History of Banking by ALEXANDER MERKEL https://padlet.com/merkeale000/97coqp39px69 Made with no regrets, whatsoever en-us 2018-09-13 16:58:21 UTC 2018-09-17 17:46:00 UTC hello@padlet.com 1829New York is the first state to adopt an insurance plan for bank obligations. Between 1829 and 1866, five other states adopt similar plans. merkeale000 https://padlet.com/merkeale000/97coqp39px69/wish/280983195 2018-09-13 17:53:30 UTC https://padlet.com/merkeale000/97coqp39px69/wish/280983195 1831Comly Rich house, Philadelphia. First U.S. home financed by a savings and loan association. Rich, a maker of combs, received a loan in 1831 from the Oxford Provident Building Association, the nation's first savings institution. merkeale000 https://padlet.com/merkeale000/97coqp39px69/wish/280983873 2018-09-13 17:54:37 UTC https://padlet.com/merkeale000/97coqp39px69/wish/280983873 1837With the demise of the Second Bank of the United States in 1837, only state-chartered banks exist. During this period, known as the Free Banking Era, state chartering standards often are not very stringent, and many new banks are formed. Large numbers of them will fail. The era ends with the passage of the National Currency Act in 1863. merkeale000 https://padlet.com/merkeale000/97coqp39px69/wish/280985498 2018-09-13 17:57:05 UTC https://padlet.com/merkeale000/97coqp39px69/wish/280985498 1843The first issue of the Bank Note Reporter is published. This weekly report on the value and validity of the bank notes was the most respected of many such publications that merchants relied upon to evaluate the reliability of currency. merkeale000 https://padlet.com/merkeale000/97coqp39px69/wish/280986761 2018-09-13 17:59:02 UTC https://padlet.com/merkeale000/97coqp39px69/wish/280986761 1849The Gold Rush begins. merkeale000 https://padlet.com/merkeale000/97coqp39px69/wish/280990007 2018-09-13 18:04:20 UTC https://padlet.com/merkeale000/97coqp39px69/wish/280990007 1860There are 1,562 state banks. merkeale000 https://padlet.com/merkeale000/97coqp39px69/wish/280991549 2018-09-13 18:07:03 UTC https://padlet.com/merkeale000/97coqp39px69/wish/280991549 1862 7,000 different bank notes are in circulation; 5,500 fraudulent bank notes are in circulation. merkeale000 https://padlet.com/merkeale000/97coqp39px69/wish/280991828 2018-09-13 18:07:31 UTC https://padlet.com/merkeale000/97coqp39px69/wish/280991828 merkeale000 https://padlet.com/merkeale000/97coqp39px69/wish/282463765 2018-09-17 16:58:06 UTC https://padlet.com/merkeale000/97coqp39px69/wish/282463765 1863The Civil War destroys the South's economy; the North's economy flourishes.President Abraham Lincoln composes the final Emancipation Proclamation on January 1, 1863. merkeale000 https://padlet.com/merkeale000/97coqp39px69/wish/282463820 2018-09-17 16:58:10 UTC https://padlet.com/merkeale000/97coqp39px69/wish/282463820 National Banking Act of 1864This act:Establishes the Office of the Comptroller of the Currency (OCC)Initiates a system of bank examinations. merkeale000 https://padlet.com/merkeale000/97coqp39px69/wish/282465778 2018-09-17 17:01:03 UTC https://padlet.com/merkeale000/97coqp39px69/wish/282465778 merkeale000 https://padlet.com/merkeale000/97coqp39px69/wish/282466166 2018-09-17 17:01:39 UTC https://padlet.com/merkeale000/97coqp39px69/wish/282466166 National Banking Act of 1865This act, intent on getting rid of bank notes, levies a tax on state currency. The tax goes from 2 percent to 10 percent, resulting in the use of checks. merkeale000 https://padlet.com/merkeale000/97coqp39px69/wish/282466216 2018-09-17 17:01:42 UTC https://padlet.com/merkeale000/97coqp39px69/wish/282466216 1877The Chase National Bank is chartered. merkeale000 https://padlet.com/merkeale000/97coqp39px69/wish/282469870 2018-09-17 17:06:38 UTC https://padlet.com/merkeale000/97coqp39px69/wish/282469870 2002WorldCom logoWorldCom files for Chapter 11 bankruptcy, making it the largest filing in U.S. history.The euro replaces the currency of 12 of the 15 countries in the European Union. merkeale000 