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Spring 2001

ISSN 0890-913X

Volume 16, Number 2

Categories: Spring 2001

Consolidation in Banking and Financial Services : The Demise of Glass-Steagall

John C. Soper, John Carroll University

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ConsolidationinBankingandFinancialServices:TheDemiseofGlass-SteagallJohnC.SoperJohnCarrollUniversityWhatisthelong-runequilibriumstructureofthebankingindustryaftertheterminationoftheGlass-SteagallAct?Obviouslywedonotknowtheanswertothisquestionnow,butsomeintelligentspeculationmayilluminateourthinkingaboutthisquestionandleadustosomeusefulpredictionsaboutthefutureshapeoftheU.S.bankingindustry.Inaddition,theremaybeimplicationsbothforthemorebroadlydefinedfinancialservicessectorandfortheregulatoryapparatusthatseekstocontrolbankingandfinancialservicesingeneral.ConsolidationintheU.S.bankingindustryhasresultedinadeclinebymorethanfortypercentinthenumberofbankssince1984(Gunther,1996).1Althoughthereappearstobeareductionintherateofconsolidationdatingfrommid-1998,therecentterminationofmostoftheregulatoryprovisionsoftheGlass-SteagallActof1933suggeststhatthebankingindustryislikelytoseesignificantadditionalconsolidationinthenearfuture,sayoverthenextdecade.TheUnitedStatesstillhasaverylargenumberofbanks(8,604asofSeptember30,1999).ThismakesitlikelythatmanyoftheseinstitutionswillfindmergerpartnersinthebankingsectororinthebroaderfinancialservicessectorCincludinginsurancefirms,brokerages,investmentbanks,etc.Mergersofbankswithotherbanksmeanconsolidation.Mergersofbankswithnon-bankfinancialserviceprovidersmeanconvergence.1In1984therewereapproximately14,500banksintheU.S.BySeptember30,1999thenumberhadfallento8,604,adeclineofmorethan40%.

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Metadata [hide]

Title	Consolidation in Banking and Financial Services : The Demise of Glass-Steagall
Authors/Creators:	John C. Soper, John Carroll University
Year:	2001
Volume:	16
Number:	2
Pages:	91 - 102
Publisher:	The Association of Private Enterprise Education
ISSN:	0890-913X
Document Type:	Articles

Citation:
Soper, John C. / 2001. "Consolidation in Banking and Financial Services : The Demise of Glass-Steagall." The Journal of Private Enterprise, 16(2): 91-102.