Financial system/Timelines: Difference between revisions

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imported>Nick Gardner
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* 1933 [[New Deal]]<br>US  Glass-Steagall Act - created the Federal Deposit Insurance Corporation[http://www.fdic.gov/about/history/index.html]. Separated commercial banking from investment banking.[[http://www.pbs.org/wgbh/pages/frontline/shows/wallstreet/weill/demise.html]
* 1933 [[New Deal]]<br>US  Glass-Steagall Act - created the Federal Deposit Insurance Corporation[http://www.fdic.gov/about/history/index.html]. Separated commercial banking from investment banking.[[http://www.pbs.org/wgbh/pages/frontline/shows/wallstreet/weill/demise.html]
* 1933 United States leaves the gold standard.
* 1944 Bretton Woods Agreement[http://www.imfsite.org/origins/confer.html] 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[http://www.24hgold.com/english/contributor.aspx?contributor=History%20of%20Gold&article=803452874G10020]. Most exchange rates allowed to float.


* 1974 The Basel Committee for Banking Supervision[http://www.bis.org/bcbs/] created.
* 1974 The Basel Committee for Banking Supervision[http://www.bis.org/bcbs/] created.

Revision as of 00:45, 10 June 2009

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A timeline (or several) relating to Financial system.
  • 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]
  • 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]
  • 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]
  • 1987 Global stock market crash[16]
  • 1988 Basel I[17] (The Basel Capital Accord)
  • 1989 LTCM hedge fund rescued[18]
  • 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
  • 2006 Basel II[22] (Revised International Capital Framework]