Definitions for "Glass-Steagall Act"
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.