Titlebook: Regulation and Instability in U.S. Commercial Banking; A History of Crises Jill M. Hendrickson Book 2011 Palgrave Macmillan, a division of

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,National Banking Era: 1864–1912,l Reserve. The opportunity to obtain national bank charters came with the passage of the 1863 National Currency Act and its subsequent revision as the National Bank Act of 1864. The Federal Reserve Act was codified in December of 1913. Thus, the national bank era refers to a period of approximately

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,Era of Instability and Change: 1913–1944, banking and the growth in federal regulation. This era marks another extension of the historical trend in commercial banking to become both more regulated and more unstable. As this chapter demonstrates, between 1913 and 1944, commercial banking in the United States witnessed an increase in the sev

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Lessons from the History of U.S. Banking and Regulation,d then to increasing amounts of regulation at both the state and national level. Along with a steady growth in regulation has been the steady growth in the federal safety net. Yet, as this book clearly illustrates, banking has also become increasingly unstable over time. Indeed, perhaps the most sta

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Lessons from the History of U.S. Banking and Regulation,y isolated. Certainly, the world we live in today is much different from the antebellum era but we still must reconcile how banking has become both more regulated and more unstable. This chapter attempts to offer an explanation through the lens of history.

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Theories of Bank Regulation,n of regulation, it is important to first understand the economic theory of regulation in general and then the theories of bank regulation more specifically. This chapter is designed to introduce the theoretical underpinnings of bank regulation so that we may critically analyze the evolution of comm