Question

The Banking Act of 1933 accomplished the following: A. Prohibited commercial banks from underwriting or trading (for their own account) stocks, bonds, or other risky securities. The major exceptions were U.S. government securities, general obligation bonds of state and local governments, and bank securities such as CDs. B. Limited the debt securities that commercial banks could purchase for their own account to those approved by bank regulatory authorities. C. Prohibited individuals and firms engaged in investment banking from simultaneously engaging in commercial banking. D. all of the above. E. A and B only.

Answer 1

C,)Prohibited individuals and firms engaged in investment banking from simultaneously engaging in commercial banking.

Step-by-step explanation:

The Banking Act of 1933 can be regarded as an act that set up Federal Deposit Insurance Corporation and brings about some banking reforms.

United States Congress was responsible for enaction of this statue

The passage of this bill took place

during the Great Depression which is set up to bring stability and restoration in banking system of U.S. It should be noted that Banking Act of 1933 accomplished prohibited individuals and firms engaged in investment banking from simultaneously engaging in commercial banking.