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Banking consolidation

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  • Simon Kwan

Abstract

Until this year, Citigroup was the only $1 trillion banking organization in the U.S. Now, there are two more—Bank of America has merged with FleetBoston, and J.P. Morgan Chase is about to complete its merger with Bank One. These megamergers are notable not only for their size but also for the geographic scope that the new institutions will serve. Indeed, they may signal the beginning of a process for building a truly national banking franchise. As mergers continue to shape the structure of the banking industry in the U.S., this Economic Letter looks at the economic drivers behind them and highlights some important policy implications.

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Bibliographic Info

Article provided by Federal Reserve Bank of San Francisco in its journal FRBSF Economic Letter.

Volume (Year): (2004)
Issue (Month): jun18 ()
Pages:

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Handle: RePEc:fip:fedfel:y:2004:i:jun18:n:2004-15

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Keywords: Bank mergers ; Banking market ; Bank competition;

References

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  1. Hughes, Joseph P. & Lang, William W. & Mester, Loretta J. & Moon, Choon-Geol, 1999. "The dollars and sense of bank consolidation," Journal of Banking & Finance, Elsevier, vol. 23(2-4), pages 291-324, February.
  2. Jalal D. Akhavein & Allen N. Berger & David B. Humphrey, 1996. "The Effects of Megamergers on Efficiency and Prices: Evidence from a Bank Profit Function," Center for Financial Institutions Working Papers 96-03, Wharton School Center for Financial Institutions, University of Pennsylvania.
  3. Simon H. Kwan & Elizabeth S. Laderman, 1999. "On the portfolio effects of financial convergence - a review of the literature," Economic Review, Federal Reserve Bank of San Francisco, pages 18-31.
  4. Fred Furlong, 2000. "The Gramm-Leach-Bliley Act and financial integration," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue mar31.
  5. Liz Laderman, 2003. "Good news on Twelfth District banking market concentration," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue oct24.
  6. Simon Kwan & Robert A. Eisenbeis, 1999. "Mergers of publicly traded banking organizations revisited," Economic Review, Federal Reserve Bank of Atlanta, issue Q4, pages 26-37.
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Cited by:
  1. Ahmad Bello, Dogarawa, 2006. "Challenges of Bank Consolidation to the Central Bank of Nigeria: A Descriptive Analysis," MPRA Paper 23198, University Library of Munich, Germany.

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