Financial system/Timelines

• 1244 Genoa's Leccacorvo bank[1]

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

• 1637 Dutch tulip bubble[3]

• 1694 Formation of the Bank of England[4]

• 1720 South Sea Bubble[5]

• 1821 Britain adopts the Gold standard

• 1864 US National Bank Act - established a national banking system and the chartering of national banks.

• 1866 Overend and Gurney bank rescued[[6]

• 1890 Barings bank rescued

• 1913 US Federal Reserve Act - established the Federal Reserve System [7]

• 1929 Crash of 2009

• 1930 Great Depression

• 1933 New Deal
  US Glass-Steagall Act - created the Federal Deposit Insurance Corporation[8]. Separated commercial banking from investment banking.[[9]

• 1933 United States leaves the gold standard.

• 1944 Bretton Woods Agreement[10] US dollar convertible to gold at 35$/oz and other currencies fixed to dollar. International Monetary Fund created.

• 1971 The US dollar no longer convertible to gold[11]. Most exchange rates allowed to float.

• 1974 The Basel Committee for Banking Supervision[12] created.

• 1980 US Depository Institutions Deregulation and Monetary Control Act[13]

• 1986 UK Building Societies Act [14][15]

• 1987 Global stock market crash[16]

• 1988 Basel I[17] (The Basel Capital Accord)

• 1989 LTCM hedge fund rescued[18]

• 1997 Asian banking crisis[19][20].

• 1999 US Gramm-Leach-Bliley Act - repealed the Glass Steagall Act of 1933, and introduced other changes including expanding the Federal Home Loan Bank System.

• 1999 The Financial Stability Forum[21] created

• 1999 The European Monetary Union[22]

• 2006 Basel II[23] (Revised International Capital Framework]

• 2007 Subprime mortgages crisis

• 2008 Crash of 2008

• 2009 Recession of 2009