Banking/Timelines: Difference between revisions
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==The early years== | |||
1244 Genoa's Leccacorvo bank[http://ehistory.osu.edu/world/articles/ArticleView.cfm?AID=59] | 1244 Genoa's Leccacorvo bank[http://ehistory.osu.edu/world/articles/ArticleView.cfm?AID=59] | ||
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1694 Formation of the Bank of England[http://www.bankofengland.co.uk/about/history/index.htm] | 1694 Formation of the Bank of England[http://www.bankofengland.co.uk/about/history/index.htm] | ||
==The 19th century== | |||
1863 US National Bank Act sets minimum reserve ratios | 1863 US National Bank Act sets minimum reserve ratios | ||
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1913 US National Reserve Act creates the [[Federal Reserve System]] | 1913 US National Reserve Act creates the [[Federal Reserve System]] | ||
==The 20th century== | |||
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]] | ||
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1999 US Gramm-Leach-Bliley Act[http://banking.senate.gov/conf/] - repealed the Glass Steagall Act of 1933, and introduced other changes including expanding the Federal Home Loan Bank System. | 1999 US Gramm-Leach-Bliley Act[http://banking.senate.gov/conf/] - repealed the Glass Steagall Act of 1933, and introduced other changes including expanding the Federal Home Loan Bank System. | ||
2002 US Sarbanes-Oxley Act[http://www.pwc.com/Extweb/NewCoAtWork.nsf/docid/D0D7F79003C6D64485256CF30074D66C/$FILE/Final_SO_WP_2-BoardsAC.pdf][http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=107_cong_bills&docid=f:h3763enr.tst.pdf] | ==The 21st century== | ||
2002 | |||
: US Sarbanes-Oxley Act[http://www.pwc.com/Extweb/NewCoAtWork.nsf/docid/D0D7F79003C6D64485256CF30074D66C/$FILE/Final_SO_WP_2-BoardsAC.pdf][http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=107_cong_bills&docid=f:h3763enr.tst.pdf] | |||
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] | 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 | 2008 | ||
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: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] | :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] | ||
2010 | |||
Revision as of 11:14, 23 January 2010
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 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
The 20th century
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.
The 21st century
2002
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]
2010