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Unformatted text preview: 90s. 1907 bank panic caused government to look for way to stabilize banking system. banking As a result Federal Reserve Act of 1913 created the Federal Reserve System. * created HISTORY OF BANKING:FROM HISTORY FROM THE DEPRESSION TO THE 1960s THE 9,600 banks failed between 1930 & 1933. Federal safety net to protect public & Federal banks: banks: Federal Deposit Insurance Acts of 1933 & 1934. The Glass-Steagall Act of 1933 separated The investment banking & commercial banking. investment Securities Exchange Acts of 1933 & 1934 Securities regulated securities trading. regulated The Federal Reserve Act of 1935 strengthen the The Fed & insured liquidity to troubled banks. * Fed HISTORY OF BANKING:1960s HISTORY 1960s EROSION OF NEW DEAL BANKING EROSION In 1960, banks held 40% of financial assets & In domina...
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- Fall '10