SNAKES IN BANKING

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Timeline of snakes

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G Edward Griffin discusses the global banking scam, the global economic collapse
Marcus Denning  Published on Jul 4, 2016
 



"The American Beauty Rose can be produced
in its splendor and fragrance 
only by sacrificing the early buds 
which grow up around it."
-J.D. Rockefeller, Jr. in an address
on trusts, to the students of Brown University


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THE MONEY-TRADERS GLOBAL NETWORK

 

1636

1636 - HARVARD FOUNDED - In June, Roger Williams founds Providence and Rhode Island. Williams had been banished from Massachusetts for "new and dangerous opinions" calling for religious and political freedoms, including separation of church and state, not granted under the Puritan rules. Providence then becomes a haven for many other colonists fleeing religious intolerance


1690

John Freame and Thomas Gould start trading as goldsmith bankers     http://www.timeline.barclays.com/content/1690/The-start-of-Barclays.html

John Freame Born 1669, Cirencester, England
Died 1745 ,Occupation Banker
Spouse(s) Priscilla Gould   Children Priscilla Freame
Parent(s) Robert Freame 
Relatives David Barclay of Cheapside (son-in-law)
David Barclay of Youngsbury (grandson)

Personal life
Freame married Priscilla, Thomas Gould's sister (while Thomas married Hannah, John's sister).[2] Their daughter Priscilla Freame was the second wife of David Barclay of Cheapside, and they had eight children together, including David Barclay of Youngsbury (1729–1809).

David Barclay
Birth: 1682
Death: 1769

Quaker merchant, son of Robert Barclay the 'apologist' (as mentioned on his headstone) who wrote an early defence fo the Quaker movement. Began life as a draper and started trading with the West indies and New England. Entered a banking partnership with the Quaker family of Freame, and thus became the founder of Barclays Bank, which is still one of the leading British banking companies. (bio by: David Conway)

Burial:
Quaker Cemetery
Winchmore Hill
London Borough of Enfield
Greater London, England

Maintained by: Find A Grave
Record added: Jan 28, 2001
Find A Grave Memorial# 19841

https://www.findagrave.com/cgi-bin/fg.cgi?page=gr&GRid=19841 


 

1693

1693 - The College of William and Mary is founded in Williamsburg, Virginia.
 

1701

1701 - In July, The French establish a settlement at Detroit. In October, Yale College is founded in Connecticut.

1730

Colonial banks were established in America

1736

James Barclay becomes partner in the bank                                 http://www.timeline.barclays.com/content/1690/The-start-of-Barclays.html 

David Barclay
Birth: 1682
Death: 1769

Quaker merchant, son of Robert Barclay the 'apologist' (as mentioned on his headstone) who wrote an early defence fo the Quaker movement. Began life as a draper and started trading with the West indies and New England. Entered a banking partnership with the Quaker family of Freame, and thus became the founder of Barclays Bank, which is still one of the leading British banking companies. (bio by: David Conway)

Burial:
Quaker Cemetery
Winchmore Hill
London Borough of Enfield
Greater London, England

Maintained by: Find A Grave
Record added: Jan 28, 2001
Find A Grave Memorial# 19841

https://www.findagrave.com/cgi-bin/fg.cgi?page=gr&GRid=19841

 

1740

The Land Bank of Massachusetts was established to supply paper money, because the British government in 1737 ordered that the colony of Massachusetts issue no more paper money. This bank issued bank notes upon the security of land or of commodities--- banknotes that could be redeemed after twenty years,  and that might be paid in commodities.  It had no capital stock, but proposed to issue paper notes to the amount of 150,000 pounds (more than $500,000) to be secured by land. The Land Bank was finally suppressed by the British government.

1743

1743: Mayer Amschel Bauer, an Ashkenazi Jew, is born in Frankfurt, Germany, the son of Moses Amschel Bauer, a money lender and the proprietor of a counting house.

Moses Amschel Bauer places a red sign above the entrance door to his counting house. This sign is a red hexagram (which geometrically and numerically translates into the number 666) which under Rothschild instruction ended up on the Israeli flag some two centuries later.

1764

1774

The first Continental Congress met in Carpenter's Hall in Philadelphia, from September 5, to October 26, 1774.

The neglect of the British government to redress grievances which had been felt by the people, induced the colonies to form a closer connexion than their former isolated state, in the hopes that by a union they might procure what they had separately endeavored in vain, to obtain. In 1774, Massachusetts recommended that a congress of the colonies should be assembled to deliberate upon the state of public affairs; and on the fourth of September of the following year, the delegates to such a congress assembled in Philadelphia. Connecticut, Delaware, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, and Virginia, were represented by their delegates; Georgia alone was not represented. This congress, thus organized, exercised de facto and de jure, a sovereign authority, not as the delegated agents of the governments de facto of the colonies, but in virtue of the original powers derived from the people. This, which was called the revolutionary government, terminated only when superseded by the confederated government under the articles of confederation, ratified in 1781. Serg. on the Const. Intr. 7, 8.                                                                  http://legal-dictionary.thefreedictionary.com/United+States 
 

1775

 The state of alarm and danger in which the colonies then stood induced the formation of a second congress. The delegates, representing all the states, met in May, 1775. This congress put the country in a state of defence, and made provisions for carrying on the war with the mother country; and for the internal regulations of which they were then in need; and on the fourth day of July, 1776, adopted and issued the Declaration of Independence. (q.v.) The articles of confederation, (q.v.) adopted on the first day of March, 1781, 1 Story on the Const. Sec. 225; 1 Kent's Comm. 211, continued in force until the first Wednesday in March, 1789, when the present constitution was adopted. 5 Wheat. 420.

The United States of America are a corporation endowed with the capacity to sue and be sued, to convey and receive property. 1 Marsh. Dec. 177, 181. But it is proper to observe that no suit can be brought against the United States without authority of law.

 The states, individually, retain all the powers which they possessed at the formation of the constitution, and which have not been given to congress. (q.v.)

 Besides the states which are above enumerated, there are various territories, (q.v.) which are a species of dependencies of the United States. New states may be admitted by congress into this union; but no new state shall be formed or erected within the jurisdiction of any other state, nor any state be formed by the junction of two or more states, or parts of states, without the consent of the legislatures of the states concerned, as well as of congress. Const. art. 4, s. 3. And the United States shall guaranty to every state in this union, a republican form of government. Id. art. 4, s. 4. See the names of the several states; and Constitution of the United States.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.http://legal-dictionary.thefreedictionary.com/United+States

1776

Congress adopts Declaration of Independence, July 4: The birth-certificate of the United States of America

1779

1779 Morgan was the driving force behind Western expansion in the US, financing and controlling West-bound railroads through voting trusts. In 1879 Cornelius Vanderbilt’s Morgan-financed New York Central Railroad gave preferential shipping rates to John D. Rockefeller’s budding Standard Oil monopoly, cementing the Rockefeller/Morgan relationship.

The House of Morgan now fell under Rothschild and Rockefeller family control. A New York Herald headline read, “Railroad Kings Form Gigantic Trust”. J. Pierpont Morgan, who once stated, “Competition is a sin”, now opined gleefully, “Think of it. All competing railroad traffic west of St. Louis placed in the control of about thirty men.”[8]    http://www.bibliotecapleyades.net/sociopolitica/world_order/WorldCh01-1

President Theodore Roosevelt referred to him as the “King Pin” of the Republican Party. Aldrich “did not bother with oratorical display,” wrote one historian, “but relied upon his charm, his commanding appearance, his superior mind, his ability to speak forthrightly, and his exceptional memory” to influence Senate action. Patriarch to a political family, Aldrich’s grandson, Nelson Rockefeller, became vice president and his great-grandson, Jay Rockefeller, became a U.S. senator. 
http://www.senate.gov/artandhistory/history/common/generic/Featured_Bio_Aldrich.htm

1780

Bank of Pennsylvania was chartered.

In July, the Bank of Pennsylvania was established for the purpose of raising funds to carry on the war.

1781

Chartering of the Bank of North America

The Continental Congress, following the suggestion of Robert Morris, the financier of the American Revolution, created the Bank of North America.

The Continentalist No. IV, [30 August 1781]

1782

1782Financial Policy
The First American Bank

Congress charters the Bank of North America—the first financial institution chartered by the United States and the first real bank in the young republic. A de facto central bank whose shares were held by the public, the Bank of North America raised money to support the ongoing war against Britain. Philadelphia financier Robert Morris, who had given millions of his personal wealth to support the war, was the bank’s first superintendent.   http://www.aba.com/About/Pages/140timeline.aspx

1784

1784Banking Pioneers and Landmarks
Hamilton and the Bank of New York

Future Treasury Secretary Alexander Hamilton founds the Bank of New York, the oldest continuously operating bank in the United States—operating today as BNY Mellon. The Bank of New York and the Bank of Massachusetts, founded the same year, are the first two state banks; the latter, through mergers, becomes part of what is today Bank of America.  http://www.aba.com/About/Pages/140timeline.aspx  (ABA American Bankers Association)

Alexander Hamilton

BIRTHDATE: January 11, 1757
PLACE OF BIRTH: Nevis, British West Indies (Caribbean Islands)
EDUCATION: Columbia University, King’s College
FOUNDED: The Bank of New York, now BNY Mellon, in 1784
PREVIOUS JOBS: Soldier, lawyer, orator, innovator, writer
https://www.bnymellon.com/us/en/who-we-are/hamilton.jsp

1784- Fleet National Bank  111 Westminster St Providence, RI 02903 FDIC Certificate #:2558  Date Established: January 1, 1784    Bank Charter Class: National Bank     Date of Deposit Insurance: January 1, 1934  Inactive as of: June 13, 2005     Closing History:  Merged without Assistance into Acquiring institution: Bank of America, National Association, Charlotte, NC -(3510)

click thumbnail to enlarge

                

Application to do business in Florida 2004

            

2005                 2006                 2007              2008               2009              2010               2011

  

withdrawal     2011

Apparently-something is wrong with these thumbnails......I will replace all of the pages soon.    jt

 

1784- Financing New York
After the Revolutionary War, New York City was in a state of disrepair. But the city was determined to bounce back. Just months after British forces left U.S. soil, local merchants and lawyers came together to create a bank that would forever play a crucial role in the global financial system.  https://www.bnymellon.com/us/en/timeline.jsp

1784- $500,000
The Bank of New York opens for business with $500,000 in capital. Alexander Hamilton, financial leader and respected New York lawyer, singlehandedly writes its constitution and becomes one of the bank's directors. https://www.bnymellon.com/us/en/timeline.jsp

NOTE:  In an effort to rejuvenate the economy after the war, Hamilton was very vocal about the need for a bank. While some called for "land banks"—so called because capital was measured by land—he was a champion for the case of liquid assets that could be converted into cash as needed, which would make international markets more accessible.  https://www.bnymellon.com/us/en/timeline.jsp

1787

1787- Alexander McDougall is appointed first president of The Bank of New York.  https://www.bnymellon.com/us/en/timeline.jsp

NOTE: In 1787, the Fugio becomes the first coin authorized by Congress, though it is never circulated due to its light weight. Meaning "I Fly" in Latin, the coin prominently features the phrase "Mind Your Business."  https://www.bnymellon.com/us/en/timeline.jsp

1789

1789- First in Finance
Already colonel, scholar, lawyer and writer, Alexander Hamilton adds first U.S. Secretary of the Treasury to his list of achievements.  https://www.bnymellon.com/us/en/timeline.jsp

NOTE:    The Bank of New York provides the first loan ever made to the U.S. government, in the amount of $200,000. A solid reputation with world governments—and a superior credit rating—is what still makes the Bank the safest bank in the U.S. today. https://www.bnymellon.com/us/en/timeline.jsp 
 

April 30, 1789, George Washington, standing on the balcony of Federal Hall on Wall Street in New York, took his oath of  office as the first President of the United States.

Born in 1732......

1790

The second session of the first Congress opened January 8, 1790... From the report of Alexander Hamilton, secretary of the treasury, it was found that the United States debt was fifty-four million dollars, for the payment of all of which he recommended adequate provision. No objection was felt in Congress to paying the foreign debt that had been incurred;
but the question of the full assumption by Congress of all the rest of the debts, including those contracted by the states, caused a long and anxious debate. Congress, however, by a small majority finally concluded to pay the whole debt.
In order to do this, the money derived from the sale of western lands was to be applied, together with what remained of the revenue after paying the current expenses of the government. It was also decided to borrow two millions of dollars at five per cent interest. ... [source: The Standard American Encyclopedia, volume Fourteen, George Washington, copyright 1937]

790- Washington, D.C. is not in any state, but is an area of land under the jurisdiction of the United States Congress. 
The U.S. Constitution provided for creation of the district and the Residency Act, signed on July 16, 1790, officially approved the district's creation. 
The states of Maryland and Virginia donated the land, although the portion from Virginia was returned in 1847.

1791

First Bank of the United States established - George Washington 1st President 1789-1797

After the founding of the government under the Constitution, Alexander Hamilton, Secretary of the Treasury, recommended the establishment of a Bank of the United States.  He argued that such a bank would increase the currency by issuing notes for circulation.   It would also make it easier for the government to obtain loans, and would enable the people to pay their taxes.

After considerable debate, Congress voted to establish First Bank of America , with a capital stock of $10,000,000, one fifth of which was subscribed by the government;  the remainder was subscribed by the public.

The bank was permitted to issue notes which were to be receivable for payments due the United States.

First Bank of the United States opened at Philadelphia in December, 1791, and subsequently established eight branches.  The bank had a charter for twenty years, which expired in 1811, and was not renewed because of the opposition to it which developed on the part of a  large number of state banks.

The Bank of the United States was also unpopular because much of its stock was held in foreign countries. [This info came from an older school book- I'll post info on book later]

Providence National Bank, No. 70 South Main Street, was organized in 1791, with John Brown as President, and Olney Winsor, Cashier. Re-organized as a national bank in 1865. Capital, $500,000. Present officers, William Goddard, President; Benjamin W. Ham, Cashier. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html

1791Financial Policy
The First Central Bank

On the urging of Treasury Secretary Alexander Hamilton, Congress charters the First Bank of the United States for a 20-year term. Its purpose is to lend to the government, make loans to businesses and provide a stable money supply through its notes. The new central bank triggers the formation of 18 new commercial banks in just five years, compared with four in all of the United States prior to the First Bank’s chartering. http://www.aba.com/About/Pages/140timeline.aspx

1792

1792Financial Policy
Dollars and Cents

Congress passes a coinage act establishing the national mint in Philadelphia and identifying the coins of smaller amounts comprising a dollar. http://www.aba.com/About/Pages/140timeline.aspx

1792-Starting the Exchange
Long before computers, industrial averages, or opening bells, New York City stockbrokers were changing the way the world does business. Twenty-four gathered under a buttonwood tree just steps from what is now BNY Mellon headquarters to sign a document that would soon lead to the formation of the New York Stock Exchange.  https://www.bnymellon.com/us/en/timeline.jsp 

1792-Trading Up
The New York Stock Exchange opens. The Bank of New York is the first company traded.  https://www.bnymellon.com/us/en/timeline.jsp 
 

Stock Exchange

 


1796

Will We Never Learn

by Jan Tetstone                                                                                                                                                   July 5, 2017

Alexander  Hamilton Was a greedy soul who passed his greed on to his offspring through the trusts he set up for them -at the expense of generations of Americans.

In his farewell address to the American people, President George Washington pointed out how important it is, after forming a Union of the States, to maintain that Union and to put the interests of the whole country before the interests of any one part of the country. He said:

"The basis of our political system is the right of the people to make and alter their constitution of government. But... till changed by... an authentic act of the whole people is sacredly obligatory on all. The very idea of the power and the right of the people to establish government presupposes the duty of every individual to obey the established government..."

Washington pointed out how all parts of the country stood to benefit bt the actions of the national government.

He then warned against foreign entanglements:

"Why quit our own to stand upon foreign ground? Why... entangle our peace and prosperity in the toils of European ambition, rivalship, interest, humor, or caprice? It is our true policy to steer clear of permanent alliances with any portion of the foreign world..."

When Washington gave his Farewell Speech, there were two political parties. The Federalist who supported a strong federal government, and the anti-federalists, who later chose to call themselves "Republicans" who were opposed to a strong federal government.

Alexander Hamilton, the Secretary of the Treasury believed in government by the well-born, talented and rich. He thought that the American people as a whole lacked the ability to solve the problems of government. He wanted to see Americans build factories, manufacture more goods, and expand their foreign trade.

Hamilton was the leader of the Federalist. Thomas Jefferson was the leader of the Anti-federalist, or Republicans. While Hamilton was concerned with order and stability, Jefferson was more concerned with the importance of individual freedom.

Differences of opinion about the powers of Congress have existed throughout American history. Men have used different interpretations of the US Constitution- sometimes broad, sometimes strict-- to obtain their objectives.

President George Washington gave his Farewell Speech to the American people in 1796.

Here we are America. Reaping  the ruins of what the "well-born, talented and rich" greedy men and women have forced on every hard working American- a country of people  robbed of our part of the American dream.....because somewhere along the line Americans didn't heed the warnings of men like George Washington and Thomas Jefferson.

It's time to take a stand against corruption in office on every level.              God Bless America.

1799 

1799Banking Pioneers and Landmarks
Competition in New York

Hamilton’s rival, Aaron Burr, co-founds the Bank of the Manhattan Company, operating today as J.P. Morgan Chase. http://www.aba.com/About/Pages/140timeline.aspx Alexander Hamilton is shot in a duel by long-time rival Aaron Burr. He dies the next day at the age of forty-seven. Hamilton's distrust of Burr was no secret, writing that it was his religious duty to oppose him at all turns.
https://www.bnymellon.com/us/en/timeline.jsp

 

Chase Manhattan Bank, N.A., The
1799 Established President and Directors of the Manhattan Company
03/01/1955 Name Change To Chase Manhattan Bank, The (1799-9/1965)  
09/01/1965 Convert Federal Chase Manhattan Bank, N.A., The
01/01/1976 Acquire By Merger Chase Manhattan Bank of Eastern New York, N.A.
01/01/1976 Acquire By Merger Chase Manhattan Bank of the Southern Tier, N. A.
01/01/1976 Acquire By Merger Chase Manhattan Bank of Western New York, N.A.

01/01/1976 Acquire By Merger Chase Manhattan Bank of Northern New York, N.A.
01/01/1976 Acquire By Merger Chase Manhattan Bank of Long Island, NA
01/01/1976 Acquire By Merger Chase Manhattan Bank of Mid-Hudson, N.A.
01/01/1976 Acquire By Merger Chase Manhattan Bank of Central New York, N.A.
12/01/1976 Acquire By Merger Chase Manhattan Bank of Greater Rochester, N. A.
01/01/1993 Acquire By Merger Chase Lincoln First Bank, National Association
07/14/1996 Merge To State Chemical Bank
07/14/1996 Name Change To Chase Manhattan Bank, The
11/13/2004 Convert Federal JPMorgan Chase Bank, National Association        http://www.dfs.ny.gov/about/histc.txt

 JPMorgan Chase & Co. is one of the oldest, largest and best-known financial institutions in the world. The firm's legacy dates back to 1799 when its earliest predecessor was chartered in New York City.

Our firm is built on the foundation of more than 1200 predecessor institutions. Its major heritage firms — J.P. Morgan, Chase Manhattan, Chemical, Manufacturers Hanover (in New York City) and Bank One, First Chicago, and National Bank of Detroit (in the Midwest) were each closely tied, in their time, to innovations in finance and the growth of the United States and global economies. As JPMorgan Chase & Co does today, these firms also made significant contributions to their local communities.                         http://www.jpmorganchase.com/corporate/About-JPMC/jpmorgan-history

The Manhattan Company was a New York bank and holding company established in 1799.

 JPMorgan Chase & Co. is one of the oldest, largest and best-known financial institutions in the world. The firm's legacy dates back to 1799 when its earliest predecessor was chartered in New York City.

Our firm is built on the foundation of more than 1200 predecessor institutions. Its major heritage firms — J.P. Morgan, Chase Manhattan, Chemical, Manufacturers Hanover (in New York City) and Bank One, First Chicago, and National Bank of Detroit (in the Midwest) were each closely tied, in their time, to innovations in finance and the growth of the United States and global economies. As JPMorgan Chase & Co does today, these firms also made significant contributions to their local communities.           http://www.jpmorganchase.com/corporate/About-JPMC/jpmorgan-history

The Manhattan Company, J.P. Morgan's  earliest predecessor institution, is chartered. https://www.jpmorgan.com/pages/company-history

1799: The Manhattan Company, the firm’s earliest predecessor institution, is chartered. https://www.jpmorgan.com/pages/jpmorgan/emea/uk/about/history

1799- Yellow Fever breaks out in Manhattan. The Bank of New York and many other downtown businesses move to the then independent Greenwich Village. https://www.bnymellon.com/us/en/timeline.jsp

NOTE:The Manhattan Company was a New York bank and holding company established in 1799. The company merged with Chase National Bank in 1955 to form the Chase Manhattan Bank. It is the earliest of the predecessor institutions that eventually formed the current JPMorgan Chase & Co.                 https://www.geni.com/people/William-Few-Sr/5084299452090081889

1800

-There were only twenty-eight  banks in 1800.

-The capital moved from Philadelphia to Washington.

1800- The First National Bank of Laurel
FDIC Certificate #: 4989
Status: Inactive
Closing history: Corrections
Acquiring institution: Deposit Guaranty National Bank (#9784)
Federal Reserve ID: 54432
Date Established: January 01, 1800
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 5 (Interstate: No)
FDIC's unique #: 3328
Numeric code: 3
Regulator: OCC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
State Chartered: No
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: August 01, 1983
Last Structure Change Process Date: September 13, 1983
Last Data Update: October 17, 1995
Data Source Date: April 05, 2012
Location
Address: 401 Central Avenue, Laurel, MS 39440
County: Jones
Quarterly Banking Profile Region: Dallas
FDIC Geographic Region: Dallas
FDIC Supervisory Region: Dallas
FDIC Field Office: Jackson Ms
Office of the Comptroller the Currency (OCC) District: Southwest
Office of Thrift Supervision Region: West
Core Based Statistical Area (CBSA): Laurel, MS (#29860)
CBSA Micro Statistical Area: Yes
History of Changes
Merger - Without Assistance
Corrections
Financial Summary
Total assets: $126.1 mil

Read more: http://www.bankencyclopedia.com/The-First-National-Bank-of-Laurel-4989-Laurel-Mississippi.html#ixzz4I67l9h2W 

http://www.bankencyclopedia.com/The-First-National-Bank-of-Laurel-4989-Laurel-Mississippi.html

1801

National Exchange Bank, No. 55 Westminster Street, was incorporated in 1801, with Amos Troop, President; and Stephen Jackson, Cashier. Capital, $200,000. Re-organized as a national bank in July, 1865, with a capital of $500,000. Present officers are: Henry L. Kendall, President; C. H. Sheldon, Cashier. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html 

1803

Roger Williams Bank, chartered in 1803Roger Williams Bank, Providence
The Roger Williams Bank was established in 1803 and owes it name to the early proponent of religious freedom who founded the Providence Plantation Colony in 1636. The bank was first located on North Main Street, in what is now the Cheapside Block at no. 40.
Seth Wheaton, a former sea captain, soldier in the Revolutionary War and the founder of the Providence Marine Corps of Artillery, served as its first president (for more information, see the book, Rhody Redlegs). Nathaniel Waterman was employed as the bank’s cashier.
In the book, Chartered Banking in Rhode Island, 1791-1900, Howard Kemble Stokes notes that Wheaton’s political connections played a role in the bank’s launch:
“In the organization of the Roger Williams Bank, chartered in 1803, politics seemed to have had some part. Previous to that time the United States deposits had been carried in the Providence Bank. In 1803 Jefferson wrote to Secretary Gallatin, ‘as to the patronage of the republican bank in Providence, I am decidedly in favor of making all the banks republican by sharing deposits amongst them in proportion to the disposition they show.’ The Roger Williams Bank soon began to get the public deposits and continued to hold them until the second United States Bank established a branch in Providence in 1817. The Bristol Bank carried the government deposits in Bristol; the Newport Bank in Newport. These three were the only banks in Rhode Island which purchased United States bonds during the war of 1812. Their political affiliations were thus apparent.”
In 1823, architect John Holden Greene designed an edifice at 27 Market Square. Roger Williams Bank, which owned the building, was located on the second floor (see photo below). Greene designed several other significant buildings around Providence, including the First Unitarian Church, the First Congregational Church, the main building at the Moses Brown School and the Benoni Cooke House. The Roger Williams Bank building was also known as the Franklin Institute Building. It was demolished in 1912.
The institution was incorporated as a national bank on August 7, 1865 and took charter #1506. According to the National Bank Note Census, the Roger Williams National Bank issued $1,030,400 in large-sized national currency, from $5 to $100 bills, during its existence. Only 8 of these notes are known to have survived to this day. An 1865 $10 from the bank can be seen here, in the archives of Brown University.
At the end of the 19th century, this institution was also known as the “Clearing House Bank” because M. E. Torrey, the cashier there for over 40 years, was also the manager of the Clearing House Association of Providence.
In January of 1900, Roger Williams National Bank was acquired by the Industrial Trust Company, which was just beginning its extensive buying spree of Rhode Island banks.
 http://www.ricurrency.com/bank-name/roger-williams-bank/

The Roger Williams National Bank, No. 27 Market Square, organized Oct. 26, 1803, with a capital of $150,000. Seth Wheaton, President; Nathan Waterman, Cashier. Re-organized in 1865 as a national bank, with a capital of $500,000. Present officers: Cyrus Harris, President; W. H. Waterman, Cashier. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html
 

1804 

 William Few Jr. was United States Commissioner of Loans 1804; director of the Manhattan Bank 1804-1814, and president in 1814; Among other things, Few was  delegate to the Federal Constitutional Convention in Philadelphia in 1787 and one of the signers of the Constitution; delegate to the Georgia convention that ratified the Federal Constitution in 1788 http://bioguide.congress.gov/scripts/biodisplay.pl?index=F000100

1804- First in Finance
The Bank of New York becomes depositary for what is believed to be the nation's first trust, established to provide for Alexander Hamilton's family after his death. https://www.bnymellon.com/us/en/timeline.jsp

NOTE  Alexander Hamilton was a member of the Philadelphia Constitutional Convention in 1787 which adopted the Constitution of the United States and signed it; member of the State ratification convention in 1788. http://bioguide.congress.gov/scripts/biodisplay.pl?index=H000101

1809

The first bank failure in U.S.: history occurred: Farmer's Exchange Bank of Gloucester, Rhode Island.
 

1811

There were eighty-eight  banks, with a capital stock of $42,600,000.

1812

  Samuel Osgood - 1812-1813 (President of City Bank of New York)

18121866 citiciti
A new bank for New York supports foreign trade
In 1811, a group of merchants takes the first steps towards setting up a new bank to help New York compete with rivals Philadelphia, Boston, and Baltimore
As debate on the renewal of the Bank of the United States charter continued into 1811, some New York merchants who were aligned with U.S. President James Madison applied to set up a new bank.

Noting that it was easier to do banking in Philadelphia, Boston, and Baltimore than in New York, they petitioned the state assembly on February 11, "praying to be incorporated as a banking company."

They had to wait over a year to see their wishes fulfilled. The first setback came on March 22. Vice President George Clinton's faction in the state assembly defeated the petition.

When it reconvened in 1812, the assembly then faced petitions for the establishment of two more banks from merchants aligned with Clinton and associates of the former Bank of the United States. Enter one Samuel Osgood, elder statesman. He had a plan.

The state lawmakers would support the original petition from 1811. He himself would be appointed president of the new bank.

The original merchants aligned with Madison would secure half the remaining seats on the board, while the rest would go to the new group of merchants who supported Clinton.

Now with broader backing, the charter sailed through the state assembly and, on June 16, 1812, City Bank of New York came into existence.

Though Clinton had died of a heart attack three months earlier, his supporters now controlled almost half of the board of the new bank in his home state. With the passing of the charter, the 200-year story of Citibank began.
http://www.citigroup.com/citi/about/mobile/200years/detail-1812.html

Citibank N.A.
1812 Established City Bank of New York
1865 Convert Federal National City Bank of New York
05/01/1897 Acquire By Merger Third National Bank of the City of New York
06/01/1921 Acquire By Merger Commercial Exchange National Bank of New York
12/01/1921 Acquire By Merger Second National Bank of the City of New York
06/01/1926 Acquire By Merger Peoples Trust Company of Bklyn N.A. of New York
06/01/1929 Acquire By Merger Farmers' Loan State Bank
1931 Acquire By Merger Long Island National Bank of New York
11/01/1931 Acquire By Merger Bank of America National Association


03/01/1955 Name Change To First National City Bank of New York
01/01/1962 Name Change To First National City Bank
01/01/1963 Acquire By Merger First National City Trust Company
1976 Name Change To Citibank, N.A.
01/01/1976 Acquire By Merger Citibank (Suffolk), N.A.
01/01/1976 Acquire By Merger Citibank (Mid-Hudson), N.A.
07/17/2001 Acquire By Merger European American Bank
08/30/2003 Acquire By Merger Citibank (New York State)

Bank of America (1812-1928)
1812 Established Bank of America (1812-1928)
04/01/1920 Acquire By Merger Franklin Trust Company
07/01/1922 Acquire By Merger Atlantic National Bank of the City of NY
08/01/1923 Acquire By Merger Battery Park Bank
03/01/1928 Convert Federal Bank of America National Association
04/01/1928 Acquire By Merger Bowery and East River National Bank of New York
04/01/1928 Acquire By Merger Commercial Exchange National Bank in New York
1929 Acquire By Merger Nassau Bank of Brooklyn
05/01/1929 Acquire By Merger Blair National Bank of New York
05/01/1929 Acquire By Merger Traders National Bank of Brooklyn in New York
02/01/1930 Acquire By Merger Murray Hill Trust Company
11/01/1931 Merge To Federal National City Bank of New York
03/01/1955 Name Change To First National City Bank of New York
01/01/1962 Name Change To First National City Bank
1976 Name Change To Citibank, N.A.

