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to Lowell Bryan, a former head of McKinsey & Company’s banking practice, the answer lies in a debate (thảo luận) that was held three decades ago. His proposal: Create a new type of low-risk bank.

U.S. banking should be divided by levels of riskiness, Bryan argued in the 1990s. Deposits at “core banks” would be insured by the government, but these lenders would be allowed to participate only in low-risk businesses.

Wholesale banks would draw funding from private investors but wouldn’t be protected by the government. If they made fatal missteps, the government would intervene to prevent widespread panic, but the firms would fail and investors would be punished. (Bryan has argued that big financial companies could own both kinds of banks — so long as the depository lender was adequately protected from its wholesale counterpart.)

The attraction of this system, Bryan told DealBook in an interview, is that it fundamentally limits the risks in the banking industry in a way that complex requirements for liquidity and capital measures don’t.

“The central issue is, if you give a federal guarantee, you have to put real limits on the ability to raise deposits,” he said.

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