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Chapter 11: Q. 20 (page 316)

What has been the likely effect of the Gramm-Leach Bliley Act on financial consolidation?

Short Answer

Expert verified

This regulation further invigorated the monetary solidification of the financial business. In this way, more monetary consolidations are probably going to happen, which will increment both the size and intricacy of monetary organizations later on.

Step by step solution

01

Concept Introduction 

The Gramm-Leach-Bliley Act (GLBA), passed by US congress in 1999 eliminated the different obstacles and limitations available, particularly of the financial business.

02

Explanation 

Every one of the huge banks needed this demonstration to be breathed easy to support both saving and speculation of the economy. Whenever this act was passed, the financial business united further. This regulation further invigorated the monetary solidification of the financial business. In this way, more monetary consolidations are probably going to happen, which will increment both the size and intricacy of monetary organizations later on.

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Most popular questions from this chapter

Go to the St. Louis Federal Reserve FRED database, and find data on the level of money market mutual fund assets (MMMFFAQ027S). Download the data into a spreadsheet.

a. When did assets start entering money market mutual funds? What was the total worth of assets in money market mutual funds at the end of 1970?

b. For each decade period, calculate the total percentage change in assets from the beginning of the decade to the end of the decade: 1980:Q1鈥�1990:Q1; 1990:Q1鈥�2000:Q1; 2000:Q1鈥�2010:Q1. For each decade period, divide the total percentage change by 10 to get the average yearly percentage increase. Which decade had the largest average yearly growth in money market mutual funds?

c. Calculate the growth rate from the most recent quarter of data available to the same quarter a year prior. How does this growth rate compare to the highest average yearly growth rate for the decades from part b?

Given the role of the loan originator in the securitization process of a mortgage loan described in the text, do you think the loan originator will be worried about the ability of a household to meet its monthly mortgage payments?

Why does the United States operate under a dual banking system?

If the bank at which you keep your checking account is owned by foreigners, should you worry that your deposits are less safe than if the bank were owned by Americans?

Why did new technology make it harder to enforce limitations on bank branching?
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