1933 Congressional law which authorized deposit insurance and prohibited commercial...
in the US (like "Article 65" in Japan) enforced a strict separation between commercial banks and investment banks or stockbroking firms
Established the Federal Deposit Insurance Corporation and included banking reforms, some designed to control speculation. A banking act of the Hoover administration, passed in 1932 and also known as the Glass-Steagall Act, was designed to expand credit.
Officially known as the Bank Act of 1933, a Depression-era act aimed at protecting financial institutions (commercial banks) that take customer deposits from the risks associated with securities activities.
U.S. federal law passed in 1933 that forced a separation between commercial banking and investment banking.
A federal law enacted in 1933 that, in part, separated commercial banking from investment banking and generally precluded commercial banks from underwriting certain types of municipal revenue bonds. Many provisions of Glass-Steagall were repealed or substantially modified by the Gramm-Leach-Bliley Act. See: GRAMM-LEACH-BLILEY ACT.
1933 legislation prohibiting commercial banks to own, underwrite, or deal in corporate stock and corporate bonds.
A 1933 act in which Congress forbade commercial banks to own, underwrite, or deal in corporate stock and corporate bonds.
A portion of the Banking Act of 1933 which prohibits banks from entering into the securities business and prohibits securities firms from accepting deposits. However, securities issued or guaranteed by a bank are not subject to the Securities Act of 1933. Therefore, bank instruments, by virtue of being issued by a bank, are not considered a form of securities.
A portion of the Federal Banking Act of 1933 primarily concerned with the separation of commercial and investment banking. It prohibited commercial banks from securities underwriting and mandated that the Federal Reserve establish interest rate ceilings on certain balance sheet items. It also established the FDIC. See also Banking Act of 1933, Federal Deposit Insurance Corporation.
An Act passed by Congress in 1933, that prohibited commercial banks from collaborating with full-service brokerage firms or participating in investment banking activities.
Two separate United States laws are known as the Glass-Steagall Act. Both were reactions of the U.S. government to cope with the economic problems which followed the Stock Market Crash of 1929.