Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
16 Cards in this Set
- Front
- Back
|
Federal Reserve Act (1913) |
Created Federal Reserve System |
|
|
McFadden Act of 1927 |
-Effectively prohibited banks from branching across state lines -Put national and state banks on equal footing regarding branching |
|
|
Banking Acts of 1933 (Glass-Steagall) and 1935 |
-Created FDIC -Separated commercial banking from securities industry -Put interest-rate ceilings on other deposits |
|
|
Securities Act of 1933 and Securities Exchange Act of 1934 |
-Required that investors receive financial information on securities offered for public sale -Prohibited misrepresentations and fraud in the sale of securities -Created Securities and Exchange Commission (SEC) |
|
|
Investment Company Act of 1940 and Investment Advisers Act of 1940 |
-Regulated investment companies, including mutual funds -Regulated investment advisers |
|
|
Bank Holding Company Act and Douglas Amendment (1956) |
-Clarified the status of bank holding companies -Gave the Fed. regulatory responsibility for BHC's |
|
|
Depository Institutions Deregulation and Monetary Control Act (DIDMCA) of 1980 |
-Gave thrift institutions wider latitude of activities -Approved NOW and sweep accounts nationwide -Phased out interest-rate ceilings on deposits -Imposed uniform reserve requirements on depository institutions -Eliminated usury ceilings on loans -Increased deposit insurance to $100,000 |
|
|
Depository Institutions Act of 1982 (Garn-St. Germain) |
-Gave FDIC and FSLIC emergency powers to merge banks and thrifts across state lines -Allowed depository institutions to offer money market deposit accounts (MMDAs) -Granted thrifts wider latitude in commercial and consumer lending |
|
|
Competitive Equality in Banking Act (CEBA) of 1987 |
-Provided $10.8bn to shore up FSLIC -Made provisions for regulatory forbearance in depressed areas |
|
|
Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) of 1989 |
-Provided funds to resolve S&L failures -Eliminated FSLIC and Federal Home Loan Bank Board -Created the Office of Thrift Supervision -Created the Resolution Trust Corp. to resolve insolvent thrifts -Raised deposit insurance premiums -Reimposed restrictions on S&L activities |
|
|
Federal Deposit Insurance Corporation Improvement Act (FDICIA) of 1991 |
-Recapitalized the FDIC -Limited brokered dep. & too-big-to-fail policy -Set provisions for prompt corrective action -Instructed FDIC to establish risk-based premiums -Increased examinations, capital/reporting req. -Included FBSEA, strengthened Fed's ability to supervise foreign banks |
|
|
Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 |
-Overturned prohibition of interstate banking -Allowed branching across state lines |
|
|
Gramm-Leach-Bliley Financial Services Modernization Act of 1999 |
-Repealed Flass-Steagall and removed the separation of banking and securities industries |
|
|
Sarbanes-Oxley Act of 2002 |
-Created Public Company Accounting Oversight Board (PCAOB) -Prohibited certain conflicts of interest -Required certification by CEO and CFO of financial statements and independence of audit committee |
|
|
Federal Deposit Insurance Reform Act of 2005 |
-Merged the Bank Insurance Fund and Savings Association Insurance Fund -Increased deposit insurance on IRAs to $250,000 |
|
|
Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 |
-Created the Consumer Financial Protection Bureau to regulate mortgages/other products -Required routine derivatives to be cleared -Authorized gov. takeovers of financial holding companies -Created FSOC to regulate systemic orgs. -Banned banks from proprietary trading and owning large percentages of hedge funds |
