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The Case for Banking Deregulation

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Publication Date: March 1982

Publisher(s): Heritage Foundation (Washington, D.C.)

Author(s): Catherine England

Topic: Banking and finance (Banks and other financial institutions)

Keywords: Economy

Type: Report

Abstract:

While complete catastrophe is very unlikely, American financial institutions are facing a crisis unprecendented since the early 1930s. Savings and loan associations have been particularly hard hit. Holding almost $700 billion in deposits, these institutions were expected to suffer collective losses of $5 billion in 1981 with 75 percent of the S & Ls and savings banks incurring operating losses during the year. Unless economic conditions change dreastically or some action is taken soon, catastrophe on a lesser scale is sure to overtake the industry.