Title variants
Development of Investment Banking In the USA in the Process of the Evolution of the Financial System the Historical Perspective
Languages of publication
Abstracts
The business of investment banking is trending toward one-stop shopping and globalization. This article presents the history and the repeal of the Glass-Steagall Act, which determine present level of development of investment banking. The 1933 Banking Act combined a bill sponsored by Representative Steagall to establishing federal deposit insurance with a bill sponsored by Senator Glass to segregate the banking and securities industries. More commonly known as the Glass-Steagall Act, is distinguished between: commercial banking, which is the business of taking deposits and making loans and investment banking, which is the business of underwriting and dealing in securities. In 1999 Congress passed the Financial Services Competition Act, eroded the Glass-Steagall separation of commercial and investment banking by permitting banks to have affiliated securities firms.
Keywords
Publisher
Year
Volume
Physical description
Dates
published
2007
Contributors
References
Document Type
Publication order reference
Identifiers
URI
http://hdl.handle.net/11089/16344
YADDA identifier
bwmeta1.element.hdl_11089_16344
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