Banking/Addendum: Difference between revisions
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==United States Banking | ==United States Banking Law== | ||
* National Bank Act of 1864 | * National Bank Act of 1864 | ||
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:Brought foreign banks within the federal regulatory framework. Required deposit insurance for branches of foreign banks engaged in retail deposit taking in the U.S. | :Brought foreign banks within the federal regulatory framework. Required deposit insurance for branches of foreign banks engaged in retail deposit taking in the U.S. | ||
* Depository Institutions Deregulation and Monetary Control Act of 1980[http://www.fdic.gov/regulations/laws/rules/8000-2200.html] | * Depository Institutions Deregulation and Monetary Control Act of 1980[http://www.fdic.gov/regulations/laws/rules/8000-2200.html] | ||
:Provided for the gradual elimination of all limitations on the rates of interest which are payable on deposits and accounts | |||
* Depository Institutions Act of 1982 | * Depository Institutions Act of 1982 | ||
:''(also known as Garn-St Germain)''. Expanded FDIC powers to assist troubled banks. | :''(also known as Garn-St Germain)''. Expanded FDIC powers to assist troubled banks. | ||
*Securities Industry Association v. Board of Governors (1984)[http://supreme.justia.com/us/468/137/index.html] | |||
:Following a series of Supreme Court interpretations that relaxed the restrictions of the Glass-Steagall Act, the Court allowed a bank holding company to operate a discount brokerage firm. | |||
* Gramm-Leach-Bliley Act of 1999 | * Gramm-Leach-Bliley Act of 1999 | ||
: Repealed the Glass Steagall Act of 1933, and introduced other changes including expanding the Federal Home Loan Bank System. | : Repealed the Glass Steagall Act of 1933, and introduced other changes including expanding the Federal Home Loan Bank System. | ||
* Wall Street Reform and Consumer Protection Act of 2009[http://financialservices.house.gov/Key_Issues/Financial_Regulatory_Reform/FinancialRegulatoryReform/hr4173eh.pdf] | * Wall Street Reform and Consumer Protection Act of 2009[http://financialservices.house.gov/Key_Issues/Financial_Regulatory_Reform/FinancialRegulatoryReform/hr4173eh.pdf] | ||
:''( See also the FDIC's "Important Banking Legislation" [http://www.fdic.gov/regulations/laws/important/index.html])'' | |||
==Reserve ratios== | ==Reserve ratios== | ||
Revision as of 03:14, 27 January 2010
United States Banking Law
- National Bank Act of 1864
- Established a national banking system and the chartering of national banks.
- Federal Reserve Act of 1913
- Established the Federal Reserve System
- Amendment of the National Banking Laws and the Federal Reserve Act
- (also known as The McFadden Act) Prohibited interstate banking.
- Banking Act of 1933 .
- (also known as the Glass-Steagall Act). Created the Federal Deposit Insurance Corporation. Separated commercial banking from investment banking.
- Bank Holding Company Act of 1956
- Required Federal Reserve Board approval for the establishment of a bank holding company. Prohibited bank holding companies in one state from acquiring a bank in another state.
- International Banking Act of 1978 .
- Brought foreign banks within the federal regulatory framework. Required deposit insurance for branches of foreign banks engaged in retail deposit taking in the U.S.
- Depository Institutions Deregulation and Monetary Control Act of 1980[1]
- Provided for the gradual elimination of all limitations on the rates of interest which are payable on deposits and accounts
- Depository Institutions Act of 1982
- (also known as Garn-St Germain). Expanded FDIC powers to assist troubled banks.
- Securities Industry Association v. Board of Governors (1984)[2]
- Following a series of Supreme Court interpretations that relaxed the restrictions of the Glass-Steagall Act, the Court allowed a bank holding company to operate a discount brokerage firm.
- Gramm-Leach-Bliley Act of 1999
- Repealed the Glass Steagall Act of 1933, and introduced other changes including expanding the Federal Home Loan Bank System.
- Wall Street Reform and Consumer Protection Act of 2009[3]
- ( See also the FDIC's "Important Banking Legislation" [4])
Reserve ratios
(Bank equity, per cent of assets)
1880 1920 1940 1980 2005 United States 24 11 10 5 United Kingdom 11 5 5 5 4
(Source: Andrew Haldane Banking on the State, Bank for International Settlements[5])