3 billion in D.C. government deposits? This table from September 30, 2015 shows aggregate account balances by financial institution. Information provided by the D.C. Office of the Chief Financial Officer.

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Justice Rising Issue on Public Banking

The 20-page Spring 2014 issue of the Alliance for Democracy’s Justice Rising features an interesting mix of issues and perspectives on public banking. Articles include

  • Public Banks: Creating Public Money for the Public Good
  • In Solidarity With the People of Detroit
  • Accumulating Violence
  • Public Banking and Economic Democracy
  • Battle for Control of the Monetary System
  • AfD’s Campaign to Create Public Banks
  • How Do You Start a Public Bank?
  • DC Public Banking Center: Washington, DC
  • Public Banking Campaigns Across the Country
  • Vermont: Turning an Economic Development Agency Into a State Bank
  • The Bank of North Dakota
  • BND Is Thriving Today
  • Postal Banking: Prosperity For Struggling Communities
  • Kiwi Bank
  • German Banking Models
  • Public Banking: Groups, Books
  • 100  Years Is Enough: Time To Make the Fed a Public Utility

OCC’s Quarterly Report on Bank Trading and Derivatives Activities, Third Quarter 2015

The OCC’s quarterly report on bank trading and derivatives activities is based on call report information provided by all insured U.S. commercial banks, savings associations and trust companies (collectively, “banks”), reports filed by U.S. financial holding companies, and other published data. Beginning in the first quarter of 2012, savings associations reported their financial results in the call reports. As a result, their trading and derivatives activity is now included in the OCC’s quarterly derivatives report.

Third Quarter 2015 Report (pdf)

Executive Summary:

  • Insured U.S. commercial banks and savings associations reported trading revenue of $5.3 billion in the third quarter, $0.2 billion lower (3.5%) than in the second quarter, and $0.3 billion lower (5.1%) than in the third quarter of 2014.
  • Credit exposure from derivatives increased in the third quarter, due to a decline in interest rates. Net current credit exposure (NCCE) increased $39.1 billion, or 9.6%, to $444.6 billion.
  • Trading risk, as measured by Value-at-Risk (VaR), rose in the third quarter. Average VaR across the top 5 dealer banking companies increased $10 million, or 2.9%, to $357 million.
  • Notional derivatives fell $5.7 trillion, or 2.9%, to $192.2 trillion, the lowest level since the third quarter of 2008. Notionals have declined in each of the past four quarters. Derivative contracts remain concentrated in interest rate products, which represent 76.9% of total derivative notional amounts. Credit derivatives, which represent 4.3% of total derivatives notionals, declined 3.4% from the second quarter to $8.2 trillion.

Additional reports may be available as they are published.


Legal Framework For Big Banks Puts Depositors At Risk

This article documents the legal framework for too-big-to-fail banks and other banks with derivative investments that put their depositors at high risk in the event of bankruptcy. It is intended to assist District of Columbia elected officials, city administrators, other concerned stakeholders, and citizens to understand and respond to the legal framework that binds federal regulatory agencies and courts in the event of bank failures, including:

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Understanding the Money and Banking System

This Public Banking Institute webinar (free but requires registration) with Marco Vangelisti covers the fundamental issues of the banking and money system in the U.S.  The design of the banking and money system is implicated in the largest challenges we face as a society:

  • Increasing levels of debt (public and private)
  • Economic instability
  • Concentration of wealth and power
  • Loss of democracy
  • Environmental and climate disruption
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Why Support the DC Public Bank Presentation

Why Support the DC Public Bank. This quick presentation covers the DC Public Banking Center’s core concepts about the need and benefits for establishing the DC Public Bank.

Part 1

Part 2

Gentrification in DC Presentation

Confronting ongoing gentrification of our community is a big part of the challenge to promote a better quality of life for all, without displacing long-term residents. This presentation is by Dr. Johanna Bockman, a faculty member of the Sociology and Anthropology Department, George Mason University. Dr. Bockman, who lives in Ward 6, is also a blogger at Sociology in My Neighborhood: DC Ward 6.

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NCRC Lending Analysis: 2013 DC Report

The National Community Reinvestment Coalition (NCRC) is an association of more than 600 community-based organizations that promote access to basic banking services, including credit and savings, to create and sustain affordable housing, job development, and vibrant communities for America’s working families.

NCRC prepared a report on lending in Washington, DC by six major banks: Bank of America, BB&T, Citigroup, JP Morgan Chase, PNC, and Wells Fargo. NCRC used 2011 Home Mortgage Disclosure Act (HMDA) data with the following specifications for Washington, DC: all single family prime lending, loans to owner-occupants, and first lien loans. The category of “all single-family loans” includes loans for home purchase, home improvement, and refinances. For the small business lending analysis, NCRC used small business originations reported as required by the Community Reinvestment Act (CRA).