"Based on our supervisory experience, it appears that banking organisations generally have adequate internal controls to help prevent illegal tying," Greenspan said in a written response to a question submitted in connection with a July 20 hearing held by the Senate Banking Committee.
In his response, which was released on Thursday, Greenspan said the Fed would "carefully consider" the views of the US Justice Department as it moves forward with a proposed interpretation of anti-tying provisions of US bank laws.
Among other concerns, the Justice Department had expressed worry the anti-tying provisions put banks at a disadvantage in markets where banks compete with other companies, he said. Greenspan added that the department had recommended the Fed adopt an interpretation of the restriction "consistent" with prohibitions faced by non-banks.
Greenspan said the Fed had decided to solicit public comment on anti-tying restrictions after receiving a number of inquiries that showed "some uncertainty ... as to what types of bank actions are prohibited." He noted that not all tying was restricted under the law.