 

From Citi Grows Many Names

Amadeo Giannini
Banker
Amadeo Pietro Giannini, also known as Amadeo Peter Giannini or A.P. Giannini was an American banker who founded the Bank of America. Giannini is credited as the inventor of many modern banking practices.
Born: May 6, 1870, San Jose, CA
Died: June 3, 1949, San Mateo, CA
Education: Heald College
Children: Amadeo Peter Giannini, Lawrence Mario Giannini, More
Organizations founded: Bank of America, Bank of Italy, Transamerica Corporation

Bank of America National Association
1812 Established Bank of America (1812-1928)
04/01/1920 Acquire By Merger Franklin Trust Company
07/01/1922 Acquire By Merger Atlantic National Bank of the City of NY
08/01/1923 Acquire By Merger Battery Park Bank
03/01/1928 Convert Federal Bank of America National Association
04/01/1928 Acquire By Merger Bowery and East River National Bank of New York
04/01/1928 Acquire By Merger Commercial Exchange National Bank in New York
1929 Acquire By Merger Nassau Bank of Brooklyn
05/01/1929 Acquire By Merger Blair National Bank of New York
05/01/1929 Acquire By Merger Traders National Bank of Brooklyn in New York
02/01/1930 Acquire By Merger Murray Hill Trust Company
11/01/1931 Merge To Federal National City Bank of New York
03/01/1955 Name Change To First National City Bank of New York
01/01/1962 Name Change To First National City Bank
1976 Name Change To Citibank, N.A.

Bank of America Trust Company
1931 Established Bank of America Trust Company
1931 Purchased Trust Bank of America, National Association
12/19/1931 Merge To State City Bank Farmers Trust Company
01/30/1959 Convert Federal First National City Trust Company
01/01/1963 Merge To Federal First National City Bank
1976 Name Change To Citibank, N.A.
http://www.scripophily.com/nybankhistoryb.htm

Citi Fiduciary Trust Company
02/26/1991 NYS Chartered Smith Barney Trust Company
11/03/1993 Name Change To Smith Barney Shearson Trust Company
10/20/1994 Name Change To Smith Barney Private Trust Company
03/02/2000 Name Change To Citi Fiduciary Trust Company
12/02/2001 Merge To Federal Travelers Bank & Trust, FSB

Citibank (Central) N.A.
1972 Established Citibank (Central), N.A.
03/06/1973 Acquire By Merger First Trust & Deposit Company of Oriskany Falls
01/01/1976 Merge To Federal Citibank (Western), N.A.
01/01/1976 Name Change To Citibank (New York State), N.A.
05/01/1987 Convert State Citibank (New York State)
08/30/2003 Merge To Federal Citibank N. A.

Citibank (Eastern), N.A.
1972 Established Citibank (Eastern) N.A.
1972 Acquire By Merger National Exchange Bank of Castleton on Hudson
01/01/1976 Merge To Federal Citibank (Western) N.A.
01/01/1976 Name Change To Citibank (New York State) N.A.
05/01/1987 Convert State Citibank (New York State)
08/30/2003 Merge To Federal Citibank N. A.

Citibank (Mid-Hudson), N.A.
1972 Established Citibank (Mid-Hudson), N.A.
1972 Acquire By Merger Central Valley National Bank
01/01/1976 Merge To Federal Citibank, N.A.

Citibank (Mid-Western), N.A.
1972 Established Citibank (Mid-Western), N.A.
06/08/1972 Acquire By Merger State Bank of Honeoye Falls
01/01/1976 Merge To Federal Citibank (Western) N.A.
01/01/1976 Name Change To Citibank (New York State) N.A.
05/01/1987 Convert State Citibank (New York State)
08/30/2003 Merge To Federal Citibank N. A.

Citibank (New York State)
1972 Established Citibank (Western), N.A.
01/01/1976 Name Change To Citibank (New York State) N.A.
05/01/1987 Convert State Citibank (New York State)
08/30/2003 Merge To Federal Citibank N. A.

Citibank (New York State) N.A.
1972 Established Citibank (Western), N.A.
1972 Acquire By Merger Silver Creek National Bank
01/01/1976 Acquire By Merger Citibank (Eastern), N.A.
01/01/1976 Acquire By Merger Citibank (Mid-Western), N.A.
01/01/1976 Acquire By Merger Citibank (Central), N.A.
01/01/1976 Name Change To Citibank (New York State) N.A.
05/01/1987 Convert State Citibank (New York State)
08/30/2003 Merge To Federal Citibank N. A.

Citibank (Suffolk), N.A.
1971 Established Citibank (Suffolk), N.A.
01/01/1976 Merge To Federal Citibank, N.A.

Citibank (Western) N.A.
1972 Established Citibank (Western), N.A.
1972 Acquire By Merger Silver Creek National Bank
01/01/1976 Acquire By Merger Citibank (Eastern), N.A.
01/01/1976 Acquire By Merger Citibank (Mid-Western), N.A.
01/01/1976 Acquire By Merger Citibank (Central), N.A.
01/01/1976 Name Change To Citibank (New York State) N.A.
05/01/1987 Convert State Citibank (New York State)
08/30/2003 Merge To Federal Citibank N. A.

Citizens and Farmers Trust Company, Adams NY
1919 Established Citizens Trust Company of Adams
08/15/1932 Acquire By Merger Farmers National Bank of Adams
08/15/1932 Name Change To Citizens & Farmers Trust Company, Adams, NY
03/24/1947 Merge To State Northern New York Trust Company
06/01/1963 Name Change To Marine Midland Trust Company of Northern New York
01/01/1970 Name Change To Marine Midland Bank - Northern
01/01/1976 Merge To State Marine Midland Bank (12/75-2/80)
02/01/1980 Convert Federal Marine Midland Bank, N.A.
12/31/1993 Convert State Marine Midland Bank
03/29/1999 Name Change To HSBC Bank USA
12/31/1999 Merge To State Republic Bank of New York
12/31/1999 Name Change To HSBC Bank USA
06/30/2004 Convert Federal HSBC Bank USA

Citizens Bank & Trust Company
1887 Established Citizens Bank & Trust Company
09/30/1947 Merge To State Security Trust Company of Rochester
04/01/1984 Name Change To Security Trust Company
12/01/1984 Name Change To Security Norstar Bank
12/01/1985 Name Change To Norstar Bank (Rochester)
04/01/1987 Merge To Federal Norstar Bank, N.A.
01/01/1992 Name Change To Fleet Bank of New York, N.A.
10/01/1992 Merge To State Fleet Bank of New York
07/01/1994 Name Change To Fleet Bank
11/13/1997 Merge To Federal Fleet Bank N.A.
http://www.scripophily.com/nybankhistoryc.htm

City Bank of New York
1812 Established City Bank of New York

1865 Convert Federal National City Bank of New York
05/01/1897 Acquire By Merger Third National Bank of the City of New York
06/01/1921 Acquire By Merger Commercial Exchange National Bank of New York
12/01/1921 Acquire By Merger Second National Bank of the City of New York
06/01/1926 Acquire By Merger Peoples Trust Company of Bklyn N.A. of New York
06/01/1929 Acquire By Merger Farmers' Loan State Bank
1931 Acquire By Merger Long Island National Bank of New York
11/01/1931 Acquire By Merger Bank of America National Association
03/01/1955 Name Change To First National City Bank of New York
01/01/1962 Name Change To First National City Bank
01/01/1963 Acquire By Merger First National City Trust Company
1976 Name Change To Citibank, N.A.
01/01/1976 Acquire By Merger Citibank (Suffolk), N.A.
01/01/1976 Acquire By Merger Citibank (Mid-Hudson), N.A.
07/17/2001 Acquire By Merger European American Bank
08/30/2003 Acquire By Merger Citibank (New York State)
http://www.dfs.ny.gov/about/histc.txt 

The City Bank of New York was formed on June 16th, 1812, after overcoming many obstacles and political maneuverings. Led by Samuel Osgood, a far-sighted elder statesman who believed in expanding trade across borders, the bank let New York compete with Boston, Baltimore and Philadelphia for the nation's business.
http://www.citigroup.com/citi/about/history/101.htm

First National City Bank of New York
         1812 Established City Bank of New York

         1865 Convert Federal National City Bank of New York
   05/01/1897 Acquire By Merger Third National Bank of the City of New York
   06/01/1921 Acquire By Merger Commercial Exchange National Bank of New York
   12/01/1921 Acquire By Merger Second National Bank of the City of New York
   06/01/1926 Acquire By Merger Peoples Trust Company of Bklyn N.A. of New York
   06/01/1929 Acquire By Merger Farmers' Loan State Bank
         1931 Acquire By Merger Long Island National Bank of New York
   11/01/1931 Acquire By Merger Bank of America National Association
   03/01/1955 Name Change To First National City Bank of New York
   01/01/1962 Name Change To First National City Bank
   01/01/1963 Acquire By Merger First National City Trust Company
         1976 Name Change To Citibank, N.A.
   01/01/1976 Acquire By Merger Citibank (Suffolk), N.A.
   01/01/1976 Acquire By Merger Citibank (Mid-Hudson), N.A.
   07/17/2001 Acquire By Merger European American Bank
   08/30/2003 Acquire By Merger Citibank (New York State)

First National City Trust Company

         1822 Established Farmers Fire Insurance & Loan Company
         1836 Name Change To Farmers Loan and Trust Company
   06/01/1929 Purchased Trust National City Bank of New York
   06/01/1929 Name Change To City Bank Farmers Trust Company
   12/19/1931 Acquire By Merger Bank of America Trust Company
   01/30/1959 Convert Federal First National City Trust Company
   01/01/1963 Merge To Federal First National City Bank
         1976 Name Change To Citibank, N.A.     

  http://www.dfs.ny.gov/about/histf.txt

 

1813

Bank wins depository status
City Bank is rewarded for helping finance the U.S. government's effort in the War of 1812 against Britain
From 1812 to 1814 the United States and Britain were at war. Congress had declared hostilities in 1812 following tensions with Britain over America's trade with France. In the summer of 1814, British troops captured Washington D.C., the nation's new capital. They set fire to several public buildings, including the White House and the Capitol. The backdrop to these dramatic events was the French Emperor Napoleon's vision of his country's global dominance, which was defeated - at least temporarily - at the hands of Britain and its coalition partners Austria, Prussia, and Russia in the spring of 1814. Napoleon's forced abdication and brief exile to the Mediterranean island of Elba strengthened the position of Britain, which was able to divert increased resources to the conflict across the Atlantic (Napoleon escaped from Elba, to be finally defeated at the Battle of Waterloo in 1815). During the war, the United States' currency and treasury bills were losing value, trade was languishing and businesses failing. In mid-July, City Bank of New York appointed a committee of directors to "make proper arrangements for the removal of the books, cash etc., belonging to the bank, in case of the invasion of the city by the enemy." A separate committee comprising William Irving, John Swartwout, and Samuel Tooker was later set up to cooperate with other banks and "prevent the export of specie to the enemy." Following the British invasion of Washington, New York City's banks suspended gold and silver payments on August 31, a day after banks in Philadelphia did the same. As hostilities began winding down towards the end of 1814, City Bank lent the federal government $200,000 to help it meet interest and amortization payments on its debt. The bank had already lent $500,000 to the underwriter of a government bond issue earlier in the year and had also subscribed to war bonds in 1813. In exchange, it was designated as a government depository, receiving a third of all federal balances held in New York.  http://www.citigroup.com/citi/press/mobile/ir/html/timeline/index-com.html

William Few- 1813-1817 President of City Bank of New York

1813-The Bank of New York establishes a relationship with Baring Brothers, a British banking house. When Baring later made a substantial loan to the Bank in 1822, successful repayments improved the Bank’s financial position and set the stage for strong international ties. https://www.bnymellon.com/us/en/timeline.jsp

Manufacturers' National Bank, No. 37 South Main Street, was incorporated in 1813, with a capital of $220,000. Re-organized as a national bank in 1865, with a capital of $500,000; surplus of $183,000. Its first officers were: O. Wilkinson, President; Joseph Wheelock, Cashier. Present officers: Thomas Harkness, President; Gilbert A. Phillips, Cashier. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html

1814

Union Bank, No. 10 Westminster Street, was incorporated in 1814, with Ephriam Bowen, President. Capital, $500,00. Present officers are: Henry G. Russell, President; Joseph C. Johnson, Cashier. Present capital, $800,000. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html

 
1815

The number of state banks increased from 88 to 246.

Many of these banks were organized without proper restriction and therefore issued notes beyond their power to redeem.  The loose credit system of selling public lands in the West led to inflation.   Disorder followed because many of the banks were  not properly supervised.

During the period from 1814 to 1817,the government received for the sale of its land worthless banknotes which amounted to more than $4,000,000

1816

Second Bank of the United States is chartered -James Madison was 4th President 1809-1817

The charter for the first Bank of the United States had not been renewed by Congress when it ran out, and a second Bank of the United States had been chartered in 1816. Toward the end of Jackson's first term a bill was passed by Congress to renew the charter of this second bank.

President Jackson, in keeping with his frontier upbringing , disliked the bank.  He was afraid, as were many of the common people, that it was operated for the benefit of the moneyed classes.  Because of his personal feelings,  he vetoed the bill of Congress to extend its license...

After he was elected for the second term, Jackson ordered the Secretary of the Treasury to withdraw all United States funds from the national bank and to place them in various state banks. [source: History of Our United States, Second Edition, page 285]

Second National Bank, No. 56 Westminster Street, incorporated with a capital of $500,000. First officers were: William Sprague, President; F. Salisbury, Cashier. May 1, 1877, the capital was reduced to $300,000. Present officers: James Kimball, President; William W. Paine, Cashier. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html

1817

Peter Staff - 1817-1825 President of City Bank New York

The South Carolina National Bank of Charleston is one of the most important buildings on Broad Street, South Carolina's oldest commercial street. It has been in continuous use as a bank since it was constructed in 1817. In the early 19th century, Charleston ranked highly enough as a commercial center to have a branch of the Second Bank of the United States, whose charter was drawn up by John C. Calhoun, the State's preeminent statesman.

This financial institution was the second attempt at a national bank; The First Bank of the United States had also established a branch in Charleston, now City Hall.

This Second Bank branch, that of Discount and Deposit, was the only bank in the city equipped to handle the international transactions so crucial to the rice trade, a mainstay of the Lowcountry economy. http://www.nps.gov/nr/travel/charleston/sbc.htm

1818

Brown Brothers Harriman was established in Philadelphia, 
Pennsylvania in 1818. Through strategic investments and innovative business decisions, we have transitioned from leaders in merchant banking and transatlantic trade to an integrated worldwide financial services firm. We honor our past and we try to learn from it. But, in the day-to-day management of our business, we try to exercise enlightened opportunism. Because we are not beholden to stockholders, we try to take the long view and do what is best for our clients and the Partnership. 
https://www.bbh.com/wps/portal/ourfirm/history

Merchants' National Bank, No. 14 Westminster Street, was incorporated February, 1818. Re-organized as a national bank in 1865. Capital, $100,000. Officers: R. C. Taft, President; J. W. Vernon, Cashier. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html

National Eagle Bank, No. 27 Market Square, was incorporated in February, 1818, with Wheeler Martin as Present, and John Lippitt, Cashier. Capital, $500,000. Re-organized as a national bank in 1865. Present officers: Joseph Sweet, President; Charles F. Sampson, Cashier. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html 
 

1819

Stockton and Darlington Railway funded by Barclays                              http://www.timeline.barclays.com/content/1690/The-start-of-Barclays.html

Providence Institution for Savings, No. 76 South Main Street. Incorporated in 1819, with T. P. Ives,
President; James Lippitt, Secretary; John Howland, Treasurer. Its present officers are: William
Goddard, President; William G. Dearth, Secretary; S. C. Blodgett, Treasurer.
http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html

1822

The Bank of New York establishes a relationship with Baring Brothers, a British banking house. When Baring later made a substantial loan to the Bank in 1822, successful repayments improved the Bank’s financial position and set the stage for strong international ties. https://www.bnymellon.com/us/en/timeline.jsp

1823

The Chemical New York Corporation began as the New York Chemical Manufacturing Company. The company was established in 1823 by Baldhead P. Melick, Mark Spenser, and Geradus Post. These founders originally wanted to form a bank; however, due to laws governing banks at that time, it was easier to start a company for other purposes and then add banking activities to the company's chartered activities. The founders followed precisely that formula and in 1824 established Chemical Bank as a division of New York Chemical Manufacturing Company.

The bank thrived through the following decades. In 1884, when New York Chemical Manufacturing Company's charter expired, the chemical company was liquidated and the company was reincorporated as a bank only. In 1853 the bank became a founding member of the New York Clearing House, an association of banks formed to help members clear banking transactions. 
http://www.library.hbs.edu/hc/lehman/chrono.html?company=chemical_new_york_corp

Lime Rock National Bank, No. 41 Westminster Street, was incorporated in 1823, at Lime Rock, in the town of Smithfield, with a capital of $40,000. Removed to Providence about the year 1849. Re-organized as a national bank in 1865, with a capital of $250,000. First officers: John Jenckes, President; S. E. Gardner, Jr., Cashier. Present officers: Thomas J. Hill, President; John W. Angell, Cashier. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html

Mechanics' National Bank, No. 37 South Main Street, was incorporated in June, 1823. Charter amended in 1827. Capital, $500,000. First officers were: Peter Grinnell, President; Stanhope Newell, Cashier. Present officers are: Levi Dexter, President; Samuel H. Tingley, Cashier. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html 

National Bank of North America, No. 48 Weybosset Street, was incorporated in October, 1823, with Cyrus Butler, President; John Taylor, Cashier. Re-organized as a national bank in May, 1865. Capital, $1,000,000. Present officers: Seth Padeford, President; C. E. Jackson, Cashier. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html 

  1824

The Chemical Bank is established.  https://www.jpmorgan.com/pages/company-history

1824: The Chemical Bank is established.  https://www.jpmorgan.com/pages/jpmorgan/emea/uk/about/history

1825

Thomas L. Smith - 1825-1827 President City Bank of New York

1827

Isaac Wright 1827-1832 President of City Bank of New York

 

Mechanics' National Bank, No. 37 South Main Street, was incorporated in June, 1823. Charter amended in 1827. Capital, $500,000. First officers were: Peter Grinnell, President; Stanhope Newell, Cashier. Present officers are: Levi Dexter, President; Samuel H. Tingley, Cashier. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html 

1828

High Street Bank, was incorporated June, 1828, with William Valentine, President; W. P. Olney, Cashier. Capital, $100,000. Present officers: A. B. Curry, President; E. Allen, Cashier. The present capital is $120,000. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html

1829

Atlantic National Bank of the City of New York
1829 Established Merchants Exchange Bank in the City of New York
1865 Convert Federal Merchants Exchange Natl Bank of the City of NY
07/01/1914 Name Change To Atlantic National Bank of the City of NY
07/01/1922 Merge To State Bank of America (1812-1928)
03/01/1928 Convert Federal Bank of America National Association
11/01/1931 Merge To Federal National City Bank of New York
03/01/1955 Name Change To First National City Bank of New York
01/01/1962 Name Change To First National City Bank
1976 Name Change To Citibank, N.A. 
   http://www.dfs.ny.gov/about/hista.tx

1831

Globe National Bank, No. 62 Westminster Street, was incorporated in 1831, with E. D. Pearce as President, and John R. Bartlett, Cashier. Re-organized in 1865, as a national bank, with a capital of $600,000. April, 1877, the capital was reduced to $300,000. Present officers are: Jesse Metcalf, President; T. Salisbury, Cashier. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html  

Rhode Island National Bank, No. 70 Weybosset Street, incorporated June, 1831, as the Arcade Bank, with Charles Dyer, President, and William C. Snow, Cashier. Capital, $200,000. Re-organized in 1865 as a national bank, with a capital of $600,000. Present officers: Henry Lippett, President; S. H. Tabor, Cashier. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html

 Weybosset National Bank, No. 55 Westminster Street, incorporated in June, 1831, with William Rhodes, President; Luke Greene, Cashier. Capital, $200,000. Re-organized as a national bank in June, 1865. Present officers are: George A. Seagrave, President; O. A. Jillson, Cashier. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html

1832

Thomas Bloodgood - 1832-1844 President , City  Bank of New York

1833

American National Bank, No. 97 Westminster Street, was incorporated in 1833, with a capital of $300,000. The first officers were: Henry P. Franklin, President; D. C. Cushing, Cashier. Re-organized as a national bank, August, 1865. Capital, $1,437,650. Surplus, $200,000. Present officers are: Stephen Harris, President; William Olney, Cashier. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html

City National Bank, No. 98 Weybosset Street, was incorporated in 1833, with a capital of $200,000. Re-organized as a national bank in 1865, with a capital of $500,000. First officers: Anthony Arnold, President; W. B. R. Watson, Cashier. Present officers: Amos C. Barstow, President; Edwin A. Smith, Cashier.
http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html

Commercial National Bank, No. 11 Market Square, was organized Feb. 11, 1833, with Richmond Bullock as President, and David Andrews, Cashier. Re-organized as a national bank in 1865, with a capital of $100,000. Present officers: Daniel Day, President; Henry G. Arnold, Cashier.
http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html 

Old National Bank, No. 21 Weybosset Street, was incorporated in 1833, with a capital of $120,000. Re-organized as a national bank in June, 1865, with a capital of $500,000. The first officers were: Amasa Martin, President; Joseph Howard, Cashier. Present officers: George W. Hallett, President; Francis A. Cranston, Cashier. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html

"The Phenix Bank was incorporated in October, 1833. Its first president
was James F. Simmons, who continued until about 1843, when he was followed
by Samuel B. Wheaton. He was succeeded by Edward Pearce in 1851. After
about 30 years of service he was followed by Jonathan Chace, the present
official, in 1881. The capital of this bank in 1838 had reached $160,000;
and in subsequent years it increased until in 1863 it reached $437,650. In
1865 it was reorganized as the Phenix National Bank, with a capital of
$450,000. The capital has since remained the same in name, but a surplus
has been accumulating which now amounts to $350,000. The first cashier was
Jesse N. Olney, followed by Benjamin White, previous to 1838, who continued
till 1875, when he was succeeded by George E. Martin, who for several years
had served as assistant cashier, and still holds the office of
cashier. This bank was originally located at Pawtucket, under the name of
Farmers' and Mechanics' Bank, but afterward moved to Providence, where it
received the new name. Here, in 1838, it was located at 39 Market
street; in 1844 at 41 Market street; in 1852 at 7 What Cheer Building,
where it remained until 1889, when it was domiciled at 58 Dorrance street,
in the Narragansett Hotel building. The present directors are Smith Owen,
Franklin H. Richmond, John S. Ormsbee, Scott W. Mowry, Jonathan Chace,
Edward Pearce, Jr., George E. Martin, Webster Knight, Henry A. Munroe and
Frederick E. Perkins.
http://archiver.rootsweb.ancestry.com/th/read/RIGENWEB/2005-07/1121899966
 

1835

Phenix National Bank, No. 7 What Cheer Building, was incorporated in 1835, with a capital of $200,000. Re-organized as a national bank in 1865, and capital increased to $450,000. First officers were: James F. Simmons, President; Jesse N. Olney, Cashier. Present officers: Edward Pearce, President; George E. Martin, Cashier. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html 

1836

The newly chartered Bank of Charleston purchased the South Carolina National Bank of Charleston building on Broad Street, South Carolina's oldest commercial street  building in 1836, shortly after the Second Bank failed following the withdrawl of all government deposits by President Andrew Jackson.  http://www.nps.gov/nr/travel/charleston/sbc.htm

The Traders' Bank was incorporated in June, 1836, with a capital of
$200,000, which limit has since been maintained. Its location has been,
even to the present time, in the Union Building, No. 4 Westminster
street. It was reorganized in 1865 as the Traders' National
Bank. Successive presidents of this bank have been: Erastus F. Knowlton,
to about 1840; Earl Carpenter, from that time to 1862; Z. R. Tucker, 1863
to 1873; Henry A. Webb, 1874 to the present time. The cashiers have
been: Henry S. Angell, to about 1840; Henry A. Webb, from that time to
1857; Edwin Knight, 1858 to the present time. The directors are Henry A.
Webb, Lewis W. Anthony, Albert H. Manchester, Jr., William A. Tucker, Almon
Wade, William Sessions and Benjamin W. Spink."
http://archiver.rootsweb.ancestry.com/th/read/RIGENWEB/2005-07/1121899966

1837

George Peabody, a Massachusetts’s trader, set up a banking house - George Peabody & Co. - in London in 1837.

J Pierpont Morgan (John Pierpont Morgan) was born into a banking family on April 17, 1837. His father, Junius Spencer Morgan, was a partner at the London-based firm of George Peabody & Co. In 1864, Junius succeeded George Peabody and changed the firm's name to J.S. Morgan & Co. Junius Morgan died on April 8, 1890.  https://www.jpmorgan.com/country/US/en/jpmorgan/about/history/month/apr

1837 George Peabody decided to settle in London, where he established the banking house of George Peabody and Company, specializing in foreign exchange and American securities. http://peabody.yale.edu/collections/archives/biography/george-peabody
 

1840

1840: The Rothschilds become the Bank of England’s bullion brokers. They set up agencies in California and Australia.

1841

Formation of the Mercantile Agency announced July 20, 1841; began business in New York City, Aug. 1, 1841
R.G. Dun enters the Agency, ca. 1850  http://id.loc.gov/authorities/names/n86076622.html
 

1843

§ 225.200 Conditions to Board's section 20 orders.
(a) Introduction. Under section 20 of the Glass-Steagall Act (12 U.S.C. 377) and section 4(c)(8) of the Bank Holding Company Act (12 U.S.C. 1843(c)(8)), a nonbank subsidiary of a bank holding company may to a limited extent underwrite and deal in securities for which underwriting and dealing by a member bank is prohibited. Pursuant to the Securities Act of 1933 and the Securities Exchange Act of 1934, these so-called section 20 subsidiaries are required to register with the SEC as broker-dealers and are subject to all the financial reporting, anti-fraud and financial responsibility rules applicable to broker-dealers. In addition, transactions between insured depository institutions and their section 20 affiliates are restricted by sections 23A and
23B of the Federal Reserve Act (12 U.S.C. 371c and 371c--1). The Board expects a section 20 subsidiary, like any other subsidiary of a bank holding company, to be operated prudently. Doing so would include observing corporate formalities (such as the maintenance of separate accounting and corporate records), and instituting appropriate risk management, including independent trading and exposure limits consistent with parent company guidelines.

1844

Gorham A. Worth - 1844-1856 president, City Bank of New York

In 1844, Henry Lehman immigrated from Rimpar, Germany, to Montgomery, Alabama where he established a small shop selling groceries, dry goods, and utensils to the local cotton farmers. By 1850, his two brothers, Emanuel and Mayer, had joined him in the business, and they named it Lehman Brothers.  http://www.library.hbs.edu/hc/lehman/history.html

In 1844, Henry Lehman immigrated from Rimpar, Germany, to Montgomery, Alabama where he established a small shop selling groceries, dry goods, and utensils to the local cotton farmers. By 1850, his two brothers, Emanuel and Mayer, had joined him in the business, and they named it Lehman Brothers. After Henry Lehman's death in 1855 at the age of 33, the two younger brothers headed the firm for the next four decades. During their tenure, only family members—sons, brothers, and cousins—were permitted as partners. This was a policy that continued until the 1920s.

1845

PNC Financial Services traces its history to the Pittsburgh Trust and Savings Company which was founded in Pittsburgh, Pennsylvania on April 10, 1845.[7][8] Due to the long recovery from the Great Fire of Pittsburgh, PNC was not fully operational until January 28, 1852,[9] when it opened offices at Liberty Avenue and 12th street. The bank was renamed The Pittsburgh Trust Company in 1853.[10] In 1858, the company located its corporate offices at the corner of Fifth Avenue and Wood Street in Pittsburgh where they remain to this day. The bank changed its name to First National Bank of Pittsburgh in 1863, after it became the first bank in the country to apply for a national charter[7] as part of that year's National Banking Act.[11] It received charter number forty-eight on August 5, 1863, with other later banks receiving charters sooner due to paperwork problems and the fact that the bank was already in business.[7][10]

By 1959, after a series of mergers, the bank had evolved into the Pittsburgh National Bank,[12] which later became the leading subsidiary of Pittsburgh National Corporation. Another branch of the current bank, the Philadelphia based Provident National Corporation, dates back to the mid-19th century.[11] https://en.wikipedia.org/wiki/PNC_Financial_Services 
 

1848

Gold discovered in California, January 18.

By 1848 the Bank of Charleston became a regional power with affiliates in Georgia, Alabama, Florida, and Louisiana. The bank managed to survive financially during the Civil War and Reconstruction, despite a $1.5 million loan to the Confederacy. http://www.nps.gov/nr/travel/charleston/sbc.htm

 The Waterbury Bank opens, a predecessor of the Chase Manhattan Bank.        https://www.jpmorgan.com/pages/company-history  

1848: The Waterbury Bank opens, a predecessor of the Chase Manhattan Bank.  https://www.jpmorgan.com/pages/jpmorgan/emea/uk/about/history

1849

Salmon Portland Chase AKA Salmon P. Chase, (nephew of Dudley Chase, cousin of Dudley Chase Denison, and father-in-law of William Sprague [1830-1915])elected to the United States Senate as a Free Soil candidate and served from March 4, 1849, to March 3, 1855; http://bioguide.congress.gov/scripts/biodisplay.pl?index=C000332

Auburn Savings Bank
03/12/1849 NYS Chartered Auburn Savings Bank
09/30/1983 Merge To State Syracuse Savings Bank
05/13/1987 Sav Bnk To Trust
05/13/1987 Name Change To Norstar Bank of Central N.Y.
10/01/1991 Merge To State Norstar Bank of Upstate NY
06/08/1992 Name Change To Fleet Bank of New York
07/01/1994 Name Change To Fleet Bank
11/13/1997 Merge To Federal Fleet Bank N.A.
 

http://www.dfs.ny.gov/about/hista.txt

Lime Rock National Bank, No. 41 Westminster Street, was incorporated in 1823, at Lime Rock, in the town of Smithfield, with a capital of $40,000. Removed to Providence about the year 1849. Re-organized as a national bank in 1865, with a capital of $250,000. First officers: John Jenckes, President; S. E. Gardner, Jr., Cashier. Present officers: Thomas J. Hill, President; John W. Angell, Cashier. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html 
 

1850

HSBC USA Inc.founded in 1850 and is based in New York, New York. HSBC USA Inc. is a subsidiary of HSBC North America Inc. http://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapid=995257

Marine Midland was founded as Marine Bank, a state-chartered bank, on July 10, 1850, with capital of $170,000. It was founded by eight men from across New York--General James S. Wadsworth of Geneseo, J. P. Beekman of Kinderhook, New York, John Arnot of Elmira, John Magee and Constant Cook of Bath, William R. Gwinn of Medina, and George Palmer and James M. Ganson of Buffalo. Both Palmer and Wadsworth had railroad connections. The two had financial interests in and served as directors of the Attica and Hornell Railroad, while Palmer had links also with the Buffalo and State Line Railroad. Palmer was elected president and Ganson was named cashier.

