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Chicago Fed Letter, No. 10, June 1988
Small States Teach a Big Banking Lesson

The remarkable performance by two small states—both are well under a million in population—is largely the result of legislation by the states themselves. The strategy has been to legislatively encourage bank holding companies from other states to establish subsidiaries in new and commercially attractive surroundings, bringing with them new jobs and higher tax receipts for South Dakota and Delaware.



Federal Reserve Bank of Chicago, 230 South LaSalle Street, Chicago, Illinois 60604-1413, USA. Tel. (312) 322-5322

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