Geographic restrictions on commercial banking in the United States

목차 (Table of Contents)

• CONTENTS
• Preface = ⅰ
• Paricipating Federal Agencies = ⅱ
• The Report of the President on Geographic Restrictions on Commercial Banking in the United States
• Appendix : A Compendium of Research on Branch Banking
• 1. An Overview of Branch Banking Issues, Findings and Policy Optioins = 1
• Background on Bank Branching Policy = 2
• The McFadden Act of 1927 = 2
• The Banking Act of 1933 = 2
• The 1956 Douglas Amendment = 3
• The Impact of McFadden on Financial Markets = 4
• MultiBank Holding Companies = 4
• Nonbanking Activities of BHCs = 4
• Loan Production Offices = 5
• Edge Act Corporations = 6
• Foreign Bank Organizations = 7
• Electronic Banking Facilities = 8
• NonBank Depository Institutions = 9
• NonDepository Institutions = 11
• Analysis of Broad Policy Issues and Empirical Evidence of the Effects of Branching = 12
• Operating Efficiency = 13
• Credit Availability = 14
• Competition and Concentration = 15
• Undue Concentration = 18
• Safety and Soundness = 19
• Convenience and Needs = 20
• Small Banks = 21
• Dual Banking = 22
• Broad Policy Options = 24
• Maintain the Status Quo = 25
• Expansion with Geographic Limitations = 26
• Permit Branching for NonHousehold Services Only = 28
• Liberalize EFT Terminal Deployment = 30
• Interstate Expansion of Bank Holding Companies = 31
• Authorize Unrestricted Branching Nationwide = 33
• Appendix A to Chapter 1 : previous Policy Recommendations
• 2. Competition and Concentration in Commercials Banking = 34
• Original Purposes of McFadden Act Constraints = 34
• Market and Political Forces Affecting Current Interest In Exploring Changes to the McFadden Act = 35
• Outline of the Analysis = 36
• Review of Existing Trends in Banking Structure and Concentration = 36
• Branch Banking = 36
• Banking Concentration = 43
• The Impact of Removing Limitations on Geographic Expansion of Banks and Bank Holding Companies = 49
• Nationwide Banking and Concentration = 49
• The Effects of Liberalizing Branching and Bank Holding Company Expansion on Competition = 54
• Full Liberalization : Potential Costs = 59
• Aggregate Nationwide Concentration = 59
• Intermarket Contacts and Links = 59
• Analysis of Proposed Policy Options = 66
• Status Quo = 66
• Selective Relaxation of Geographic Restrictions = 67
• Product Line or Functions = 69
• Acquisition versus De Novo Entry = 70
• Branching versus Bank Holding Company Expansion = 71
• Summary = 73
• 3. NonBank Organizations and the McFadden Act = 74
• The Definition of Banking Services = 74
• Growth of NonBanks = 75
• Provision of Banking Services = 75
• Depository Institutions = 75
• NonDepository Institutions = 78
• Evaluation of Removal of Interstate Branching Restraints for Mortgage Banking and Consumer Finance Markets = 85
• Descriptive Legal Analysis = 87
• Mutual Savings Banks = 87
• Savings and Loan Associations = 88
• Credit Unions = 88
• Other Financial Intermediaries = 89
• NonBank Competition and Geographic Restrictions = 90
• The Current Environment = 91
• Regulatory and Market Trends = 91
• Analysis of Proposed Policy Options = 92
• Framework for Evaluation = 93
• Maintain the Status Quo = 94
• Subject All Banking Services to McFadden = 95
• Remove All Geographic Restrictions on All Institutions = 96
• Liberalization of Current Geographic Restrictions = 96
• Implementation Considerations = 99
• 4. Economies of Scale, Operating Efficiencies, and the Organizational Structure of Banks = 102
• Bank Economies of Scale = 102
• Bank Operating Efficiencies = 105
• Policy Implications = 108
