Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994

Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994

Law permitting interstate banking in the U.S.

Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994

Legislation in the United States repealing previous restrictions on banks from operating in more than one state. The Riegle-Neal Act allowed banks, under certain circumstances, to acquire banks or set up branches in other states without creating a separate subsidiary. The Act streamlined banking regulation in the United States, and, for the first time, allowed out-of-state residents to set up bank accounts. It also gave federal regulators the authority to ensure that out-of-state deposits do not dominate American banking.
References in periodicals archive ?
They will use to determine compliance with section 109 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994. These ratios replace the prior year's ratios, which were released on June 17, 2016.
Banking regulators in the US have released the updated loan-to-deposit ratio which would be used to determine the compliance status of institutions with respect to the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994.
[RNIBA.sub.t] a binary/dummy variable indicating whether the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 was in effect in year t:
"Of The Banking Industry Under The Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994: Is The Banking Industry Headed In The Right Direction?" Wake Forest Law Review.
On September 29, 1994, President Clinton signed into law the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 (Riegle-Neal).
In the United States, the banking industry at the national level has undergone a series of major deregulatory moves over the past quarter century, beginning with the removal of some interest rate ceilings on deposits in 1978, followed closely by the Depository Institutions Deregulation and Monetary Control Act of 1980, running through the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994, and culminating in the Gramm-Leaeh-Bliley Act of 1999, which overturns most of the provisions of the Glass-Steagall Act of 1933 and allows banks to affiliate with securities and insurance firms.
In cases involving interstate bank acquisitions, the Board also must consider the concentration of deposits nationwide and in certain individual states, as well as compliance with other provisions of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994. (7)
The McFadden Act and Douglas Amendment were repealed by the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994, which was signed into law by the President on September 29, 1994 and became fully operative on June 1, 1997.
The Compact was essentially abrogated a decade later by the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994, (4) new national banking legislation that overrode and preempted the various states' interstate banking laws and for the first time allowed for full interstate banking in the United States, effective July 1, 1995.
Section 102 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 ("Riegle-Neal Act") authorizes a bank to merge with another bank under certain conditions unless, before June 1, 1997, the home state of one of the banks involved in the transaction adopted a law expressly prohibiting merger transactions involving out-of-state banks.
The McFadden Act and Douglas Amendment were repealed by the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994, was signed by the President into law on September 29, 1994, and became fully operative on June 1, 1997.
The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency issued on May 22, 2003, the host state loan-to-deposit ratios that the banking agencies will use to determine compliance with section 109 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994. These ratios update data released on June 24, 2002.