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Published in:
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2020 | OriginalPaper | Chapter

1. Overview of the US Banking System

Author : Felix I. Lessambo

Published in: The U.S. Banking System

Publisher: Springer International Publishing

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Abstract

The American bank regulatory system is based upon the concept of dual oversight by federal and state agencies, and the primary regulators differ based upon a specific bank’s charter. The total assets held by the US banks reached a peak of $17.5 trillion. Most Americans use depository financial institutions—such as commercial banks, savings, and loan associations, and credit unions—to conduct their financial transactions.

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Footnotes
1
Richard Sylla: The US Banking System: Origin, Development, and Regulation, the Gilder Lehrman Institute of American History (2009–2019).
 
2
Richard Sylla: The US Banking System: Origin, Development, and Regulation, the Gilder Lehrman Institute of American History (2009–2019).
 
3
Federal Reserve Bank of San Francisco (2002): How Does the US Banking System Compare with Foreign Banking Systems?
 
4
US Department of the Treasury (2017): A Financial System That Creates Economic Opportunities: Banks and Credit Unions, p. 21.
 
5
Danielle Myles, “Top 1000 World Banks 2018,” The Banker, July 2, 2018.
 
6
F.M Scherer (2014): The Banking Industry, Harvard Kennedy School, p. 8.
 
7
Statement of Steven M. D’Antuono Section Chief Criminal Investigative Division Federal Bureau of Investigation Department of Justice Before the Committee on Banking, Housing, and Urban Affairs United States Senate For a Hearing Entitled “Combating Money Laundering and Other Forms of Illicit Finance: Regulator and Law Enforcement Perspectives on Reform” (November 29, 2018), pp. 2–3.
 
8
U.S. Department of the Treasury (2017): A Financial System That Creates Economic Opportunities—Banks and Credit Unions, p. 5.
 
9
U.S. Department of the Treasury (2017): A Financial System That Creates Economic Opportunities—Banks and Credit Unions, p. 5.
 
10
U.S. Department of the Treasury (2017): A Financial System That Creates Economic Opportunities—Banks and Credit Unions, p. 5.
U.S. Department of the Treasury (2017): A Financial System That Creates Economic Opportunities—Banks and Credit Unions, p. 5
 
11
Matthew Johnston (June 25, 2019): History of the Banking Industry in the US.
 
12
J. Van Fenstermaker (1965): The Development of American Commercial Banking.
 
13
F.M Scherer (2014): The Banking Industry, Harvard Kennedy School, p. 31.
 
Metadata
Title
Overview of the US Banking System
Author
Felix I. Lessambo
Copyright Year
2020
Book
The U.S. Banking System

Print ISBN: 978-3-030-34791-8

Electronic ISBN: 978-3-030-34792-5

Copyright Year: 2020

DOI
https://doi.org/10.1007/978-3-030-34792-5_1