1) (7pts) McFadden Act Select One Glass-Steagall Act Allowed mergers between com
ID: 1164892 • Letter: 1
Question
1) (7pts) McFadden Act Select One Glass-Steagall Act Allowed mergers between commercial banks and insurance companies or securities firms National Banking Set minimum capital requirements for banks around the world Allowed bank holding companies to provide various nonbank financial services Allowed interstate banking Act Placed a 10% tax on the issue of notes by state banks Required National Banks to follow the branching rules of the state in which they were located Forced the separation of commercial and investment banking Bank Holding Gramm-Leach- Bliley Act Select One Basel AccordSelect One Riegel-Neal Act Select OneExplanation / Answer
The basic definition of these acts
1. Required National banks to follow branching rules of the state in which they are located.
2. Forced the separation of commercial and investment banking
3. Placed a 10 % tax on the issue of notes by state bank
4. Allowed bank holding companies to provide various non-banking services
5. Allowed mergers between commercial banks and insurance companies or securities firms.
6.Set minimum capital requirements for banks around the world
7.Allowed interstate banking
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