Banking/Addendum: Difference between revisions
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: gave the Bank of England the exclusive right to issue banknotes. | : gave the Bank of England the exclusive right to issue banknotes. | ||
* Building Societies Act[http://www.bsa.org.uk/consumer/factsheets/100003.htm], 1986. | * Building Societies Act[http://www.bsa.org.uk/consumer/factsheets/100003.htm], 1986. | ||
* Banking Act[http://www.opsi.gov.uk/RevisedStatutes/Acts/ukpga/1987/cukpga_19870022_en_1] 1987 (repealed). | |||
* Bank of England Act[http://www.opsi.gov.uk/acts/acts1998/ukpga_19980011_en_1], 1998. | |||
: included provision for the transfer of supervisory functions. | |||
* Banking Act[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], 2009 | * Banking Act[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], 2009 | ||
Revision as of 05:08, 1 February 2010
English banking legislation
- Bank Charter Act[1], 1844.
- gave the Bank of England the exclusive right to issue banknotes.
- included provision for the transfer of supervisory functions.
United States banking legislation
- 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[7]
- 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)[8]
- 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[9]
- ( See also the FDIC's "Important Banking Legislation" [10])
European banking legislation
- EC Directive 2006/48/EC[11], 2006
- Commission Directive 2009/27/EC[12] of 7 April 2009
- Proposal for a directive amending Directives 2006/48/EC and 2006/49/EC as regards capital requirements for the trading book and for re-securitisations, and the supervisory review of remuneration policies[13] (Citizens' summary[14]).
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[15])