Marine Midland Bank was a bank formerly headquartered in Buffalo, New York, with several hundred branches throughout the state of New York. It was acquired by HSBC in 1980, and changed its name to HSBC Bank USA in 1999.http://www.wow.com/wiki/Marine_Midland_Bank

 

1851

Bank of America, No. 62 Weybosset Street, was incorporated May, 1851, with a capital of $100,000, which has since increased to $200,000. Its first officers were: Abnah Sackett, President; L. B. Frieze, Cashier. Present officers are: Zachariah Chafee, Presiden http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html

The National Bank of Commerce, No. 4 Market Square, was incorporated in 1851, with Amos D. Smith, President; and Joseph H. Bowen, Cashier. Capital, $400,000. Re-organized as a national bank in 1865. Capital, $1,709,200. Present officers: Edward A. Greene, President; John Foster, Cashier. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html

People's Savings Bank, No. 1 Market Square, was incorporated in 1851, with William Sprague, President;
and Jesse Howard, Secretary and Treasurer. The present officers are: E. A. Greene, President; A. C.
Howard, Secretary and Treasurer. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html  
 

1852 

Wells Fargo in Laredo, Texas1852: Henry Wells and William G. Fargo (Mayor of Buffalo, NY from 1862 to 1863 and again from 1864 to 1865), the two founders of American Express, form Wells Fargo & Company to provide express and banking services to California.

Augustus Savin Chase, became Waterbury Bank‘s Cashier in 1852 and President in 1865, controlled it until his death in 1896.http://historicbuildingsct.com/?p=6906

1853

 Fourth National Bank, No. 65 Westminster Street, was organized May 30, 1853, as the Continental Bank, with a capital of $200,000. Re-organized in February, 1865, as the Fourth National Bank, with a capital of $500,000; surplus, $100,000. Present officers: Rhodes B. Chapman, President; Henry R. Chace, Cashier. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html 

Grocers and Producers' Bank, No. 62 Westminster Street, was incorporated in the year 1853, with a capital of $100,000. A. B. Dike, President; Thomas A. Doyle, Cashier. The present capital is $160,000. Present officers are Ezek. Tallman, President; J. B. Calder, Cashier. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html  
 

U.S. Trust becomes the first company in the nation to transact the business of a trust institution.   http://www.ustrust.com/ust/pages/about-us.aspx

Our History and Heritage

At U.S. Trust, we have a long and rich history of helping clients achieve their own unique objectives. Since 1853, we've been committed to listening, building long-term relationships, and helping individuals and their families realize the opportunities they create for themselves, their children, businesses, communities and future generations.

A few of our milestones include:
◦1853: U.S. Trust becomes the first company in the nation to transact the business of a trust institution.
◦1880: U.S. Trust serves as Corporate Trustee for the Panama Canal
◦1906: Bank of Italy, today known as Bank of America, provides loans to citizens of San Francisco to rebuild after the earthquake.
◦1998: NationsBank acquires BankAmerica Corp to create the first coast-to-coast retail banking franchise - Bank of America
◦2007: Bank of America acquires U.S. Trust

http://www.ustrust.com/ust/pages/about-us.aspx

The Chemical New York Corporation began as the New York Chemical Manufacturing Company. The company was established in 1823 by Baldhead P. Melick, Mark Spenser, and Geradus Post. These founders originally wanted to form a bank; however, due to laws governing banks at that time, it was easier to start a company for other purposes and then add banking activities to the company's chartered activities. The founders followed precisely that formula and in 1824 established Chemical Bank as a division of New York Chemical Manufacturing Company.

The bank thrived through the following decades. In 1884, when New York Chemical Manufacturing Company's charter expired, the chemical company was liquidated and the company was reincorporated as a bank only. In 1853 the bank became a founding member of the New York Clearing House, an association of banks formed to help members clear banking transactions. 
http://www.library.hbs.edu/hc/lehman/chrono.html?company=chemical_new_york_corp

Established in 1853 by the nation’s leading banks, The Clearing House originally functioned as the de facto central bank for banks in the United States long before the Federal Reserve was formed—facilitating exchanges, setting monetary policy, issuing a form of currency and even storing vaults of gold to back settlements.

---The Clearing House Association is a New York–headquartered trade group with a deep legacy and tradition. Formed in 1853, it is the nation’s first banking association that today advocates on regulatory, legislative, and legal public policy issues on behalf of the largest U.S. commercial banks before policymakers, courts of law, and standards setters in the United States and abroad.

Banks that own The Clearing House Association:

Comerica
Citibank
Capital one
BNY Mellon
BB&T
Citizens Bank
PNC BANK
M&T Bank
Key Bank
JP Morgan Chase & co.
Wells Fargo
USbank
MUFG
UBS
Bank Financial Group
SunTrust
HSBC
Barclays
State Street
Fifth Third Bank
Bank of the West
Bank of America
Deutsche Bank 
Santander

https://www.theclearinghouse.org/about-tch/tch-owner-banks

1854

1854: Junius Spencer Morgan, J. Pierpont Morgan’s father, partners with George Peabody in the English banking house of George Peabody & Co. He succeeds Peabody as head of the firm and changes its name to J.S. Morgan & Co.     https://www.jpmorgan.com/pages/jpmorgan/emea/uk/about/history

Liberty Bank, No. 9 Exchange Place, was incorporated in 1854, with a capital of $100,000, which has since been increased to $121,150. First officers were: Duty Evans, President; C. R. Drowne, Cashier. These gentlemen have retained these positions since organization. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html 

The Jackson Bank, No. 29 Weybosset Street, incorporated in May, 1854, with a capital of $200,000, which has since been increased to $344,450. First officers were: Eli Aylesworth, President; John A. Bosworth, Cashier. Its present officers are: Alfred Anthony, President; Theodore B. Talbot, Cashier. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html
 
Westminster Bank, No. 56 Westminster Street, organized June 12, 1854, with a capital of $200,000. Gilbert Spaulding, President; Asa B. Clark, Cashier. Present officers are: A. W. Simmons, President; Eli Aylesworth, Cashier. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html

Mechanics' Savings Bank, No. 98 Weybosset Street. Incorporated in July, 1854, with Z. Holden, President;
William H. Harrison, Secretary and Treasurer. Its present officers are: Amos C. Barstow, President;
William Knight, Secretary and Treasurer.
http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html  
 

1856

Moses Taylor - 1856-1882 President of City Bank of New York (National City Bank after 1865 - telegraph lines referred to it as "Citibank")

1856 – Foundation
On July 16, 1856, the Schweizerische Kreditanstalt (SKA) founded by Alfred Escher, the predecessor to today's Credit Suisse, opens for business. Alfred Escher heads the SKA as the first Chairman of the Board of Directors from 1856-1877 and from 1880-1882.  https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html

Northern Bank, No. 56 Weybosset Street, was incorporated in 1856 with a capital of $200,000. First officers were: Stephen T. Olney, President; Peter H. Brown, Cashier. Present capital, $257,000. Present officers are: Henry J. Steere, President; S. Fenner, Cashier. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html
 

1857

During the recession of 1857 many new banks experienced a great deal of financial difficulty. Despite the condition of the economy, Chemical Bank redeemed bank notes in specie after other banks had started issuing paper loan certificates. Chemical Bank weathered the crisis and remained stable through the Civil War.   http://www.library.hbs.edu/hc/lehman/chrono.html?company=chemical_new_york_corp

1858

Discovery of silver in Nevada.

Upon completion of his studies in Europe, Pierpont returned to New York City in 1858 to work for the American agent of George Peabody & Co.  https://www.jpmorgan.com/country/US/en/jpmorgan/about/history/month/apr

Lehman Brothers to engage in larger sales and trades. A New York office was opened in 1858, giving the firm a stronger presence in the commodities trading business as well as a foothold in the financial community.
 

1859

​Washington Mutual Bank
04/12/1859 NYS Chartered Dime Savings Bank of Brooklyn
06/30/1970 Name Change To Dime Savings Bank of New York, The
06/23/1983 Convert Federal Dime Savings Bank of NY, FSB
01/07/2002 Purchased By Washington Mutual Inc.
01/07/2002 Name Change To Washington Mutual Bank

Washington Savings Bank of the City of New York
1897 Established Washington Savings Bank of the City of New York
12/29/1910 Failed

Washington Trust Company of the City of New York
1889 Established Washington Trust Company of the City of New York
01/01/1914 Merge To State Corn Exchange Bank
05/01/1929 Converted To Corn Exchange Bank Trust Company
10/15/1954 Merge To State Chemical Bank and Trust Company
10/15/1954 Name Change To Chemical Corn Exchange Bank
09/01/1959 Name Change To Chemical Bank New York Trust Company
02/17/1969 Name Change To Chemical Bank
07/14/1996 Name Change To Chase Manhattan Bank, The
11/13/2004 Convert Federal JPMorgan Chase Bank, National Association
http://www.dfs.ny.gov/about/histw.txt 
 

---New York Community Bank  was chartered by the State of New York in Queens, a borough of New York City. https://www.mynycb.com/Pages/AboutUs.aspx 

---Queens County Savings Bank​ -Established on April 14, 1859 in the village of Flushing, Queens County Savings Bank - the forebear of New York Community Bank - was the first savings bank chartered by the State of New York in the New York City borough of Queens. https://www.mynycb.com/Pages/AboutUs.aspx

---Colonel E.L. Drake sinks an oil well in western Pennsylvania. A few years before  that, a professor of chemistry at Yale University had analyzed oil and had come to the conclusion that by very simple and inexpensive processes many valuable products could be manufactured from it.

1860

1860: Wells Fargo gains control of Butterfield Overland Mail Company, leading to operation of the western portion of the Pony Express.

Atlantic Savings Bank
04/11/1860 NYS Chartered Atlantic Savings Bank
01/01/1874 Name Change To Bond Street Savings Bank
09/20/1876 Failed
http://www.dfs.ny.gov/about/hista.txt

 

1861

Secession of Mississippi (January9), Florida (January 10),Alabama (January11), Georgia (January 19), Louisiana (January 26), Texas (February 1). Kansas admitted into the Union, January 29.

Southern Confederacy founded at Montgomery, Alabama, February 4; Jefferson Davis chosen as President.

Abraham Lincoln inaugurated, March 4.

Secession of Virginia (April17), Arkansas (May 6), North Carolina (May 21), and Tennessee (June 8).

Salmon Portland Chase AKA Salmon P. Chase was appointed secretary of the treasury by President Abraham Lincoln. He took office on March 7, 1861. The United States now is divided into two countries: The Confederate States of America, with Jefferson Davis as president; The United States of America, with Abraham Lincoln as president. The Union was in need of revenue as the two countries were headed into war..

Chase implemented a unified nationwide banking system with the National Banking Act, and devised the idea of utilizing paper currency to function as war notes. The "greenback" bills, which came in various denominations, became the basis for the federal paper money system that Americans use today. In order to collect taxes to finance the government's war effort, he also established the Bureau of Internal Revenue, which later became known as the Internal Revenue Service.

--As Treasury Secretary from 1861 to 1864, Salmon Chase raised the $500 million needed to finance the Civil War after striving hard to prevent it’s having to be fought at all. To accomplish this, he sold war bonds with the help of early investment bankers Jay Cooke & Co.

Chase also was the father of our modern paper currency as he created the first "greenback" demand note in 1861. We won’t hold the fact that his own face appeared on many of these notes against him. Chase is said to have personally made the decision to have "In God We Trust" added to the bills as well.  http://www.philstockworld.com/tag/10000-bill/ 
 

1862

Above: Letter dated January 3, 1862, from Treasury Secretary Salmon P. Chase to President Abraham Lincoln recommending George S. Boutwell for the newly-created post of Commissioner of Internal Revenue. 
The Abraham Lincoln Papers at the Library of Congress, American Memory Collections.

 

Further reorganization came in the 1950s, replacing the patronage system with career employees. The IRS Restructuring and Reform Act of 1998 prompted the most comprehensive reorganization and modernization of IRS in nearly half a century and established a Taxpayer Advocate Service as an independent voice inside the agency on behalf of the taxpayer.

April 15th has not always been the filing deadline. March 1st was the date specified by Congress in 1913, after the passage of the 16th amendment. In 1918 Congress pushed the date forward to March 15th, where it remained until the tax overhaul of 1954, when the date was again moved ahead to April 15th. For further information on the choice of April 15th as the filing date see Yahoo! External Link and Fortune "Great questions of our age: Why is tax day April 15?" by Jessica Sung. Fortune, Apr 15, 2002. (Volume 145, Issue 8; page. 64,). http://www.loc.gov/rr/business/hottopic/irs_history.html 
 

---The oil industry was developed largely by John D. Rockefeller, who in 1862 invested his first earnings in the oil refining business.

--- In order to further finance the war, the Bureau of Engraving and Printing was established in 1862 to print the Government's first currency, known as greenback because of its color. These were legal tender notes not backed by specie. Chase disapproved in principle of the legal tender notes; with no requirement for specie backing they could be printed in unlimited quantities and were therefore inflationary. He recognized their necessity in a time of emergency, but later, as Chief Justice of the Supreme Court, he would declare the notes unconstitutional.http://www.treasury.gov/about/history/Pages/spchase.aspx 
 

1863

This is where the American people started getting robbed

National bank system established.

Secretary of the Treasury Chase was largely responsible  the Act of 1863,which began the national bank system. It provided for the organization of local banks under the supervision of the national government, and gave them the right to issue bank notes if they owned government bonds with which to back them.

U.S. Bank    
Concentration: All Other Specialization > 1 Billion 
Established: 1863-07-13 
FDIC Insurance: 1934-01-01 
Holden By: U.S. Bancorp 
Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC) http://www.usbanklocations.com/u-s-bank-u-s-bank-national-association.html
 

1863-First National Bank of the City of New York  http://web.archive.org/web/20030408132039/ http://www.citigroup.com/citigroup/corporate/history/data/tree85x11.pdf

The First National Bank of New York opened for business July 25, 1863 with Samuel Thompson as president, James Curphey, formerly of Thompson Brothers as cashier, and George F. Baker as paying teller. http://oasis.lib.harvard.ed

NOTE:1976 First National City Bank becomes Citibank, N.A.(for National Association).http://dca.lib.tufts.edu/features/wriston/about/bankingtimeline.html#footnote60

Traders' National Bank, No. 4 Westminster Street, was organized in 1863, with Erastus F. Knowlton, President; Henry S. Angell, Cashier. Capital, $200,000. Re-organized as a national bank in 1865. Present officers: Henry A. Webb, President; Edwin Knight, Cashier. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html

1864

Morgan Guaranty Trust Company of New York
04/13/1864 Established New York Guaranty and Indemnity Company
12/01/1895 Name Change To Guaranty Trust Company of New York
01/26/1910 Acquire By Merger Morton Trust Company
01/26/1910 Acquire By Merger Fifth Avenue Trust Company
10/16/1912 Acquire By Merger Standard Trust Company
05/04/1929 Acquire By Merger Bank of Commerce in New York (4/1929-5/1929)
04/24/1959 Acquire By Merger J. P. Morgan & Co., Inc (1940-1959)
04/24/1959 Name Change To Morgan Guaranty Trust Company of New York
06/26/1959 Acquire By Merger Morgan & CIE, Incorporated
12/27/1968 Acquire By Merger Morgan Guaranty Safe Deposit Company
06/01/1996 Acquire By Merger J.P. Morgan Delaware
11/10/2001 Merge To State JPMorgan Chase Bank
11/13/2004 Convert Federal JPMorgan Chase Bank, National Association
http://www.scripophily.com/nybankhistorym.htm
 

First National Bank, No. 47 Westminster Street, was organized in 1864, with a capital of $600,000. Amasa Sprague, President; W. C. Townsend, Cashier. Present capital, $300,000, and present Cashier, Horatio A. Hunt. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html

Third National Bank, No. 12 Market Square, incorporated December, 1864. Capital, $200,000. O. A. Washburn, Jr., President; C. H. Child, Jr., Cashier. In 1866 the capital was increased to $500,000. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html 
 

1865

 

The inspiration behind the founding of the bank was Thomas Sutherland, a Scot who was then working for the Peninsular and Oriental Steam Navigation Company. He realised that there was considerable demand for local banking facilities in Hong Kong and on the China coast, and he helped to establish the bank which opened in Hong Kong in March 1865 and in Shanghai.... http://www.hsbc.com/about-hsbc/company-history/hsbc-history
 

Kidder was founded in Boston on April 1, 1865, by Henry Kidder, Francis Peabody and Oliver Peabody. When the firm first opened, it advertised "banking, brokerage and exchange business." - See more at: http://wallstreetlaw.typepad.com/sherman/kidder-peabody-collapse/#sthash.VQRfk0wa.dpuf

In 1865 the bank acquired a national charter as the Chemical National Bank of New York and began issuing government-backed national bank notes, the predecessor of paper money. The bank also became a depository of federal funds and the required reserves of other national banks. Chemical Bank's reputation for stability was enhanced by the higher liquidity and solvency requirements set by the federal government. Through the end of the nineteenth century the bank was a major correspondence banker and one of the largest and strongest banks in North America. http://www.library.hbs.edu/hc/lehman/chrono.html?company=chemical_new_york_corp

President Lincoln shot by an assassin, April 14; dies a few hours later.

1865: In a statement to Congress,President Abraham Lincoln states, "I have two great enemies, the Southern Army in front of me, and the financial institutions in the rear. Of the two, the one in my rear is my greatest foe."

Andrew Johnson inaugurated President, April 15.

Rockefeller organized the firm of Rockefeller and Andrews.  Very early John D. Rockefeller saw the advantage of large-scale operations and, together with H. M. Flagler, worked to secure more effective consolidation.

HSBC Holdings plc is a British multinational banking and financial services company headquartered in London, United Kingdom. It is one of the world's largest banks. It was founded in London in 1991 by the Hongkong and Shanghai Banking Corporation to act as a new group holding company. The origins of the bank lie in Hong Kong and Shanghai, where branches were first opened in 1865. The HSBC name is derived from the initials of the Hongkong and Shanghai Banking Corporation. As such, the company refers to both the United Kingdom and Hong Kong as its "home markets". https://youtu.be/6bBIgOlYNkY

Blackstone Canal National Bank, No. 6 What Cheer Building, was incorporated January, 1831, with a capital of $250,000. Reorganized as a national bank in 1865, and capital increased to $500,000. First officers were: Nicholas Brown, President; T. B. Fenner, Cashier. Present officers are: William Ames, President; Oren Westcott, Cashier. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html

City National Bank, No. 98 Weybosset Street, was incorporated in 1833, with a capital of $200,000. Re-organized as a national bank in 1865, with a capital of $500,000. First officers: Anthony Arnold, President; W. B. R. Watson, Cashier. Present officers: Amos C. Barstow, President; Edwin A. Smith, Cashier.
http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html

Commercial National Bank, No. 11 Market Square, was organized Feb. 11, 1833, with Richmond Bullock as President, and David Andrews, Cashier. Re-organized as a national bank in 1865, with a capital of $100,000. Present officers: Daniel Day, President; Henry G. Arnold, Cashier.
http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html 

Fourth National Bank, No. 65 Westminster Street, was organized May 30, 1853, as the Continental Bank, with a capital of $200,000. Re-organized in February, 1865, as the Fourth National Bank, with a capital of $500,000; surplus, $100,000. Present officers: Rhodes B. Chapman, President; Henry R. Chace, Cashier. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html 

Globe National Bank, No. 62 Westminster Street, was incorporated in 1831, with E. D. Pearce as President, and John R. Bartlett, Cashier. Re-organized in 1865, as a national bank, with a capital of $600,000. April, 1877, the capital was reduced to $300,000. Present officers are: Jesse Metcalf, President; T. Salisbury, Cashier. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html 

Lime Rock National Bank, No. 41 Westminster Street, was incorporated in 1823, at Lime Rock, in the town of Smithfield, with a capital of $40,000. Removed to Providence about the year 1849. Re-organized as a national bank in 1865, with a capital of $250,000. First officers: John Jenckes, President; S. E. Gardner, Jr., Cashier. Present officers: Thomas J. Hill, President; John W. Angell, Cashier. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html

Manufacturers' National Bank, No. 37 South Main Street, was incorporated in 1813, with a capital of $220,000. Re-organized as a national bank in 1865, with a capital of $500,000; surplus of $183,000. Its first officers were: O. Wilkinson, President; Joseph Wheelock, Cashier. Present officers: Thomas Harkness, President; Gilbert A. Phillips, Cashier. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html
 
 Merchants' National Bank, No. 14 Westminster Street, was incorporated February, 1818. Re-organized as a national bank in 1865. Capital, $100,000. Officers: R. C. Taft, President; J. W. Vernon, Cashier. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html

National Bank of North America, No. 48 Weybosset Street, was incorporated in October, 1823, with Cyrus Butler, President; John Taylor, Cashier. Re-organized as a national bank in May, 1865. Capital, $1,000,000. Present officers: Seth Padeford, President; C. E. Jackson, Cashier. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html 
 
National Eagle Bank, No. 27 Market Square, was incorporated in February, 1818, with Wheeler Martin as Present, and John Lippitt, Cashier. Capital, $500,000. Re-organized as a national bank in 1865. Present officers: Joseph Sweet, President; Charles F. Sampson, Cashier. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html 

National Exchange Bank, No. 55 Westminster Street, was incorporated in 1801, with Amos Troop, President; and Stephen Jackson, Cashier. Capital, $200,000. Re-organized as a national bank in July, 1865, with a capital of $500,000. Present officers are: Henry L. Kendall, President; C. H. Sheldon, Cashier. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html

Old National Bank, No. 21 Weybosset Street, was incorporated in 1833, with a capital of $120,000. Re-organized as a national bank in June, 1865, with a capital of $500,000. The first officers were: Amasa Martin, President; Joseph Howard, Cashier. Present officers: George W. Hallett, President; Francis A. Cranston, Cashier. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html

 Phenix National Bank, No. 7 What Cheer Building, was incorporated in 1835, with a capital of $200,000. Re-organized as a national bank in 1865, and capital increased to $450,000. First officers were: James F. Simmons, President; Jesse N. Olney, Cashier. Present officers: Edward Pearce, President; George E. Martin, Cashier. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html 

Providence National Bank, No. 70 South Main Street, was organized in 1791, with John Brown as President, and Olney Winsor, Cashier. Re-organized as a national bank in 1865. Capital, $500,000. Present officers, William Goddard, President; Benjamin W. Ham, Cashier. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html 

Rhode Island National Bank, No. 70 Weybosset Street, incorporated June, 1831, as the Arcade Bank, with Charles Dyer, President, and William C. Snow, Cashier. Capital, $200,000. Re-organized in 1865 as a national bank, with a capital of $600,000. Present officers: Henry Lippett, President; S. H. Tabor, Cashier. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html

 The National Bank of Commerce, No. 4 Market Square, was incorporated in 1851, with Amos D. Smith, President; and Joseph H. Bowen, Cashier. Capital, $400,000. Re-organized as a national bank in 1865. Capital, $1,709,200. Present officers: Edward A. Greene, President; John Foster, Cashier. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html

 Traders' National Bank, No. 4 Westminster Street, was organized in 1863, with Erastus F. Knowlton, President; Henry S. Angell, Cashier. Capital, $200,000. Re-organized as a national bank in 1865. Present officers: Henry A. Webb, President; Edwin Knight, Cashier. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html
 

The Roger Williams National Bank, No. 27 Market Square, organized Oct. 26, 1803, with a capital of $150,000. Seth Wheaton, President; Nathan Waterman, Cashier. Re-organized in 1865 as a national bank, with a capital of $500,000. Present officers: Cyrus Harris, President; W. H. Waterman, Cashier. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html

Weybosset National Bank, No. 55 Westminster Street, incorporated in June, 1831, with William Rhodes, President; Luke Greene, Cashier. Capital, $200,000. Re-organized as a national bank in June, 1865. Present officers are: George A. Seagrave, President; O. A. Jillson, Cashier. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html
 
 

1866

1866: "Grand consolidation" unites Wells Fargo, Holladay, and Overland Mail stage lines under the Wells Fargo name.

Third National Bank, No. 12 Market Square, incorporated December, 1864. Capital, $200,000. O. A. Washburn, Jr., President; C. H. Child, Jr., Cashier. In 1866 the capital was increased to $500,000. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html 

Union Savings Bank, No. 10 Westminster Street. Organized in 1866, with James Y. Smith, President;
James B. Haskins, Treasurer; J. C. Johnson, Secretary. Its present officers are: Henry J. Russell,
President; J. C. Johnson, Treasurer and Secretary.
http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html
 

1867

Kuhn, Loeb & Co.Investment bank founded 1867 by Abraham Kuhn and Solomon Loeb. it merged in 1977 with Lehman Brothers, making Lehman Brothers, Kuhn, Loeb Inc. This firm was then acquired in 1984 by Shearson/American Express, ending with the utterly awkward name, Shearson Lehman/American Express.  http://www.nndb.com/company/062/000124687/

Rockefeller, Andrews & Flagler was a business concern formed in 1867 in Cleveland, Ohio which was a predecessor of the Standard Oil Company. The principals and namesakes were John D. Rockefeller, William Rockefeller, Samuel Andrews, and Henry M. Flagler. Flagler’s wife’s uncle, Stephen V. Harkness made substantial investments, but was a silent partner and did not take an active role in running the business but he was actually the second largest stockholder next to JD Rockefeller. http://www.oilfieldwiki.com/wiki/Rockefeller,_Andrews_%26_Flagler 

Lehman Brothers was designated to be the Alabama government's fiscal agent to help sell the state's bonds in 1867.

1868

Check for the Purchase of Alaska
 

Cancelled check in the amount of $7.2 million, for the purchase of Alaska, issued August 1, 1868; Records of the Accounting Officers of the Department of the Treasury; Record Group 217; National Archives.

With this check, the United States purchased Alaska from Russia for $7.2 million. For less than 2 cents an acre, the United States acquired nearly 600,000 square miles http://www.archives.gov/historical-docs/document.html?doc=10&title.raw=Check%20for%20the%20Purchase%20of%20Alaska

Bought from Russia by US Government in 1867 for 2 cents per acre ($7.3 million). The US military are a major landowner, with around 2 million acres, and are responsible for about 18,000 jobs in Alaska. The main industry is oil, which produces state revenues of over $2 billion pa, from about 15.7 million acres leased to American and British oil compaines. The US Government estimates that there are 15 million acres of agricultural land in Alaska, of which under 1 million acres are currently cultivated. There are five main groups of native people in Alaska, which takes its name from the Aleut word for ‘great land’: Alyeska. Many of the native peoples have Russian surnames from the period of Russian colonisation (c. 1690-1867). The main groups of native people are: the North coast indians, the Inupiaqs, the Yupiks, the Aleuts and the Athabascan Indians. http://www.whoownstheworld.com/about-the-book/alaska-usa/

NOTE: 

[Alaska's] main oil companies with the 15 million acres of leases are: Chevron, BP Exploration, Exxonmobil, Marathon, Phillips, Shell, totalFina and Unocal. http://www.whoownstheworld.com/about-the-book/alaska-usa/

Mercantile Trust Company (1873-1911)
1868 Established Mercantile Loan and Warehouse Company
1873 Name Change To Mercantile Trust Company (1873-1911)
08/10/1911 Merge To State Bankers Trust Company
http://www.dfs.ny.gov/about/histm.txt 
 

1869

The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.                                       http://www.goldmansachs.com/who-we-are/at-a-glance/index.html

T. Mellon & Sons' Bank is established in 1869. When patriarch Thomas retires in 1882, his sons Andrew and Richard are there to take over the family business. In 1902, the name is changed to Mellon National Bank and joins the national banking system.
https://www.bnymellon.com/us/en/timeline.jsp

Institution History for BNY MELLON, NATIONAL ASSOCIATION (934329)
7 institution history record(s) found. < Previous Page Next >
Event Date Historical Event
1869-01-01 MELLON NATIONAL BANK AND TRUST COMPANY located at N. MAIN & PITTS ST, PITTSBURGH, PA was established as a National Bank.
1972-11-28 MELLON NATIONAL BANK AND TRUST COMPANY was renamed to MELLON BANK, N.A..
1982-09-21 MELLON BANK, N.A. moved to N. MAIN & PITTS ST GREENSBURG, PA.
1985-01-07 MELLON BANK, N.A. moved to NORTH MAIN & PITTSBURGH ST. GREENSBURG, PA.
1996-06-01 MELLON BANK, N.A. moved to ONE MELLON BANK CENTER PITTSBURGH, PA.
2008-07-01 MELLON BANK, N.A. sold assets to BANK OF NEW YORK MELLON, THE.
2008-07-01 MELLON BANK, N.A. was renamed to BNY MELLON, NATIONAL ASSOCIATION and moved to 500 GRANT STREET PITTSBURGH, PA.
https://www.ffiec.gov/nicpubweb/nicweb/InstitutionHistory.aspx?parID_RSSD=934329&parDT_END=99991231

 

Abingdon Square Savings Bank
1869 Established Abingdon Square Savings Bank
08/01/1876 Failed
http://www.dfs.ny.gov/about/hista.txt

The Rhode Island Safe Deposit Co., No. 47 Westminster Street, was chartered in 1869, with A. B. Dike,
President; Joshua Wilbour, Secretary. Present officers: James S. Phetteplace, President; H. A. Hunt,
Secretary; and W. A. Mitchell, Superintendent.
http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html
 

1870

1870 – First Representative Office
The first Credit Suisse foreign representative office is established in New York.   https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html


Standard Oil 

This was a predominant, horizontally integrated oil producing, transporting, refining, and marketing company. Established in 1870, it operated as a major company trust and was one of the world's first and largest multinational corporations until it was dissolved by the United States Supreme Court in 1911; John D. Rockefeller 
 

---In 1870 Rockefeller organized the Standard Oil Company of Ohio, with a capital stock of $1,000,000. The company issued 10,000 shares,  at $100 each, which were held by Rockefeller, his brother William, and other associates.

