Identify the Action Taken by OCC and the Federal Reserve

question 34

Multiple Choice

Identify the action taken by OCC and the Federal Reserve in 1997, to expand the permitted activities of bank holding companies.

• A)Repealed the Glass-Steagall barriers between commercial banking and investment banking.
• B)Allowed commercial banks to acquire directly existing investment banks.
• C)Allowed investment banks to offer banking products.
• D)Allowed investment banks to offer deposit products.
• E)All of the above.

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Definitions:

Severe Recession

is a prolonged period of economic decline significantly worse than a standard recession, marked by high unemployment, low consumer spending, and business failures.

Divorce Rates

The statistical measure of the number of divorces occurring among the population within a certain time frame, often per 1,000 inhabitants.

Out-Of-Wedlock Children

Children born to parents who are not legally married to each other.

Long Term Separation

A period where individuals are distanced from each other for an extended time, often referring to family or partners due to various reasons like work or marital issues.