Jp-Morgan

Federal Reserve Begins Systematic Dismantling of Glass-Steagall Restrictions

1990-01-01 00:00:00 +0000 UTC | Importance: 9/10

The Federal Reserve Board continues its incremental erosion of Glass-Steagall Act restrictions, approving expanded securities underwriting capabilities for JP Morgan & Co. Following a 3-2 vote in 1987 to ease regulations, the Fed systematically reinterprets Congressional banking separation laws. …

Federal Reserve Board Alan Greenspan JP Morgan & Co. Morgan Stanley corporate-stock-underwriting jp-morgan morgan-stanley glass-steagall-violation regulatory-capture +1 more

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