Key moments in the history of US financial regulation:
1789: Under the new federal government, banks are chartered by state legislatures or Congress.
1829: New York becomes the first state to adopt a bank obligation insurance scheme, based on a concept employed by the Hong merchants in Canton, China.
1863: The Office of the Comptroller of the Currency is established to oversee national banks set up to issue the currency used to finance the civil war.
1913: The Federal Reserve System is created and assumes responsibility for state-chartered banks and bank holding companies.
1933: The Federal Deposit Insurance Corporation is established to insure deposits after 9,000 banks fail in the Great Depression.
1934: The Securities and Exchange Commission is created.
1989: The Office of Thrift Supervisionbegins oversight of savings and loan industry.
2009: Tim Geithner, Treasury secretary, calls for regulatory overhaul and greater federal supervision.
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