To secure economy of operation and avoid wasteful competition, Rockefeller conceived a plan which he called "co-operation and conservation." He believed that under one leadership many industries could be combined, and the less economical ones eliminated. John D. Rockefeller thought that oil should be kept off the market at times of oversupply,  to stabilize prices.

Jackson Institution for Savings, No. 29 Weybosset Street, was incorporated in 1870, as the National
Institute for Savings, but changed in 1873. Present officers are: Charles A. Boyd, President; Theo. B.
Talbot, Secretary and Treasurer. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html

 In 1870, Lehman Brothers spearheaded the formation of the New York Cotton Exchange, the first commodities futures trading venture. Mayer Lehman was appointed to its first board of directors. As Lehman Brothers' commodities sales and trading business grew to include other goods, the company also helped to establish the Coffee Exchange and the Petroleum Exchange.
 

1871

UNITED STATES is a Corporation - There are Two Constitutions - Sovereignty

The increasing political control of wealth was pointed out as early as 1871 by Henry Ward Beecher when he stated that "We are in more danger from overgrown pecuniary interests [that is, from organized money] than we ever were from slavery." He also said that the battle of the future " will be one of gold and silver." [The Development of America, by Fremont P.Wirth, Professor of History, George Peabody College for Teachers, Nashville, Tennessee, copyright 1936,1937,1938,1939,1940,1941,1942,1943,1944,1945,1946,1947,1948 ,page 428]

J. Pierpont Morgan and Philadelphia banker Anthony Drexel form a private merchant banking partnership in New York called Drexel, Morgan & Co. This is the earliest partnership that evolves into J.P. Morgan.  https://www.jpmorgan.com/pages/company-history

JPMorgan Chase’s other namesake predecessor, J.P.Morgan & Co., was
founded in New York in 1871 as Drexel, Morgan & Co. by J. Pierpont
Morgan and Philadelphia banker Anthony Drexel. NOTE: John R. Fell, future banker is Anthony Drexel's grandson.
https://www.jpmorganchase.com/corporate/About-JPMC/document/shorthistory.pdf

 In 1871, in partnership with Anthony Drexel, he founded Drexel, Morgan & Co.      https://www.jpmorgan.com/country/US/en/jpmorgan/about/history/month/apr 

Citizens' Savings Bank, No. 344 High Street, incorporated in 1871, with Henry Grant, President; C. H.
Bassett, Treasurer. Present officers are: John A. Cranston, President; E. Allen, Secretary and
Treasurer. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html
 

1871

American Exchange Irving Trust Co.
1871 Established Mutual Benefit Life Policy Loan & Trust Co NY
02/01/1884 Name Change To Commercial Trust Company (1884-1900)
06/01/1900 Name Change To New York and London Trust Company
10/28/1905 Name Change To Columbia Trust Company
06/05/1912 Acquire By Merger Knickerbocker Trust Company
06/05/1912 Name Change To Columbia-Knickerbocker Trust Co.
08/01/1914 Name Change To Columbia Trust Company
02/07/1923 Acquire By Merger Irving Bank of New York
02/07/1923 Name Change To Irving Bank-Columbia Trust Co.
09/17/1926 Acquire By Merger National Butchers & Drovers Bank of New York City
09/17/1926 Name Change To Irving Bank and Trust Company
12/11/1926 Acquire By Merger American Exchange-Pacific Bank
12/11/1926 Name Change To American Exchange Irving Trust Company
02/01/1929 Name Change To Irving Trust Company
11/13/1953 Acquire By Merger Irving Safe Deposit Company
01/15/1981 Acquire By Merger Irving Bank Canada, Ltd.
10/06/1989 Acquire By Merger Bank of New York, The (9/1922-10/1989)
10/06/1989 Name Change To Bank of New York, The
07/19/1991 Acquire By Merger Bank of New York, F.S.B., The
06/12/1992 Purchase Branches Riverhead Savings Bank
12/11/1992 Purchase Branches Barclays Bank of New York, NA
12/01/1996 Acquire By Merger Putnam Trust Company, The
12/01/1996 Purchase Branches Bank of New York (NJ), The
06/23/2004 Acquire By Merger J.P. Morgan Trust Company of New York
07/01/2008 Acquire By Merger Dreyfus Trust Company, The
07/01/2008 Acquire By Merger Mellon Securities Trust Company
07/01/2008 Name Change To Bank of New York Mellon, The  http://www.dfs.ny.gov/about/histba.txt
 

1872

 In 1872 Deutsche Bank sets up its business in the United States of America

Third National Bank and Trust Company of Scranton  Established: April 15, 1872

1872: Deutsche Bank is represented in New York with a limited partner's holding of $ 500,000 in Knoblauch & Lichtenstein. https://www.db.com/usa/content/en/Chronicles.html

-In 1872, Alpheus Branch and Thomas Jefferson Hadley, private bankers, created Branch and Hadley.  http://bbt.mediaroom.com/index.php?s=22728

BB&T dates back to 1872, when Alpheus Branch and Thomas Jefferson Hadley founded the Branch and Hadley merchant bank in their hometown of Wilson, North Carolina. After many transactions, mostly with local farmers, Branch bought out Hadley's shares in 1887 and renamed the company to Branch and Company, Bankers.

1873

1873: The Scottish American Investment Trust, a Robert Fleming & Co. predecessor firm, is formed. https://www.jpmorgan.com/pages/jpmorgan/emea/uk/about/history

Salmon Chase died at the the age of 65 in 1873 and the Chase Manhattan Bank (now a part of JPMorgan Chase) was named in his honor. http://www.philstockworld.com/tag/10000-bill/  

Jackson Institution for Savings, No. 29 Weybosset Street, was incorporated in 1870, as the National
Institute for Savings, but changed in 1873. Present officers are: Charles A. Boyd, President; Theo. B.
Talbot, Secretary and Treasurer. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html
 
Salmon Chase died at the the age of 65 in 1873 and the Chase Manhattan Bank (now a part of JPMorgan Chase) was named in his honor. http://www.philstockworld.com/tag/10000-bill/  

1874

1874-03-09 Institution established: Original name:National Bank of Boyertown
1972-07-01 Acquired The First National Bank of Oley (7670) in OLEY, PA
1992-01-31 Acquired Sellersville Savings and Loan Association (30116) in PERKASIE, PA
1993-08-01 Changed name to National Penn Bank
1993-12-02 Acquired Chestnut Hill National Bank (26239) in PHILADELPHIA, PA
1999-01-04 Acquired The Elverson National Bank (7490) in ELVERSON, PA
2001-01-04 Acquired Bernville Bank, National Association (7403) in BERNVILLE, PA
2003-02-25 Acquired FirstService Bank (34042) in DOYLESTOWN, PA
2003-12-15 Acquired HomeTowne Heritage Bank (35104) in INTERCOURSE, PA
2004-06-11 Acquired The People's Bank of Oxford (436) in OXFORD, PA
2006-03-27 Acquired Nittany Bank (34880) in STATE COLLEGE, PA
2008-02-02 Acquired Keystone Nazareth Bank & Trust Company (28166) in BETHLEHEM, PA
2014-01-10 Moved bank headquarters from BOYERTOWN, PA to ALLENTOWN, PA
2014-10-25 Acquired 3rd Fed Bank (29132) in NEWTOWN, PA
2015-09-29 Acquired National Penn Wealth Management, N.A. (33915) in WYOMISSING, PA
2016-04-01 Merged into and subsequently operated as part of Branch Banking and Trust Company (9846) in WINSTON SALEM, NC  http://www.usbanklocations.com/national-penn-bank-7414.shtml

1875

Roslyn Savings Bank- Established in 1875, The Roslyn Savings Bank was the first financial institution to be headquartered in  Nassau County, New York. https://www.mynycb.com/Community/Pages/Foundations.aspx
 

 1876

Bank of Batavia
1876 Established Bank of Batavia
1902 Convert Federal Marine National Bank of Buffalo, The
01/15/1936 Merge To State Marine Trust Company of Buffalo
04/28/1951 Name Change To Marine Trust Company of Western New York
09/01/1965 Name Change To Marine Midland Trust Company of Western New York
01/01/1970 Name Change To Marine Midland Bank - Western
01/01/1976 Merge To State Marine Midland Bank (12/75-2/80)
02/01/1980 Convert Federal Marine Midland Bank, N.A.
12/31/1993 Convert State Marine Midland Bank
03/29/1999 Name Change To HSBC Bank USA
12/31/1999 Merge To State Republic Bank of New York
12/31/1999 Name Change To HSBC Bank USA
06/30/2004 Convert Federal HSBC Bank USA
http://www.dfs.ny.gov/about/histba.txt

1876 – Paradeplatz
After a construction period of three years, SKA moves into the new building on Paradeplatz, which was designed by the famous architect Jakob Friedrich Wanner, on September 25, 1876.   https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html

1877

Second National Bank, No. 56 Westminster Street, incorporated with a capital of $500,000. First officers were: William Sprague, President; F. Salisbury, Cashier. May 1, 1877, the capital was reduced to $300,000. Present officers: James Kimball, President; William W. Paine, Cashier. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html 

Chase National Bank was formed in 1877 by John Thompson. The Chase National Bank acquired a number of smaller banks in the 1920s, through its Chase Securities Corporation. In 1926, for instance, it acquired Mechanics and Metals National Bank. In 1955, Chase National Bank and The Manhattan Company merged to create Chase Manhattan Bank. http://finance.mapsofworld.com/banks/chase-bank.html

With the retirement of Samuel C. Thompson in 1877, George F. Baker was unanimously elected President. That year the bank had a net profit of more than $750,000. Baker's role as President of the First National Bank of New York kept him in close contact with many politicians in Washington D.C. He was frequently meeting with the Secretary of the Treasury and other high ranking finance officials about government bonds and deposits with the First National Bank of New York. At one point during 1879, government deposits totaled more than $200 million dollars.http://oasis.lib.harvard.ed
 

Globe National Bank, No. 62 Westminster Street, was incorporated in 1831, with E. D. Pearce as President, and John R. Bartlett, Cashier. Re-organized in 1865, as a national bank, with a capital of $600,000. April, 1877, the capital was reduced to $300,000. Present officers are: Jesse Metcalf, President; T. Salisbury, Cashier. http://www.rootsweb.ancestry.com/~rigenweb/Providence/article274.html 

Bank of Hawaii Corporation is a regional financial services company serving businesses, consumers and governments in Hawaii, American Samoa and the West Pacific. The Company's principal subsidiary, Bank of Hawaii, was founded in 1897 and is the largest independent financial institution in Hawaii. 

1879

With the retirement of Samuel C. Thompson in 1877, George F. Baker was unanimously elected President. That year the bank had a net profit of more than $750,000. Baker's role as President of the First National Bank of New York kept him in close contact with many politicians in Washington D.C. He was frequently meeting with the Secretary of the Treasury and other high ranking finance officials about government bonds and deposits with the First National Bank of New York. At one point during 1879, government deposits totaled more than $200 million dollars.http://oasis.lib.harvard.ed

 

1880

U.S. Trust serves as Corporate Trustee for the Panama Canal.  http://www.ustrust.com/ust/pages/about-us.aspx

NOTE: In 1880, Alexandre Weil opened an office on Wall Street and became the first transporter of gold between Europe and the United States and the biggest trader of commercial paper within the United States. The bank quickly won its place on Wall Street.

1881

Nelson Aldrich of Rhode Island rose from the position of grocery clerk to become one of the most powerful senators of his era. Elected to the Senate in 1881, he chaired the Committee on Finance from 1898 to 1911, becoming an influential expert on the economy.

He sponsored the Aldrich-Vreeland Act which established the National Monetary Commission. His Aldrich Plan, providing for flexible cash reserves, was the forerunner of the Federal Reserve System.

Although Aldrich rarely spoke on the Senate floor, preferring the more casual atmosphere of the committee room, by the turn of the 20th century he became the leading figure in the Republican caucus and was one of the Senate Four, a powerful group of Republican senators who dominated the institution for a decade.

President Theodore Roosevelt referred to him as the “King Pin” of the Republican Party. Aldrich “did not bother with oratorical display,” wrote one historian, “but relied upon his charm, his commanding appearance, his superior mind, his ability to speak forthrightly, and his exceptional memory” to influence Senate action. Patriarch to a political family, Aldrich’s grandson, Nelson Rockefeller, became vice president and his great-grandson, Jay Rockefeller, became a U.S. senator. 
http://www.senate.gov/artandhistory/history/common/generic/Featured_Bio_Aldrich.htm

1881: President James A. Garfield (The 20th President of the United States who lasted only 100 Days) states two weeks before he is assassinated, 

“Whoever controls the volume of money in our country is absolute master of all industry and commerce…and when you realize that the entire system is very easily controlled, one way or another, by a few powerful men at the top, you will not have to be told how periods of inflation and depression originate.”

1882

 Percy Pyne - 1882-1891 president of City Bank of New York (National City Bank after 1865 - telegraph lines referred to it as "Citibank")

When patriarch  [Thomas] Mellon retires in 1882, his sons Andrew and Richard are there to take over the family business [T. Mellon& Sons Bank]. https://www.bnymellon.com/us/en/timeline.jsp

1883

  Second National Bank Established: July 03, 1883

 1883: Deutsche Bank acquires a substantial holding in Northern Pacific Railroad Company. 
    https://www.db.com/usa/content/en/Chronicles.html

1883- First American National Bank   FDIC Certificate #: 4956
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: AmSouth Bank (#26800)
Federal Reserve ID: 742533
Date Established: September 01, 1883
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 380 (Interstate: No)
OTS Docket #: 11850
FDIC's unique #: 3299
Numeric code: 3
Regulator: OCC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
Oakar Institutions: Yes
State Chartered: No
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: December 31, 1999
Last Structure Change Process Date: Febuary 22, 2000
Last Data Update: Febuary 22, 2000
Data Source Date: April 05, 2012
Location
Address: 326 Union Street, Nashville, TN 37237
County: Davidson
Quarterly Banking Profile Region: Dallas
FDIC Geographic Region: Dallas
FDIC Supervisory Region: Atlanta
FDIC Field Office: Nashville
Office of the Comptroller the Currency (OCC) District: Southwest
Office of Thrift Supervision Region: Southeast
Metropolitan Statistical Area (MSA): Nashville, TN (#5360)
Combined Statistical Area (CSA): Nashville-Davidson-Murfreesboro-Columbia, TN (#400)
Core Based Statistical Area (CBSA): Nashville-Davidson-Murfreesboro-Franklin, TN (#34980)
CBSA Metro Statistical Area: Nashville-Davidson-Murfreesboro-Franklin, TN (#34980)
Financial Summary
Total assets: $21,936.3 mil

Read more: http://www.bankencyclopedia.com/First-American-National-Bank-4956-Nashville-Tennessee.html#ixzz4I68ySVcc

http://www.bankencyclopedia.com/First-American-National-Bank-4956-Nashville-Tennessee.html

1884

The Chemical New York Corporation began as the New York Chemical Manufacturing Company. The company was established in 1823 by Baldhead P. Melick, Mark Spenser, and Geradus Post. These founders originally wanted to form a bank; however, due to laws governing banks at that time, it was easier to start a company for other purposes and then add banking activities to the company's chartered activities. The founders followed precisely that formula and in 1824 established Chemical Bank as a division of New York Chemical Manufacturing Company.

The bank thrived through the following decades. In 1884, when New York Chemical Manufacturing Company's charter expired, the chemical company was liquidated and the company was reincorporated as a bank only. In 1853 the bank became a founding member of the New York Clearing House, an association of banks formed to help members clear banking transactions. 
http://www.library.hbs.edu/hc/lehman/chrono.html?company=chemical_new_york_corp

1885

Jekyll Island Club

 Jekyll Island Club  was incorporated on December 9, 1885. Members include  such famous names as Henry Hyde, Marshall Field, John Pierpont Morgan, Joseph Pulitzer,William K. Vanderbilt, and Nelson W. Aldrich .Later it will include  John D. Rockefeller (Standard Oil).

Commercial National Bank of New York (1885-1890)
1885 Established Commercial National Bank of New York (1885-1890)
1890 Name Change To Southern National Bank of New York, The
1896 Merge To Federal Market and Fulton National Bank of New York
03/01/1918 Merge To State Irving Trust Company (11/1917-3/1920)
03/01/1920 Convert Federal New York National Irving Bank
04/01/1920 Merge To Federal Irving National Bank
01/01/1923 Convert State
01/01/1923 Name Change To Irving Bank of New York
02/07/1923 Merge To State Columbia Trust Company
02/07/1923 Name Change To Irving Bank-Columbia Trust Co.
09/17/1926 Name Change To Irving Bank and Trust Company
12/11/1926 Name Change To American Exchange Irving Trust Co.
02/01/1929 Name Change To Irving Trust Company
10/06/1989 Name Change To Bank of New York, The     http://www.dfs.ny.gov/about/histc.txt
 

1886

The Jekyll Island Club Hotel was originally built in 1886 as a hunting retreat for America's wealthy elite including J.P. Morgan, William Rockefeller, Joseph Pulitzer, as well as the Vanderbilts, Goulds and Astors.

Richmond County Savings Bank- A member of the NYCB Family of Banks since July 2001, Richmond County Savings Bank has been serving those who live and work on Staten Island since October 30, 1886. The Bank made its first home mortgage loan on March 4, 1887. https://www.mynycb.com/Community/Pages/Foundations.aspx


About Us

First Trust and Savings Bank, with it's origin dating back to 1886, has been very blessed to be part of a strong agricultural area that now includes facilities in the towns of Wheatland, Dixon, Lost Nation, Calamus, Grand Mound, and Donahue, Iowa.

First Trust is a locally owned community bank, with many long term experienced employees to serve you. We strive to provide you with the products you desire, and the service you deserve. Our hope is that whatever your business is with First Trust, you always feel that you have dealt with a staff that takes your financial needs seriously, and treated you as a friend.
History
First Trust and Savings was founded in Wheatland, IA in 1886 by Edward Guenther along with his brother, Henry Guenther, and his father, John Guenther. The Guenthers recognized the agricultural and industrial needs of the community and developed First Trust and Savings Bank as one of the strongest financial institutions in the agricultural area between Clinton, Iowa and Cedar Rapids, Iowa.

When the Guenthers originally founded the bank, they named it John Guenther and Sons, Private Bankers after themselves, the founders. In 1910 the bank became incorporated and was named German Trust and Savings Bank, and finally, in 1918 First Trust and Savings Bank assumed it's present name.

First Trust and Savings grew rapidly in the late 1880's which led to the development of a branch bank in Lost Nation, Iowa. In the early 1960's, First Trust expanded with the purchase of Dixon Bank and Trust in Dixon, Iowa. First Trust continues to grow today with the current addition of two more branches in 1999; one in Calamus, Iowa and one in Grand Mound, Iowa. Most recently in 2007, a branch was added in Donahue, Iowa.
https://www.firsttrustsavings.com/aboutus.html

NOTE: Washington Mutual, Inc. [WaMu] was a savings bank holding company and the former owner of Washington Mutual Bank, which  was the United States largest savings and loan association until its collapse in 2008. It ceased operations on Sept 26, 2008.    Successors: JPMorgan Chase; WMI Holdings Corp  Parent:: Washington Mutual Inc.; Headquarters:  Seattle, Washington...

Washington Mutual was founded on September 25. 1886.

1887

The Bank of Charleston become a Federal Depository. 
http://www.nps.gov/nr/travel/charleston/sbc.htm

1887: Jarvis Conklin Mortgage & Trust Company, a predecessor firm, opens in London  https://www.jpmorgan.com/pages/jpmorgan/emea/uk/about/history

 In 1887, Branch bought Hadley’s interest in the bank for $81,000 and changed its name to Branch and Company, Bankers.   http://bbt.mediaroom.com/index.php?s=22728

BB&T dates back to 1872, when Alpheus Branch and Thomas Jefferson Hadley founded the Branch and Hadley merchant bank in their hometown of Wilson, North Carolina. After many transactions, mostly with local farmers, Branch bought out Hadley's shares in 1887 and renamed the company to Branch and Company, Bankers.

Atlantic Trust Company
1887 Established Atlantic Trust Company
1900 Acquire By Merger Bankers' Trust Company of New York (1899)
1903 Merge To State Metropolitan Trust Company of the City of NY
1925 Convert Federal Metropolitan Natl Bnk & Trust Co of City of NY
03/01/1925 Merge To Federal Chatham & Phenix National Bank of the City of NY
03/01/1925 Bank To Trust Co. Chatham Phenix National Bank & Trust Company
02/09/1932 Merge To State Manufacturers Trust Company
09/08/1961 Name Change To Manufacturers Hanover Trust Company
06/19/1992 Merge To State Chemical Bank
07/14/1996 Name Change To Chase Manhattan Bank, The
11/13/2004 Convert Federal JPMorgan Chase Bank, National Association
http://www.dfs.ny.gov/about/hista.txt

Institution History for AMERICAN BANK, NATIONAL ASSOCIATION (345345)
5 institution history record(s) found. < Previous Page Next >
Event Date Historical Event
1887-10-10 FIRST TRUST & SAVINGS BANK located at REMSEN, IA was established as a Non-member Bank.
1991-01-01 FIRST TRUST & SAVINGS BANK was renamed to FIRST TRUST & SAVINGS BANK, NATIONAL ASSOCIATION and moved to 174 S. WASHINGTON ST. REMSEN, IA and changed from Non-member Bank to National Bank.
1995-12-01 FIRST TRUST & SAVINGS BANK, NATIONAL ASSOCIATION was renamed to AMERICAN BANK, N.A. and moved to 234 5TH AVENUE SOUTHWEST LEMARS, IA.
1995-12-12 AMERICAN BANK, N.A. moved to 234 5TH AVENUE SW LE MARS, IA.
1998-01-07 AMERICAN BANK, N.A. was renamed to AMERICAN BANK, NATIONAL ASSOCIATION.

https://www.ffiec.gov/nicpubweb/nicweb/InstitutionHistory.aspx?parID_RSSD=345345&parDT_END=99991231
 

1888

In 1888 the Republican party declared itself in opposition to "combinations of capital,  organized as trusts or otherwise, " and the Democratic party platform said, " the interests of the people are betrayed when trusts and combinations are permitted to exist." [The Development of America,+Wirth, page 434]

Astoria FS & LA
12/04/1888 NYS Chartered Central Permanent Building & Loan Association
1936 Name Change To Astoria Savings & Loan Association
07/08/1937 Convert Federal Astoria Federal Savings & Loan Association
01/31/1979 Acquire By Merger Citizens Savings & Loan Association of New York
09/30/1997 Acquire By Merger Greater New York Savings Bank, The  http://www.dfs.ny.gov/about/histba.txt  

Astoria Savings & Loan Association
12/04/1888 NYS Chartered Central Permanent Building & Loan Association
1936 Name Change To Astoria Savings & Loan Association
07/08/1937 Convert Federal Astoria Federal Savings & Loan Association  http://www.dfs.ny.gov/about/histba.txt
 

1889

Washington Mutual was incorporated as the Washington National Building Loan and Investment Association on September 25, 1889, after the Great Seattle Fire destroyed 120 acres (49 ha) of the central business district of Seattle. The newly formed company made its first home mortgage loan on the West Coast on February 10, 1890. It changed its name to Washington Savings and Loan Association on June 25, 1908. By September 12, 1917 it was operating under the name Washington Mutual Savings Bank. The company purchased its first company, the financially distressed Continental Mutual Savings Bank, on July 25, 1930.

WaMu, Inc.'s banking subsidiaries were closed by the OTS, placed into the receivership of the FDIC, and, in September 2008, their assets were sold to JPMorgan Chase, which now operates the former banking assets as a part of Chase Bank.
The holding company Washington Mutual, Inc. (the former bank owner) subsequently filed for Chapter 11 bankruptcy.

Please note that any deposits that have not been claimed within 18 months of the failure of Washington Mutual Bank FSB was sent to the FDIC by JP Morgan Chase Bank as acquirer of Washington Mutual Bank, FSB on April 15th, 2010. The unclaimed funds will be sent to the appropriate states according to Federal Law (12 U.S.C., 1822(e)). https://www.fdic.gov/bank/individual/failed/wamu.html

---------

President Harrison, in his message of December, 1889, pointed out that trusts in the nature of conspiracies should be made a subject of study by Congress; and on July 2, 1890, Congress, under the authority given it by the interstate commerce clause of the Constitution, enacted the Sherman Antitrust Law.  By provisions of this law combinations and conspiracies" in restraint of trade or commerce among the several States, or with foreign nations," are declared illegal and punishable by fine or imprisonment. [The Development of America ,Wirth, page 434]

In 1889, the state of New Jersey passed a law legalizing holding companies by permitting them to incorporate in that state.  Many of the companies then changed their form and moved their home offices to New Jersey. [The Development of America ,Wirth, page 434]

---------

 In 1889, Branch, his father-in-law Gen. Barnes, Hadley, J.F. Bruton, R.L. Thompson and Walter Brodie secured a charter from the North Carolina Legislature to operate the Wilson Banking and Trust Company (later amended to the State Bank of Wilson and later to The Branch Banking Company). However, the charter was not implemented until 1900.   http://bbt.mediaroom.com/index.php?s=22728

Bank of Northern Brookhaven, The
1889 Established Bank of Port Jefferson, The
04/30/1948 Acquire By Merger First National Bank of Port Jefferson
04/30/1948 Name Change To Bank of Northern Brookhaven, The
11/01/1955 Merge To Federal First Suffolk National Bank of Huntington
11/01/1955 Name Change To Security National Bank of Huntington
05/01/1958 Name Change To Security National Bank of Long Island
11/01/1968 Name Change To Security National Bank
01/19/1975 Merge To State Chemical Bank
07/14/1996 Name Change To Chase Manhattan Bank, The
11/13/2004 Convert Federal JPMorgan Chase Bank, National Association

http://www.dfs.ny.gov/about/histba.txt

1890

Sherman Antitrust Act 1890

The Morgan financial octopus wrapped its tentacles quickly around the globe. Morgan Grenfell operated in London. Morgan et Ce ruled Paris. The Rothschild’s Lambert cousins set up Drexel & Company in Philadelphia.

The House of Morgan catered to the Astors, DuPonts, Guggenheims, Vanderbilts and Rockefellers. It financed the launch of AT&T, General Motors, General Electric and DuPont. Like the London-based Rothschild and Barings banks, Morgan became part of the power structure in many countries.

By 1890 the House of Morgan was lending to Egypt’s central bank, financing Russian railroads, floating Brazilian provincial government bonds and funding Argentine public works projects. A recession in 1893 enhanced Morgan’s power. That year Morgan saved the US government from a bank panic, forming a syndicate to prop up government reserves with a shipment of $62 million worth of Rothschild gold. [7] http://www.bibliotecapleyades.net/sociopolitica/world_order/WorldCh01-1.htm

1890 – Leading Position
From the end of the 19th century, SKA plays a leading role in the Swiss underwriting and syndication business. It has the opportunity more often than the competition to be the key player in underwriting syndicates.   https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html

1890: J. Pierpont Morgan becomes senior partner of J.S. Morgan & Co. in London. https://www.jpmorgan.com/pages/jpmorgan/emea/uk/about/history

In 1900, Branch and Company, Bankers, was sold to Branch Banking and Company, holder of the state charter. http://bbt.mediaroom.com/index.php?s=22728

Bank of Attica
1890 Established Bank of Attica
11/01/1946 Merge To State Marine Trust Company of Buffalo
04/28/1951 Name Change To Marine Trust Company of Western New York
09/01/1965 Name Change To Marine Midland Trust Company of Western New York
01/01/1970 Name Change To Marine Midland Bank - Western
01/01/1976 Merge To State Marine Midland Bank (12/75-2/80)
02/01/1980 Convert Federal Marine Midland Bank, N.A.
12/31/1993 Convert State Marine Midland Bank
03/29/1999 Name Change To HSBC Bank USA
12/31/1999 Merge To State Republic Bank of New York
12/31/1999 Name Change To HSBC Bank USA
06/30/2004 Convert Federal HSBC Bank USA 
http://www.dfs.ny.gov/about/histba.txt

Continental Trust Company of the City of New Yor
1890 Established Continental Trust Company of the City of New York
1903 Merge To State New York Security and Trust Company, The
03/01/1904 Name Change To New York Trust Company, The
09/01/1959 Merge To State Chemical Corn Exchange Bank
09/01/1959 Name Change To Chemical Bank New York Trust Company
02/17/1969 Name Change To Chemical Bank
07/14/1996 Name Change To Chase Manhattan Bank, The
11/13/2004 Convert Federal JPMorgan Chase Bank, National Association
http://www.dfs.ny.gov/about/histc.txt

Citizens Bank of Arcade
1890 Established Citizens Bank of Arcade
11/20/1934 Acquire By Merger First National Bank of Arcade
12/01/1954 Acquire By Merger Silver Springs National Bank, The
08/01/1959 Acquire By Merger State Bank of Rushford
09/01/1959 Name Change To Citizens Central Bank
01/01/1962 Acquire By Merger Bank of Delevan
07/16/1971 Bank To Trust Co.
12/01/1971 Acquire By Merger Bank of Elba
06/01/1972 Acquire By Merger Citizens State Bank, Lyndonville
09/01/1981 Merge To State Central Trust Company Rochester N.Y.
09/01/1981 Name Change To Central Trust Company
07/01/1992 Merge To State Manufacturers and Traders Trust Company

http://www.scripophily.com/nybankhistoryc.htm

1891

James Stillman 1891-1909 president of City Bank of New York (National City Bank after 1865 - telegraph lines referred to it as "Citibank")

The state of Ohio brought suit against the Standard Oil Company, and the court decided, in 1882, that the act of incorporation was illegal in that state. A similar suit was brought against the Standard Oil Company in the state of New York.   Because of state and Federal laws against the trusts, the Standard Oil Trust was dissolved in 1892.

