1980 DIDMCA 1982 1994 20 & 1989 FIRREA 1991 FDICIA 1999 11 12 Gramm-Leach- Bliley Act P.L.106-102, 113 STAT.1338 1933 Glass-Steagall Act P.L. 73-66, 48 STAT. 162 66 1980 1981 1980 1990 & Savings and Loan Association ; 1987 1998 2003.12 47
30 1979 838 74 1999 11,497 12 1980 1980 Jeffersonian Democracy 1929 1970 1933 1929 10 24 1933 Board of Governors of the Federal Reserve System : FRB Federal Reserve Board FRB 1935 Banking Act of 1935 P.L. 74-305, 49 STAT. 684 Regulation Q 1927 Mc- Fadden Act of 1927 P.L. 69-639, 44 STAT. 1224, 1986, ;, 2002, pp.54-55. National Bank State Bank 1935 Federal Deposit Insurance Corporation : FDIC 48 2003.12
Unit Banking System 16 20 21 32 1956 FDIC 1956 Bank Holding Company Act of 1956 P.L. 84-511, 70 STAT. 133 Douglas Amendment 1956 1960 1970 Bank Holding Company Act Amendments of 1970 P.L. 91-607, 84 STAT. 1760 2003.12 49
1930 1980 DIDMCA 1960 1966 FRB : MMMF disintermediation : 1969 70 1973 74 1978 1981 1978 1970 1970 24 89 10 1973 16 90 1973 1970 10 CD 1978 MMC, 1996, pp.74-75. single maturity multiple maturities 50 2003.12
1973 10 1978 MMMF MMC Money Market Certificate : 1980 1980 Depository Institutions Deregulation and Monetary Control Act of 1980 DIDMCA P.L. 96-221, 94 STAT. 132 Q 1986 10 1980 1930 1971 12 10 1973 11 1970 1973 1975 1976 1980 1978 1975 CMA 12 1977 1970 mutual savings bank savings and loan association : & 1966 P.L. 89-597, 80 STAT.823 1980 DIDMCA S&L 20 1982 & 40 30 10 10 & & Report of the President's Commission on Financial Structure and Regulation, U.S. Government Printing Office, December 1971. Recommendations for Change in the U.S. Financial System, Department of the Treasury, August 3, 1973 (and Revised, September 24,1973). Cash Management Account : MMMF 2003.12 51
1980 Depository Institutions Deregulation Committee; DIDC DIDC 13 1980 1986 1982 10 1982 Depository Institutions Act of 1982 Garn-St Germain Act P.L. 97-320, 96 STAT. 1469 DIDC 12 MMMF MMDA MMDA DIDC MMMF 1983 10 1927 1956 1956 1978 1970 1982 1992 FRB FDIC FHLBB NCUA DIDC interstate banking interstate branching 1992 State of Connecticut, Department of Banking, "Bank Geographic Structure" http://www.state.ct.us/dob/ interstate banking 52 2003.12
14 intrastate branching 51 1970 12 1970 1994 38 15 1994 51 16 1994 29 1994 Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994, P.L. 103-328, 108 STAT. 2338 interstate banking 1956 1995 30 interstate branching 1997 10 30 Community Reinvestment Act of 1977 CRA P.L.95-128, 91 STAT. 1147 17 1994 acquisition de novo interstate banking interstate branching 1997 opt-out 1997 interstate branching opt-in intrastate branching 1994 2001 2004 Philip E. Strahan, "The Real Effects of U.S. Banking Deregulation", The Federal Reserve Bank of St. Louis Review (July/August 2003) : pp.111-113. CRA 1960, 2001, pp.266-267 ; -ISSUE BRIEF- 345, 2000.10. 2003.12 53
18 19 & FHLBB 20 1956 20 Section 20 subsidiary FRB Fed Order 1987 FRB CP FRB 1989 10 1997 25 20 1989 1990 20 p.80., 2002, pp.81-90. 54 2003.12
