Crash of 2008/Timelines: Difference between revisions
imported>Nick Gardner |
imported>Nick Gardner |
||
| Line 4: | Line 4: | ||
==The 1980s== | ==The 1980s== | ||
'''Financial deregulation''' In the USA [http://landru.i-link-2.net/monques/dereg80.html], [http://www.fdic.gov/regulations/laws/rules/8000-4100.html], the UK [http://www.legislation.gov.uk/RevisedStatutes/Acts/ukpga/1986/cukpga_19860053_en_1]. | '''Financial deregulation''' In the USA [http://landru.i-link-2.net/monques/dereg80.html], [http://www.fdic.gov/regulations/laws/rules/8000-4100.html], the UK [http://www.legislation.gov.uk/RevisedStatutes/Acts/ukpga/1986/cukpga_19860053_en_1]. | ||
'''First ''CMO'' issued''' | |||
'''Savings and Loans crisis''' - Failure of 296 US "''Savings and Loans''" mortgage lenders [http://www.fdic.gov/bank/analytical/banking/2000dec/brv13n2_2.pdf] | '''Savings and Loans crisis''' - Failure of 296 US "''Savings and Loans''" mortgage lenders [http://www.fdic.gov/bank/analytical/banking/2000dec/brv13n2_2.pdf] | ||
Revision as of 01:17, 26 September 2008
For definitions of the terms shown in italics, see the related articles subpage of the main article.
The 1980s
Financial deregulation In the USA [1], [2], the UK [3].
First CMO issued
Savings and Loans crisis - Failure of 296 US "Savings and Loans" mortgage lenders [4]
1987 stock market crash [5]
The 1990s
Failure of a further 451 US "Savings and Loans" mortgage lenders.
Asian banking crisis [6].
'Basel I' recommended banking regulations published [7].
The year 2007 (summary)
US Subprime mortgage crisis [8].
US house prices fall throughout 2007 [9].
Large bank writedowns and losses at Bank of America, Barclays, BNP Paribas, Citigroup, Credit Suisse, Citigroup and HSBC.
2007
August
American Home Mortgage bankrupt [10].
Collapse of interbank markets
September
UK Northern Rock bank run [11]
The year 2008 (summary)
2008
January
'Basel II' banking regulation recommendations take effect [12]
US mortgage lender Countrywide sold to Bank of America after its share price drops by 48% [13].
February
British government nationalises Northern Rock bank [14].
August
US Government's Fannie Mae and Freddie Mac rescue [15].
September
7 Fannie Mae and Freddie Mac nationalised [16].
12 Lehman Brothers seek bankruptcy protection [17]
15 US Federal Reserve Bank rescues Bear Stearns bank [18].
17 US government nationalises American Insurance Group [19].
- Russian stockmarket meltdown [20]
- UK's Halifax/Bank of Scotland (HBOS) accepts rescue bid from Lloyds TSB [21].
18 US Treasury and Federal Reserve Bank propose a scheme to take "toxic assets" out of the US banking system [22].
23 US Federal Reserve Bank protects Goldman Sachs and Morgan Stanley banks[23].