Many trusts and large corporations----often called "big business"---found it necessary to reorganize and to conform to law.   Combinations, however, did not cease to exist; they merely changed their form.   They obeyed the letter but not the spirit of the law.    In place of trusts, big businesses now became organized as holding companies. [page 434]

Western National Bank of the U.S. in New York
1891 Established Hide & Leather National Bank of New York
07/01/1902 Name Change To National Bank of the U.S. in New York
02/01/1903 Acquire By Merger Western National Bank of the City of New York
02/01/1903 Name Change To Western National Bank of the U.S. in New York
03/01/1903 Merge To Federal National Bank of Commerce in New York
04/01/1929 Succeeded By Bank of Commerce in New York (4/1929-5/1929)
05/04/1929 Merge To State Guaranty Trust Company of New York
04/24/1959 Name Change To Morgan Guaranty Trust Company of New York
11/10/2001 Merge To State JPMorgan Chase Bank
11/13/2004 Convert Federal JPMorgan Chase Bank, National Association  http://www.dfs.ny.gov/about/histw.txt

Astor Place Bank
1891 Established Astor Place Bank
12/01/1896 Acquire By Merger Empire State Bank (1888-12/1896)
03/01/1899 Merge To State Corn Exchange Bank
05/01/1929 Converted To Corn Exchange Bank Trust Company
10/15/1954 Merge To State Chemical Bank and Trust Company
10/15/1954 Name Change To Chemical Corn Exchange Bank
09/01/1959 Name Change To Chemical Bank New York Trust Company
02/17/1969 Name Change To Chemical Bank
07/14/1996 Name Change To Chase Manhattan Bank, The
11/13/2004 Convert Federal JPMorgan Chase Bank, National Association
 http://www.dfs.ny.gov/about/histba.txt

1892

1892: Guaranty Trust (a predecessor firm) opens a representative office, mostly for correspondent banking. It becomes a full service branch in 1897.  https://www.jpmorgan.com/pages/jpmorgan/emea/uk/about/history


Roachdale Bank & Trust Company opened for business on October 7, 1892, in Roachdale, Indiana. During the Great Depression of the 1930's, Roachdale Bank was closed only one day. On December 16, 1931, two men, armed with machine guns and sawed-off shotguns, blew the safe of the Roachdale Bank and escaped with $4,500 in currency and bonds. All of the glass was blown out of the front windows and furniture was torn and splintered. The damage was estimated at $1,000. 
http://www.tricountybank.net/aboutus.html 

1893

  1893: After the collapse of Pacific Railroad Company Deutsche Bank sets up a reorganization committee. https://www.db.com/usa/content/en/Chronicles.html

  Alpheus Branch died Jan. 3, 1893.  http://bbt.mediaroom.com/index.php?s=22728

In 1893, Anthony Drexel,  ( Drexel, Morgan & Co. ) dies.  https://www.jpmorgan.com/country/US/en/jpmorgan/about/history/month/apr

  J.P. Morgan is primary financier of U.S. railroads.  
https://www.jpmorgan.com/pages/company-history

It was in 1893 that Peter Cushman Jones, a 60-year-old businessman, persuaded close friends Joseph Ballard Atherton and Charles Montague Cooke to join him in organizing a new bank in the Islands.  https://www.boh.com/sites/about-us/history.asp

1894

Atlantic Savings & Loan Association
04/25/1894 NYS Chartered Atlantic Co-Operative Savings & Loan Assoc
04/15/1911 Name Change To Atlantic Savings & Loan Association
06/30/1973 Acquire By Merger Liberty Savings & Loan Association
06/30/1973 Name Change To Atlantic Liberty Savings & Loan Association
09/09/1983 Convert Federal Atlantic Liberty Savings, F.A.
   http://www.dfs.ny.gov/about/hista.txt

1895

J. Pierpont Morgan, Sr. becomes senior partner. The New York firm is renamed J.P. Morgan & Co.  https://www.jpmorgan.com/pages/company-history

In 1895, the firm was renamed J.P. Morgan & Co. after Drexel's death in 1893. https://www.jpmorgan.com/country/US/en/jpmorgan/about/history/month/apr

Roosevelt Savings Bank was established in 1895 on the corner of Gates Avenue and Broadway in Brooklyn, under the name "Eastern District Savings Bank." In 1920, the name was changed to honor the memory of the nation's 26th president, Theodore Roosevelt. https://www.mynycb.com/Community/Pages/Foundations.aspx
 
Deposits for First National City Bank (Citibank) reach $31 million—a 158 percent increase from $12 million in 1893. https://www.fdic.gov/about/history/timeline/1850-1899.html

1896

In 1896 Colonel Frost abandoned his wool-commission business and applied for a national bank charter. In February 1899 the bank's official name became Frost National Bank of San Antonio, with assets of $1.3 million. Upon the death of Colonel Frost in 1903, T.C. Frost, Jr. was named president, a position he held until 1926 when he became chairman and his younger brother, J.H. Frost, was named president.  http://www.fundinguniverse.com/company-histories/cullen-frost-bankers-inc-history/

By 1896 the Northern Pacific has been restructured. https://www.db.com/usa/content/en/Chronicles.html

Barclays formed through a merger of 20 banks      http://www.timeline.barclays.com/content/1690/The-start-of-Barclays.html     

Traders Bank, Providence
As noted in 1891:
“The Traders’ Bank was incorporated in June, 1836, with a capital of $200,000, which limit has since been maintained. Its location has been, even to the present time, in the Union Building, No. 4 Westminster street. It was reorganized in 1865 as the Traders’ National Bank. Successive presidents of this bank have been: Erastus F. Knowlton, to about 1840; Earl Carpenter, from that time to 1862; Z. R. Tucker, 1863 to 1873; Henry A. Webb, 1874 to the present time. The cashiers have been: Henry S. Angell, to about 1840; Henry A. Webb, from that time to 1857; Edwin Knight, 1858 to the present time. The directors are Henry A. Webb, Lewis W. Anthony, Albert H. Manchester, Jr., William A. Tucker, Almon Wade, William Sessions and Benjamin W. Spink.” — Richard M. Bayles, ed. History of Providence County, Rhode Island, Volume I. New York: W. W. Preston, 1891.
Chartered as the Traders National Bank of Providence in 1865. Liquidated December 31, 1896.
http://www.ricurrency.com/bank-name/traders-bank-providence/

1897

In 1897, the National City Bank absorbed the Third National Bank. Its president, A. Barton Hepburn, became a vice president of the National City Bank. President, James Stillman; Cashier, George S. Whitson; Notary, H.M. Kilborn. Principal directors: Samuel Sloan, Lawrence Turnure, Rosewell G. Rolston, Cleveland H. Dodge, William Rockefeller (brother of John D. Rockefeller) William Goodsell Rockefeller (1870–1922) married Elsie Stillman, daughter of James Stillman, in Manhattan, New York City. ttps://en.wikipedia.org/wiki/James_Stillman_Rockefeller )(, H. Walter Webb, Francis M. Bacon, M. Taylor Pyne, and Robert Bacon. (National Banks Merge. New York Times, May 21, 1897.) http://www.smokershistory.com/NatlCity.html

Morgan Guaranty Trust Company of New York
FDIC Certificate #: 637
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: JPMorgan Chase Bank, National Association (#628)
Federal Reserve ID: 161415
Date Established: January 01, 1897
Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
Offices: 3 (Interstate: No)
FDIC's unique #: 418
Numeric code: 13
Regulator: FED

 http://www.bankencyclopedia.com/Morgan-Guaranty-Trust-Company-of-New-York-637-New-York-City-New-York.html#ixzz3R0B4NAg7

1897 – Pension Funds
In 1897 the Board of Directors of the SKA creates a pension fund, which provides its employees with benefits after their retirement. In 1919 the SKA creates a pension fund in the form of a cooperative.   https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html

1897: Bank of Hawaii is the first chartered and incorporated bank to do business in the Republic of Hawaii on December 27. The charter is issued by James A. King, Minister of the Interior of the Republic of Hawaii, and signed by Sanford Ballard Dole, president of the Republic. https://www.boh.com/sites/about-us/history.asp

1897: With Peter Cushman Jones serving as Bank of Hawaii’s first president, the bank opens for business with $400,000 in capital with its stock at par value of $100. https://www.boh.com/sites/about-us/history.asp 

Adirondack National Bank & Trust Co Saranac Lake
1897 Established Adirondack National Bnk & Trust Co of Saranac Lake
01/01/1959 Merge To State Northern New York Trust Company
06/01/1963 Name Change To Marine Midland Trust Company of Northern New York
01/01/1970 Name Change To Marine Midland Bank - Northern
01/01/1976 Merge To State Marine Midland Bank (12/75-2/80)
02/01/1980 Convert Federal Marine Midland Bank, N.A.
12/31/1993 Convert State Marine Midland Bank
03/29/1999 Name Change To HSBC Bank USA
12/31/1999 Merge To State Republic Bank of New York
12/31/1999 Name Change To HSBC Bank USA
06/30/2004 Convert Federal HSBC Bank USA 
http://www.dfs.ny.gov/about/hista.txt



1898

 

American Bond and Mortgage Gurarantee Company
01/01/1899 Established American Bond and Mortgage Guarantee Company
08/01/1899 Name Change To International Banking and Trust Company
04/01/1900 Merge To State North American Trust Company
05/01/1905 Name Change To Trust Company of America (5/1905-2/1912)
02/01/1912 Merge To State Equitable Trust Company of New York (1871-5/1930)
05/01/1930 Merge To Federal Chase National Bank of the City of New York
03/01/1955 Merge To State President and Directors of the Manhattan Company
03/01/1955 Name Change To Chase Manhattan Bank, The (1799-9/1965)
09/01/1965 Convert Federal Chase Manhattan Bank, N.A., The
07/14/1996 Merge To State Chemical Bank
07/14/1996 Name Change To Chase Manhattan Bank, The
11/13/2004 Convert Federal JPMorgan Chase Bank, National Association
http://www.scripophily.com/nybankhistorya.htm
 

Astor National Bank of New York, The
1898 Established Astor National Bank of New York, The
03/01/1899 Acquire By Merger Sixth National Bank of the City of New York
03/01/1907 Merge To State New Netherlands Trust Company
03/01/1907 Name Change To Astor Trust Company
04/20/1917 Merge To State Bankers Trust Company
http://www.dfs.ny.gov/about/histba.txt

1899

In 1896 Colonel Frost abandoned his wool-commission business and applied for a national bank charter. In February 1899 the bank's official name became Frost National Bank of San Antonio, with assets of $1.3 million. Upon the death of Colonel Frost in 1903, T.C. Frost, Jr. was named president, a position he held until 1926 when he became chairman and his younger brother, J.H. Frost, was named president.  http://www.fundinguniverse.com/company-histories/cullen-frost-bankers-inc-history/
 

1900

Bank of Caledonia
1900 Established First National Bank of Caledonia
08/01/1966 Convert State Bank of Caledonia
12/29/1972 Merge To Federal Chase Manhattan Bank of Greater Rochester, N. A.
12/01/1976 Merge To Federal Chase Manhattan Bank, N.A., The
07/14/1996 Merge To State Chemical Bank
07/14/1996 Name Change To Chase Manhattan Bank, The
11/13/2004 Convert Federal JPMorgan Chase Bank, National Association http://www.dfs.ny.gov/about/histba.txt

Barclays helps  finance  two of the world's fastest passenger ships   http://www.timeline.barclays.com/content/1690/The-start-of-Barclays.html

President McKinley, whose popularity was heightened by the victory of the United States in the Spanish-American war, was easily returned to a second term in the election of 1900. His running mate was Theodore Roosevelt, Governor of New York.
http://www.eyewitnesstohistory.com/mckinley.htm

Atlas Savings and Loan Association
10/17/1900 NYS Chartered Polish-American Cooperative Savings & Loan Assoc.
08/03/1938 Name Change To Atlas Savings and Loan Association
02/17/2010 Convert Federal Atlas Bank
http://www.dfs.ny.gov/about/hista.txt


1901

 

The International Banking Corporation was established by a special act of the Connecticut legislature in June 1901, which exempted it from state inspection and supervision. Its purpose was to collect the $25 million Boxer Indemnity from China (which the Guaranty Trust also applied for), and expand US banking influence in Asia, the Americas, and the rest of the world. Many of Citibank's foreign branches originated with this firm. http://www.smokershistory.com/Butler.htm

Adirondack Trust Company, The
09/19/1901 NYS Chartered Adirondack Trust Company, The
http://www.dfs.ny.gov/about/hista.txt

---In September 1991,less than a year McKinley’s presidency was cut short by an assassin's bullet delivered in Buffalo, New York....He lingered for eight days finally succumbing to gangrene and infection on September 14 with the words "it is God's way, his will, not ours, be done." http://www.eyewitnesstohistory.com/mckinley.htm 

---With the assassination of President McKinley, Theodore Roosevelt, not quite 43, became the youngest President in the Nation's history. He brought new excitement and power to the Presidency, as he vigorously led Congress and the American public toward progressive reforms and a strong foreign policy.

He took the view that the President as a "steward of the people" should take whatever action necessary for the public good unless expressly forbidden by law or the Constitution." I did not usurp power," he wrote, "but I did greatly broaden the use of executive power."
https://www.whitehouse.gov/1600/presidents/theodoreroosevelt

---J.P. Morgan creates the world's first billion-dollar corporation by buying out industrialist Andrew Carnegie and combining some 33 companies to create United States Steel.  https://www.jpmorgan.com/pages/company-history

1902

  

http://www.relbanks.com/europe/uk/citibank-uk

1902 Convert Federal Marine National Bank of Buffalo, The

London Stock Exchange listing   http://www.timeline.barclays.com/content/1690/The-start-of-Barclays.html

Citi first established operations in China when it opened its Shanghai office in 1902. As the first American bank to fly the red, white and blue flag in China, Citi became known as Hua Qi Yin Hang, literally, the “Flower Flag Bank”. In the modern era, China remains one of Citi's greatest priorities. http://www.citi.com.cn/html/en/about_us/Our_history.html

Citi China
Citi first established an office in China on May 15, 1902, in Shanghai. In April 2007, Citi was among the first international banks to locally incorporate in China. Citi's locally incorporated entity is known as Citibank (China) Co Ltd, which is wholly owned by Citibank N.A. Today Citi is a leading international bank in China, and has twelve corporate bank branches - in Beijing, Shanghai, Guangzhou, Shenzhen, Tianjin, Chengdu, Hangzhou, Dalian, Chongqing, Guiyang, Nanjing and Changsha - and Forty - two consumer bank outlets. With operations in more than 160 countries around the world, Citi is the most global of all international banks in China. http://www.citigroup.com/citi/news/2011/110817a.htm

Citi opened its first Japanese branch in Yokohama in 1902 and has a long and proud history of serving corporate and institutional clients across a broad range of products, including corporate and investment banking, markets and securities services, capital markets origination, treasury and trade solutions, and research. Citi aims to deliver highly innovative financial solutions through an unrivalled global network to support the growth of its clients. http://www.citigroup.com/citi/about/countrypresence/japan.html
 

NOTE: Citibank (USA) says it got its beginning as City Bank in 1912........Am I the only one who see's it impossible for Citibank to have gotten its beginning in the US????????? http://www.citigroup.com/citi/about/history/101.htm

NOTE:  7 institution history record(s) found. 
Event Date Historical Event 
1917-04-25 FIRST NATIONAL CITY BANK OF NEW YORK located at NEW YORK, NY was established as a National Bank. 
1962-01-19 FIRST NATIONAL CITY BANK OF NEW YORK was renamed to FIRST NATIONAL CITY BANK. 
1976-03-01 FIRST NATIONAL CITY BANK was renamed to CITIBANK, N.A. and moved to 5 WALL STREET NEW YORK, NY. 
1978-12-30 CITIBANK, N.A. moved to 55 WALL STREET NEW YORK, NY. 
1990-07-05 CITIBANK, N.A. moved to 399 PARK AVENUE NEW YORK, NY. 
2006-10-01 CITIBANK, N.A. moved to 3900 PARADISE ROAD, SUITE 127 LAS VEGAS, NV. 
2011-07-01 CITIBANK, N.A. moved to 701 EAST 60TH STREET NORTH SIOUX FALLS, SD. 
http://www.ffiec.gov/nicpubweb/nicweb/InstitutionHistory.aspx?parID_RSSD=476810&parDT_END=99991231 

 In 1902, the name[T.Mellon & Sons Bank] is changed to Mellon National Bank and joins the national banking system.
https://www.bnymellon.com/us/en/timeline.jsp


1903

The Bankers Trust Co. was organized in 1903. As part of the plan of organization the entire capital stock, except qualifying shares held by directors, was vested for five years by an agreement dated March 19, 1903m in three trustees, George W. Perkins, then a member of Morgan & Co., Henry P. Davidson, then vice president of the First National Bank of New York and since January 1, 1909, a member of Morgan & Co., and Daniel G. Reid, then vice president of the Liberty National Bank and a director in the United States Steel Corporation and of other affiliated corporations, who were authorized to vote the same for all corporate purposes and especially for the election of directors and in favor of the acquisition of other trust companies.(Ex.54,R.,656;Davison, R., 1815-1817.) Pujo Committee Report

J.P. Morgan & Co. was appointed as fiscal agent for the newly independent Republic of Panama in 1903 and was subsequently selected by the U.S. Treasury Secretary to arrange the transfer of $40 million from the U.S. government to the French Panama Canal Co. This was the largest real estate deal at the time. https://www.jpmorgan.com/pages/company-history 

1904

 Amadeo Peter Giannini founded the Bank of Italy in San Francisco in October 1904 as an institution for the "little fellows."  Within a year, deposits were soaring above $700,000 ($13.5 million in 2002 dollars). http://www.pbs.org/wgbh/theymadeamerica/whomade/giannini_hi.html

 

1905

1905 – First Branch
Credit Suisse takes over the office of Oberrheinische Bank in Basel in 1905, resulting in the opening of the first Credit Suisse branch outside Zurich.   https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html

1905: Wells Fargo separates its banking and express operations; Wells Fargo's bank is merged with the Nevada National Bank to form the Wells Fargo Nevada National Bank.

1906

.

George F. Baker Jr. graduated from Harvard College in 1899 and moved back to New York City. He took a job as a runner or messenger with the First National Bank, a position he held for a few months before taking a similar job with J.P. Morgan & Company.

He continued working for J.P. Morgan until 1901, when he returned to First National as assistant cashier. George F. Baker Jr. is elected Vice-President of the First National Bank of New York [which later becomes Citibank]  in 1906. http://oasis.lib.harvard.ed
 

After a disastrous earthquake and subsequent fires leveled much of the city in 1906, Giannini created new confidence. He set up a temporary bank immediately, collecting deposits, making loans, and proclaiming to all that San Francisco would rise from the ashes. Then he expanded the Bank of Italy across California, breaking with an American tradition of independent local banks by providing his egalitarian banking services to the "little fellows" in the Yugolsavian, Russian, Mexican, Portuguese, Chinese, Greek, and other immigrant communities. By the mid-1920s, he owned the third largest bank in the nation. http://www.pbs.org/wgbh/theymadeamerica/whomade/giannini_hi.html 

1906-Bank of Italy, today known as Bank of America, provides loans to citizens of San Francisco to rebuild after the earthquake. http://www.ustrust.com/ust/pages/about-us.aspx 

Florida Profit Corporation
ELLIS BANK OF BLOUNTSTOWN
Filing Information
Document Number
003378
FEI/EIN Number
59-0544012
Date Filed
08/29/1906
State
FL
Status
INACTIVE
Last Event
CONVERSION
Event Date Filed
09/18/2003
Event Effective Date
NONE
Principal Address
131 S PEAR STREET
P O BOX 419
BLOUNTSTOWN, FL 32424

Changed: 04/01/1982
Mailing Address
131 S PEAR STREET
P O BOX 419
BLOUNTSTOWN, FL 32424

Changed: 04/01/1982
Registered Agent Name & Address
SANDUSKY, C B
131 S PEAR ST
BLOUNSTOWN, FL 32424

Address Changed: 04/01/1982
Officer/Director Detail
Name & Address

Title DC

BELGER, R B
131 S PEAR ST
BLOUNSTOWN, FL 00000

Title D

CORBIN, FINLAY
131 S PEAR ST
BLOUNSTOWN, FL 00000

Title D

ANDERS, C L
131 S PEAR ST
BLOUNSTOWN, FL 00000

Title V

BARBEE, HILMA S
131 S PEAR ST
BLOUNSTOWN, FL 00000

Title DP

SANDUSKY, C B
131 S PEAR ST
BLOUNSTOWN, FL 00000

Annual Reports
Report Year Filed Date
1981 06/23/1981
1982 04/01/1982
1983 03/31/1983

Document Images
No images are available for this filing.


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Events Name History

Events
ELLIS BANK OF BLOUNTSTOWN
Document Number 003378
Date Filed 08/29/1906
Effective Date None
Status Inactive

Event Type Filed Date Effective Date Description
NAME CHANGE AMENDMENT 02/20/1974 OLD NAME WAS : BANK OF BLOUNTSTOWN

Return to Detail Screen
Events
ELLIS BANK OF BLOUNTSTOWN
Document Number 003378
Date Filed 08/29/1906
Effective Date None
Status Inactive

Event Type Filed Date Effective Date Description
CONVERSION 09/18/2003 CONVERTING TO: CONVERSION MEMBER. NON-QUALIFIED CORPORATION WAS ELLIS BANK OF BLOUNTSTOWN, NATIONAL
AMENDMENT 02/01/1977
NAME CHANGE AMENDMENT 02/20/1974 OLD NAME WAS : BANK OF BLOUNTSTOWN
sunbiz.org

 

J.P. Morgan is central to the creation of U.S. Steel, GE and AT&T.     https://www.jpmorgan.com/pages/company-history 

Auburn Trust Company
1906 Established Auburn Trust Company
12/01/1951 Acquire By Merger Wm. H. Seward & Co.
09/01/1960 Merge To State Marine Midland Trust Company of Central New York
01/29/1971 Name Change To Marine Midland Bank - Central
01/01/1976 Merge To State Marine Midland Bank (12/75-2/80)
02/01/1980 Convert Federal Marine Midland Bank, N.A.
12/31/1993 Convert State Marine Midland Bank
03/29/1999 Name Change To HSBC Bank USA
12/31/1999 Merge To State Republic Bank of New York
12/31/1999 Name Change To HSBC Bank USA
06/30/2004 Convert Federal HSBC Bank USA
http://www.dfs.ny.gov/about/hista.txt

1907

During the financial panic of 1907, J. Pierpont Morgan saves several trust companies and a leading brokerage house from insolvency, bails out New York City, and rescues the New York Stock Exchange.  https://www.jpmorgan.com/pages/company-history

In 1907, the stock market and world markets crashed, spurred largely by huge insurance company loses after the San Francisco fire of 1906. Led by J.P. Morgan and John D. Rockefeller, The Clearing House stepped in by lending money to banks, to the stock exchange and to the City of New York until the panic subsided. Not long after this great panic, The Federal Reserve was formed and The Clearing House’s role evolved to become a proactive resource to promote common interests and help shape the U.S. banking industry. https://www.theclearinghouse.org/about-tch/a-look-back

1908

The Bankers Trust Co. was organized in 1903. As part of the plan of organization the entire capital stock, except qualifying shares held by directors, was vested for five years by an agreement dated March 19, 1903m in three trustees, George W. Perkins, then a member of Morgan & Co., Henry P.Davidson, then vice president of the First National Bank of New York and since January 1, 1909, a member of Morgan & Co., and Daniel G. Reid, then vice president of the Liberty National Bank and a director in the United States Steel Corporation and of other affiliated corporations, who were authorized to vote the same for all corporate purposes and especially for the election of directors and in favor of the acquuisition of other trust companies.(Ex.54,R.,656;Davison, R., 1815-1817.) On March 18, 1908, the agreement was renewed for a further period of five years. Before the expiration of that extention a new agreement was made, dated March 9, 1912. substititing George B. Case, of counsel for the company, as voting trustee in place of George W. Perkins, who had retired from the firm of Morgan & Co. Apparently Mr. Case was proposed by Mr. Davison, whose personal counsel he is. (Exs. 54, 55, and 56, R., 656-667; Davison, R,. 1823.) Pujo Committee Report

The Aldrich–Vreeland Act was passed in response to the Panic of 1907 and established the National Monetary Commission, which recommended the Federal Reserve Act of 1913.

On May 27, 1908, the bill passed the House on a mostly party-line vote of 166–140, with 13 Republicans voting against it and no Democrats voting for it. On May 30, it passed in the Senate with 43 Republicans in favor and five Republicans joining 17 Democrats opposed. President Roosevelt signed the bill that same night.

The act also allowed national banks to start national currency associations in groups of ten or more , with at least $5 million in total capital, to issue emergency currency. These bank notes were not to be backed by just government bonds, but also just about any securities the banks were holding.

The act proposed that this emergency currency had to go through a process of approval by the officers of these national currency associations, and then once approved were distributed by the Comptroller of the Currency. However, it is possible that because there was a 5 percent tax placed on this emergency currency for the first month it was "outstanding" and a 1 percent increase for the following months it was "outstanding," no bank notes were issued. Another possible explanation why the emergency currency never issued might have been because it wasn't necessary to do so.

Congress modified and extended the law in 1914 when British and other foreign creditors demanded immediate payments, in gold , of amounts which would ordinarily have been carried over and paid through exports of commodities. 

Senator Nelson W. Aldrich (R-RI) was largely responsible for the Aldrich-Vreeland Currency Law, and he became the Chairman of the National Monetary commission. The co-sponsor of the legislation was Rep. Edward Vreeland, a Republican from New York. A usage of the law occurred at the outbreak of the World War I in 1914 when the first great financial panic of the twentieth century befell the world, necessitating the closure of the New York Stock Exchange. Secretary of the Treasury William Gibbs McAdoo appeared in New York City
and assured the public that ample stocks of emergency bank notes had been prepared in accordance with the Aldrich–Vreeland Act and were available for issue to the banks. As of October 23, 1914, $368,616,990 was outstanding.

The Federal Reserve Act of December 23, 1913 took effect in November, 1914 when the 12 regional banks opened for business. Ultimately the emergency currency issued under the Aldrich-Vreeland Law was entirely withdrawn.
http://www.absoluteastronomy.com/topics/Aldrich-Vreeland_Act

1909


Frank A. Vanderlip - 1909-1919 president of City Bank of New York (National City Bank after 1865 - telegraph lines referred to it as "Citibank")

James Stillman - 1909-1918 Chairman of City Bank of New York (National City Bank after 1865 - telegraph lines referred to it as "Citibank")The Chairman position was not filled between 1918 (Stillman's death) and 1929. Duties were handled by the President who acted on an interim basis.

The origin of the income tax on individuals is generally cited as the passage of the 16th Amendment, passed by Congress on July 2, 1909, and ratified February 3, 1913; however, its history actually goes back even further. During the Civil War Congress passed the Revenue Act of 1861 which included a tax on personal incomes to help pay war expenses. The tax was repealed ten years later. However, in 1894 Congress enacted a flat rate Federal income tax, which was ruled unconstitutional the following year by the U.S. Supreme Court because it was a direct tax not apportioned according to the population of each state. The 16th amendment, ratified in 1913, removed this objection by allowing the Federal government to tax the income of individuals without regard to the population of each State. For additional information on taxation in the United States, see the section on taxes on the web site of the U.S. Department of the Treasury. 

Founded in 1909, The First Trust and Savings Bank of Watseka has weathered a number of historical events with area residents – events such as World War I, World War II and The Great Depression. And through it all, The First Trust and Savings Bank points with pride to the fact that it has consistently grown to better meet the needs of its customers.

Another way we might evaluate these 100+ years is in terms of growth. The bank was originally capitalized with $93,750 and by December 2012 had capital in excess of $27,000,000 and assets exceeding $230,000,000. The First Trust and Savings Bank is routinely recognized as one of America’s strongest banks by national bank rating firms.

During 1993, The First Trust and Savings Bank created a bank holding company, First Trust Holdings, Inc. Also in 1993, The First National Bank of Clifton joined the Bank Holding Company. In December 2004 the two banks merged into The First Trust and Savings Bank.
http://www.ftsbank.com/a_history.asp

 

1910

On the evening of November 22, 1910, seven of the riches men , together representing about one fourth the world's wealth at the time, left Hoboken, New Jersey on a train in complete secrecy, dropping their last names in favor of first names, or code names, so no one would discover who they all were. The excuse for such powerful representatives and wealth was to go on a duck hunting trip on Jekyll Island.

1. Nelson W. Aldrich, Republican "whip" in the Senate, Chairman
of the National Monetary Commission, business associate of J.P.
Morgan, father-in-law to John D. Rockefeller, Jr.;
2. Abraham Piatt Andrew, Assistant Secretary of the United States
Treasury;
3. Frank A. Vanderlip, president of the National City Bank of New
York, the most powerful of the banks at that time, representing
William Rockefeller and the international investment banking
house of Kuhn, Loeb and Co;
4. Henry P. Davison, senior partner of the J.P. Morgan Company;
5. Charles D. Norton, president of J.P. Morgan's First National Bank
of New York; http://query.nytimes.com/mem/archive-free/pdf?res=9F0DEFD6113EE233A25751C0A9659C946096D6CF
1
6. Benjamin Strong, head of J.P. Morgan's Bankers Trust  Company;
and
7. Paul M. Warburg , a partner inKuhn, Loeb and Company, a
representative of the Rothschild banking dynasty in England
and France, and brother to Max Warburg who was head of the
Warburg banking consortium in Germany and the Netherlands.

https://archive.org/details/CreatureFromJekyllIslandByG.Edward-G.EdwardGriffin  

https://ia701202.us.archive.org/11/items/CreatureFromJekyllIslandByG.Edward-G.EdwardGriffin/CreatureFromJekyllIslandByG.Edward-G.EdwardGriffin.pdf

1910 – Paris
SKA opens a representative office in Paris for its international safekeeping account clients.  https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html

1910: J.P. Morgan becomes Morgan Grenfell & Co.      https://www.jpmorgan.com/pages/jpmorgan/emea/uk/about/history
 

The Meeting at Jekyll Island
November 20, 1910–November 30, 1910

A secret gathering at a secluded island off the coast of Georgia in 1910 laid the foundations for the Federal Reserve System.

