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Glass-Steagall and the regulatory dialectic

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Abstract

An explanation of how the Glass-Steagall Act, passed to prohibit U.S. commercial banks from engaging in investment banking activities, has led to the same costly cat-and-mouse game between banks and their regulators as did the prohibition against interstate banking, and an argument that lawmakers should consider banks' incentives when crafting new regulations.

Suggested Citation

  • João A. C. Santos, 1996. "Glass-Steagall and the regulatory dialectic," Economic Commentary, Federal Reserve Bank of Cleveland, issue Feb.
    • Handle: RePEc:fip:fedcec:y:1996:i:feb15
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    Cited by:

    1. Jean-Charles Rochet, 2004. "Rebalancing the three pillars of Basel II," Economic Policy Review, Federal Reserve Bank of New York, issue Sep, pages 7-21.
    2. Paul Calem & James Follain, 2007. "Regulatory Capital Arbitrage and the Potential Competitive Impact of Basel II in the Market for Residential Mortgages," The Journal of Real Estate Finance and Economics, Springer, vol. 35(2), pages 197-219, August.

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    Keywords

    Banking Act of 1933;

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