The two nations that have gone furthest with "universal banking" are
A) the United States and the United Kingdom.
B) the United Kingdom and Germany.
C) Germany and Japan.
D) the United States and Japan.

Question

Quizplus · Accepted Answer

Universal banking refers to a banking system where banks engage in both commercial banking and investment banking activities. While the United States and Japan have some degree of universal banking, the two nations that have gone furthest with this system are the United Kingdom and Germany. Universal banking is especially prevalent in Germany, where many of the largest banks have significant stakes in industrial firms, and in the United Kingdom, where leading banks have increasingly expanded into investment banking and asset management.

The Two Nations That Have Gone Furthest with "Universal Banking