The wall falls

Article Abstract:

The Glass-Steagall act is likely to be repealed and this should bring benefits to the financial services industry. The act involves a separation of commercial banking, investment banking and insurance and was implemented as a result of fears that banks could have caused the 1929 Wall Street Crash by their involvement in the securities market. Lack of diversification in the banking industry appears to be the main reason for banks having collapsed, according to later research.

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Killing Glass-Steagall

Article Abstract:

The planned repeal of the Glass-Steagall act should strengthen the US financial services industry which has been too fragmented as a result of the act. Diversification can protect banks. There is some concern about the possible impact of concentration in the financial services industry. There is a need to reform the way that financial services companies are supervised, since crises often occur when liberalization is carried out without reforming supervision.

Editorial

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A big bang for Japan: the Japanese government has announced its intention to reform the financial system. Should its proposals be taken seriously?

Article Abstract:

Japanese Prime Minister Ryutaro Hashimoto announced on Nov 11, 1996, that he plans to deregulate much of Japan's financial sector by 2001. The reforms have not been spelled out in detail, but are long overdue and could help to spur the country's economy. Securities firms oppose the reforms.

Banking Institutions, Depository Credit Intermediation, DEPOSITORY INSTITUTIONS, Security and Commodity Services, Securities & Commodities Services, Securities, Commodity Contracts, and Other Financial Investments and Related Activities, Japan, Banks (Finance), Economic policy, Securities industry, Financial institutions, Deregulation

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