history of the U.S. Banking System

By Yzhou261

  • Federalists and Antifederalists disagree about a banking system.

    The Nation has no reliable medium of exchange. Federalists and Antifederalists disagree about a banking system.

  • The First Bank of U.S.

    The First Bank of the United States is established.
  • Period: to

    Expiration of First Bank's charter.

    Period of instability follows the expiration of First Bank's charter.

  • Second Bank of US.

    Second Bank of the United States is established
  • Period: to

    Better monetary and banking system

    Civil war makes clearthe need for a better monetary and banking system
  • Period: to

    National Banking Acts of 1863 and 1864

    National Banking Acts of 1863 and 1864 establish national banking system and uniform national currency

  • Federal Reserve Act

    President Wilson sins the Federal Reserve Act

  • The Great Depression Begin

    n the United States, the Great Depression began soon after the stock market crash of October 1929, which sent Wall Street into a panic and wiped out millions of investors.

  • FDIC

    President Roosevelt helps restore confidence in the naion's banks by establishing the FDIC
  • Period: to

    period of deregulation

    period of deregulation, savings and loans face bankrupts

  • The worst economic crisis since World War II

    In 2007, a result of the subprime mortgage crisis is a sharp increase in the number of people who lose their homes because they can not pay their mortgage. this leads to the worst economic crisis since World War II