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The Securities Activities Of Commercial Banks
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Book Synopsis Securities Activities of Commercial Banks by : Arnold W. Sametz
Download or read book Securities Activities of Commercial Banks written by Arnold W. Sametz and published by Free Press. This book was released on 1981 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Securities Publisher : ISBN 13 : Total Pages :464 pages Book Rating :4.:/5 (327 download)
Book Synopsis Securities Activities of Commercial Banks by : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Securities
Download or read book Securities Activities of Commercial Banks written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Securities and published by . This book was released on 1976 with total page 464 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Securities Activities of Commercial Banks by : Thomas G. Fischer
Download or read book The Securities Activities of Commercial Banks written by Thomas G. Fischer and published by . This book was released on 1985 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Securities Activities of Commercial Banks by : Arnold W. Sametz
Download or read book Securities Activities of Commercial Banks written by Arnold W. Sametz and published by . This book was released on 1981 with total page 191 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Securities Activities of Commercial Banks by : George G. Kaufman
Download or read book Securities Activities of Commercial Banks written by George G. Kaufman and published by . This book was released on 1988 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Securities Activities of Commercial Banks, Hearings Before the Subcommitteeon Securities of ...,94-1 ...,December 9 and 10,1975.110:1:United States by :
Download or read book Securities Activities of Commercial Banks, Hearings Before the Subcommitteeon Securities of ...,94-1 ...,December 9 and 10,1975.110:1:United States written by and published by . This book was released on 1975 with total page 472 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Separation of Commercial and Investment Banking by : George J. Benston
Download or read book Separation of Commercial and Investment Banking written by George J. Benston and published by Springer. This book was released on 1990-06-18 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt: The latest in a series of studies in banking and international finance. This book deals with all aspects of the Glass-Steagall Act, and the relationship between the commercial banks and the investment banks.
Book Synopsis The Securities Activities of Commercial Banks by : George G. Kaufman
Download or read book The Securities Activities of Commercial Banks written by George G. Kaufman and published by . This book was released on 1984 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Securities Publisher : ISBN 13 : Total Pages :1168 pages Book Rating :4.F/5 ( download)
Book Synopsis Brokerage and Related Commercial Bank Services by : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Securities
Download or read book Brokerage and Related Commercial Bank Services written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Securities and published by . This book was released on 1976 with total page 1168 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Securities Activities of Commercial Banks by : Thomas G. Fischer
Download or read book The Securities Activities of Commercial Banks written by Thomas G. Fischer and published by . This book was released on 1985 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Securities Publisher : ISBN 13 : Total Pages :596 pages Book Rating :4.3/5 (91 download)
Book Synopsis Securities Activities of Depository Institutions by : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Securities
Download or read book Securities Activities of Depository Institutions written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Securities and published by . This book was released on 1982 with total page 596 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Securities Publisher : ISBN 13 : Total Pages :1156 pages Book Rating :4.3/5 (91 download)
Book Synopsis Brokerage and Related Commercial Bank Services by : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Securities
Download or read book Brokerage and Related Commercial Bank Services written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Securities and published by . This book was released on 1976 with total page 1156 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Commercial Bank Securities Activities Before the Glass-Steagall Act by : Randall Kroszner
Download or read book Commercial Bank Securities Activities Before the Glass-Steagall Act written by Randall Kroszner and published by . This book was released on 1998 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates empirically whether the internal organization of the firm can play an important role in affecting a firm's ability to commit to a particular quality of business practices and, if so, whether competition would be sufficient to lead firms to adopt that structure. In particular, we study how commercial banks have developed quot;firewallsquot; to address potential conflicts of interest when they are also engaged in investment banking. Before the 1933 Glass-Steagall Act forced banks out of investment banking, commercial banks organized their securities activities in two ways: as an internal securities department within the bank and as a separately incorporated affiliate with its own board of directors.Although the internal departments underwrote seemingly higher quality firms and securities than did comparable affiliates, the departments obtained lower prices for the issues they underwrote. The greater risk premium associated with the internal department is consistent with investors discounting for the greater likelihood of conflicts of interest when lending and underwriting are within the same structure. Commercial banks responded to this pricing disadvantage for the internal departments by moving strongly toward adopting the separate affiliate structure during the period. We find that increasing the proportion of affiliate directors who are independent from the parent bank reduced the risk premium for the securities underwritten by the affiliate. Independent directors thus appear to have provided an important mechanism by which the affiliates could enhance their credibility in the market. Overall, our results suggest that organizational design can be an effective commitment device and, absent other distortions, competitive pressures would provide sufficient incentives for banks to adopt an organizational design that would address regulatory concerns about potential conflicts of interest.
Book Synopsis Securities Activities of Commercial Banks by : Arnold W. Sametz
Download or read book Securities Activities of Commercial Banks written by Arnold W. Sametz and published by . This book was released on 1979 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Securities Activities of Commercial Banks by : George G. Kaufman
Download or read book The Securities Activities of Commercial Banks written by George G. Kaufman and published by . This book was released on 1988 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Commercial Banks in the Securities Business by : João A. C. Santos
Download or read book Commercial Banks in the Securities Business written by João A. C. Santos and published by . This book was released on 1998 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Organization Structure and Credibility by : Randy Kroszner
Download or read book Organization Structure and Credibility written by Randy Kroszner and published by . This book was released on 1995 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates how organizational structure can affect a firm's ability to compete. In particular, we examine the two ways in which U.S. commercial banks organized their investment banking operations before the 1933 Glass-Steagall Act forced the banks to leave the securities business: as an internal securities department within the bank and as a separately incorporated and capitalized securities affiliate. We document a strong movement toward the use of the affiliate structure during the 1920s, and regulation does not appear to explain this evolution. While departments underwrote seemingly higher quality firms and securities than did comparable affiliates, the departments obtained lower prices for the issues they underwrote. This evidence is consistent with the hypothesis that there was a perception of potential conflicts of interest when lending and underwriting were closely combined in the departmental structure. We find evidence that bank managers during this period were concerned about such perceptions. We then develop further tests to support the view that by distancing underwriting activities from lending operations, banks could more credibly certify the quality of the issues they underwrote, thereby obtaining higher prices for them. Our results suggest that internal organization may indeed affect the activities and effectiveness of a firm. They also suggest that bank regulators' interest in 'firewalls' between commercial and investment banking may be reasonable, but that the market may propel banks to adopt an internal structure that would address regulators' concerns.