Fed Reserve History

Highlighting events and people that influenced the central bank of the United States, with a new theme each week. (Maintained by @stlouisfed. RT≠endorsements)

[Fed Reserve History @FedHistory]

Since the 1970s, money market mutual funds (MMMFs) have become important parts of short-term money markets. Read one of our newest essays to learn about the history of MMMFs: https://t.co/TqB7yDYmrp

[Fed Reserve History @FedHistory]

The payment of interest on reserves held with Federal Reserve Banks was first debated in the 1970s. Learn more about interest on reserves in one of our newest essays: https://t.co/vvmEJ1c69P

[Fed Reserve History @FedHistory]

Interest rate controls were implemented after the Great Depression to prevent ‘excess competition’ among banks. Learn more about interest rate controls, also known as Regulation Q, in our newest essay: https://t.co/QsCrphSjYV

[Fed Reserve History @FedHistory]

The Federal Home Loan Banks were established in 1932 to advance funds to home mortgage lenders that did not have access to the Federal Reserve System. Our newest essay explores the history of the FHLB: https://t.co/UjyJXzUWQJ

[Fed Reserve History @FedHistory]

In the early 1970s, the Fed considered building infrastructure for credit cards and other electronic point-of-sale payments that were still in development, such as debit cards. Learn more in our newest essay: https://t.co/JgdE1zokI8

[Fed Reserve History @FedHistory]

Along with the tragic loss of life, the 9/11 attacks caused major dislocations in financial markets. A new essay explores the Fed’s key role in responding to the crisis, using its authority to limit the economic fallout and support the US financial system https://t.co/PH9QKRNMwJ

[Fed Reserve History @FedHistory]

New on Fed History: Our most recent essay explores bank capital standards throughout the Fed's history https://t.co/09l2bHuPan

[Fed Reserve History @FedHistory]

Just added to Fed History: Our newest essay examines the Home Ownership and Equity Protection Act of 1994, which addresses unfair, deceptive, or abusive mortgage lending practices https://t.co/YKnJs6yz9n

[Fed Reserve History @FedHistory]

New on Fed History: Our most recent essay explores the history of the Fed's cash services, which ensure that currency and coin in circulation are sufficient to meet public demand https://t.co/GOd3N60eTe

[St. Louis Fed @stlouisfed]

Did social networks speed up the bank runs of 2023? Federal Reserve historian Jonathan Rose talks about factors behind the runs. See the full video: https://t.co/UsmsrTnOrd

[Fed Reserve History @FedHistory]

Subsequent laws have built on the foundation of the Community Reinvestment Act of 1977 in order to further support the banking needs of communities including low- and moderate-income neighborhoods https://t.co/vyN1S4LvpS

[Fed Reserve History @FedHistory]

Community stakeholders, bankers, and policymakers have continued to debate whether the 1977 Community Reinvestment Act is necessary and whether it's efficient https://t.co/OaVJMmypK8

[Fed Reserve History @FedHistory]

Since the passage of the Community Reinvestment Act of 1977, there's been a lot of debate about its effects on bank profits, access to credit, and homeownership. In 2018, the @USTreasury issued a report on reforming CRA regulations https://t.co/YuqR5RyI5q

[Fed Reserve History @FedHistory]

The Community Reinvestment Act requires regulators to take a bank's lending to "its entire community" into account when considering applications for mergers and new branches https://t.co/JyvnfR4cTL

[Fed Reserve History @FedHistory]

Senator William Proxmire argued in 1977 that in return for the benefits of a public charter, "it is legitimate for public policy and regulatory practice to require some public purpose" of banks https://t.co/SjJBdgdsQc

[Fed Reserve History @FedHistory]

In the 1970s, discrimination wasn't the only factor inhibiting lending in low- and moderate-income communities, as then-Fed Chair Ben Bernanke discussed in a 2007 speech about the CRA https://t.co/HI3VStlIXR

[Fed Reserve History @FedHistory]

Laws in the 1960s and early 1970s prohibited housing and lending discrimination, but many people believed redlining persisted despite these laws https://t.co/2Kc4oA52TL

[Fed Reserve History @FedHistory]

The Community Reinvestment Act was a response to the practice of many banks to not market their services in low- and moderate-income communities, a form of "redlining" https://t.co/bACeCBdgKM

[Fed Reserve History @FedHistory]

On October 12, 1977, President Carter signed the Community Reinvestment Act, or CRA, part of the Housing and Community Development Act, to encourage bank lending in low- and moderate-income communities https://t.co/tXiVRrTUOQ

[Fed Reserve History @FedHistory]

The Fed History team adds new essays and other content under the guidance of the new Federal Reserve Historian, Jonathan Rose https://t.co/krVVXQ860d