• Implications for Banking Industry Efficiency and Structure = 109
• Assessment of the Policy Options = 110
• The Status Quo versus Broader Multi-Office Banking Authority = 111
• Selective Relaxation of Geographic Restrictions Conclusions = 112
• 5. Multi-Office Banking and the Safety and Soundness of Commercial Banks = 115
• Bank Safety and Soundness = 117
• Bank Failures = 118
• Problem Banks = 118
• Other Evidence = 123
• Policy Implications and Options = 125
• The Status Quo versus Broader Multi-Office Banking Authority = 127
• Selective Relaxation of Geographic Restrictions = 128
• Conclusions = 131
• 6. The Impact of Bank Structure on Service to Local Communities and Other Considerations = 132
• Bank Service to Local Communities = 133
• Availability of Commercial Banks and Their Offices = 133
• Availability of Bank Services = 136
• Availability of Bank Credit = 138
• Bank Performance in Local Markets = 143
• Conclusions = 145
• Small and Medium Size Commercial Banks in the U.S. = 146
• Structural and Organizational Characteristics of U.S. Banks = 146
• The Ability to Survive and Prosper = 160
• Conclusions = 162
• General Economic, Political and Social Considerations = 162
• Effects of Size on Bank Safety and Soundness = 162
• Effects of Size on General Economic-Political-Social Structure = 165
• Conclusions = 167
• Policy Implications and Options = 167
• General Implications = 168
• The Status Quo versus Broader Multi-Office Banking Authority = 169
• Selective Relaxation of Geographic Restrictions = 171
• Conclusions = 173
• 7. The McFadden Act and the Dual Banking System = 175
• The Evolving Dual Banking System = 175
• Branching and Acquisition Constraints = 179
• The Legislative History = 181
• Branching and Bank Acquisitions : Some Reform Alternatives and Dual Banking = 190
• Statewide Branching = 191
• Geographically Limited Expansion = 191
• Branches and Electronic Facilities = 192
• Acquisitions Across State Lines = 192
• National Banks Only = 193
• Conclusions = 194
• 8. Foreign Banks in the U.S. and the McFadden Act = 196
• Growth of Foreign Banks in the U.S. = 196
• Types of Offices and Activities = 199
• Agencies = 199
• Investment Companies (New York) = 200
• Branches = 200
• Subsidiary／Affiliate = 200
• Legal Environment for Foreign Banks = 201
• The McFadden Act of 1927 = 201
• The Douglas Amendment to the BHC Act of 1956 = 204
• The Edge Act (1919) = 205
• The International Banking Act of 1978 = 207
• State Statutes on Branching and Foreign Banks = 209
• Branching and Foreign Banks = 209
• Description of Foreign Banking Operations in the U.S. = 214
• Types of Activities = 214
• Balance Sheet Analysis of Foreign Banks = 215
• Asset Structure = 215
• Liability Structure = 216
• Foreign Bank Acquisition of U.S. Banks = 217
• Attractiveness of U.S. Banks to Foreign Banks = 217
• Extent of the Foreign Acquisitions Phenomenon = 218
• Foreign Bank Acquisitions and the McFadden Issue = 219
• Summary and Conclusions = 219
• Framework for Policy Options Analysis = 220
• Contribution to Competition and Efficiency = 220
• Foreign Banks and the McFadden Policy Options = 221
• Maintain the Status Quo = 221
• Allow Interstate Branching : Repeal McFadden = 221
• Removal of All Restrictions on Geographic Expansion = 224
• Partial Liberalization of Current Geographic Restrictions = 224
• Appendix A to Chapter 8
• A Review of State Statutes Governing Foreign Banks and Branching
• Appendix B to Chapter 8
• Standard Metropolitan Statistical Areas that are in Two or More States: Populations and Bank Deposits
• Attachments
• List of Tables = A.1
• List of Research Papers Submitted by Participating Federal Agencies = A.3