Glass-Steagall Act

1933 Congressional law which authorized deposit Insurance and prohibited commercial banks from owning Brokerage. The latter rule has softened, and many banks NOW own discount Broker, Sell mutual Fund, and participate in Underwriting.

Related Terms: 13 Authorize, Broker, Brokerage, Commercial bank, Discount broker, Fund, Insurance, Merc, Mutual fund, NOW, Own, Sell, Underwriting

Other Related Pages: Category: Insurance Starting With: G

Additional Related Terms: 10-K, 12b-1 funds, 30-day wash rule, Agent bank, Automatic Funds Transfer, Above par, Accrual of discount, Accrued market discount, Amortization of premium, At par