One of the primary reasons that U.S. investment banks were allowed to convert to bank holding companies during the recent financial crisis was recognition that

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One of the primary reasons for allowing investment banks to convert to bank holding companies during the financial crisis was to mitigate their funding risks by providing them with the cushion of bank deposits. This was particularly important because investment banks were engaged in risky activities that had contributed to the crisis, and they needed a more stable source of funding to maintain their operations. By qualifying as bank holding companies, they were able to access the support of the Federal Reserve and the ability to accept insured deposits.

One of the Primary Reasons That U