Glass-Steagall-Erosion

Federal Reserve Expands Section 20 Powers to Include Corporate Debt Securities

1989-01-01 00:00:00 +0000 UTC | Importance: 9/10

The Federal Reserve Board dramatically expands Section 20 subsidiary powers, approving underwriting of corporate debt securities and increasing the revenue limit from bank-ineligible activities from 5% to 10%. This decision allows JP Morgan to become the first commercial bank to underwrite a …

Federal Reserve Board JP Morgan & Co. Section 20 subsidiaries section-20-expansion corporate-debt-underwriting jp-morgan regulatory-capture glass-steagall-erosion

Federal Reserve Approves Section 20 Subsidiaries for JP Morgan, Citicorp, and Bankers Trust

1987-04-01 00:00:00 +0000 UTC | Importance: 9/10

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 +1 more