Restructuring Financial Markets: The Major Policy Issues : a Report, Volumen4U.S. Government Printing Office, 1986 - 399 páginas |
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Términos y frases comunes
98th Congress affiliates argue assets bank holding companies bill billion borrowers brokers capital and credit Chairman Chapter cial commercial paper competitive concentration conflicts of interest Congress consolidation corporate credit flows customers deposit insurance depository institutions deregulation developments disclosure discussed economic effects Energy and Commerce equity Eurodollar expand FDIC Federal Reserve Board financial functions financial institutions financial markets financial sectors financial services financial services industry financial structure financial system foreign Glass-Steagall Glass-Steagall Act Ibid impact increase institutional investors insurance companies interest rate deregulation investment issues legislation liquidity loans long-term major managers ment Merrill Lynch monetary money market mortgage mortgage-backed securities mutual funds nancial nonbank bank nonfinancial offered pension funds percent problems proposals requirements restrictions restructuring result risk role Salomon Brothers savings securities firms securities markets securitized Senate short-term soundness structure and regulation Subcommittee tions transactions Treasury U.S. financial U.S. House underwriting
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Página 268 - There is no clear evidence from experience that the investment policy which is socially advantageous coincides with that which is most profitable.
Página 272 - They improve efficiency, transfer scarce resources to higher valued uses, and stimulate effective corporate management. They also help recapitalize firms so that their financial structures are more in line with prevailing market conditions. In addition, there is no eviden< that mergers and acquisitions have, on any systematic basis, caused anticompetitive price increases.
Página 69 - The greatest of such dangers is seen in the growth of "bank affiliates" which devote themselves in many cases to perilous underwriting operations, stock speculation, and maintaining a market for the banks' own stock, often largely with the resources of the parent bank.
Página 73 - ... [W]e were concerned about a movement that we felt could and probably would ultimately change the very face of American capitalism. This is known in Japan as the Zaibatsu arrangement. We feared that if this trend continued.
Página 279 - Credence in these conflicting hypotheses — as with all hypotheses — must rest on how well they stand up to empirical examination. However, since the new financially based futures and options markets have been functioning for only a short time and are, indeed, in a formative stage of development, it is not yet possible to conduct statistical tests that have convincing discretionary powers.
Página 69 - Mr. Owen D. Young, Chairman of the Board of the General Electric Company...
Página 309 - Management policy in this area is presently reinforced by various regulations of the Comptroller of the Currency, the Federal Reserve Board, the Federal Deposit Insurance Corporation, and State regulatory authorities.
Página 69 - The purpose is to refresh the public's recollection and to show why the Securities act of 1933, the Securities and Exchange act of 1934 and the Public Utility Holding Company act of 1935 were necessary and why attempts to eliminate them or modify their essential provisions should be vigorously opposed.
Página 206 - ... very real competitive advantage over one that cannot. In addition to favoring the business firm's customers, the bank might deny credit to competing firms or grant credit to other borrowers only on condition that they agree to do business with the affiliated firm. This is why ... if we allow the line between banking and commerce to be eased, we run the risk of cartelizing our economy. . . . Just as we have seen the country's largest banks join the new wave of one-bank holding companies, we could...
Página 71 - Camp, the Glass-Steagall Act reflected a "determination that policies of competition, convenience, or expertise which might otherwise support the entry of commercial banks into the investment banking business xere outweighed by the 'hazards...