Journal Article
Banking consolidation
Abstract: Until this year, Citigroup was the only $1 trillion banking organization in the U.S. Now, there are two more?Bank of America has merged with FleetBoston, and J.P. Morgan Chase is about to complete its merger with Bank One. These megamergers are notable not only for their size but also for the geographic scope that the new institutions will serve. Indeed, they may signal the beginning of a process for building a truly national banking franchise. As mergers continue to shape the structure of the banking industry in the U.S., this Economic Letter looks at the economic drivers behind them and highlights some important policy implications.
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Bibliographic Information
Provider: Federal Reserve Bank of San Francisco
Part of Series: FRBSF Economic Letter
Publication Date: 2004
Order Number: 15