The separation of commercial and investment banking : the Glass-Steagall Act revisited and reconsidered
Author(s)
Bibliographic Information
The separation of commercial and investment banking : the Glass-Steagall Act revisited and reconsidered
（Studies in banking and international finance）
Macmillan in association with the Dept. of Banking and Finance, City University Business School, London, 1990
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Research Institute for Economics & Business Administration (RIEB) Library , Kobe University図書
332.1-793s081000082708*
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Note
Includes bibliographical references
Description and Table of Contents
Description
Commercial and investment banking is legally separate in the U.S. and Japan, tends to be done seprately in the U.K. and Canada, and is conducted together in Germany and many other countries. After 1992 most restrictions limiting what a bank can do will be removed for the European Common Market countries, which will increase the pressure on the U.S. and Japan to change their laws. The U.S. law (the Glass - Steagall Act) ws passed in 1933 in response to the great Depression and failures of almost a third of U.S. banks. If commercial and investment banking were combined, might a similar debacle occur? What evidence is there that it ever happened? Werer conflicts of interests rife before 1933? What would happen if the restrictions were removed? Is universal banking really a better system? Indeed, if the Glass - Steagall Act was not based on fact and is not beneficial today, why was it enacted and why has it not been repealed?
Table of Contents
- Introduction to the Glass-Steagall Act
- sources of information and their contents about pre-Glass-Steagall conditions and events
- evidence on the risk of losses (safety and soundness)
- conflicts of interest and abuses related to commercial banks' securities operations directly or by and through securities affiliates
- securities services as an improper commercial banking activity
- restraints on competition as an explanation for the Glass-Steagall Act
- concern for commercial banks' federal "safety net"
- unfair competition
- concentration of power and less-than-competitive performance
- universal banking - advantages and disadvantages
- other reasons for the introduction and passage of the Glass-Steagall Act. Appendix: securities activities of banking organizations permissible under Federal law.
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