Create an account
Response: The National Banking Act of 1863
resulted in dual banking system and start of demand deposits
The McFadden Act of 1927 actually
Reduced diversification, Increased credit risk, Limited branching, Allowed inefficient banks to compete with efficient banks
Glass-Steagall Act intended to
Protect commercial bank depositors and Limit the concentration of financial power
Glass-Steagall Act's unexpected results
Protected investment banks from competition through an increased cost of issuing new securities
FDIC Helped restore confidence in the banking system and reduce bank runs/panics because
Banks are no longer concerned about adverse selection
Guarantees deposits at covered banks up to a limit and that Fed member banks must buy deposit insurance
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