A strong and vital United States Banking system is essential to the economic well being of this nation and, indeed, the economic stability of the world. Banks play a central role in international trade and finance and domestically provide the credit essential to the smooth flow of commerce. The importance of the role of banks in this country is underscored by the unique legal and regulatory framework in which they function. Because of this unique position, it is no small wonder that "the American people have repeatedly demonstrated their determination to have a sound system of banking."
Securities Industry Association,
Bank Securities Activities: Memorandum for Study and Discussion,
San Diego L. Rev.
Available at: https://digital.sandiego.edu/sdlr/vol14/iss4/2