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Related Flashcards
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Cards In This Set
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Federal Reserve Act (1913)
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Created the Federal Reserve System
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McFadden Act of 1927
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Effectively prohibited banks from banking across state lines.
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Banking Acts of 1933 (Glass-Steagall) and 1935
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-Created the FDIC-Separated commercial banking from the securities industry-Prohibited interest on checkable deposit and restricted such deposits to commercial banks-Put interest-rate ceilings on other deposits
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Bank Holding Company Act and Douglas Amendment (1956)(2 features)
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Clarified the status of bank holding companies (BHCs)Gave the Federal Reserve regulatory responsibility for BHCs
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Depository Institutions Deregulation and Monetary Control Act (DIDMCA) of 1980 Gave
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-Gave thrift institutions wider latitude in activities-Approved NOW and sweep accounts nationwide-Phased out interest-rate ceilings on deposits -Imposed uniform reserve requirements on depository institutions-Eliminated usury ceilings on loans-Increased deposit insurance to $100,00 per account
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Depository Institutions Act of 1982(Garn--St. Germain)
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-Gave the FDIC and the FSLIC emergency powers to merge banks and thrifts across state lines-Allowed depository institutions to offer money market deposit accounts (MMDAs)-Granted thrifts wider latitude in commercial and consumer lending
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Competitive Equality in Banking Act (CEBA) of 1987
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Provided $10.8 billion to the FSLICMade provisions for regulatory forbearance in depressed areas
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Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) of 1989
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-Provided funds to resolve S&L failures-Eliminated the FSLIC and the Federal Home Loan Bank Board-Created the Office of Thrift Supervision to regulate thrifts-Created the Resolution Trust Corporation to resolve insolvent thrifts-Raised deposit insurance premiums-Reimposed restrictions on S&L activities
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Federal Deposit Insurance Corporations Improvement Act (FDICIA) of 1991
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-Recapitalized the FDIC-Limited brokered deposit and the too-big-to-fail -policy-Set provisions for prompt corrective action-Instructed the FDIC to establish risk-based premiums-Increased examinations capital requirements, and reporting requirements
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Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994
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-Overturned prohibition of interstate banking-Allowed branching across
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Gramm-Leach-Bliley Financial Services Modernization Act of 1999
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Repealed Glass-Steagall and removed the separation of banking and securities industries
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Federal Deopsit Insurance Reform Act of 2005
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-Merged the Bank Insurance Fund and the Savings Association Insurance Fund-Increased deposit insurance on individual retirement accounts to $250,000 per account-Allowed for future automatic adjustments to the insurance limits based on inflation-Authorized FDIC to revise its system of risk-based premiums
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Economic analyses of the eight financial system puzzles indicate that our financial structure is best understood as a response to the problems of adverse selection, moral hazard and __________
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Transactions costs
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When the quality of information about firms is better, asymmetric information problems will be less severe. Thus, it will be easier for firms to issue ______________, rather than obtaining external finance through __________________
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Securities, equities, stocks, bonds,
bank loans,financial intermediaries |
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The Two most common conflict interests abuses in mutual funds in 2003 and 2004 were ________ and ___________
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Late trading
Market timing |
