Banking reforms of 1982—1987 in the U.S.A.: outset of the “interstate revolution”

The article is focused on one of the most important tendencies in the U.S. banking system during the 1980s, namely gradual easing of traditional bans on interstate mergers and acquisitions. The author analyses basic federal documents, which led to such changes (The Garn — St. Germain Act of 1982 and Competitive Equality Banking Act of 1987) as well as series of regional juridical innovations. In addition, the author examines statistical data that enables him to estimate scale and direction of following changes in banking industry. In particular, it is shown that new legislation contributed to dramatic divergence among several cities in their banking positions. On the other hand, the author argues that such stratification was just initial and moderate one in comparison with later transformations, based on the Riegle — Neal Act of 1994.