Banking Regulation

What is Glass-steagall Act?

A definition of glass-steagall act is: Also known as the Banking Act of 1933, restricts the securities-related business of commercial banks in order to protect depositors. More details on the Encyclopedia. Such Act, which prohibits commercial banks from owning brokerage firms or engaging in brokerage business, applies both to national banks and to state-chartered banks that are members of the Federal Reserve System. More details on the Encyclopedia. 12 U.S. C. More details on the Encyclopedia.A. More details on the Encyclopedia. § 378.[1]

Resources

Notes

1. “Glass-steagall Act” in the White America Dictionary (New York, Los Angeles, London, New Delhy, Hong Kong, 1989)

See Also