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Home > QFINANCE Dictionary > Definition of Glass–Steagall Act

Definition of

Glass–Steagall Act

Regulation & Compliance

US law separating banking and brokerage industries in the United States, a law enacted in 1933 that enforces the separation of the banking and brokerage industries. Some provisions have since been repealed, most notably: (i) allowing the Federal Reserve to regulate interest rates in savings accounts, and (ii) prohibiting a bank holding company from owning other financial companies.

Glass–Steagall Act - Related Articles
  • Banks “Planning for Failure”—Living Wills as Resolution and Recovery Plans


    Such a radical move would be reminiscent of the changes instigated by the imposition in the United States of the Glass–Steagall Act of 1933, which enforced the separation of banking and broking activities.

  • Risk Management Revisited

    Best Practice

    They also affect us at the micro level, in terms of what we are not told: even the largest shareholders in publicly quoted companies can only “see through a glass darkly” into the machinations of corporations through the dimly lit and narrow apertures of shareholders’ meetings and infrequent meetings
    By Duncan Hughes

  • Goldman Sachs, the Symbol and Essence of What Went Wrong with Western Capitalism


    best.” Perhaps it’s only a matter of time. After all, after the crash of 1929 it took until the mid-1930s before the Glass–Steagall Act was enacted.
    By James Anderson

  • Bringing Trust Back to Wall Street


    Rather than re-enact the Glass–Steagall Act—which separated underwriting from lending in the wake of the crash of 1929—the Obama administration should bring in legislation that separates agency and money-management business from proprietary trading business.
    By Bill Hambrecht


Definitions of ’Glass–Steagall Act’ and meaning of ’Glass–Steagall Act’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’Glass–Steagall Act’ and other financial terms with our online QFINANCE Financial Dictionary.

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