Glass–Steagall Act

E1713

United States federal law banking regulation

The Glass–Steagall Act was a landmark U.S. banking law of the 1930s that separated commercial and investment banking to curb financial speculation and prevent future banking crises.

Aliases (4)

Statements (46)

Predicate	Object
instanceOf	United States federal law → banking regulation →
abbreviation	FDIC →
aimedAt	stabilizing the U.S. banking system →
alsoKnownAs	Banking Act of 1933 →
associatedWith	financial stability policies →
category	Great Depression in the United States → New Deal in the United States → United States banking legislation →
componentOf	New Deal legislation →
context	Great Depression →
coSponsor	Henry B. Steagall →
country	United States →
created	Federal Deposit Insurance Corporation →
debatedRegarding	relevance after late 20th century deregulation → role in preventing financial crises →
depositInsuranceCoverageInitial	$2,500 →
enactedIn	United States Congress →
field	banking law → financial regulation →
influenced	global approaches to bank separation → subsequent U.S. banking regulation →
inForceForDecades	yes →
introducedDepositInsurance	yes →
jurisdiction	United States federal government →
keyProvision	creation of federal deposit insurance → separation of commercial and investment banking activities →
longTermEffect	restructuring of U.S. banking industry →
namedAfter	Carter Glass → Henry B. Steagall →
presidentAtEnactment	Franklin D. Roosevelt →
prohibited	commercial banks from underwriting most securities → investment banks from taking deposits →
purpose	prevention of banking crises → reduction of financial speculation → separation of commercial and investment banking →
responseTo	bank failures of the early 1930s → stock market crash of 1929 →
restricted	affiliations between commercial banks and securities firms → securities activities of commercial banks →
separated	commercial banking → investment banking →
signedBy	Franklin D. Roosevelt →
sponsor	Carter Glass →
title	Glass–Steagall Act →
yearEnacted	1933 →

Referenced by (21)

Subject (surface form when different)	Predicate
Banking Act of 1935 → Emergency Banking Act ("Glass–Steagall Act of 1933") → Home Owners' Loan Act of 1933 →	relatedTo
73rd United States Congress → 73rd United States Congress ("Banking Act of 1933") →	enacted
Great Depression ("Banking Act of 1933") → Great Depression →	hasKeyEvent
Hundred Days (FDR) ("Glass–Steagall Act of 1933") → Hundred Days (FDR) ("Banking Act of 1933") →	hasKeyLegislation
Glass–Steagall Act ("Banking Act of 1933") →	alsoKnownAs
Federal Reserve Act of 1913 ("Banking Act of 1933") →	amendedBy
Henry B. Steagall →	coauthor
Banking Act of 1935 ("Banking Act of 1933") →	followed
Federal Deposit Insurance Corporation ("Banking Act of 1933") →	foundedByStatute
New Deal →	hasPart
Wall Street Crash of 1929 →	influenced
Henry B. Steagall →	notable work
Herbert Hoover administration ("Glass–Steagall Act of 1932") →	notableLegislation
Carter Glass →	notableWork
Gramm-Leach-Bliley Act of 1999 ("Glass-Steagall Act") →	repealsPartOf
Glass–Steagall Act →	title