Policy Watch: The Repeal of Glass-Steagall and the Advent of Broad Banking
Enactment of the Gramm-Leach-Bliley Act (GLBA) in November 1999 effectively repealed the long-standing prohibitions on the mixing of banking with securities or insurance businesses and thus permits “broad banking.” We attribute repeal of these prohibitions to the increasingly persuasive evidence fro...
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| Veröffentlicht in: | The Journal of economic perspectives 2000-04, Vol.14 (2), p.191-204 |
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| container_title | The Journal of economic perspectives |
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| creator | Barth, James R. Brumbaugh, R. Dan Wilcox, James A. |
| description | Enactment of the Gramm-Leach-Bliley Act (GLBA) in November 1999 effectively repealed the long-standing prohibitions on the mixing of banking with securities or insurance businesses and thus permits “broad banking.” We attribute repeal of these prohibitions to the increasingly persuasive evidence from academic studies of the pre-Glass-Steagall era, the recent favorable experience in the United States following partial deregulation of banking activities, the experience of banking systems abroad with broader scopes for banking activities, and rapid technological change in telecommunications and data processing. How regulators will in practice coordinate their efforts so that the safety and soundness of the banking system is maintained efficiently remains to be seen. |
| doi_str_mv | 10.1257/jep.14.2.191 |
| format | Article |
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Dan</au><au>Wilcox, James A.</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>Policy Watch: The Repeal of Glass-Steagall and the Advent of Broad Banking</atitle><jtitle>The Journal of economic perspectives</jtitle><date>2000-04-01</date><risdate>2000</risdate><volume>14</volume><issue>2</issue><spage>191</spage><epage>204</epage><pages>191-204</pages><issn>0895-3309</issn><eissn>1944-7965</eissn><abstract>Enactment of the Gramm-Leach-Bliley Act (GLBA) in November 1999 effectively repealed the long-standing prohibitions on the mixing of banking with securities or insurance businesses and thus permits “broad banking.” We attribute repeal of these prohibitions to the increasingly persuasive evidence from academic studies of the pre-Glass-Steagall era, the recent favorable experience in the United States following partial deregulation of banking activities, the experience of banking systems abroad with broader scopes for banking activities, and rapid technological change in telecommunications and data processing. How regulators will in practice coordinate their efforts so that the safety and soundness of the banking system is maintained efficiently remains to be seen.</abstract><cop>Nashville, Tenn</cop><pub>American Economic Association</pub><doi>10.1257/jep.14.2.191</doi><tpages>14</tpages><oa>free_for_read</oa></addata></record> |
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| identifier | ISSN: 0895-3309 |
| ispartof | The Journal of economic perspectives, 2000-04, Vol.14 (2), p.191-204 |
| issn | 0895-3309 1944-7965 |
| language | eng |
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| source | Jstor Complete Legacy; Elektronische Zeitschriftenbibliothek - Frei zugängliche E-Journals; Business Source Complete; American Economic Association Web; Periodicals Index Online |
| subjects | Bank assets Bank holding companies Bank Holding Company Act 1956-US Bank loans Banking Banking industry Banking regulation Banking system Commercial banks Cost control Federal legislation Federal Reserve Bank Financial holding companies Financial institutions Financial Services Modernization Act 1999-US Insurance companies Insurance regulation Investment banking Law Merchant banks Policy analysis Portfolio investments Private placement Regulation of financial institutions Regulatory agencies Securities issues Subsidiaries Subsidiary companies Treasuries Underwriting |
| title | Policy Watch: The Repeal of Glass-Steagall and the Advent of Broad Banking |
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