The Jekyll Island Club, Georgia.
The old clubhouse, Jekyll Island, Georgia. (Courtesy of Tyler E. Bagwell)
by Gary RichardsonOffsite link and Jessie Romero, Federal Reserve Bank of Richmond
Sections
The Need for Reform
The Duck Hunt
The Plan Takes Shape
Postscript

In November 1910, six men – Nelson Aldrich, A. Piatt Andrew, Henry Davison, Arthur Shelton, Frank Vanderlip and Paul Warburg – met at the Jekyll Island Club, off the coast of Georgia, to write a plan to reform the nation’s banking system. The meeting and its purpose were closely guarded secrets, and participants did not admit that the meeting occurred until the 1930s. But the plan written on Jekyll Island laid a foundation for what would eventually be the Federal Reserve System.

The Need for Reform
At the time, the men who met on Jekyll Island believed the banking system suffered from serious problems. The Jekyll Island participants’ views on this issue are well known, since before and after their conclave several spoke publicly and others published extensively on the topic. Collectively, they encapsulated their concerns in the plan they wrote on Jekyll Island and in the reports of the National Monetary Commission.

Like many Americans, these men were concerned with financial panics, which had disrupted economic activity in the United States periodically during the nineteenth century. Nationwide panics occurred on average every fifteen years. These panics forced financial institutions to suspend operations, triggering long and deep recessions. American banks held large required reserves of cash, but these reserves were scattered throughout the nation, held in the vaults of thousands of banks or as deposits in financial institutions in designated reserve and central reserve cities. During crises, they became frozen in place, preventing them from being used to alleviate the situation. During booms, banks’ excess reserves tended to flow toward big cities, especially New York, where bankers invested them in call loans, which were loans repayable on demand to brokers. The brokers in turn loaned the funds to investors speculating in equity markets, whose stock purchases served as collateral for the transactions. This American system made bank reserves immobile and equity markets volatile, a recipe for financial instability.


I
n Europe, in contrast, bankers invested much of their portfolio in short-term loans to merchants and manufacturers. This commercial paper directly financed commerce and industry while providing banks with assets that they could quickly convert to cash during a crisis. These loans remained liquid for several reasons. First, borrowers paid financial institutions – typically banks with which they had long-standing relationships – to guarantee repayment in case the borrowers could not meet their financial obligations. Second, the loans funded merchandise in the process of production and sale and that merchandise served as collateral should borrowers default. The Jekyll Island participants also worried about the inelastic supply of currency in the United States. The value of the dollar was linked to gold, and the quantity of currency available was linked to the supply of a special series of federal government bonds. The supply of currency neither expanded nor contracted with seasonal changes in demands for cash, such as the fall harvest or the holiday shopping season, causing interest rates to vary substantially from one month to the next. The inelastic supply of currency and limited supplies of gold also contributed to long and painful deflations.

Furthermore, Jekyll Island participants believed that an array of antiquated arrangements impeded America’s financial and economic progress. For example, American banks could not operate overseas. Thus, American merchants had to finance imports and exports through financial houses in Europe, principally London. American banks also struggled to collectively clear checks outside the boundaries of a single city. This increased costs of inter-city and interstate commerce and required risky and expensive remittances of cash over long distances.

In an article published in the New York Times in 1907, Paul Warburg, a successful, German-born financier who was a partner at the investment bank Kuhn, Loeb, and Co. and widely regarded as an expert on the banking systems in the United States and Europe, wrote that the United States’ financial system was “at about the same point that had been reached by Europe at the time of the Medicis, and by Asia, in all likelihood, at the time of Hammurabi” (Warburg 1907).

Just months after Warburg wrote those words, the country was struck by the Panic of 1907. The panic galvanized the US Congress, particularly Republican senator Nelson Aldrich, the chair of the Senate Finance Committee. In 1908, Aldrich sponsored a bill with Republican representative Edward Vreeland that, among other things, created the National Monetary Commission to study reforms to the financial system. Aldrich quickly hired several advisers to the commission, including Henry Davison, a partner at J.P. Morgan, and A. Piatt Andrew, an economics professor at Harvard University. Over the next two years, they studied banking and financial systems extensively and visited Europe to meet with bankers and central bankers.


The Duck Hunt
By the fall of 1910, Aldrich was persuaded of the necessity of a central bank for the United States. With Congress ready to begin meeting in just a few weeks, Aldrich -- most likely at Davison’s suggestion -- decided to convene a small group to help him synthesize all he had learned and write down a proposal to establish a central bank.

The group included Aldrich; his private secretary Arthur Shelton; Davison; Andrew (who by 1910 had been appointed assistant Treasury secretary); Frank Vanderlip, president of National City Bank and a former Treasury official; and Warburg.

A member of the exclusive Jekyll Island Club, most likely J.P. Morgan, arranged for the group to use the club’s facilities. Founded in 1886, the club’s membership boasted elites such as Morgan, Marshall Field, and William Kissam Vanderbilt I, whose mansion-sized “cottages” dotted the island. Munsey’s Magazine described it in 1904 as “the richest, the most exclusive, the most inaccessible” club in the world.

Brunswick, Georgia, train station. Jekyll Island meeting attendees arrived here.
Train station in Brunswick, Georgia, near Jekyll Island. (Courtesy Tyler E. Bagwell)
Aldrich and Davison chose the attendees for their expertise, but Aldrich knew their ties to Wall Street could arouse suspicion about their motives and threaten the bill’s political passage. So he went to great lengths to keep the meeting secret, adopting the ruse of a duck hunting trip and instructing the men to come one at a time to a train terminal in New Jersey, where they could board his private train car. Once aboard, the men used only first names – Nelson, Harry, Frank, Paul, Piatt, and Arthur – to prevent the staff from learning their identities. For decades after, the group referred to themselves as the “First Name Club.”

An additional member of the First Name Club was Benjamin Strong, vice president of the Bankers Trust Company and the future founding chief executive officer (then called governor, now called president) of the Federal Reserve Bank of New York. But it is unlikely Strong attended the meeting on Jekyll Island. In his autobiography, Vanderlip recalls him attending, but no other account indicates Strong’s presence. Most scholars and journalists who have written about the issue, including Bertie Charles (B.C.) Forbes -- the founder of Forbes magazine and the journalist who first revealed the meetings in an article in 1916 -- have concluded Strong did not attend (Forbes 1916). Strong had worked closely with the Jekyll Island attendees in other venues, however, and his ideas were certainly present at the meeting even if he was not there in person. After the meeting, as the First Name Club revised the plan and prepared it for publication, Strong was frequently consulted and according to Forbes, “joined the ‘First-Name Club’ as ‘Ben’” (Forbes 1922).

The Plan Takes Shape
Aldrich and his colleagues quickly realized that while they agreed on some broad principles -- establishing an elastic currency supplied by a bank that held the reserves of all banks -- they disagreed on details. Figuring out those details was a “desperately trying undertaking,” in Warburg’s words. Completely secluded, the men woke up early and worked late into the night for more than a week. “We had disappeared from the world onto a deserted island,” Vanderlip recalled in his autobiography. “We put in the most intense period of work that I have ever had.”

By the end of their time on Jekyll Island, Aldrich and his colleagues had developed a plan for a Reserve Association of America, a single central bank with fifteen branches across the country. Each branch would be governed by boards of directors elected by the member banks in each district, with larger banks getting more votes. The branches would be responsible for holding the reserves of their member banks; issuing currency; discounting commercial paper; transferring balances between branches; and check clearing and collection. The national body would set discount rates for the system as a whole and buy and sell securities.

Shortly after returning home, Aldrich became ill and was unable to write the group’s final report. So Vanderlip and Strong traveled to Washington to get the plan ready for Congress. Aldrich presented it to the National Monetary Commission in January 1911 without telling the commission members how the plan had been developed. A final report, along with legislative text, went to Congress a year later with a few minor changes, including naming the new institution the National Reserve Association.

In a letter accompanying the report, the Commission said it had created an institution “scientific in its method, and democratic in its control.” But many people, especially Democrats, objected to the version of democracy it presented, which could have allowed the largest banks to exert outsized influence on the central bank’s leadership. With a presidential election coming up, the Democrats made repudiating the Aldrich plan a part of their platform. When Woodrow Wilson won the presidency and the Democrats took control of both houses, Aldrich’s National Reserve Association appeared to be shelved.

Leaders of the Democratic Party, however, also were interested in reform, including President Wilson and the chairs of the House and Senate Committees on Banking and Currency, Carter Glass and Robert Owen, respectively. Glass and Owen both introduced proposals to form a central banking system based on draft legislation supported by Wilson. Glass, Owen, and their staffs directly consulted with Warburg, whose technical expertise was respected by Democratic and Republican politicians alike. Wilson’s chief political adviser, Col. E. M. House, met and corresponded with Warburg to discuss banking reform in general and the Glass and Owen plans in particular. So did William McAdoo and Henry Morgenthau, senior political and policy advisers to Wilson who served in his administration. Morgenthau assured Warburg “that he sent his copy of the [January 10, 1913] memorandum to President Wilson” (Warburg 1930, p. 90). Together, these ideas formed the basis of the final Federal Reserve Act, which Congress passed and the president signed in December 1913. The technical details of the final bill closely resembled those of the Aldrich Plan. The major differences were the political and decision-making structures, which was a compromise acceptable to both the progressive and populist wings of the Democratic Party.

Postscript
B.C. Forbes somehow learned about the Jekyll Island trip and wrote about it in 1916 in an article published in Leslie’s Weekly (October 19, 1916 p. 423), which was recapitulated a few months later in an article in the magazine Current Opinion. In 1917, Forbes again described the meeting in Men Who Are Making America, a collection of short biographies of prominent entrepreneurs, including Davison, Vanderlip, and Warburg. Not many people noticed the revelation, and those who did dismissed it as “a mere yarn,” according to Aldrich’s biographer.

The participants themselves denied the meeting had occurred for twenty years, until the publication of Aldrich’s biography in 1930. The impetus for coming clean was probably the publication in 1927 of Carter Glass’s memoir, An Adventure in Constructive Finance. In it, Glass, by now a senator, claimed credit for the key ideas in the Federal Reserve Act, which
prompted the Jekyll Island participants to reveal their roles in creating the Federal Reserve.

Warburg was especially critical of Glass’s description of events. In 1930, he published a two-volume book describing the origins of the Fed, including a line-by-line comparison of the Aldrich bill and the Glass-Owen bill to prove their similarity. In the introduction, he wrote, “I had gone to California for a three months’ rest when the appearance of a series of articles written by Senator Glass…impelled me to lay down in black and white my recollections of certain events in the history of banking reform.” Warburg’s book does not mention Jekyll Island specifically, although he states that

“In November, 1910, I was invited to join a small group of men who, at Senator Aldrich’s request, were to take part in a several days’ conference with him, to discuss the form that the new banking bill should take. … when the conference closed … the rough draft of what later became the Aldrich Bill had been agreed upon ... The results of the conference were entirely confidential. Even the fact that there had been a meeting was not permitted to become public. … Though eighteen years have gone by, I do not feel free to give a description of this most interesting conference concerning which Senator Aldrich pledged all participants to secrecy. I understand, however, a history of Senator Aldrich’s life … will contain an authorized account to of this episode” (Warburg 1930, pp. 58-60).

Disagreements over authorship of the Federal Reserve Act received widespread publicity in the late 1920s. Glass defended his claim for the lion’s share of the credit in speeches, in his book, and in submissions to prominent publications including the New York Evening Post and the New York Times. Critics responded in similar venues and academic journals. For example, Samuel Untermyer, former counsel to the House Committee on Banking and Currency, published a pamphlet titled “Who is Entitled to the Credit for the Federal Reserve Act? An Answer to Senator Carter Glass,” in which he asserted that Glass’s claims of primary authorship were “fiction,” “fable,” and a “work of imagination” (Untermyer 1927). In 1914, Edwin
Seligman, a prominent professor at Columbia University, wrote that “in its fundamental features the Federal Reserve Act is the work of Mr. Warburg more than of any other man.” In 1927, Seligman and Glass debated this point in a series of letters published in the New York Times.

The Jekyll Island Club never bounced back from the Great Depression, when many of its members resigned, and it closed in 1942. Today, its former clubhouse and cottages are National Historic Landmarks. But the debates at and about the conference on Jekyll Island remain relevant today.

Bibliography

Forbes, B.C. Men Who Are Making America. New York: B.C. Forbes Publishing Co., Inc., 1917.

Forbes, B.C. “How the Federal Reserve Bank Was Evolved by Five Men on Jekyl Island.” Current Opinion vol. 61, no. 6 (December 1916): pp. 382-383.

Glass, Carter. An Adventure in Constructive Finance. New York: Doubleday, 1927.

Glass, Carter, “Mr. Warburg and the Bank: A Reply to Prof. Seligman on the Paternity of the Federal Reserve,” New York Times, February 15, 1927, p. 24.

Lamont, Thomas. Henry P. Davison: The Record of a Useful Life. New York and London: Harper and Brothers Publishers, 1933.

Lowenstein, Roger. America’s Bank: The Epic Struggle to Create the Federal Reserve. New York: Penguin Press, 2015.

New York Times. “Untermyer Assails Glass on Bank Act: Calls His History of Federal Reserve Fiction and Its Author Credulous. Claims Glory for Owen. Wilson, McAdoo and Bryan also Entitled to Credit … " June 20, 1927, p. 4.

Seligman, Edwin R. “Introduction: Essays on Banking Reform in the United States, by Paul M. Warburg.” Proceedings of the Academy of Political Science vol. 4, no. 4 (July 1914): pp. 3-6.

Seligman, Edwin R., “The Federal Reserve Act. Professor Seligman Takes Issue with a Statement by Senator Glass,” New York Times, February 1, 1927, p. 26.

Stephenson, Nathaniel Wright. Nelson W. Aldrich: A Leader in American Politics. New York: Charles Scribner’s Sons, 1930. Reissued in 1971 by Kennikat Press.

Untermyer, Samuel. “Who Is Entitled to Credit for the Federal Reserve Act? An Answer to Senator Carter Glass.” Manuscript, June 19, 1927. Available at http://www.okhistory.org/historycenter/federalreserve/untermeyer.pdf Offsite link

United States National Monetary Commission. Letter from Secretary of the National Monetary Commission, Transmitting, Pursuant to Law, the Report of the Commission. Washington: Government Printing Office, January 8, 1912. https://fraser.stlouisfed.org/title/?id=641Offsite link, accessed on August 11, 2015.

Vanderlip, Frank, and Boyden Sparks. From Farm Boy to Financier. New York and London: D. Appleton-Century Company, 1935.

Warburg, Paul M., “The Defects and Needs of Our Banking System,” New York Times: Annual Financial Review, January 6, 1907, p. 14-15, 38-39.

Warburg, Paul M. The Federal Reserve System: Its Origins and Growth. New York: The Macmillan Company, 1930.

Wicker, Elmus. The Great Debate on Banking Reform. Columbus, Ohio: Ohio State University Press, 2005.
Written as of December 4, 2015. See disclaimer.

Related Essays
Before the Fed: The Historical Precedents of the Federal Reserve System
The Panic of 1907
Related People
Paul M. Warburg
Paul M. Warburg
Vice Governor
Federal Reserve Board
1916–1918
Nelson W. Aldrich
Nelson W. Aldrich
Senator
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1881–1911
View More
Related Links
Jekyll Island and the Creation of the Federal ReserveOffsite link


https://www.federalreservehistory.org/essays/jekyll_island_conference

1911

International Business Machines Corporation (IBM or the company) was incorporated in the State of New York on June 16, 1911, as the Computing-Tabulating-Recording Co. (C-T-R), a consolidation of the Computing Scale Co. of America, the Tabulating Machine Co. and The International Time Recording Co. of New York. Since that time, IBM has focused on the intersection of business insight and technological innovation, and its operations and aims have been international in nature. This was signaled over 85 years ago, in 1924, when C-T-R changed its name to International Business Machines Corporation.  http://www.ibm.com/investor/pdf/10K_2011.pdf

Canadian Bank of Commerce - Fgn Branch
09/01/1911 Licensed Canadian Bank of Commerce
07/19/1961 Acquire By Merger Imperial Bank of Canada
07/19/1961 Name Change To Canadian Imperial Bank of Commerce
09/20/2013 Agency To Branch  http://www.dfs.ny.gov/about/histc.txt

1912

The Bankers Trust Co. was organized in 1903. As part of the plan of organization the entire capital stock, except qualifying shares held by directors, was vested for five years by an agreement dated March 19, 1903m in three trustees, George W. Perkins, then a member of Morgan & Co., Henry P.Davidson, then vice president of the First National Bank of New York and since January 1, 1909, a member of Morgan & Co., and Daniel G. Reid, then vice president of the Liberty National Bank and a director in the United States Steel Corporation and of other affiliated corporations, who were authorized to vote the same for all corporate purposes and especially for the election of directors and in favor of the acquuisition of other trust companies.(Ex.54,R.,656;Davison, R., 1815-1817.) On March 18, 1908, the agreement was renewed for a further period of five years. Before the expiration of that extention a new agreement was made, dated March 9, 1912. substititing George B. Case, of counsel for the company, as voting trustee in place of George W. Perkins, who had retired from the firm of Morgan & Co. Apparently Mr. Case was proposed by Mr. Davison, whose personal counsel he is. (Exs. 54, 55, and 56, R., 656-667; Davison, R,. 1823.) Pujo Committee Report

 

The City Bank of New York was formed on June 16th, 1812, after overcoming many obstacles and political maneuverings. Led by Samuel Osgood, a far-sighted elder statesman who believed in expanding trade across borders, the bank let New York compete with Boston, Baltimore and Philadelphia for the nation's business.
http://www.citigroup.com/citi/about/history/101.htm

Citigroup SUBSIDIARIES OF THE COMPANY

NOTE: Citibank (China) was opened in 1902. 

NOTE: 7 institution history record(s) found. 

Event Date Historical Event 
1917-04-25 FIRST NATIONAL CITY BANK OF NEW YORK located at NEW YORK, NY was established as a National Bank. 
1962-01-19 FIRST NATIONAL CITY BANK OF NEW YORK was renamed to FIRST NATIONAL CITY BANK. 
1976-03-01 FIRST NATIONAL CITY BANK was renamed to CITIBANK, N.A. and moved to 5 WALL STREET NEW YORK, NY. 
1978-12-30 CITIBANK, N.A. moved to 55 WALL STREET NEW YORK, NY. 
1990-07-05 CITIBANK, N.A. moved to 399 PARK AVENUE NEW YORK, NY. 
2006-10-01 CITIBANK, N.A. moved to 3900 PARADISE ROAD, SUITE 127 LAS VEGAS, NV. 
2011-07-01 CITIBANK, N.A. moved to 701 EAST 60TH STREET NORTH SIOUX FALLS, SD. 
http://www.ffiec.gov/nicpubweb/nicweb/InstitutionHistory.aspx?parID_RSSD=476810&parDT_END=99991231 

1912-12-31 PRIMERICA CORPORATION located at 65 EAST 55TH STREET, NEW YORK, NY was established as a Domestic Entity Other.

Chartered Bank, The - Fgn Agency
1912 Licensed Chartered Bank of India, Australia, and China
1957 Name Change To Chartered Bank, The
1961 Agency To Branch
04/01/1978 Merge To State Standard Chartered Bank Limited
09/28/1982 Name Change To Standard Chartered Bank PLC
01/01/1985 Name Change To Standard Chartered Bank   http://www.dfs.ny.gov/about/histc.txt

1913

In 1913, Baker Sr. and his powerful financier friends were called to Washington D.C. to testify in front of the US Congress as part of an investigation lead by Louisiana Congressman Arsene P. Pujo and the House Committee on Banking and Currency into the so called money trust. The money trust was a term coined to describe a group of powerful Wall Street bankers who some thought controlled the finances of the nation. The Pujo Committee received a lot of newspaper press and the stress contributed to the death of J.P. Morgan. http://oasis.lib.harvard.ed

J. Pierpont Morgan died at age 75 in Rome on March 31, 1913, and his son, John "Jack" Pierpont Morgan, Jr. took over the helm of J.P. Morgan & Co.   https://www.jpmorgan.com/country/US/en/jpmorgan/about/history/month/apr

The Bankers Trust Co. was organized in 1903. As part of the plan of organization the entire capital stock, except qualifying shares held by directors, was vested for five years by an agreement dated March 19, 1903m in three trustees, George W. Perkins, then a member of Morgan & Co., Henry P.Davidson, then vice president of the First National Bank of New York and since January 1, 1909, a member of Morgan & Co., and Daniel G. Reid, then vice president of the Liberty National Bank and a director in the United States Steel Corporation and of other affiliated corporations, who were authorized to vote the same for all corporate purposes and especially for the election of directors and in favor of the acquuisition of other trust companies.(Ex.54,R.,656;Davison, R., 1815-1817.) On March 18, 1908, the agreement was renewed for a further period of five years. Before the expiration of that extention a new agreement was made, dated March 9, 1912. substititing George B. Case, of counsel for the company, as voting trustee in place of George W. Perkins, who had retired from the firm of Morgan & Co. Apparently Mr. Case was proposed by Mr. Davison, whose personal counsel he is. (Exs. 54, 55, and 56, R., 656-667; Davison, R,. 1823.) Pujo Committee Report



 In the first year of President Wilson's administration (1913) the famous Federal Reserve Act was finally passed.

The Federal Reserve Act of 1913 reorganized the country's entire system of banking and paper currency. It is also known as the Glass-Owen Act, since the gentlemen of those names were the chairmen of the Congressional committees which dealt with the matter.

It was decided, instead of having one central bank for the entire country as some had recommended, to have reserve banks distributed in different sections, but under such a system of control that they could be employed as a unit when necessary.

At the head of the system is the Federal Reserve Board. This is composed of the Secretary of the Treasury, the Comptroller of the Currency, and six other persons appointed by the President.  One of these must be a so-called "dirt" farmer. They have general supervision over the entire administration of the banking system.

 

The Federal Reserve System IS CREATED 1913

Federal Reserve Members

On Dec. 23, 1913, President Woodrow Wilson signed the Federal Reserve Act. Over the next year, a selection committee made up of Secretary of the Treasury William McAdoo, Secretary of Agriculture David Houston, and Comptroller of the Currency John Williams decided which U.S. cities would be a place of residence for one of 12 Federal Reserve District Banks.
https://www.stlouisfed.org/in-plain-english/who-owns-the-federal-reserve-banks

William G. McAdoo was sworn in as the secretary of Treasury on March 5, 1913. Upon passage of the Federal Reserve Act on December 23, 1913, McAdoo became chairman of the Federal Reserve Board and a member of the Reserve Bank Organization Committee (RBOC). The Federal Reserve Act required McAdoo to hold the first meeting of the Federal Reserve Board in Washington, DC, “as soon as may be after the passage of the act, at a date to be fixed by the RBOC.” McAdoo retired as Treasury secretary on December 15, 1918, and Carter Glass became the new Treasury secretary and chairman of the Federal Reserve Board.

Born near Marietta, Georgia, in 1863, McAdoo spent his early life in the South. After graduating from the University of Tennessee, he was appointed deputy clerk for the US Circuit Court for the Southern Division, Eastern District of Tennessee. In 1885, he was admitted to the bar. He practiced law in Chattanooga, Tennessee, until 1892, when he moved to New York. There, he continued to practice until 1903.

McAdoo involved himself in a variety of industries. He was the president and director of Hudson & Manhattan Railroad Company, which completed the first tunnel under the Hudson River in 1904. In 1912, he served as the chairman of the Democratic National Committee (DNC) and also as acting chairman.

As Treasury secretary during the outbreak of World War I, McAdoo took bold steps to confront financial crisis. In July 1914, European investors began liquidating their American holdings into US currency, then converting them to gold, which backed the US dollar. To forestall the sell-off, McAdoo closed the New York Stock Exchange for four months. Some economists credit his actions with preventing the collapse of the US financial and stock markets and laying the groundwork for a shift in economic power from Europe to America.

During McAdoo’s term as Treasury secretary and ex-officio chairman of the Federal Reserve Board, he held other positions as well. McAdoo was ex-officio chairman of the Federal Farm Loan Board and director general of US Railroads.

After resigning as Treasury secretary, it was suggested at the 1920 DNC Convention in San Francisco that McAdoo run for president of the United States. He requested that his name not be presented to the convention. In a later convention his name was included on the ballot, but he was not nominated. McAdoo remained active in various cities’ DNCs well into the 1930s. From 1933 to 1938, he was a US senator. He also wrote two books: one about prohibition and an autobiography.

McAdoo was married three times. He had five children with his first wife, Sarah, who died in 1912. After Sarah’s death, he married President Woodrow Wilson’s daughter Eleanor. The couple was married at the White House and had two children before divorcing. In 1935, McAdoo married his third wife, Doris.
McAdoo died in 1941.
Written by the Board of Governors of the Federal Reserve System. See disclaimer.
https://www.federalreservehistory.org/people/william_g_mcadoo

1914

The Class A stock of the Federal Reserve has not been sold or traded on the open market since it was hermetically sealed from the public at the end of the summer of 1914. 
 

1914: The opening of a Deutsche Bank branch in New York fails. https://www.db.com/usa/content/en/Chronicles.html 

Clayton Antitrust Act

1915

Staley, Ch. 3 / World War I Document Archive, Brigham Young University
Directors of the International Banking Corporation, 1915: Charles B. Alexander, Jules S. Bache, Guy Cary, Haley Fiske, Frank P. Frazier, H.T.S. Green, Lionel Hagenaers, John R. Hegeman, William G. Henshaw, Erskine Hewitt, Colgate Hoyt, John Hubbard, Minor C. Keith, George H. Macy, Pierre Mali, Henry P. McIntosh, William Barclay Parsons, William Salomon, Hermann Sielcken, Valintine P. Snyder, Sir William C. Van Horne, James G. White. (Directory of Directors in the City of New York, 1915 Vol. 1939, p. 793.)
Jules S. Bache, as broker of the stock in the International Banking Corporation held by Thomas Hamlin Hubbard's estate, sold it to the National City Company, the investing company of the National City Bank. "When Mr. Vanderlip was asked if interests identified with his bank had not bought the Bache stock, he would only say: 'When you use that word 'interests' you open a wide range of possibilities.'" The bank had about sixteen in China, Japan, India, and the Philippines. (Bache Sells Bank to National City Co. New York Times, Oct. 29, 1915.)  http://www.smokershistory.com/Butler.htm

J.P. Morgan arranges the biggest foreign loan in history – a $500 million Anglo/French loan. https://www.jpmorgan.com/pages/company-history

California Perfume Co. Employees' S & L Assoc
03/01/1915 NYS Chartered California Perfume Co. Employees' S & L Assoc
1939 Liquidated  
http://www.dfs.ny.gov/about/histc.txt

1916

DAVISON MEETS BANKERS.; Tells Chicagoans We Must Be Liberal In Crediting Europe.
PERMISSIONS
Special to The New York Times. ();
November 04, 1916,
, Section , Page 14, Column , words
[ DISPLAYING ABSTRACT ]
CHICAGO, Nov. 3. -- George M. Reynolds, President of the Continental and Commercial National Bank, entertained several of the West's leading bankers tonight in honor of Henry P. Davison of J.P. Morgan Co., who recently returned from Europe after arranging the $300,000,000 United Kingdom collateral loan.
November 04, 1916
http://query.nytimes.com/gst/abstract.html?res=9E00E2DA1430E733A05757C0A9679D946796D6CF&legacy=true

Bank of Buffalo
1916 Established Morris Plan Company of Buffalo
1931 Name Change To Buffalo Industrial Bank
04/01/1959 Name Change To Bank of Buffalo
03/19/1963 Bank To Trust Co.
06/01/1966 Acquire By Merger State Bank of Kenmore
12/22/1975 Acquire By Merger Niagara Frontier Bank of New York
01/01/1976 Merge To State Bank of New York, The (9/1922-10/1989)
10/06/1989 Merge To State Irving Trust Company
10/06/1989 Name Change To Bank of New York, The    http://www.dfs.ny.gov/about/histba.txt 


Citi's history in Russia began almost 100 years ago and is closely tied to the dramatic events that unfolded during that period of the country's history. Citi has always acted as a unifying link between the Russian economy and other world economies and played an important role in the development of the country's trade and external economic relations.

Citi first entered Russia on the eve of the Revolution. In 1916, Citi, then-called National City Bank (NCB), underwrote bonds to support the government of the Russian Empire as World War I took its toll on the country's resources. Believing that Russia would soon emerge from the war and embark on a period of rapid economic development, NCB executives established a branch in Petrograd on January 15, 1917. Just two months later, the tsar was forced to abdicate, and a new, liberal government took power. Even as the battles raged in the streets of Petrograd, the bank established a new branch in Moscow in November. By December, the new Bolshevik government had taken control of the major cities of European Russia. On February 3, 1919, the bank established a branch in the city of Vladivostok in the Far East, a meeting point for retreating soldiers and refugees. On March 13, 1920, all three branches were closed.

Between 1920 and 1970, diplomatic and economic challenges – followed by WWII and then the Cold War – prevented the bank from re-entering the country. In the 1970s, however, during the period of détente, U.S.-Soviet trade increased, and there was greater contact between the two countries. In June 1973, the Soviet government gave Citi permission to establish a limited presence in the U.S.S.R., and, in 1974, the bank opened a representative office in Moscow on Karl Marx Avenue. Six years later, with the onset of the Afghanistan War and increasing tensions between the East and the West, the office was shut down. In 1992, following the collapse of the Soviet Union and emergence of the Russian Federation on the global marketplace, Citi once again had the opportunity to open a representative office in Moscow.

