Impact on U.S. Banking and Finance
The banking structure in the United States is unique in many respects. The primary jurisdiction of each of the fifty states has yielded fifty different state banking systems, each with its own rules on branching, ease of entry for new banking entities, and degree of monopolistic concentration. At one extreme stand New York and California with highly competitive banking market structures. At the opposite extreme are a number of states which do not permit any branch banking and in which exist pockets of geographically separated non-competing banking markets. This latter category of state banking system generally does not permit foreign banking corporations to operate within its borders and does not permit control of state banks by foreign shareholders.
KeywordsFederal Reserve Credit Market Money Market Real Estate Investment Trust Foreign Bank
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