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Reasons to be wary about banks’ commodity trading: Kemp

Posted on 23 October 2013

“Bank holding companies ought to confine their activities to the management and control of banks,” the Senate Banking Committee wrote in 1955, reporting favourably on legislation that eventually became the 1956 Bank Holding Company Act.
“Bank holding companies ought not to manage or control nonbanking assets having no close relationship to banking,” the committee went on. Bank holding companies were required to divest shares in nonbanking enterprises and forbidden to acquire new ones, with a few carefully limited exceptions………………………………………..Full Article: Source


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