History of Bank in Timeline

A bank is a financial intermediary that accepts deposits and provides credit. It generates demand deposits and facilitates lending, either directly or through capital markets. Banks play a crucial role in the economy by providing a safe place to store money, enabling transactions, and channeling funds from savers to borrowers, thereby fostering economic growth.

1979: Federal Financial Institutions Examination Council (FFIEC)

The Federal Financial Institutions Examination Council (FFIEC) was established in 1979 as a formal inter-agency body empowered to prescribe uniform principles, standards, and report forms for the federal examination of financial institutions.

1985: Mergers and Acquisitions

Between 1985 and 2018 banks engaged in around 28,798 mergers or acquisitions, either as the acquirer or the target company.

1999: Value of Mergers and Acquisitions

The value of bank mergers and acquisitions peaked at around 460 bil. USD in 1999.

2004: Branches in Germany, France and Italy in 2004

In 2004, Germany, France, and Italy each had more than 30,000 bank branches.

2007: Value of Mergers and Acquisitions

The value of bank mergers and acquisitions peaked at around 460 bil. USD in 2007.

2008: CoCos Issued After 2008 Financial Crisis

After the 2008 financial crisis, regulators forced banks to issue Contingent convertible bonds (CoCos), which are hybrid capital securities that absorb losses when the capital of the issuing bank falls below a certain level, boosting bank capitalization.

2008: Brokered Deposits During the 2008 Financial Crisis

During the 2008 financial crisis, banks that failed in the United States had, on average, four times more brokered deposits as a percent of their deposits than the average bank.

2008: Assets of Largest Banks

In 2008, the assets of the largest 1,000 banks in the world grew by 6.8%, reaching a record US$96.4 trillion.

2008: 2008 Financial Crisis

The 2008 financial crisis led to bank failures, including some of the world's largest banks, and provoked debate about bank regulation.

November 2009: Branches of China's top four Banks

As of November 2009, China's top four banks had over 67,000 branches.

2009: Global Investment Banking Fee Revenue

In 2009, fee revenue generated by global investment in banking totaled US$66.3 billion, a 12% increase from the previous year.

2015: Banks in the United States in 2015

As of 2015, the United States had the most banks in the world, with 5,330 institutions and 81,607 branches.

2018: Mergers and Acquisitions

Between 1985 and 2018 banks engaged in around 28,798 mergers or acquisitions, either as the acquirer or the target company. There was a steep decline (−82% from 2007 until 2018).

2021: Citigroup's Exit from Retail Banking

In 2021, Citigroup initiated an exit from retail banking outside of its core U.S. market.

2022: HSBC's Exit from the U.S. Retail Market

In 2022, HSBC initiated an exit from the U.S. retail market (except for its wealth management business).

March 2023: 2023 Global Banking Crisis

In March 2023, liquidity shortages and bank insolvencies led to three bank failures in the United States, and within two weeks, several of the world's largest banks failed or were shut down by regulators, marking the latest global banking crisis.