Banking/Timelines

The early years

1244 Genoa's Leccacorvo bank[1]

1609 Amsterdam Wisselbank founded[2] - the first central bank.

1694 Formation of the Bank of England[3]

The 19th century

1863 US National Bank Act[4] -an attempt to introduce banking regulation.

1866 Overend-Gurney collapse causes banking panic [5]

1890 Barings crisis. Bank of England organises rescue of Barings bank by Rothschilds[6]

1850-1907 Bank runs in the United States in 1857, 1873, 1884, 1890, 1893, (and 1907} [7]

The 20th century

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[8]

US The Glass-Steagall Act [9]

1980 US Depository Institutions Deregulation and Monetary Control Act[10]

1986 UK Building Societies Act[11]

1988 Basel I[12] (The Basel Capital Accord)

1989 US Financial Institutions Reform, Recovery, and Enforcement Act[13]

1995 UK Barings bank failure [14].

1999 US Gramm-Leach-Bliley Act[15] - repealed the Glass Steagall Act of 1933, and introduced other changes including expanding the Federal Home Loan Bank System.

The 21st century

2002

US Sarbanes-Oxley Act[16][17]

2006

Basel II[18] (Revised International Capital Framework)

2007

French bank BNP Paribas freezes funds because it is .unable to value its US mortgage-backed assets. [19]

2008

Bank failures and rescues

Bear Stearns bought by J P Morgan Chase & Co for $2 a share[20] [21] (with $30 billion support from the Federal Reserve)

Bank of England announces its Special Liquidity Scheme[22] (to allow banks to swap temporarily their high quality mortgage-backed and other securities for UK Treasury Bills)

Lehman Brothers becomes bankrupt [23] with losses of $365 billion to insurers of its bonds.

2009

More bank failures and rescues

UK Banking Act 2009[24] (including the Special Resolution Regime[[25]

"Basel 3": Enhancements to the Basel II framework[26][27]

2010