https://padlet.com/merkeale000/97coqp39px69/wish/282472442 2018-09-17 17:10:30 UTC https://padlet.com/merkeale000/97coqp39px69/wish/282472442 2003U.S. Presidentsduring the 2000sGeorge W. Bush George W. Bush (2001-2009)For the first time, electronic payments (automatic transactions, credit cards, and debit cards) totaling $44.5 billion outnumber paper checks totaling $36.7 billion. merkeale000 https://padlet.com/merkeale000/97coqp39px69/wish/282473703 2018-09-17 17:12:14 UTC https://padlet.com/merkeale000/97coqp39px69/wish/282473703 2004J.P. Morgan Chase logoBank of AmericaBoth J.P. Morgan Chase and Bank of America report more than $1 trillion of bank and non-bank assets. merkeale000 https://padlet.com/merkeale000/97coqp39px69/wish/282474891 2018-09-17 17:13:57 UTC https://padlet.com/merkeale000/97coqp39px69/wish/282474891 2005CitigroupCitigroup agrees to pay $2 billion to settle a class-action lawsuit over its role in the Enron collapse.In 2002, Citigroup sold stocks and bonds in the company before Enron filed for bankruptcy. merkeale000 https://padlet.com/merkeale000/97coqp39px69/wish/282475545 2018-09-17 17:14:56 UTC https://padlet.com/merkeale000/97coqp39px69/wish/282475545 2005 The definition of capital is unchanged; however, Basel II allows the largest banks to use their own internal ratings systems to measure credit risk, as well as requires banks to measure and hold capital against operational risk. merkeale000 https://padlet.com/merkeale000/97coqp39px69/wish/282478111 2018-09-17 17:18:42 UTC https://padlet.com/merkeale000/97coqp39px69/wish/282478111 18th century BC In Egypt and Mesopotamia gold is deposited in temples for safe-keeping. But it lies idle there, while others in the trading community or in government have desperate need of it. In Babylon at the time of Hammurabi, in the 18th century BC, there are records of loans made by the priests of the temple. Read more: http://www.historyworld.net/wrldhis/PlainTextHistories.asp?groupid=2450&HistoryID=ac19&gtrack=pthc#ixzz5RNh5IbQc merkeale000 https://padlet.com/merkeale000/97coqp39px69/wish/282486963 2018-09-17 17:28:53 UTC https://padlet.com/merkeale000/97coqp39px69/wish/282486963 4th century BC Private entrepreneurs, as well as temples and public bodies, now undertake financial transactions. They take deposits, make loans, change money from one currency to another and test coins for weight and purity. Read more: http://www.historyworld.net/wrldhis/PlainTextHistories.asp?groupid=2450&HistoryID=ac19&gtrack=pthc#ixzz5RNhmtdlH merkeale000 https://padlet.com/merkeale000/97coqp39px69/wish/282490430 2018-09-17 17:32:42 UTC https://padlet.com/merkeale000/97coqp39px69/wish/282490430 Europe's kings: 13th - 14th centuryDuring the 13th century bankers from north Italy, collectively known as Lombards, gradually replace the Jews in their traditional role as money-lenders to the rich and powerful. merkeale000 https://padlet.com/merkeale000/97coqp39px69/wish/282493524 2018-09-17 17:36:02 UTC https://padlet.com/merkeale000/97coqp39px69/wish/282493524 Fugger dynasty: 15th - 16th centuryAt the start of the 15th century the Medici are Europe's greatest banking dynasty, but their political power later distracts them from the highly focussed business of making money. merkeale000 https://padlet.com/merkeale000/97coqp39px69/wish/282495187 2018-09-17 17:38:02 UTC https://padlet.com/merkeale000/97coqp39px69/wish/282495187 1929 The crash of the U.S. stock market heralds the beginning of the Great Depression. The Federal Reserve keeps money tight. The Dow drops 25 percent in two days and 30 percent in one week. Public confidence in government and business plummets. merkeale000 https://padlet.com/merkeale000/97coqp39px69/wish/282500901 2018-09-17 17:44:07 UTC https://padlet.com/merkeale000/97coqp39px69/wish/282500901 https://www.fdic.gov/about/history/timeline/1920s.html merkeale000 https://padlet.com/merkeale000/97coqp39px69/wish/282501579 https://kenyanwallstreet.com/?s=1929+stock+market+crash
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