Glass-Steagall Act: Commercial vs. Investment Banking

Description

This report discusses debate over reform of the Nation's financial structure in the 100th Congress includes re-examination of "the separation of banking and commerce." This separation was mandated by the Glass-Steagall Act (part of the Banking Act of 1933); and was carried forward into the Bank Holding Company Act of 1956, as amended in 1970 and thereafter. The resulting isolation of banking from securities was designed to (1) maintain the integrity of the banking system; (2) prevent self-dealing and other financial abuses; and (3) limit stock market speculation. By half a century later, the "wall" it created seemed to be ... continued below

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7 Pages.

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Jackson, William D. June 29, 1987.

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This report is part of the collection entitled: Congressional Research Service Reports and was provided by UNT Libraries Government Documents Department to Digital Library, a digital repository hosted by the UNT Libraries. It has been viewed 7707 times , with 36 in the last month . More information about this report can be viewed below.

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Description

This report discusses debate over reform of the Nation's financial structure in the 100th Congress includes re-examination of "the separation of banking and commerce." This separation was mandated by the Glass-Steagall Act (part
of the Banking Act of 1933); and was carried forward into the Bank Holding Company Act of 1956, as amended in 1970 and thereafter. The resulting isolation of banking from securities was designed to (1) maintain the integrity of the banking system; (2) prevent self-dealing and other financial abuses; and (3) limit stock market speculation. By half a century later, the "wall" it created seemed to be crumbling, as bankers created new financial products resembling securities, and securities firms innovated new financial products resembling loans and deposits. The ongoing process of "financial deregulation" has evoked calls for Congress to give depository institutions new powers, especially in the securities field. Financial deregulation in the United Kingdom, Canada, and Japan has put additional pressure on Congress to re-examine this Act. Concerns over a seemingly fragile system of depository institutions persist, however, tending to place counter-pressure on Congress to maintain the Act.

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7 Pages.

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Congressional Research Service Reports

The Congressional Research Service (CRS) is the public policy research arm of Congress. This legislative branch agency works exclusively for Members of Congress, their committees and their staff. This collection includes CRS reports from the mid-1970's through the present--covering a variety of topics from agriculture to foreign policy to welfare.

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Creation Date

  • June 29, 1987

Added to The UNT Digital Library

  • Aug. 10, 2006, 3:31 p.m.

Description Last Updated

  • Dec. 17, 2015, 12:07 p.m.

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Jackson, William D. Glass-Steagall Act: Commercial vs. Investment Banking, report, June 29, 1987; Washington D.C.. (digital.library.unt.edu/ark:/67531/metacrs9065/: accessed May 28, 2017), University of North Texas Libraries, Digital Library, digital.library.unt.edu; crediting UNT Libraries Government Documents Department.