Glass-Steagall Act
The Glass-Steagall Act is a landmark bill in Federal banking and securities law. Passed in 1933, in the middle of the Great Depression, the Glass-Steagall Act was aimed at restoring confidence in the banking system.
Glass-Steagall Act
A 1933 act in which Congress forbade commercial banks to own, underwrite, or deal in
corporate stock and corporate bonds.
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Glass-Steagall Act
Whem US officials talk of "restoring Glass-Steagall", they mean the Banking Act of 1933, which sought to prevent a repeat of the mass bank collapses seen in the Great Depression.
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Glass-Steagall Act
1933 legislation prohibiting commercial banks to own, underwrite, or deal in corporate stock and corporate bonds.
Glass-Steagall Act: 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.
Glass-Steagall Act of 1939: The federal law that prohibited banks from acting as dealers or underwriters in any securities other than general obligation municipal bonds.
GNMA: See Government National Mortgage Association.
Glass-Steagall Act: A 1933 United States national law separating investment banking and commercial banking firms. Also prohibited banks from owning corporate stock.
Glass-Steagall Act
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Glass-Steagall Act (US)
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glass-steagall act
federal law enacted by Congress in 1933 forcing a separation between commercial banking and investment banking.
Glass-Steagall Act
An act passed by Congress in 1933 that prohibited commercial banks from collaborating with full-service brokerage firms or participating in investment banking activities.
Under its Glass-Steagall Act, the United States had long distinguished between commercial banks and securities firms (investment banks or broker-dealers). Following World War II, Japan adopted a similar legal distinction.
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Definition: The Glass-Steagall Act, also known as the banking act of 1933, separated investment banking from commercial banking.
Glass-Steagall Act A 1933 Congressional law that successed in authorizing deposit insurance and prohibiting commercial banks from owning brokerages. global Having the quality of being international, worldwide.
The Glass-Steagall Act of 1932 and the Banking Act of 1933 together formed an extensive reform measure designed to correct the abuses that had led to numerous bank crises in the years following the stock market crash of 1929.
In the United States the Glass-Steagall Act of 1933 (Section 11) provided that no member bank of the Federal Reserve System could pay any interest on checking accounts and the Banking Act of 1935 extended the prohibition also to non-member banks.
An often-cited regulation is the Glass-Steagall Act, which forced the separation of commercial banking from investment banking and equity ownership, ...
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Glass-Steagall Act
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A receipt denoting ownership of foreign-based corporation stock shares which are traded in numerous capital markets around the world.
Glass-Steagall Act ...
However, in the United States financial laws such as the Glass-Steagall Act have separated different forms of banking from each other and kept banks out of the insurance business.
Also known as the Glass-Steagall Act. [OTS] banking day Any day on which a participating financial institution is open to the public during any part of the day for carrying on substantially all its financial functions.
 See also: Banks, Commercial banks, Saving, Mergers, Expense
  
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