Financial system/Timelines: Difference between revisions

From Citizendium
Jump to navigation Jump to search
imported>Nick Gardner
No edit summary
imported>Nick Gardner
Line 46: Line 46:


* 1980 US Depository Institutions Deregulation and Monetary Control Act[http://www.bos.frb.org/about/pubs/deposito.pdf]
* 1980 US Depository Institutions Deregulation and Monetary Control Act[http://www.bos.frb.org/about/pubs/deposito.pdf]
* 1986 US Savings and Loans crisis[<ref>[http://www.fdic.gov/bank/analytical/banking/2000dec/brv13n2_2.pdf Timothy Curry and Lynn Shibut: ''The Cost of the Savings and Loans Crisis'', FDIC Banking Review, 2000]</ref>]


* 1986 UK Building Societies Act [http://www.legislation.gov.uk/RevisedStatutes/Acts/ukpga/1986/cukpga_19860053_en_1][http://www.bsa.org.uk/policy/policyissues/constandcorpgov/nature.htm]<br> and stock exchange "Big Bang"[http://www.londonstockexchange.com/en-gb/about/cooverview/history.htm].
* 1986 UK Building Societies Act [http://www.legislation.gov.uk/RevisedStatutes/Acts/ukpga/1986/cukpga_19860053_en_1][http://www.bsa.org.uk/policy/policyissues/constandcorpgov/nature.htm]<br> and stock exchange "Big Bang"[http://www.londonstockexchange.com/en-gb/about/cooverview/history.htm].

Revision as of 05:08, 12 June 2009

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

1200 to 1933: financial turmoil

  • 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[6]
  • 1864 US National Bank Act - established a national banking system and the chartering of national banks.
  • 1837 US banking crisis
  • 1844 UK Bank Charter Act
  • 1866 Overend and Gurney bank rescued[[7]
  • 1890 Barings bank rescued
  • 1913 US Federal Reserve Act - established the Federal Reserve System [8]

1933 to 1980: financial stability

  • 1933 New Deal
    US Glass-Steagall Act - created the Federal Deposit Insurance Corporation[9]. Separated commercial banking from investment banking.[[10]
  • 1933 United States leaves the gold standard.
  • 1944 Bretton Woods Agreement[11] 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[12]. Most exchange rates allowed to float.
  • 1974 The Basel Committee for Banking Supervision[13] created.

1980 to 2007: deregulation, innovation and growth

  • 1980 US Depository Institutions Deregulation and Monetary Control Act[14]
  • 1986 US Savings and Loans crisis[[1]]
  • 1986 UK Building Societies Act [15][16]
    and stock exchange "Big Bang"[17].
  • 1987 Global stock market crash[18]
  • 1987 First CDOs issued [19]
  • 1988 Basel I[20] (The Basel Capital Accord)
  • 1989 LTCM hedge fund rescued[21]
  • 1997 First Credit Default Swap (CDS) issued[22]
  • 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[25] created
  • 1999 The European Monetary Union[26]
  • 2006 Basel II[27] (Revised International Capital Framework]

2007 to 2009: financial turmoil again