Banking/Timelines: Difference between revisions

From Citizendium
Jump to navigation Jump to search
imported>Nick Gardner
imported>Nick Gardner
Line 12: Line 12:
==The 19th century==
==The 19th century==


1863 US National Bank Act sets minimum reserve ratios
1863 US National Bank Act[http://www.nber.org/chapters/c8837.pdf] -an attempt to introduce banking regulation.


1866 Overend-Gurney collapse causes banking panic [http://www.ehs.org.uk/ehs/conference2003/assets/Taylor.doc]
1866 Overend-Gurney collapse causes banking panic [http://www.ehs.org.uk/ehs/conference2003/assets/Taylor.doc]

Revision as of 17:47, 23 January 2010

This article is developed but not approved.
Main Article
Discussion
Related Articles  [?]
Bibliography  [?]
External Links  [?]
Citable Version  [?]
Timelines [?]
Tutorials [?]
Addendum [?]
 
A timeline (or several) relating to Banking.


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1999 US Gramm-Leach-Bliley Act[15] - repealed the Glass Steagall Act of 1933, and introduced other changes including expanding the Federal Home Loan Bank System.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