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Capital market reaction to the announcement of interstate banking legislation

Author: Hawawini, Gabriel ; Swary, Itzhak ; Hwan Jang, IkINSEAD Area: Finance Series: Working Paper ; 90/41/FIN/EPS Publisher: Fontainebleau : INSEAD, 1990.Language: EnglishDescription: 27 p.Type of document: INSEAD Working Paper Online Access: Click here Abstract: Measures like the McFadden Act of 1927, the Banking Act of 1933 and the Douglas Amendment to the Bank Holding Company Act of 1956 (BHCA) brought restrictions to interstate branch banking activities. These restrictions have been the primary determinants of the structure of commercial banking industry in the United States. Banking organizations, however have employed several devices in recent years to circumvent the hindering obstacles to the provision of banking services across state borders. The first statute permitting entry to out-of-state BHCs was enacted in 1975 by Maine. In 1982, Massachusetts adopted a New England regional reciprocal law. By the end of 1988, 42 states had enacted provisions allowing for entry by out-of-state BHCsThese provisions have led to farreaching changes in the structure of the commercial banking industry, including: a redefinition of the market for banking services; increased investment opportunities; opportunities to exploit economies of scale and economies of scope..
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Measures like the McFadden Act of 1927, the Banking Act of 1933 and the Douglas Amendment to the Bank Holding Company Act of 1956 (BHCA) brought restrictions to interstate branch banking activities. These restrictions have been the primary determinants of the structure of commercial banking industry in the United States. Banking organizations, however have employed several devices in recent years to circumvent the hindering obstacles to the provision of banking services across state borders. The first statute permitting entry to out-of-state BHCs was enacted in 1975 by Maine. In 1982, Massachusetts adopted a New England regional reciprocal law. By the end of 1988, 42 states had enacted provisions allowing for entry by out-of-state BHCsThese provisions have led to farreaching changes in the structure of the commercial banking industry, including: a redefinition of the market for banking services; increased investment opportunities; opportunities to exploit economies of scale and economies of scope..

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