| September 2008 |
Failure of Lehman Brothers Holdings Inc. |
| October 2008 |
Many countries announced the increase of coverage level of deposit insurance |
| (Increased coverage amount and fully protected noninterest-bearing transaction accounts) |
(Many European countries including UK and Germany) |
(Hong Kong, Singapore, Malaysia, Australia and New Zealand, etc.) |
| Enacted “Emergency Economic Stabilization Act” |
UK, Germany & France: announced comprehensive financial stabilization measures |
|
| November 2008 |
G20 Washington Summit |
| April 2009 |
G20 London Summit |
| September 2009 |
G20 Pittsburgh Summit |
| October 2009 |
|
|
Japan: Establishment of Enterprise Turnaround Initiative Corporation of Japan (ETIC) |
| May 2010 |
|
EU: Sovereign problem emerged |
|
| June 2010 |
|
EU: Founded “European Financial Stability Facility”(EFSF) |
|
| G20 Toronto Summit |
| July 2010 |
Enacted “Dodd-Frank Wall Street Reform and Consumer Protection Act” |
EU: Released proposal for a revision of the Directive on Deposit Guarantee Schemes (DGS) |
|
| September 2010 |
|
|
Japan: Failure of Incubator Bank of Japan (the first case of the limited coverage) |
| October 2010 |
Launched “Financial Stability Oversight Council” (FSOC) |
|
|
| November 2010 |
Financial Stability Board (FSB): Announced policy framework on systemically important financial institutions (SIFIs) |
| G20 Seoul Summit |
| December 2010 |
Basel Committee on Banking Supervision (BCBS): Announced the revised framework on new bank capital and liquidity standards (Basel Ⅲ) |
| January 2011 |
|
EU: Launched new financial supervision framework- European Systemic Risk Board (ESRB) and European Supervisory Authorities (ESAs) |
Hong Kong, Singapore and Malaysia returned to limited coverage. |
| |
UK: Introduced bank levy |
|
| March 2011 |
|
|
Japan: Great East Japan Earthquake occurred |
| July 2011 |
|
EU: Agreed to provide additional support to Greece; Determined to enhance EFSF’s functions |
|
| October 2011 |
FSB: Issued “Key Attributes of Effective Resolution Regimes for Financial Institutions” (Key Attributes) |
| November 2011 |
G20 Cannes Summit |
| FSB: Specified 29 global systemically important financial institutions (G-SIFIs). |
| February 2012 |
FSB: Issued the report “ Thematic Review on Deposit Insurance Systems” |
| |
|
Japan: Establishment of Corporation for Revitalizing Earthquake-Affected Business |
| March 2012 |
|
|
Japan: FSA announced the amendment to administrative notice on capital adequacy rules for internationally operating banks (BaselⅢ) |
| June 2012 |
|
EU: Released proposal for Bank Recovery and Resolution Directive (BRRD) |
|
| G20 Los Cabos Summit |
| September 2012 |
|
ECB: Decided to introduce Outright Monetary Transactions (OMT) |
|
| October 2012 |
|
EU: Inaugurated ESM |
|
| December 2012 |
Federal Deposit Insurance Corporation (FDIC) and Bank of England (BOE): Released a joint paper ”Resolving Globally Active, Systemically Important, Financial Institutions” |
| FDIC: Ended temporary unlimited coverage for noninterest-bearing transaction accounts on December 31, 2012 |
EU: Agreed on a Roadmap for the completion of Economic and Monetary Union (including Single Supervisory Mechanism: SSM) |
|
| January 2013 |
BCBS: Released revised version of Basel III's Liquidity Coverage Ratio(LCR) standard |
| |
|
Japan: the Financial System Council (Working Group on Framework of Regulations on Banks which Contribute to Stability of the Financial System, etc.) published the final report |
| April 2013 |
FSB: Issued the report “Thematic Review on Resolution Regimes” |
| |
EU: Agreed to provide support to Cyprus |
|
| June 2013 |
|
|
Japan: Conducted the partial revisions of the Deposit Insurance Act to establish orderly resolution of assets and liabilities of financial institutions |
| July 2013 |
FSB: Identified 9 Global Systemically Important Insurers (G-SIIs). |
| |
EU: Released proposal for Regulation for Single Resolution Mechanism (SRM) and Single Resolution Fund (SRF) |
|
| September 2013 |
FDIC: Approved final rule on the definition of deposit at foreign branches of U.S. Banks to clarify that these deposits are not insured by the FDIC |
|
|
| December 2013 |
FDIC: Released the Federal Register the Single Point of Entry (SPoE) strategy for public comment |
|
|
| FRB/FDIC etc. Issued final rules implementing the Volcker Rule |
|
|
| February 2014 |
FRB: Issued a final rule strengthening supervision and regulation of large U.S. bank holding companies (BHCs) and foreign banking organizations (FBOs) |
|
|
| March 2014 |
|
|
Japan: Enforced the partial revisions of the Deposit Insurance Act |
| April 2014 |
|
EU: Parliament adopted the revision of the directive on DGS, BRRD and the regulation for SRM and SRF |
|
| (Source)National authorities (as of July 2014) |
