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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 Some provisions have since been repealed, most notably: (i) allowing the Federal Reserve to regulate interest rates in savings accounts, and (ii) prohibiting a bank holding company from owning other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.

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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