Policy Watch: The Repeal of Glass-Steagall and the Advent of Broad Banking
分析了1999年《格拉姆-里奇-比利雷法案》废除银行与证券、保险业务分离禁令的原因，包括学术证据、美国部分放松管制的经验、国外全能银行实践及技术变革，并指出监管协调的挑战。
Enactment of the Gramm-Leach-Bliley Act (GLBA) in November 1999 effectively repealed the long-standing prohibitions on the mixing of banking with securities or insurance businesses and thus permits “broad banking.” We attribute repeal of these prohibitions to the increasingly persuasive evidence from academic studies of the pre-Glass-Steagall era, the recent favorable experience in the United States following partial deregulation of banking activities, the experience of banking systems abroad with broader scopes for banking activities, and rapid technological change in telecommunications and data processing. How regulators will in practice coordinate their efforts so that the safety and soundness of the banking system is maintained efficiently remains to be seen.