Number of firms v.s Number of offices Consolidation,in turn,has increased the proportion of banking assets controlled by the largest banks. Not surprisingly,the same trends appear globally. The United States currently has several banks that operate in all 50 states and many locales outside the U.S. The largest foreign banks have significant operations in the U.S. and throughout the world. 爸封强的黄香+孝
Number of firms Number of firms v.s Number of offices Number of offices Consolidation, in turn, has increased the proportion of banking assets controlled by the largest banks. Not surprisingly, the same trends appear globally. The United States currently has several banks that operate in all 50 states and many locales outside the U.S. The largest foreign banks have significant operations in the U.S. and throughout the world
Increased Competition Competition also means geography no longer limits a financial institution's trade area or the markets in which it competes. ■ Individuals can open a checking account at: a traditional depository institution, ▣a brokerage firm,or a nonbank firm,such as GE Capital,State Farm Insurance,and AT&T. 麓的贫香小手
Increased Competition Increased Competition Competition also means geography no longer limits a financial institution’s trade area or the markets in which it competes. Individuals can open a checking account at: a traditional depository institution, a brokerage firm, or a nonbank firm, such as GE Capital, State Farm Insurance, and AT&T
Regulatory restrictions Product innovations and technological advances of the later half of the twentieth century allowed investment banking firms to circumvent the regulations restricting their banking activities. In the late 1970s Merrill Lynch effectively created an "interest bearing checking account,"something banks had not been legally allowed to offer. 猫行贺影小号
Regulatory restrictions Regulatory restrictions Product innovations and technological advances of the later half of the twentieth century allowed investment banking firms to circumvent the regulations restricting their banking activities. In the late 1970s Merrill Lynch effectively created an “interest bearing checking account,” something banks had not been legally allowed to offer
Banks were heavily regulated Merrill Lynch was only regulated by the Securities and Exchange Commission. ■ This allow investment companies to move into the banks market,circumventing Glass- Steagall and the Bank Holding Company Act Not until the late 1980s and early 1990s did banks find ways around Glass-Steagall using a Section 20 affiliate which allowed them to offer a limited amount of investment banking products and services. 猫行贺影小号
Banks were heavily regulated Banks were heavily regulated Merrill Lynch was only regulated by the Securities and Exchange Commission. This allow investment companies to move into the banks market, circumventing GlassSteagall and the Bank Holding Company Act Not until t he late 1980s and early 1990s did banks find ways around Glass-Steagall using a Section 20 affiliate which allowed them to offer a limited amount of investment banking products and services
Branching restrictions This created a system of many more but smaller banks as compared to other countries. By the late 1990s,all branching restrictions were removed from the banking system and the number of independent banks was reduced by almost half,the number of branches increased by almost 50 percent and the size of the largest U.S.banks increased dramatically. 猫行贺影小号
Branching restrictions Branching restrictions This created a system of many more but smaller banks as compared t o other countries. By the late 1990s, all branching restrictions were removed from the banking system and the number of independent banks was reduced by almost half, the number of branches increased by almost 50 percent and the size of the largest U.S. banks increased dramatically