Federal Reserve Approves Section 20 Subsidiaries for JP Morgan, Citicorp, and Bankers Trust
The Federal Reserve Board approved a pivotal regulatory decision allowing JP Morgan & Co., Citicorp, and Bankers Trust to establish Section 20 subsidiaries, marking a significant first breach in the Glass-Steagall Act’s separation of commercial and investment banking. The approval …
Federal Reserve Board
JP Morgan & Co.
Citicorp
Bankers Trust
Paul Volcker
+1 more
section-20-subsidiaries
glass-steagall-erosion
federal-reserve
securities-underwriting
regulatory-approval
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