Having opened its office on October 1, 1992, by November 1, 1993, the bank had received all the necessary licenses to provide banking services in the Russian Federation, thus becoming one of the first international banks to enter the Russian market. In January 1994, Citi was inaugurated as a financial institution focused on corporate banking services, financing and trade. In 1995, Citi advised Mosenergo – the largest generating company operating on fossil fuel in Russia – on the first-ever ADR issue by a Russian company. It was Citi Russia's first major deal after its opening. On February 7, 1996, the bank opened a branch in St. Petersburg. Citi engaged in business and development financing for government bodies and a wide spectrum of corporate clients.

In 1998, Russia was hit by a financial crisis; although many other international banks left, Citi remained. As a result, Citi Russia became stronger and greatly expanded its presence in the Russian market. In November 2002, the bank launched a retail banking business and began to expand its presence with new branches and sales centers. By 2010, Citi's retail operations in Russia were serving more than one million Russian clients.


http://www.citigroup.com/citi/about/countrypresence/russia.html

1917

Event Date Historical Event 
1917-04-25 FIRST NATIONAL CITY BANK OF NEW YORK located at NEW YORK, NY was established as a National Bank. 
1962-01-19 FIRST NATIONAL CITY BANK OF NEW YORK was renamed to FIRST NATIONAL CITY BANK. 
1976-03-01 FIRST NATIONAL CITY BANK was renamed to CITIBANK, N.A. and moved to 5 WALL STREET NEW YORK, NY. 
1978-12-30 CITIBANK, N.A. moved to 55 WALL STREET NEW YORK, NY. 
1990-07-05 CITIBANK, N.A. moved to 399 PARK AVENUE NEW YORK, NY. 
2006-10-01 CITIBANK, N.A. moved to 3900 PARADISE ROAD, SUITE 127 LAS VEGAS, NV. 
2011-07-01 CITIBANK, N.A. moved to 701 EAST 60TH STREET NORTH SIOUX FALLS, SD. 
http://www.ffiec.gov/nicpubweb/nicweb/InstitutionHistory.aspx?parID_RSSD=476810&parDT_END=99991231 
 

Long Island National Bank
1917 Established Long Island National Bank of Hicksville
01/01/1962 Name Change To Long Island National Bank
09/08/1976 Convert State Long Island Bank
09/30/1980 Merge To State Long Island Trust Company
05/01/1982 Convert Federal Long Island Trust Company, N.A.
02/18/1987 Merge To State Bank of New York, The (9/1922-10/1989)
10/06/1989 Merge To State Irving Trust Company
10/06/1989 Name Change To Bank of New York, The 
http://www.scripophily.com/nybankhistoryl.htm

FIRST NATIONAL CITY BANK OF NEW YORK

Mercantile Trust Company
1917 Established Mercantile Trust and Deposit Company
05/01/1919 Name Change To Mercantile Trust Company
02/01/1922 Convert Federal Mercantile National Bank in New York
03/01/1922 Acquire By Merger Seaboard Natl Bnk of the City of NY (1885-3/1922)
03/01/1922 Name Change To Seaboard Natl Bank of the City of NY (3/22-6/29)
01/01/1928 Acquire By Merger New Netherland Bank of New York
06/01/1929 Converted To Seaboard Bank of the City of New York
09/01/1929 Merge To State Equitable Trust Company of New York (1871-5/1930)
05/01/1930 Merge To Federal Chase National Bank of the City of New York
03/01/1955 Merge To State President and Directors of the Manhattan Company
03/01/1955 Name Change To Chase Manhattan Bank, The (1799-9/1965)
09/01/1965 Convert Federal Chase Manhattan Bank, N.A., The
07/14/1996 Merge To State Chemical Bank
07/14/1996 Name Change To Chase Manhattan Bank, The
11/13/2004 Convert Federal JPMorgan Chase Bank, National Association                                                                                           http://www.dfs.ny.gov/about/histm.txt

Citi's history in Russia began almost 100 years ago and is closely tied to the dramatic events that unfolded during that period of the country's history. Citi has always acted as a unifying link between the Russian economy and other world economies and played an important role in the development of the country's trade and external economic relations.

Citi first entered Russia on the eve of the Revolution. In 1916, Citi, then-called National City Bank (NCB), underwrote bonds to support the government of the Russian Empire as World War I took its toll on the country's resources. Believing that Russia would soon emerge from the war and embark on a period of rapid economic development, NCB executives established a branch in Petrograd on January 15, 1917. Just two months later, the tsar was forced to abdicate, and a new, liberal government took power. Even as the battles raged in the streets of Petrograd, the bank established a new branch in Moscow in November. By December, the new Bolshevik government had taken control of the major cities of European Russia. On February 3, 1919, the bank established a branch in the city of Vladivostok in the Far East, a meeting point for retreating soldiers and refugees. On March 13, 1920, all three branches were closed.

Between 1920 and 1970, diplomatic and economic challenges – followed by WWII and then the Cold War – prevented the bank from re-entering the country. In the 1970s, however, during the period of détente, U.S.-Soviet trade increased, and there was greater contact between the two countries. In June 1973, the Soviet government gave Citi permission to establish a limited presence in the U.S.S.R., and, in 1974, the bank opened a representative office in Moscow on Karl Marx Avenue. Six years later, with the onset of the Afghanistan War and increasing tensions between the East and the West, the office was shut down. In 1992, following the collapse of the Soviet Union and emergence of the Russian Federation on the global marketplace, Citi once again had the opportunity to open a representative office in Moscow.

Having opened its office on October 1, 1992, by November 1, 1993, the bank had received all the necessary licenses to provide banking services in the Russian Federation, thus becoming one of the first international banks to enter the Russian market. In January 1994, Citi was inaugurated as a financial institution focused on corporate banking services, financing and trade. In 1995, Citi advised Mosenergo – the largest generating company operating on fossil fuel in Russia – on the first-ever ADR issue by a Russian company. It was Citi Russia's first major deal after its opening. On February 7, 1996, the bank opened a branch in St. Petersburg. Citi engaged in business and development financing for government bodies and a wide spectrum of corporate clients.

In 1998, Russia was hit by a financial crisis; although many other international banks left, Citi remained. As a result, Citi Russia became stronger and greatly expanded its presence in the Russian market. In November 2002, the bank launched a retail banking business and began to expand its presence with new branches and sales centers. By 2010, Citi's retail operations in Russia were serving more than one million Russian clients.

http://www.citigroup.com/citi/about/countrypresence/russia.html

1918

1918: As a wartime measure, the U.S. government nationalizes Wells Fargo's express franchise into a federal agency known as the U.S. Railway Express Agency (REA). The government takes control of the express company. The bank begins rebuilding but with a focus on commercial markets. After the war, REA is privatized and continues service.

1919

James A. Stillman - 1919-1921 president of City Bank of New York (National City Bank after 1865 - telegraph lines referred to it as "Citibank")

American Trust Company (1919-11/1930)
1919 Established American Trust Company (1919-11/1930)
1919 Acquire By Merger Queens County Trust Company
11/01/1930 Merge To State Bank of Manhattan Trust Company
11/01/1932 Merge To State President and Directors of the Manhattan Company
03/01/1955 Name Change To Chase Manhattan Bank, The (1799-9/1965)
09/01/1965 Convert Federal Chase Manhattan Bank, N.A., The
07/14/1996 Merge To State Chemical Bank
07/14/1996 Name Change To Chase Manhattan Bank, The
11/13/2004 Convert Federal JPMorgan Chase Bank, National Association

http://www.scripophily.com/nybankhistorya.htm

At the intersection of Field and Grand Streets in Waterbury is the former Waterbury National Bank Building, now the headquarters for Junior Achievement of Southwestern New England. Built in 1919-1922. The Chase family had a long association with the Waterbury National Bank, which was founded in 1848 and was Waterbury’s first bank. The Bank’s original building was located at Grand and Bank Streets, giving the latter thoroughfare its name. Henry S. Chase intended the new bank building to be part of his plan for an impressive Waterbury municipal center. Henry died in 1918 and his brother Irving Chase assumed management of construction, utilizing Cass Gilbert, the same architect who had designed the Chase Brass and Copper Company’s headquarters, also located on Grand Street. http://historicbuildingsct.com/?p=6906    

Citi has had a presence in Spain since 1919 and was one of the first foreign banks to establish an office in the country. In 1983, Citi acquired Banco de Levante (Citibank España, sold to Banco Popular in 2014). Salomon Brothers opened its first office in Madrid in 1988, and Schroders established its Spanish headquarters in Madrid in 1990. In 1997, Smith Barney merged with Salomon Inc. to form Salomon Smith Barney. Citi merged Salomon Smith Barney with Schroders Plc in 2000, creating a leading pan-European investment bank. The Barcelona Service Centre opened in 1999 to provide operational support as well as sales services to Citi's consumer businesses across several European countries in different languages.
http://www.citigroup.com/citi/about/countrypresence/spain.html

Citi has had a presence in Belgium since 1919 and opened its headquarters in Brussels in 1962. In 1969, Citibank took over Crédivit Bank and Financia Bank. Crédivit merged with Financia to form Famibank in 1977. After taking over Banque Copine and Banque Sud Belge, Banque Sud Belge merged with Famibank, creating Citibank Belgium in 1992. In 2012 the Citibank consumer franchise was sold to Credit Mutel Nord Europe. http://www.citigroup.com/citi/about/countrypresence/belgium.html

Citi's history in Russia began almost 100 years ago and is closely tied to the dramatic events that unfolded during that period of the country's history. Citi has always acted as a unifying link between the Russian economy and other world economies and played an important role in the development of the country's trade and external economic relations.

Citi first entered Russia on the eve of the Revolution. In 1916, Citi, then-called National City Bank (NCB), underwrote bonds to support the government of the Russian Empire as World War I took its toll on the country's resources. Believing that Russia would soon emerge from the war and embark on a period of rapid economic development, NCB executives established a branch in Petrograd on January 15, 1917. Just two months later, the tsar was forced to abdicate, and a new, liberal government took power. Even as the battles raged in the streets of Petrograd, the bank established a new branch in Moscow in November. By December, the new Bolshevik government had taken control of the major cities of European Russia. On February 3, 1919, the bank established a branch in the city of Vladivostok in the Far East, a meeting point for retreating soldiers and refugees. On March 13, 1920, all three branches were closed.

Between 1920 and 1970, diplomatic and economic challenges – followed by WWII and then the Cold War – prevented the bank from re-entering the country. In the 1970s, however, during the period of détente, U.S.-Soviet trade increased, and there was greater contact between the two countries. In June 1973, the Soviet government gave Citi permission to establish a limited presence in the U.S.S.R., and, in 1974, the bank opened a representative office in Moscow on Karl Marx Avenue. Six years later, with the onset of the Afghanistan War and increasing tensions between the East and the West, the office was shut down. In 1992, following the collapse of the Soviet Union and emergence of the Russian Federation on the global marketplace, Citi once again had the opportunity to open a representative office in Moscow.

Having opened its office on October 1, 1992, by November 1, 1993, the bank had received all the necessary licenses to provide banking services in the Russian Federation, thus becoming one of the first international banks to enter the Russian market. In January 1994, Citi was inaugurated as a financial institution focused on corporate banking services, financing and trade. In 1995, Citi advised Mosenergo – the largest generating company operating on fossil fuel in Russia – on the first-ever ADR issue by a Russian company. It was Citi Russia's first major deal after its opening. On February 7, 1996, the bank opened a branch in St. Petersburg. Citi engaged in business and development financing for government bodies and a wide spectrum of corporate clients.

In 1998, Russia was hit by a financial crisis; although many other international banks left, Citi remained. As a result, Citi Russia became stronger and greatly expanded its presence in the Russian market. In November 2002, the bank launched a retail banking business and began to expand its presence with new branches and sales centers. By 2010, Citi's retail operations in Russia were serving more than one million Russian clients.
http://www.citigroup.com/citi/about/countrypresence/russia.html

 1920

Carter Glass
Senator, US Senate, 1920–1946
Member, Federal Reserve Board, 1918–1920
Representative, US House of Representatives, 1902–1918
Born: January 4, 1858
Died: May 28, 1946
Known as a champion and a co-founder of the Federal Reserve, Carter Glass was a Virginia state senator (1899-1903), an eight-term US representative (1902-1918), the US Treasury secretary (1918-1920), and a four-term US senator (1920-1946). Under the provisions of the original Federal Reserve Act, the Treasury secretary was also ex-officio chairman of the Federal Reserve Board.

Glass was born in 1858 in Lynchburg, Virginia, to a well-known newspaper family. He received limited schooling, and became an apprentice printer to his father at age thirteen. Much of Glass’ early career was spent in the newspaper industry, where he worked his way up from reporter to editor, to publisher and finally, owner of the Lynchburg Daily News and the Daily Republican. He continued to buy out his competitors and eventually became the only publisher in town. Mostly self-taught, Glass had an appetite for academic study and was well versed in classical literature and history.

In 1896, Glass attended the Democratic National Convention, where he heard William Jennings Bryan speak. The experience of the convention ignited Glass’ interest in politics. His public service began as the Lynchburg city clerk. He actively participated in local, state, and national politics, and used his position as an editor and publisher to endorse political candidates. His service and outspoken support of Democrats led to his selection as a state delegate to the party’s 1896 Democratic National Convention.

Elected to the US Congress in 1902, Glass focused his efforts on securing a position on the House Banking and Currency Committee, and within two years, he had achieved his goal. At five feet four inches tall, Glass made up for his lack of size with an incredible drive and an avid curiosity to learn everything about banking and finance.

Following the Banking Panic of 1907, Glass worked fervently on financial legislation to reform the banking system. In 1913 as chairman of the Banking and Currency Committee, he worked with Senator Robert Owen (D-OK) and President Woodrow Wilson to pass the Federal Reserve Act.

In 1918, President Wilson appointed Glass to lead the Treasury, succeeding William Gibbs McAdoo. Two years later, he was appointed to the US Senate to fill the vacancy created by the death of fellow Virginian Thomas Staples Martin.

Along with the passage of the Federal Reserve Act, Glass’ most notable achievements include work toward the passage of the Banking Act of 1932, the Banking Act of 1933 (commonly called the Glass-Steagall Act), and the Banking Act of 1935. These acts established the Federal Reserve System, separated commercial and investment banking, created the Federal Deposit Insurance Corporation, formed the Federal Open Market Committee (the Federal Reserve’s chief monetary policymaking body), and enhanced Federal Reserve independence through the removal of the Comptroller of the Currency and the Treasury Secretary from the Federal Reserve Board.

In 1933, Glass became chairman of the Senate Appropriations Committee, and from 1941 to 1945 he was president pro tempore of the Senate.

As a principal contributor to the Federal Reserve Act of 1913, Glass advocated for a decentralized central banking system. His influence is reflected in the current structure of the Federal Reserve System, which consists of twelve regional Reserve Banks and the Board of Governors in Washington, DC.

Glass was married for fifty-four years to Aurelia Caldwell. They had four children. Widowed in 1937, Glass married his second wife, Mary Scott, in 1940. He died in 1946.

Written by the Federal Reserve Bank of Richmond. See disclaimer.
https://www.federalreservehistory.org/people/carter_glass

New York Commercial Bank traces its roots to the mid 1920s, when our Atlantic Bank division was established to meet the needs of consumers and small businesses in the city of New York. Today, New York Commercial Bank has 30 branches, including 18 that operate under the name Atlantic Bank.  https://www.mynycb.com/Pages/AboutUs.aspx

Barclays invests in William Morris, helping him to become the biggest UK car manufacturer  http://www.timeline.barclays.com/content/1690/The-start-of-Barclays.html 

Citi's history in Russia began almost 100 years ago and is closely tied to the dramatic events that unfolded during that period of the country's history. Citi has always acted as a unifying link between the Russian economy and other world economies and played an important role in the development of the country's trade and external economic relations.

Citi first entered Russia on the eve of the Revolution. In 1916, Citi, then-called National City Bank (NCB), underwrote bonds to support the government of the Russian Empire as World War I took its toll on the country's resources. Believing that Russia would soon emerge from the war and embark on a period of rapid economic development, NCB executives established a branch in Petrograd on January 15, 1917. Just two months later, the tsar was forced to abdicate, and a new, liberal government took power. Even as the battles raged in the streets of Petrograd, the bank established a new branch in Moscow in November. By December, the new Bolshevik government had taken control of the major cities of European Russia. On February 3, 1919, the bank established a branch in the city of Vladivostok in the Far East, a meeting point for retreating soldiers and refugees. On March 13, 1920, all three branches were closed.

Between 1920 and 1970, diplomatic and economic challenges – followed by WWII and then the Cold War – prevented the bank from re-entering the country. In the 1970s, however, during the period of détente, U.S.-Soviet trade increased, and there was greater contact between the two countries. In June 1973, the Soviet government gave Citi permission to establish a limited presence in the U.S.S.R., and, in 1974, the bank opened a representative office in Moscow on Karl Marx Avenue. Six years later, with the onset of the Afghanistan War and increasing tensions between the East and the West, the office was shut down. In 1992, following the collapse of the Soviet Union and emergence of the Russian Federation on the global marketplace, Citi once again had the opportunity to open a representative office in Moscow.

Having opened its office on October 1, 1992, by November 1, 1993, the bank had received all the necessary licenses to provide banking services in the Russian Federation, thus becoming one of the first international banks to enter the Russian market. In January 1994, Citi was inaugurated as a financial institution focused on corporate banking services, financing and trade. In 1995, Citi advised Mosenergo – the largest generating company operating on fossil fuel in Russia – on the first-ever ADR issue by a Russian company. It was Citi Russia's first major deal after its opening. On February 7, 1996, the bank opened a branch in St. Petersburg. Citi engaged in business and development financing for government bodies and a wide spectrum of corporate clients.

In 1998, Russia was hit by a financial crisis; although many other international banks left, Citi remained. As a result, Citi Russia became stronger and greatly expanded its presence in the Russian market. In November 2002, the bank launched a retail banking business and began to expand its presence with new branches and sales centers. By 2010, Citi's retail operations in Russia were serving more than one million Russian clients.
http://www.citigroup.com/citi/about/countrypresence/russia.html
 

1921

Charles E. Mitchell - 1921-1929 president of City Bank of New York (National City Bank after 1865 - telegraph lines referred to it as "Citibank")

Andrew W. Mellon
Member, Federal Reserve Board, 1921–1932
Born: March 24, 1855
Died: August 26, 1937
Andrew W. Mellon served as secretary of the Treasury from March 4, 1921, to February 12, 1932. Under the provisions of the original Federal Reserve Act, this meant he was also ex-officio chairman of the Federal Reserve Board.

Mellon was born in Pittsburgh, Pennsylvania, in 1855. He graduated from the Western University of Pennsylvania in 1873. In 1874, he joined his father’s banking firm, T. Mellon & Sons' Bank , and in 1882 his father transferred bank ownership to Mellon.

Mellon began expanding his firm into industrial fields such as aluminum, steel, oil, coal, and coke by providing capital for corporations. Mellon’s financial backing led to the creation of the Aluminum Company of America and the Gulf Oil Company. He also helped found the Union Steel company, which eventually merged with United States Steel Corporation. In 1889, Mellon helped organize the Union Trust Company and Union Savings Bank of Pittsburgh. By the 1920s, Mellon was one of the wealthiest men in the United States.

In 1921, President Warren G. Harding appointed Mellon to lead the Treasury. He was tasked with reducing the large federal debt that resulted from World War I. Mellon sought to increase revenue by lowering tax rates in the hopes of both stimulating economic activity as well as increasing overall tax revenue by encouraging more people to actually pay their taxes. His plan cut taxes across the board and was enacted by Congress in the Revenue Acts of 1921, 1924, and 1926. The top marginal tax rate fell from 73 percent in 1922 to 24 percent in 1929. Mellon’s policies proved effective in lowering the national debt, but the onset of the Great Depression caused the debt to rise again, and the top tax rate increased to 80 percent.

As an ex-officio member to the Federal Reserve Board, Mellon favored interest rate hikes to help curtail speculation in 1929 and was against stimulus packages. As the economy failed, Mellon’s critics called for his ousting. In 1932, he resigned from the Treasury amidst accusations of improper business ties and impeachment proceedings. He was appointed ambassador to England, a post he held from 1932 to 1933.

Mellon was an avid collector of art and in 1937 he donated $10 million to construct the National Gallery of Art in Washington, DC He also founded the Mellon Institute of Industrial Research with his brother in 1913, which later became Carnegie Mellon University.
Mellon died in 1937.
Written by the Board of Governors of the Federal Reserve System. See disclaimer.         https://www.federalreservehistory.org/people/andrew_w_mellon

1923

Food For Thought
In 1923, a very important meeting was held at the Edgewater Beach Hotel in Chicago. Attending this meeting were nine of the world’s most successful financiers. Those present were:

Charles Schwab, President of the largest independent steel company (Bethlehem Steel).
Samuel Insull, President of the largest utility company (Edison General Electric).
Howard Hobson, President of the largest gas company (Associated Gas & Electric System)
Arthur Cutten, The great wheat speculator.
Richard Whitney, President of the New York Stock Exchange.
Albert Fall, A member of President Hoover’s Cabinet.
Jesse Livermore, The greatest “bear” on Wall Street.
Ivar Kreuger, Financier and head of the world’s greatest monopoly (The “Match King”).
Leon Fraser, President of the First National Bank of New York and the Bank of International Settlements.
http://www.barbaragoldsmith.com/what_the_richest_men_in_the_world_don_t_know_78754.htm

In 1923 a very important meeting was held at the Edgewater Beach Hotel in Chicago. Attending this meeting were nine of the world’s most successful financiers: Charles Schwab, steel magnate; Samuel Insull, president of the largest utility company; Howard Hopson, president of the largest gas company; Arthur Cotton, the greatest wheat speculator, Richard Whitney, president of the New York Stock Exchange; Albert Fall, a member of the President’s Cabinet; Leon Fraser, president of the Bank of International Settlements; Jesse Livermore, the great “bear” on Wall Street; and Ivar Krueger, head of the most powerful monopoly.
https://homeword.com/devotionals/something-was-missing/#.WYNL47jVor0

1923: Wells Fargo Nevada merges with the Union Trust Company to form the Wells Fargo Bank & Union Trust Company.

--------------

At the turn of the century the bank's leadership changed hands. The bank began to falter under the direction of Joseph B. Martindale. By 1917 it was no longer among the top 100 banks in the country. The bank rebounded after Martindale's death, and by 1919 its stock had increased to almost $200 a share. In 1923 Chemical Bank established its first branch bank. http://www.library.hbs.edu/hc/lehman/chrono.html?company=chemical_new_york_corp

C.I.T. Corporation
09/17/1923 NYS Chartered Pierce-Arrow Finance Corporation
10/28/1929 Name Change To C.I.T. Finance Corporation
02/14/1930 Name Change To Commercial Inveatment Trust Ltd.
12/30/1942 Name Change To C.I.T. Financial Corporation
04/26/1945 Name Change To C.I.T. Corporation
04/29/1986 Name Change To CIT Group/Equipment Financing, Inc.
11/30/2000 Closed  http://www.dfs.ny.gov/about/histc.txt

C.I.T. Finance Corporation
09/17/1923 NYS Chartered Pierce-Arrow Finance Corporation
10/28/1929 Name Change To C.I.T. Finance Corporation
02/14/1930 Name Change To Commercial Inveatment Trust Ltd.
12/30/1942 Name Change To C.I.T. Financial Corporation
04/26/1945 Name Change To C.I.T. Corporation
04/29/1986 Name Change To CIT Group/Equipment Financing, Inc.
11/30/2000 Closed  http://www.dfs.ny.gov/about/histc.txt

C.I.T. Financial Corporation
09/17/1923 NYS Chartered Pierce-Arrow Finance Corporation
10/28/1929 Name Change To C.I.T. Finance Corporation
02/14/1930 Name Change To Commercial Inveatment Trust Ltd.
12/30/1942 Name Change To C.I.T. Financial Corporation
04/26/1945 Name Change To C.I.T. Corporation
04/29/1986 Name Change To CIT Group/Equipment Financing, Inc.
11/30/2000 Closed   http://www.dfs.ny.gov/about/histc.txt

Camillus Bank
1923 Established Camillus Bank
12/01/1958 Merge To State Marine Midland Trust Company of Central New York
01/29/1971 Name Change To Marine Midland Bank - Central
01/01/1976 Merge To State Marine Midland Bank (12/75-2/80)
02/01/1980 Convert Federal Marine Midland Bank, N.A.
12/31/1993 Convert State Marine Midland Bank
03/29/1999 Name Change To HSBC Bank USA
12/31/1999 Merge To State Republic Bank of New York
12/31/1999 Name Change To HSBC Bank USA
06/30/2004 Convert Federal HSBC Bank USA   http://www.dfs.ny.gov/about/histc.txt

1924

1/1/1924 Roosevelt Federal Savings and Loan Association (28389)was established. http://research.fdic.gov 
 

1925

Barclays Bank D.C.O. is established with over 1,350 offices across 41 countries. http://www.timeline.barclays.com/content/1690/The-start-of-Barclays.html

1925- Deposit Guaranty National Bank in Jackson, Mississippi 
FDIC Certificate #: 9784
Status: Inactive
Closing history: Merger - Without Assistance
Acquiring institution: First American National Bank (#4956)
Federal Reserve ID: 400637
Date Established: June 15, 1925
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 160 (Interstate: No)
OTS Docket #: 14697
FDIC's unique #: 6265
Numeric code: 3
Regulator: OCC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
Oakar Institutions: Yes
State Chartered: No
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: September 01, 1998
Last Structure Change Process Date: September 23, 1998
Last Data Update: September 23, 1998
Data Source Date: April 05, 2012
Location
Address: 210 East Capitol Street, Jackson, MS 39205
County: Hinds
Quarterly Banking Profile Region: Dallas
FDIC Geographic Region: Dallas
FDIC Supervisory Region: Dallas
FDIC Field Office: Jackson Ms
Office of the Comptroller the Currency (OCC) District: Southwest
Office of Thrift Supervision Region: West
Metropolitan Statistical Area (MSA): Jackson, MS (#3560)
Combined Statistical Area (CSA): Jackson-Yazoo City, MS (#298)
Core Based Statistical Area (CBSA): Jackson, MS (#27140)
CBSA Metro Statistical Area: Jackson, MS (#27140)
Financial Summary
Total assets: $7,289.4 mil

Read more: 
http://www.bankencyclopedia.com/Deposit-Guaranty-National-Bank-9784-Jackson-Mississippi.html#ixzz4I68TycVl 

http://www.bankencyclopedia.com/Deposit-Guaranty-National-Bank-9784-Jackson-Mississippi.html

 

THE UNITED STATES CORPORATION COMPANY

Note: Corporate documents for The United States Corporation are on file in the State of Florida.  Sunbiz.org 

1925: Central Union Trust Co. (a predecessor firm) opens a representative office. The office becomes a full service branch in 1938. https://www.jpmorgan.com/pages/jpmorgan/emea/uk/about/history 


1926

Citi has had a presence in Germany since 1926 when the City Bank of New York opened its first office in Berlin. This office was a precursor to today's Institutional Clients Group (ICG) business, located in Frankfurt. http://www.citigroup.com/citi/about/countrypresence/germany.html

In 1926 the Bank of Charleston merged with local banks in Greenville and Columbia to form the South Carolina National Bank, which will be absorbed by Wachovia in the mid-1990s.  
http://www.nps.gov/nr/travel/charleston/sbc.htm

Long Island National Bank of New York
1926 Established Long Island National Bank of New York
1931 Merge To Federal National City Bank of New York
03/01/1955 Name Change To First National City Bank of New York
01/01/1962 Name Change To First National City Bank
1976 Name Change To Citibank, N.A.
http://www.scripophily.com/nybankhistoryl.htm

1927

Ogden Livingston Mills was appointed in 1927, by the President Calvin Coolidge as the Undersecretary of the Treasury, serving under Secretary Andrew W. Mellon.

In September 1927, President Coolidge appointed Roy A.Young as governor of the Federal Reserve Board in Washington, DC, and Young served as chairman during the stock market crash of 1929 and the early days of the Great Depression. https://www.federalreservehistory.org/people/roy_a_young 

1927: The Dillon, Read & Co. bank places a $ 25 million bond by Deutsche Bank on the American market.  https://www.db.com/usa/content/en/Chronicles.html 

Guaranty Trust Company, a predecessor firm of J.P. Morgan, pioneers the concept of American Depositary Receipts (ADRs), which enables Americans to invest in foreign securities directly on U.S. exchanges.  https://www.jpmorgan.com/pages/company-history

 

1928

From 1928 to 1946, the $10,000 bill was printed and circulated with Salmon Chase's face on it. http://www.philstockworld.com/tag/10000-bill/ 

 In 1928,Amadeo Peter Giannini, called "America's banker," put his banks into a giant holding company he called Transamerica Corporation, reflecting his new ambition. http://www.pbs.org/wgbh/theymadeamerica/whomade/giannini_hi.html

1929

Gordon S. Rentschler - 1929-1940 president of City Bank of New York (National City Bank after 1865 - telegraph lines referred to it as "Citibank")

1929: Northwest Bancorporation is formed as a banking association.

Albert Gordon , helps pick up the pieces of a shattered Kidder Peabody after the 1929 Wall Street crash.

Two Ohio institutions merge to form City National Bank & Trust, a predecessor of Bank One.    https://www.jpmorgan.com/pages/company-history

The company[Chemical National Bank of New York ]  was reincorporated as a state bank in 1929 under the name Chemical Bank & Trust Company. That same year, the company merged with the United States Mortgage & Trust Company. Also in 1929, Chemical established two affiliates, Chemical National Company, Inc., to buy, sell, and underwrite securities, and Chemical National Association, Inc., to act as a holding company. The two affiliates were merged into the bank during the Depression.                                   http://www.library.hbs.edu/hc/lehman/chrono.html?company=chemical_new_york_corp

Seattle was rapidly growing and so was the demand for capital. Bankers realized they would have to consolidate to meet the demand, so by 1929, Seattle saw the formation of what the Seattle Post-Intelligencer called a "Giant New Superbank." The superbank consolidated three of Seattle's four major banks at the time: Dexter Horton, Seattle National and First National into what they called First Seattle Dexter Horton National Bank. The unwieldy name was eventually changed to First National Bank of Seattle and then later to Seafirst Bank, Bank of America's oldest heritage bank in Seattle.
https://about.bankofamerica.com/en-us/our-story/seattles-first-banker.html#fbid=JPJ-Fg1G9yi

1930

Foundation of the BIS
  The Bank for International Settlements (BIS) was created in the context of the Young Plan, adopted on 20 January 1930 at the Hague Conference. A convention respecting the establishment of the BIS in Switzerland was signed on the same date between the governments of Belgium, France, Germany, Italy, Japan and the United Kingdom on the one hand and Switzerland on the other.
https://www.bis.org/about/history_1foundation.htm  NOTE: The United States was not among the members.

