Glass-Steagal Act

(redirected from Banking Act)

Glass-Steagal Act

Legislation in the United States, enacted in 1933, intended to restore confidence in the banking system. Among its most important provisions was the creation the FDIC, which provided insurance on bank deposits up to a certain amount. The act also prohibited bank holding companies from owning brokerages or certain securities. This provision was designed to prevent banks from engaging in most investment activities and thereby to reduce the risk they carried. Most of the Glass-Steagal Act was repealed by the Gramm-Leach-Bliley Act in 1999. It is formally called the Banking Act of 1933.
References in periodicals archive ?
The decision, approved during a session chaired by Deputy Speaker Ahmad Safadi and attended by several ministers, is consistent with the Parliament's Economic and Investment Committee's recommendation to delete the article in the Banking Act that allows these firms to open branches in the Kingdom.
Global Banking News-June 5, 2015--ECUREX fully compatible with Swiss Banking Act
Representatives Aaron Schock (R-IL) and Ron Kind (D-WI) for reintroducing HR 3673, the Family Cord Blood Banking Act.
Bank"), Tokyo, Japan, a foreign bank within the meaning of the International Banking Act ("IBA"), has applied under section 10(a) of the IBA (12 U.
The Financial Services Competitiveness Act of 1997 (HR 10) would repeal the prohibitions in the Banking Act of 1933, commonly known as the Glass-Steagall act, against affiliations of commercial banks with investment banks and securities firms.
The taxpayer proposed to reorganize its national bank subsidiary under the Texas banking act as an LBA, with some of the bank's officers and directors becoming members of the LBA.
Newport Financial Center initiated legislation in the House of Representatives and the Senate that has successfully amended the New Jersey Foreign Banking Act.
The Indian government has announced a plan to make changes to the banking act that has been in force since 1949.
The Legal Developments section of the quarterly Bulletin will contain Board orders issued under the Bank Holding Company Act, the Bank Merger Act, the Federal Reserve Act, and the International Banking Act.
Bank"), Medellin, Colombia, a foreign bank within the meaning of the International Banking Act ("IBA"), has applied under section 7(d) of the IBA (12 U.
The Federal Reserve Board announced on December 12, 2000, pursuant to section 7(i) of the International Banking Act ("IBA"), the Board of Governors has determined that it is not necessary to conduct a proceeding to determine if the United States operations of Bancomer, S.
Dexia Project and Public Finance International Bank ("Bank"), Paris, France, a foreign bank within the meaning of the International Banking Act ("IBA"), has applied under section 7(d) of the IBA (12 U.

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