Banking Across State Lines: Public and Private Consequences

Greenwood Publishing Group, 1997 - 173 páginas

With full-service nationwide banking on the verge of becoming a reality in the U.S., here is a thoughtful analysis of how it emerged and what its effects will be. Dr. Rose is frankly skeptical. He sees advantages but he also predicts significant disadvantages, mainly in the form of possibly higher fees and reduced personal attention for consumers of banking services. His book provides the best summary available of the research findings to date and one of the best summaries of new federal interstate banking rules enacted by Congress and signed into law in 1994. This is an important book not only for executives engaged in government-relations work throughout the financial services industry, and for those engaged in marketing and strategic planning, but also for public policy people in the private and public sectors.

Dr. Rose opens his book with an overview of the trend in U.S. banking towards a consolidated banking system similar to those in other industrialized nations, particularly Canada, Great Britain, and Germany. He identifies causes of this movement toward consolidation, attributable to governmental interventions and the exigencies of the private sector marketplace. He reviews the long history of federal and state restrictions against interstate banking and then explains how laws passed in the 1990s are permitting giant nationwide banking companies to emerge. What does this mean for the public, bankers, and investors? Less than what people think and have hoped for. Dr. Rose warns that many of the benefits expected from interstate banking will probably be nonexistent or at best meager. His book will certainly prove to be a vital resource for anyone involved in the banking industry and for those who influence it.

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The Old and the New American Banking in Consolidation
Background to Interstate Banking Early Federal and State Interstate Banking Laws
The 1994 Interstate Banking Law and Its Implications for the Structure of US Banking
The Potential Benefits and Costs of Interstate Banking
The Research Evidence What Is Known About Interstate Bankings Effects?
How Bankers Evaluate Target Interstate Markets and Institutions Across State Lines
The Consequences of Interstate Banking for the Public the Regulatory Community and Banks Themselves
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Página 26 - To exercise by its board of directors, or duly authorized officers or agents, subject to law, all such incidental powers as shall be necessary to carry on the business of banking; by discounting and negotiating promissory notes, drafts, bills of exchange, and other evidences of debt...
Página 28 - The place where its operations of discount and deposit are to be carried on, designating the State, Territory, or district, and the particular county and city, town, or village.
Página 10 - US has been embodied in two pieces of legislation, the Depository Institutions Deregulation and Monetary Control Act of 1980, and the Garn-St Germain Depository Institutions Act of 1982.
Página 49 - USC 1828) is amended by adding at the end the following new subsection: "(r) SUBSIDIARY DEPOSITORY INSTITUTIONS AS AGENTS FOR CERTAIN AFFILIATES. — "(1) IN GENERAL.— Any bank subsidiary of a bank holding company may receive deposits, renew time deposits, close loans, service loans, and receive payments on loans and other obligations as an agent for a depository institution affiliate. "(2) BANK ACTING AS AGENT is NOT A BRANCH.— Notwithstanding any other provision of law, a bank acting as an...
Página 3 - The source of the branch figures is the Annual Statistical Digest published by the Board of Governors of the Federal Reserve System, with preliminary data for 1994. 4 Population data for 1980-93 arc from the US Department of Commerce (Bureau of Economic Analysis).
Página 5 - Reports of the Federal Deposit Insurance Corporation and statistical releases. Mergers and acquisitions data are from Stephen A. Rhoades, "Mergers and Acquisitions by Commercial Banks, 1960-1983,
Página 26 - ... and exercise under this act all such incidental powers as shall be necessary to carry on the business of banking by discounting and negotiating promissory notes, drafts, bills of exchange, and other evidences of debt ; by receiving deposits ; by buying and selling exchange, coin, and bullion; by loaning money on personal security...

Acerca del autor (1997)

PETER S. ROSE is Professor of Finance and Jeanne and John R. Blocker Professor of Business Administration at Texas A&M University. After serving as a financial economist with the Federal Reserve System, Dr. Rose turned to teaching more than two decades ago. He is author of nearly 200 articles and numerous scholarly books, textbooks, and other teaching materials, including Japanese Banking and Investment in the United States (1991) and The Interstate Banking Revolution (1989), both from Quorum.

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