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Bank of the United States is Created
Alexander Hamilton askes congress to set up this bank. This bank encourages economic growth. The government deposits people's tax money and then uses it to pay bills and make loans.
Source:
http://www.ushistory.org/tour/first-bank.htm -
2nd National Bank is Created
The nation needed a central bank to regulate the money supply. This second national bank helped restore order to the nation's money and helped American businesses grow.
Source:
http://softschools.com/timelines/history_of_banking_in_the_united_states_timeline/375/ -
Aldrich Vreeland Act
This act was passed to provide for emergency currency issues. The National Bank was permitted to put more currency into circulation. -
The Federal Reserve Act
This sets up a new system of federal banks. The Federal Reserve was created as the central bank of the United States. This helped have a safer, more flexible, and more stable monetary system. source:
https://www.federalreserve.gov/aboutthefed/fract.htm -
Glass-Steagall Act
This act separates commercial and investment banking. It created the Federal Deposit Insurance Commission. source:
https://www.federalreservehistory.org/essays/glass_steagall_act -
The Banking Act of 1935
President Franklin D. Roosevelt enacted this reform. It was the structure , powers, and functions of the Federal Reserve. It shifted power to the Board based in Washington D.C. -
Bretton Woods System
The was where delegates from forty four nations created a new international monetary system. This helped the exchange rate stability and promoted economic growth. source:
https://www.federalreservehistory.org/essays/bretton_woods_created -
Monetary Act of 1951
This was an agreement between U.S. secretary of the Treasury and the Federal Reserve Board which resestablished the Federal Reserves Independence.
Source:
https://www.investopedia.com/terms/m/monetary-accord-1951.asp -
Humphrey Hawkins Act
Jimmy Carter signed this into law. This was outlining the requirements and goals for the federal government to obtain. One goal was that the Fed chairman had to report to congress twice annually on monetary policy goals and objectives. -
Depository Institutions Deregulation Act of 1980.
This deregulated banks and gave the Fed more control of the non-member backs. This also allowed banks to merge.
Source:
https://www.investopedia.com/terms/m/monetary-control-act.asp
