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Securities activities in banking conglomerates: should their location be regulated?

  • João dos Santos

A review of the arguments as to whether the location of the securities unit in a banking conglomerate should be subject to regulation. The author contends that correcting the safety nets distortions and allowing banks to choose where to locate their securities units is better than retaining such distortions and relying on corporate separateness to limit the problems they may create.

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Paper provided by Federal Reserve Bank of Cleveland in its series Working Paper with number 9704.

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Date of creation: 1997
Date of revision:
Handle: RePEc:fip:fedcwp:9704
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  1. Kareken, John H & Wallace, Neil, 1978. "Deposit Insurance and Bank Regulation: A Partial-Equilibrium Exposition," The Journal of Business, University of Chicago Press, vol. 51(3), pages 413-38, July.
  2. Petersen, Mitchell A & Rajan, Raghuram G, 1994. " The Benefits of Lending Relationships: Evidence from Small Business Data," Journal of Finance, American Finance Association, vol. 49(1), pages 3-37, March.
  3. Randall S. Kroszner & Raghuram G. Rajan, . "Organization Structure and Credibility: Evidence from Commercial Bank Securities Activities Before the Glass-Steagall Act," CRSP working papers 325, Center for Research in Security Prices, Graduate School of Business, University of Chicago.
  4. Berger, Allen N. & Hunter, William C. & Timme, Stephen G., 1993. "The efficiency of financial institutions: A review and preview of research past, present and future," Journal of Banking & Finance, Elsevier, vol. 17(2-3), pages 221-249, April.
  5. Dothan, Uri & Williams, Joseph, 1980. "Banks, bankruptcy, and public regulation," Journal of Banking & Finance, Elsevier, vol. 4(1), pages 65-87, March.
  6. Black, Fischer & Miller, Merton H & Posner, Richard A, 1978. "An Approach to the Regulation of Bank Holding Companies," The Journal of Business, University of Chicago Press, vol. 51(3), pages 379-412, July.
  7. Samuel B. Chase, 1988. "Insulating banks from risks run by nonbank affiliates," Proceedings 204, Federal Reserve Bank of Chicago.
  8. Merton, Robert C, 1978. "On the Cost of Deposit Insurance When There Are Surveillance Costs," The Journal of Business, University of Chicago Press, vol. 51(3), pages 439-52, July.
  9. Mark J. Flannery, 1986. "Contagious bank runs, financial structure and corporate separateness within a bank holding company," Proceedings 108, Federal Reserve Bank of Chicago.
  10. Joseph G. Haubrich, 1996. "Combining bank supervision and monetary policy," Economic Commentary, Federal Reserve Bank of Cleveland, issue Nov.
  11. Puri, Manju, 1994. "The long-term default performance of bank underwritten security issues," Journal of Banking & Finance, Elsevier, vol. 18(2), pages 397-418, January.
  12. Christine M. Cumming & Lawrence M. Sweet, 1987. "Financial structure of the G-10 countries: how does the United States compare?," Quarterly Review, Federal Reserve Bank of New York, issue Win, pages 14-25.
  13. Anna J. Schwartz, 1992. "The misuse of the Fed's discount window," Review, Federal Reserve Bank of St. Louis, issue Sep, pages 58-69.
  14. Puri, Manju, 1996. "Commercial banks in investment banking Conflict of interest or certification role?," Journal of Financial Economics, Elsevier, vol. 40(3), pages 373-401, March.
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