Banking/Timelines: Difference between revisions
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1863 US National Bank Act sets minimum reserve ratios | 1863 US National Bank Act sets minimum reserve ratios | ||
1866 Overend-Gurney collapse causes banking panic [http://www.ehs.org.uk/ehs/conference2003/assets/Taylor.doc] | |||
1890 Barings crisis. Bank of England organises rescue of Barings bank by Rothschilds | |||
1913 US National Reserve Act creates the [[Federal Reserve System]] | 1913 US National Reserve Act creates the [[Federal Reserve System]] | ||
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1930-33 [[Great Depression in the United States#Banking Crises (1930 - 33)| The Banking crises of the Great Depression]] | 1930-33 [[Great Depression in the United States#Banking Crises (1930 - 33)| The Banking crises of the Great Depression]] | ||
1933 US The Glass-Steagall Act [http://www.pbs.org/wgbh/pages/frontline/shows/wallstreet/weill/demise.html] | 1933 The Banking Act of 1933 creates The Federal Deposit Insurance Corporation[http://www.fdic.gov/about/learn/learning/when/1930s.html] | ||
:US The Glass-Steagall Act [http://www.pbs.org/wgbh/pages/frontline/shows/wallstreet/weill/demise.html] | |||
1980 US Depository Institutions Deregulation and Monetary Control Act[http://www.bos.frb.org/about/pubs/deposito.pdf] | 1980 US Depository Institutions Deregulation and Monetary Control Act[http://www.bos.frb.org/about/pubs/deposito.pdf] | ||
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1989 US Financial Institutions Reform, Recovery, and Enforcement Act[http://www.fdic.gov/regulations/laws/rules/8000-3100.html] | 1989 US Financial Institutions Reform, Recovery, and Enforcement Act[http://www.fdic.gov/regulations/laws/rules/8000-3100.html] | ||
1995 UK Barings bank failure [http://spot.colorado.edu/~kaplan/econ4111/section8-Barings.html]. | |||
1999 US Gramm-Leach-Bliley Act[http://banking.senate.gov/conf/] - repealed the Glass Steagall Act of 1933, and introduced other changes including expanding the Federal Home Loan Bank System. | 1999 US Gramm-Leach-Bliley Act[http://banking.senate.gov/conf/] - repealed the Glass Steagall Act of 1933, and introduced other changes including expanding the Federal Home Loan Bank System. | ||
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2006 Basel II[http://www.bis.org/publ/bcbsca.htm] (Revised International Capital Framework) | 2006 Basel II[http://www.bis.org/publ/bcbsca.htm] (Revised International Capital Framework) | ||
2007 French bank BNP Paribas freezes funds because it is .unable to value its US mortgage-backed assets. [http://invest.bnpparibas.com/en/news/default.asp?Code=LPOI-75W9PV] | |||
2008 | |||
:[[Bank failures and rescues/Timelines#2008|Bank failures and rescues]] | |||
:Bear Stearns bought by J P Morgan Chase & Co for $2 a share[http://www.marketwatch.com/story/jp-morgan-to-buy-bear-stearns-for-2-a-share] [http://www.reuters.com/article/topNews/idUSN1438968020080315] (with $30 billion support from the Federal Reserve) | |||
:Bank of England announces its Special Liquidity Scheme[http://www.bankofengland.co.uk/publications/news/2008/029.htm] (to allow banks to swap temporarily their high quality mortgage-backed and other securities for UK Treasury Bills) | |||
:Lehman Brothers becomes bankrupt [http://www.lehman.com/press/pdf_2008/091508_lbhi_chapter11_announce.pdf] with losses of $365 billion to insurers of its bonds. | |||
2009 | 2009 | ||
UK Banking Act 2009[http://www.opsi.gov.uk/acts/acts2009/pdf/ukpga_20090001_en.pdf] (including the Special Resolution Regime[[http://www.hm-treasury.gov.uk/bankingact09_buildingsocieties_order.htm] | :[[Bank failures and rescues/Timelines#2009|More bank failures and rescues]] | ||
:UK Banking Act 2009[http://www.opsi.gov.uk/acts/acts2009/pdf/ukpga_20090001_en.pdf] (including the Special Resolution Regime[[http://www.hm-treasury.gov.uk/bankingact09_buildingsocieties_order.htm] | |||
: "Basel 3": Enhancements to the Basel II framework[http://www.bis.org/press/p090713.htm][http://www.bis.org/publ/bcbs157.pdf?noframes=1] | : "Basel 3": Enhancements to the Basel II framework[http://www.bis.org/press/p090713.htm][http://www.bis.org/publ/bcbs157.pdf?noframes=1] | ||
Revision as of 11:05, 23 January 2010
1244 Genoa's Leccacorvo bank[1]
1609 Amsterdam Wisselbank founded[2] - the first central bank.
1694 Formation of the Bank of England[3]
1863 US National Bank Act sets minimum reserve ratios
1866 Overend-Gurney collapse causes banking panic [4]
1890 Barings crisis. Bank of England organises rescue of Barings bank by Rothschilds
1913 US National Reserve Act creates the Federal Reserve System
1930-33 The Banking crises of the Great Depression
1933 The Banking Act of 1933 creates The Federal Deposit Insurance Corporation[5]
- US The Glass-Steagall Act [6]
1980 US Depository Institutions Deregulation and Monetary Control Act[7]
1986 UK Building Societies Act[8]
1988 Basel I[9] (The Basel Capital Accord)
1989 US Financial Institutions Reform, Recovery, and Enforcement Act[10]
1995 UK Barings bank failure [11].
1999 US Gramm-Leach-Bliley Act[12] - repealed the Glass Steagall Act of 1933, and introduced other changes including expanding the Federal Home Loan Bank System.
2002 US Sarbanes-Oxley Act[13][14]
2006 Basel II[15] (Revised International Capital Framework)
2007 French bank BNP Paribas freezes funds because it is .unable to value its US mortgage-backed assets. [16]
2008
- Bear Stearns bought by J P Morgan Chase & Co for $2 a share[17] [18] (with $30 billion support from the Federal Reserve)
- Bank of England announces its Special Liquidity Scheme[19] (to allow banks to swap temporarily their high quality mortgage-backed and other securities for UK Treasury Bills)
- Lehman Brothers becomes bankrupt [20] with losses of $365 billion to insurers of its bonds.
2009
- More bank failures and rescues
- UK Banking Act 2009[21] (including the Special Resolution Regime[[22]
: "Basel 3": Enhancements to the Basel II framework[23][24]