20 1980 1981 1981 10 Jake Garn S.1720 MMMF CP S.2879 1988 Financial Modernization Act of 1988 S.1886 William Proxmire 1987 11 20 1988 30 20 32 HR.5094 1991 1995 1997 1980 90 20 & 1980 1982 & FHLBB 21 re-regulation deregulation plus new regulation, pp.267-268. pp.100-101 FHLBB &, 1994, pp.60-61. 2003.12 55
& 1980 1981 & 22 & 1981 78 1986 56 23 1986 & & & 24 25 & Federal Savings and Loan Insurance Corporation : FSLIC 1986 FSLIC 63 1987 Competitive Equality Banking Act of 1987 CEBA P.L. 100-86, 101 STAT. 552 FSLIC 107 5,000 & 1988 FSLIC 750 & 1989 1989 Financial Institutions Reform, Recovery, and Enforcement Act of 1989 FIRREA P.L. 101-73, 103 STAT. 183 FSLIC FDIC Bank Insurance Fund : BIF Savings Association Insurance Fund : SAIF & FHLBB Office of Thrift Supervision : OTS Federal Housing Finance Board :FHFB Resolution Trust Corporation : RTC 19891001 1991 Modernizing the Financial System : Recommendations for Safer, More Competitive Banks, 1986 Federal Deposit Insurance Corporation FDIC, History of the Eighties-Lessons for the Future New York: Federal Deposit Insurance Corporation, 1997 p.179 S&L 197080 & & 1988 280 56 2003.12
Financial Services Holding Company : FS HC Diversified Holding Company : DHC 1991 20 S.713, HR.1505 12 19 1991 Federal Deposit Insurance Corporation Improvement Act of 1991 FDICIA P.L. 102-242, 105 STAT. 2236 1991 1980 10 FDIC 1995 FDIC "Too Big To Fail " FDIC 1994 1.25 FDIC 50 300 BIF 400 1991 26 27 1991 pp.71-72., 2002, pp.75-79. 2003.12 57
28 1980 MMDA MMMF 1980 1986 MMMF 1990 MMMF MMDA 29 1980 1990 1980 1985 1987 FRB securitization 1970 GNMA, 1971 FHLMC, Mortgage Backed Security : MBS MBS GNMA FHLMC FN MA, 1970 1983 FHLMC 1956 bank, 2002, pp.36-39. 58 2003.12
Collateralized Mortgage Obligation : CMO 1986 Commercial Mortgage Backed Securities CMBS, 1980 198090 RTC CMBS collateralized loan obligation : CLO 1987 30 1990 CLO Asset Backed Security ABS : CLO 31 32 1991 104 1995 96 105 1997 98 BIS ROE ROA 2002, 2002, pp.190-205 ; pp.179-181. 1985 gross interest income non interest income loans 65.7 2002 52.2 non interest income-other 1985 10.4 2002 20.4 "Profits and Balance Sheet Development at U.S. Commercial Banks", Federal Reserve Bulletin, June 1995, June 2003 2003.12 59
33 106 1999 2000 1999 Jim Leach HR.10 11 Tom Bliley 10 1988 105 1999 10 1999 Phil Gramm S.900 CRA 1999 11 11 11 12 1980 4 20 32 16 21 financial holding company OCC FRB FDIC FRB OTS NCUA SEC NASD 60 2003.12
1999 CRA satisfactory FRB 2001 12 34 1980 1930, 1985., 1983., 1979., 1989. SEC 2003 28 3,500 2,000 SEC "SEC Settles Enforcement Proceedings against J.P. Morgan Chase and Citigroup", SEC Press Release 2003-87 July 28, 2003 2002 30 2002 Sarbanes-Oxley Act of 2002 P.L. 107-204, 116 STAT. 745, 2002 215 2003 2003.12 61
2000.1., 2001. ABA Banking Journal, American Banker, Wall Federal Deposit Insurance Corporation FDIC, Managing the Crisis -The FDIC and RTC Expe rience 1980-1994. Washington : D.C. 1998. FDIC, A Brief History of Deposit Insurance in the Street Journal, various issues United States. Washington : D.C. 1998. CQ Almanac, CQ Weekly Report, various issues 62 2003.12