ion. The distinction between commercial banks and thrift institutions has also been blurred. Thrift institutions are now permitted to engage in all retail banking activities, although not all thrifts avail themselves fully of such opportunities. Further, the narrowing (or, in some instances, the elimination) of interest rate ceilings between commercial banks and thrifts has resulted in a restructuring of the activities of the two institutional types (Klaman & Rubison, 1987, p. 22). There is little questioning of the contention that the banking and financial environment in 1990 is a dynamic one. The eventual structure of the American banking and financial system quite likely has not been defined as of the spring of 1990.
The effects of deregulation in the banking and financial sector in the 1980s encompassed far more significant activities than a mere shifting of business between the players. Failures, and bank runs also surfaced, and many mergers were negotiated and abetted by the Federal Deposit Insurance
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