Banking with hitler
williamwallace
Uploaded on Feb 16, 2006
Shocking.
https://www.youtube.com/watch?v=YauM5dHLn1s&feature=youtu.be

https://youtu.be/YauM5dHLn1s

The Bank for International Settlements (BIS) was established as an international financial
institution, enjoying special immunities, pursuant to the Hague Agreements of 20th January 1930.

The founder shareholding members were the central banks of Belgium, France, Germany, Italy,
Japan, the United Kingdom and the United States (the Federal Reserve did not take up its rights as
founder member until 1994).

Within two years of its founding, nineteen other European central
banks had subscribed to the Bank's capital. The Bank opened its doors in Basle, Switzerland on
17th May 1930. http://www.bis.org/publ/bisp02a.pdf

American Express Bank and Trust Company
04/08/1930 NYS Chartered American Express Bank and Trust Company
12/01/1931 Merge To State Equitable Trust Company of New York (1930-6/1937)
12/01/1931 Bnk Business To Chase National Bank of the City of New York
06/01/1937 Merge To State Manufacturers Trust Company
09/08/1961 Name Change To Manufacturers Hanover Trust Company
06/19/1992 Merge To State Chemical Bank
07/14/1996 Name Change To Chase Manhattan Bank, The
11/13/2004 Convert Federal JPMorgan Chase Bank, National Association
http://www.scripophily.com/nybankhistorya.htm

Established on 17 May 1930, the Bank for International Settlements (BIS) is the world's oldest international financial organization. The BIS has 60 member central banks, representing countries from around the world that together make up about 95% of world GDP. 

The head office is in Basel, Switzerland and there are two representative offices: in the Hong Kong Special Administrative Region of the People's Republic of China and in Mexico City. http://www.bis.org/about/index.htm 
 

In 1930, Amadeo Peter Giannini formed the Bank of America, which would eventually become the largest in the United States.As a measure of its success, it withstood the Great Depression, funding large industrial and agricultural interests as well as California's burgeoning movie industry and even the Golden Gate Bridge. http://www.pbs.org/wgbh/theymadeamerica/whomade/giannini_hi.html

Eugene I. Meyer
Governor, Federal Reserve Board, 1930–1933
Born: October 31, 1875
Died: July 17, 1959
Eugene Isaac Meyer was chairman (called “governor” before 1935) of the Federal Reserve Board from September 16, 1930, to May 10, 1933.

Meyer was born in Los Angeles, California, in 1875. He received his bachelor’s degree and a doctorate in law from Yale University.

In 1901, Meyer formed the brokerage firm Eugene Meyer Jr. and Co. His firm became increasingly focused on investment banking, and Meyer also became interested in the railroad, oil, copper, and automotive industries.

Meyer first entered government service in 1917 when he assisted the Committee on Raw Materials with the acquisition of an abundance of copper for the armed forces. In 1918, President Wilson appointed Meyer the director of War Finance Corporation, where he served until 1920 when its activities were suspended. President Calvin Coolidge appointed him a member of the Federal Farm Loan Board in 1927. He resigned from this position in 1929 and was appointed to lead the Federal Reserve Board by President Hoover the following year.

As chairman, Meyer supported open market purchases and pushed for reform of the banking system, which involved a unified commercial banking system that only allowed for nationally chartered banks. He also favored government intervention, such as buying surplus cotton to help cotton prices.

After leaving the Federal Reserve Board, Meyer became the publisher of the Washington Post, serving in different positions for the newspaper company until his death in 1959.
Written by the Board of Governors of the Federal Reserve System. See disclaimer.
https://www.federalreservehistory.org/people/eugene_i_meyer

1932

Reconstruction Finance Corporation Act, approved January 22, 1932

1932 – First Boston Corporation
The First Boston Corporation is founded as a subsidiary of The First National Bank of Boston. In 1934 the First Boston Corporation becomes the first publicly held investment bank in the US.  https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html

Ogden Mills
Member, Federal Reserve Board, 1932–1933
Born: August 23, 1884
Died: October 11, 1937
Ogden L. Mills was secretary of the Treasury from February 12, 1932, until March 5, 1933. Under the provisions of the original Federal Reserve Act, the Treasury secretary was ex-officio chairman of the Federal Reserve Board.

Mills was born in 1884 in Newport, Rhode Island. He graduated from Harvard University in 1904 and Harvard Law School in 1907. Mills became active in Republican Party politics in New York and was a delegate to the Republican National Conventions in 1912, 1916, and 1920. He ran unsuccessfully for Congress in 1912 but won election to the New York state senate in 1914. He resigned in 1917 to enlist in the US Army. During World War I, he served as a captain.

In 1921, Mills won election to Congress and remained in the US House of Representatives for three terms. In 1926, he ran on the Republican ticket for governor of New York but was defeated by incumbent Democrat Al Smith. In 1927, President Calvin Coolidge appointed him undersecretary of the Treasury, where he served under Andrew Mellon.

Toward the end of his term, Secretary Mellon spent much of his time overseas, and President Hoover grew to rely greatly on Mills, who served as acting secretary during Mellon's absences. Mills became Treasury secretary when Mellon resigned in February 1932. Mills continued the policies of his predecessor, recommending a drastic reduction in government spending and a tax increase in order to balance the budget by 1934. Mills resigned at the end of President Hoover's term in 1933.

After his time at the Treasury, Mills authored three books: What of Tomorrow? (1935), Liberalism Fights On (1936), and The Seventeen Million (1937). He was a member of the board of directors for several companies, including Lackawanna Steel Company; Atchison, Topeka, and Santa Fe Railway; Mergenthaler Linotype Company; and Shredded Wheat Company.

Mills died in New York City in 1937.

Written by the Board of Governors of the Federal Reserve System. See disclaimer.
https://www.federalreservehistory.org/people/ogden_mills

1933

Bank Conservation Act, approved March 9, 1933

National Industrial Recovery Act, approved June 16,1933 It gave the President the authority to create a banking corporation, be created pursuant to Title 5, Chapter 9, Section 261 of the Code of the District of Columbia, under the name of Export-Import Bank of Washington. http://www.presidency.ucsb.edu/ws/index.php?pid=14772#axzz1pBsWshWq

Securities Act of 1933

https://www.sec.gov/about/laws/sa33.pdf

The Mercantile Agency was founded in New York City in 1841; changed its name to R.G. Dun & Company after 1859; merged in 1933 with the Bradstreet Company to form the most widely known mercantile agency, Dun & Bradstreet, Inc. http://id.loc.gov/authorities/names/n86076622.html

Eugene R. Black
Governor, Federal Reserve Board, 1933–1934
Governor, FRB Atlanta, 1928–1933
Born: January 7, 1873
Died: December 19, 1934
Eugene R. Black was appointed chairman (called “governor” before 1935) of the Federal Reserve Board on May 19, 1933. He resigned August 15, 1934.

Black was born in Atlanta, Georgia, in 1873. He received his undergraduate degree from the University of Georgia and his law degree from Atlanta Law School.

After graduating from Atlanta Law School, Black practiced law and was appointed solicitor of Criminal Court of Atlanta in 1897. In 1901, he left law practice for a few years to act as general agent of the Prudential Insurance Company of America for the state of Georgia. He re-entered practice in 1904, joining McDaniel, Alston & Black. In 1921, he was elected president of Atlanta Trust Company.

After serving Atlanta Trust Company, Black held several positions within the Federal Reserve System. He was a Class A director of the Federal Reserve Bank of Atlanta, and he also served as governor of that district until he was appointed to the Federal Reserve Board.

As chairman of the Board during the Great Depression, Black supported policies to help restore confidence in the banking system. He believed the Federal Reserve should act as a lender of last resort to otherwise solvent banks in times of stress. He promoted legislation allowing Reserve Banks to make direct loans to industry and establishing the Reconstruction Finance Corporation. Under his leadership open market operations also resumed. The Fed thus used its ability to purchase and sell securities in the open market as a means to increase the flow of money and credit in the banking system. However, one policy Black opposed during his chairmanship was President Franklin Roosevelt’s call for the surrender of the Federal Reserve System’s gold to the US Treasury.

After leaving the Federal Reserve Board in August 1934, Black returned to his post as governor of the Atlanta Fed, where he served until his death later that year.
Written by the Board of Governors of the Federal Reserve System Federal Reserve Bank of Atlanta. See disclaimer.
https://www.federalreservehistory.org/people/eugene_r_black

John R. Fell Jr for many years a vice president of the Morgan Guaranty Trust Company and was deputy general manager of the bank's London   

1934

Securities Exchange Act of 1934

Franklin D. Roosevelt: signed "Executive Order 6581 Creating The Export-Import Bank of Washington.," on February 2, 1934  http://www.presidency.ucsb.edu/ws/index.php?pid=14772#axzz1pBsWshWq

Since 1934, the SEC has required disclosure in forms and documents. In 1984, EDGAR began collecting electronic documents to help investors get information. The SEC's new system requires data disclosure — the next step to improve how investors find and use information. 
http://www.sec.gov/edgar/searchedgar/webusers.htm#.VLxmWHTnb3g

1934 - Export-Import Bank of Washington Established The Export-Import Bank of Washington is established to help U.S. companies during the Great Depression. Although the goal was to lend to the Soviet Union, such loans never materialized. https://www.exim.gov/about/history-exim/historical-timeline

1934 - Second Export-Import Bank Established. The Second Export-Import Bank of Washington is established to lend to Cuba. In July, the lending authority was expanded to include “any part of the world except Russia.” George N. Peek is appointed by President Franklin D. Roosevelt to head the first and the second Export-Import Banks.

https://www.exim.gov/about/history-exim/historical-timeline

Marriner S. Eccles
Governor, Board of Governors, 1948–1951
Governor, Federal Reserve Board, 1934–1948
Born: September 9, 1890
Died: December 18, 1977
Marriner S. Eccles was appointed chairman (called “governor” before 1935) of the Federal Reserve Board on November 15, 1934. He resigned as chairman on January 31, 1948, and remained a Board member until July 14, 1951.

Eccles was born in Logan, Utah, in 1890. After attending Brigham Young College for his high school education, he traveled to Glasgow, Scotland, in 1910 to serve a mission for the Church of Jesus Christ of Latter-Day Saints. As a child, Eccles worked in several of his father’s businesses and, after his father’s death in 1912, took over the family’s business interests. He created a family holding company, the Eccles Investment Company, in 1916 to manage the various enterprises. By the mid-1920s, Eccles, his brother George, and the Browning family controlled seventeen banks in Utah, Idaho, and Wyoming, and organized the First Security Corporation, believed to be the first multibank holding company, to manage the fifteen banks and a savings and loan institution.

Eccles briefly served as assistant to the secretary of the Treasury, Henry Morgenthau Jr., before President Roosevelt appointed him to be the chairman of the Federal Reserve.

Before entering public service, Eccles gained national attention for successfully preventing the collapse of his bank in 1931. In 1933, Congress invited him to give his analysis of the Great Depression. In his testimony, he proposed a five-point program to fix the economy that formed the basis of the New Deal.

Eccles made a lasting impact on the organization of the Federal Reserve System. Early in his tenure on the Federal Reserve Board, he pushed for the restructuring of the Fed and was instrumental in drafting the Banking Act of 1935, which gave the Board centralized authority over the System. The act made other important structural changes. In particular, the act changed the name of the Federal Reserve Board to the Board of Governors of the Federal Reserve System and eliminated the ex-officio membership of the secretary of the Treasury and the comptroller of the currency on the Board. It reduced the number of Board members to seven, all appointive, and increased their terms to fourteen years. It also changed the names of the two Board executive officers from governor and vice governor to chairman and vice chairman, respectively. Further, the act restructured the Federal Open Market Committee (FOMC) so that members of the Board made up the majority of Committee members. Previously, the twelve Reserve Bank governors had served on the Committee.

Eccles played a role in two high-profile events as well. In 1944, he was the US delegate to the Bretton Woods Conference, which established an international monetary system that included fixed exchange rates. The conference also created the World Bank and International Monetary Fund. In addition, Eccles was a key player in the dispute between the Treasury and the Fed throughout the 1940s and early 1950s.

During World War II, the Fed had committed to maintaining a low interest rate peg on government bonds. This enabled the government to finance the war more cheaply, but it also limited the Fed’s control over monetary policy and credit availability. Rate pegging continued throughout the 1940s, resulting in rising inflation. After the Korean War began in 1950, the Fed sought to end rate pegging to combat inflationary pressures. The dispute came to a head in 1951, when President Truman falsely told the press that the FOMC had agreed to support the Treasury’s interest rate peg. In response, Eccles released the FOMC minutes that showed otherwise. The incident led to the Treasury-Fed Accord in March 1951. The agreement ended the Fed’s obligation to maintain the rate peg. It also gave the Fed dominance in setting monetary and credit policies and bolstered the central bank’s independence.

After his Fed service, Eccles returned to the banking business in Utah. He died in 1977. In 1982, the Federal Reserve Building in Washington, DC, was renamed in his honor.
Written by the Board of Governors of the Federal Reserve System. See disclaimer.
https://www.federalreservehistory.org/people/marriner_s_eccles

1935

HOOVER CHARGES ATTEMPT TO SET UP RULE LIKE EUROPE'S; He Accuses Roosevelt of Such Proposal After Conference With F.O. Lowden.
Permissions
Special to THE NEW YORK TIMES. ();
June 05, 1935,
, Section , Page 1, Column , words

[ DISPLAYING ABSTRACT ]

CHICAGO, June 4. -- Former President Herbert Hoover charged here today that the Roosevelt administration was proposing a "European form of government" for the United States.
http://query.nytimes.com/gst/abstract.html?res=9E00EED8173FE23ABC4D53DFB066838E629EDE&legacy=true

American trust and savings bank

1936

1936 - Banks Consolidated The Second Export-Import Bank is liquidated. Its loans and commitments are transferred to the Export-Import Bank of Washington.....     https://www.exim.gov/about/history-exim/historical-timeline

From The Anthology: From the Archives: International Institutions
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Essay April 1936 Issue FinanceGlobalization
The International Bank and Its Future
By Leon Fraser

A MEMBER of the Young Committee of 1929, which recommended the creation of a Bank for International Settlements, was asked what the Bank was going to do. "I don't know," he replied. "The important fact is that it exists. Unforeseen opportunities for service in the field of international finance will come to it as time unfolds. The conception is sound; the need is real; only the long future can answer your query."

In some measure this reply holds good today, for the Bank's greatest possibility of usefulness still lies ahead. While its past has been active and fruitful, any continuous, constructive development was necessarily arrested by the outbreak, in the Bank's very infancy, of a world-wide financial crisis. This exercised a cramping effect upon international relations generally, and upon all organizations designed to facilitate them. Yet the six years that have elapsed since the Bank was opened have indicated the direction in which it is to grow and the objects which it must serve. Americans have a primary interest in certain of those objects. It therefore may be opportune to review briefly the purposes for which the institution was created and its record to date in endeavoring to carry out those purposes; and also to state the fundamental task of high import which the Bank is prepared to undertake -- a task which it can probably fulfill with beneficent results to all countries, and especially to ours, if (and perhaps only if) the American monetary authorities determine to take advantage of its facilities, which are at their command.

When the Young Committee gave their reasons for constituting a new banking institution of an international character -- a proposal by no means novel -- they pointed out that the reparation problem on which they were working was primarily financial in its nature and involved the performance of banking functions at several points in the sequence between Germany's initial payments of the proposed annuities and the final distribution of the funds to the receiving Powers. It seemed to them logical, then, that this financial administration be confided to a non-political organization to be created under international sanction, and incidentally empowered to carry out other functions helpful to the world's financial well-being. The Committee said:

In the natural course of development, it is to be expected that the Bank will in time become an organization, not simply, or even predominantly, concerned with the handling of reparations, but also with furnishing to the world of international commerce and finance important facilities hitherto lacking. Especially it is to be hoped that it will become an increasingly close and valuable link in the coöperation of Central Banking institutions generally -- a coöperation essential to the continuing stability of the world's credit structure.

The truth may now be told. There was no imperative need to constitute a bank with a capital of 500,000,000 gold Swiss francs to be guided by a large Board of Directors, made up of all the Governors of the leading central banks of the world and of outstanding personalities appointed by them, who were directed to abandon their normal posts in order to meet at the seat of the Bank "at least ten times a year" -- all for the mere purpose of receiving and distributing the expected German annuities. Far larger payments than those contemplated had been regularly received and efficiently distributed by the Agent General for Reparation Payments, operating through a compact and economical organization. The truth was that the experts seized the occasion of the new reparation adjustment as an excuse to repair a long recognized gap in the international financial fabric. The organization which they proposed had functions not connected with reparations, and these ostensibly secondary functions were, in the inner consciousness of the originators, the predominating motives for its establishment. By some of the members -- in particular those connected with commercial banking -- the institution was envisaged as an instrument for opening up new fields of world trade by means of fresh extensions of credit. The German experts were especially favorable to this conception, because an increasing world commerce and more abundant credit would tend to lighten the reparation burden; whereas, if the Bank did not in fact contribute to such expansion, that eventuality would offer a basis which Germany could seize upon to reopen the reparation agreements, which she at no time considered just. While there was no unanimity about the opportuneness of creating more credit, all the experts agreed that the Bank could fill one obvious hiatus in the financial organization of the world, namely provide a center for central bank collaboration and for coöperation to improve the international monetary mechanism.

So it was that when the statutes of the institution came to be drafted in Baden-Baden the reparation functions were frankly relegated to second place. Article 3 stated:

The objects of the Bank are: to promote the coöperation of central banks and to provide additional facilities for international financial operations; and to act as trustee or agent in regard to international financial settlements entrusted to it under agreements with the parties concerned.

The statutes, which gave the Bank wide banking powers, but expressly forbade the issue of currency or the granting of any loans to governments, and precluded any participation of governments in the direction of the institution, were made international law by The Hague Treaties of 1930, and Swiss municipal law by an act of the Swiss Parliament in the same year. In each case unprecedented immunities from expropriation or seizure in times of peace or war were extended to the property and assets of the Bank, as well as to the deposits or gold entrusted to it. While formally created by governments, the institution was in fact a creature of central banks, because some twenty-four national banks of issue acquired nearly all its capital stock or exercised the shareholders' voting rights, and because the Governors of the central banks of the major countries were ex officio permanent members of the Board of Directors. The divorcement from diplomatic interference or government domination was complete. This independence gave the Bank freedom to deal with monetary and financial questions on their own intrinsic merits. In the same manner that politics were successfully excluded from the Bank's management, so, too, the Bank followed the usual custom of central banks by indulging in the least possible publicity. The absence of a press representative and the rather uncommunicative nature of the rare communiqués were the despair of journalists. Though in many respects this was highly useful, it also goes to explain, perhaps, why many popular errors about the institution prevail today. For example, in the United States it is erroneously imagined that the Bank had responsibilities, or major functions, in connection with the payment (or non-payment) of the war debts to America; or that it was only a reparation vehicle; or that there was some kind of organic affiliation between it and the League of Nations; or that participation in the Board of Directors on the part of the American monetary authorities, in order to maintain contact between the central banks and to benefit from the resultant exchange of information and counsel, might embroil us in European diplomacy. Everyone of these ideas is illusory. The Bank at Basle has no affiliation with the League of Nations or with any governmental organization; at no time was it charged with the collection, much less the payment, or the "international settlement," of the war debts to America -- a transfer problem upon which its attitude was always one of scientific objectivity; at no time has it permitted its deliberations or action to pass the proper scope of business and banking operations, nor has it at any time dabbled in diplomacy. The erstwhile reparation functions have long fallen into desuetude, and the revival of them, even on some attenuated scale, seems remote indeed.

What, then, have been the principal activities of the Bank, and whither is it tending today? Let us first summarize the reparation work. The institution opened May 17, 1930. One of its early corporate acts was to execute an agreement with the Creditor Powers pursuant to which it was to receive the graduated annuities payable by Germany in an average amount of 2,000,000,000 Reichsmarks, and distribute them according to an agreed schedule among the respective Powers. The Bank, as agent for certain Powers, was to "mobilize," as opportunity offered, some portions of the annuity -- that is to say, float public loans to be served and amortized by the annuity income. In June 1930 the German Government International 5½ percent Loan was placed upon nine national markets, the Bank acting as Trustee for the bondholders. The Bank also became fiscal agent for the trustees of the Dawes Loan and took over from the Agent General for Reparation Payments the funds remaining in his hands, as well as the fiscal management of "deliveries in kind," a system under which Germany met a part of its obligations by the delivery of commodities or the installation of public works. As compensation for services and as an inducement to secure subscriptions for the Bank's cumulative 6 percent capital stock, the Creditor Powers and Germany agreed to maintain "minimum deposits," without interest, equalling 230,000,000 Swiss gold francs. In addition, the Powers usually left with the Bank, at interest, part of the reparation funds received each month until such time as they were required to be withdrawn for their own interlocking war debt disbursements, or for payments to the United States.

A year had barely elapsed, during which the reparation machinery operated without a creak, before the catastrophic conditions which developed in Germany and Central Europe were publicly disclosed -- and indeed accelerated -- through the Hoover moratorium proposal of June 20, 1931. This in effect advised the suspension of the transfer of the German annuities (except so much thereof as was required for the service of outstanding international loans), and the postponement of all inter-governmental debts for a period of twelve months. Paradoxically enough, the Bank's greatest helpfulness in the reparation field began precisely when the payments were interrupted by economic events. Thanks to its business organization and its impartial attitude, it was able to serve as the focus for the international deliberations which ensued but which would have marched haltingly under the customary diplomatic procedure. A series of meetings at Basle quickly produced the first "Standstill Agreement" concerning the maintenance of short term bank credits in Germany, and the report of the Advisory Committee provided for by the Young Plan against the contingency of transfer difficulties. The Committee, emboldened by the growing chaos, went beyond its limited formal powers and recommended in substance a reconsideration of the whole reparation problem. "Inspired," it said, "by the principles laid down in the report of the Committee convoked by the Bank for International Settlements," the Lausanne Agreement of July 1932 brought an historic epoch to a close by the abrogation of practically all of the existing agreements concerning reparation payments, and by prolonging, in fact indefinitely, the provisions for suspension of transfer which were the outcome of the Hoover proposal. In consequence, the Bank received for only approximately a year of its existence the anticipated reparation payments; and its principal efforts in that connection related to their orderly interment. While the Lausanne Agreement did propose a mild substitute for the indemnity régime, and, of course, insisted upon the continued full service of all loans in the hands of the public, the German Government later determined (unfortunately for its good credit), to permit both the Dawes and Young loans to go into partial default and to effect their amended service outside of the Trustees. This final débâcle left the Bank without any vestiges of its reparation inheritance, except the non-interest-bearing minimum deposits which the governments had contracted to maintain and which continue to assure the institution's financial independence.

Long prior to these events, and indeed from the first moment of the Bank's existence, the management had pursued a conscious policy of subordinating its functions in connection with reparations to the more constructive tasks of promoting central bank coöperation and of providing new financial facilities. This work fell into three chronological periods, marked each by a different emphasis. The first period, that of organization and experimentation in new methods of central bank collaboration, terminated almost simultaneously with the crash of the Austrian Kredit-Anstalt in May 1931. The second, that of supplying emergency help and of adaptation to a rapidly changing world, opened with the advances promptly granted to the Austrian National Bank, and closed during the summer of 1932, when the Bank began publicly to stress the necessity of an improved international monetary standard and outlined the conditions precedent thereto. The third period, that of study and examination as how best the Bank could facilitate the smoother working of a restored monetary mechanism based on gold, began with the preparations for the ill-fated London Monetary and Economic Conference, and is still continuing. Through all three periods, of course, the Bank proceeded with its routine business operations as a central bank of central banks -- effecting clearings between them of their foreign exchange payments, receiving, holding and transferring gold, and granting seasonal credits to various banks of issue. Deposits from private banks or from individuals were never accepted, firstly, to avoid competition with existing private institutions, and secondly, to discourage efforts at hoarding.

During the first formative year the Bank had many aims in the monetary field. It endeavored, for example, to secure the concentration with it of the foreign exchange reserves of central banks. The aim here was to correct one of the worst evils of the "gold exchange standard," and to bring about the gradual establishment of what would amount to an International Foreign Exchange Equalization Fund, to regulate the international exchanges in somewhat the same way (though with broader objectives) that some national exchanges are now regulated by national stabilization funds. The Gold Exchange Standard -- propagated, but not invented, at Cannes -- had the great demerit of stimulating the pyramiding of credit and was one of the many factors contributing to the financial crisis. Perceiving this danger, and that it could be avoided by keeping these balances concentrated with central banks, where credit creation could be avoided or controlled, the Bank acquired about 1,000,000,000 Swiss francs (at the peak) of these reserves. It was preparing to use them, together with its paid-in capital and long term deposits, as an exchange stabilization fund, when forces supervened which were too powerful to be offset by such relatively feeble weapons.

But the threat presented by the uncontrolled short term balances of central banks was not the only fault in the international monetary situation which the Bank observed, and against which it raised storm signals before the collapse came. Essential to the coöperation of central banks is the procurement of factual data, the analysis of the economic and financial facts found, the exchange of information, and consultation as to the steps which may be usefully taken when symptoms of danger appear. Although the machinery of collaboration was far from being fully developed, the monthly meetings of the Governors, involving frank discussion of their individual as well as common problems, formed an important point of departure; so that when the fiftieth session was held it was not surprising to observe that more than half the Governors had never missed a single meeting and that the few lapses of the remainder were accounted for by absence from Europe. At an early gathering the Board recognized the danger in the volume of short term balances floating from one market to another, urged the transference of these funds into the intermediate credit field or into long term investments, and recommended a general reduction in interest rates. A committee investigated with some degree of success the intermediate credit possibilities. Another committee suggested the creation of a new, debenture-issuing International Credit Bank with a large capital, to promote the long term investment market and serve as a kind of International Reconstruction Corporation. This suggestion failed of adoption because those expected to supply the new capital (the French in particular) felt that the current of adverse events was flowing so quickly that any such correctives were likely to prove abortive.

Simultaneously with these activities, the Bank was experimenting in making improvements in the technique of business relationships between the central banks -- the investment of their funds; the rediscounting by or through the Bank of their bill portfolios expressed in foreign currencies or in their home currency; the clearing of payments between them; the standardization of dealings in gold; and the setting up of the nucleus of a gold settlement fund, by which debits and credits of balances due between the banks could be effected by book entries at a common center without the actual shipment of physical gold, the resultant savings in cost to be divided, or all allocated to the common agency, so that the normal spread of the gold points would not be narrowed. Whereas profit was a secondary motive, as is fitting in central banking, the earnings of the institution from its general business operations and from its non-interest bearing deposits were always such that it was able to pay the contemplated dividends and to make substantial appropriations to reserves.

The work of perfecting routine technique, and the effort to aid in the stabilization of the currencies of Jugoslavia and of Spain, were proceeding uninterruptedly at the time of the first annual meeting of the Bank's stockholders in May 1931. This drew to Basle the most extensive and representative assembly of central bankers that had ever gathered in one place. But over the meeting, ostensibly devoted to an examination of the methods and objectives of central bank coöperation, there hung a pall. The difficulties of the Austrian Kredit-Anstalt had just become public property, and the possible dire consequences formed the nervous subject of every conversation. It was fortunate that the Bank existed during the ensuing emergency; for, as in the case of the reparation crisis, it was immediately employed as a center both of information and action.

In rapid succession the Bank was called upon to grant, or to organize central bank syndicates to grant, temporary credits to the national banks of Austria, Hungary, Jugoslavia, Danzig, and to the German Reichsbank, aggregating some 750,000,000 Swiss gold francs. If any central bank, such as the Bank of England or the Banque de France, had acted alone, or as leader, the cry of political purpose or favoritism would have been raised somewhere. It was a virtue of the International Bank that others could act through it without fear of having their motives misunderstood. Never was the solidarity between central banks more clearly demonstrated than by these emergency credits, in which nearly a dozen institutions participated, including the Federal Reserve Bank of New York. All the credits have been repaid in full except one-half of the sum accorded the Bank of Hungary. The advances did not accomplish their primary purpose of creating confidence and stopping the run on Germany and Central Europe; but they achieved their secondary object, that of giving the debtor and creditor markets time to prepare themselves for the storm. The ultimate beneficiaries of the loans were the private bankers in London and New York, who continued to withdraw their balances from the danger zone. Whereupon the Bank, seeing the hopelessness of this chain of developments, declined to grant the additional credits requested by certain other central banks.

The wave of distrust then reached London and swept the pound sterling from its gold moorings. The following Monday the central banks throughout the world, most of which still held quantities of sterling, awoke to the realization that the "Gold Exchange Standard" was a misnomer; that, in fact, it was a "foreign currency" standard concealing possibilities of grave financial loss. An embryo run was started on the Bank at Basle, which surrendered over 300,000,000 Swiss gold francs within a few days, because central banks translated their reserves into metallic gold or into another currency considered sound. For this latter purpose some had the misfortune to choose the dollar. The policy of liquidity always followed by the Bank enabled it to meet the withdrawals easily, just as later it met a recurrence of heavy withdrawals when the international gyrations of the dollar commenced. But for an institution directed by its statutes to deal for its own account in currencies on "the gold or gold exchange standard," the secession of sterling, the dollar, and of the many currencies influenced by them, acutely limited upon its field of action. Except for continued operations in the gold bloc currencies, and in other exchanges "for the account of others," the Bank became a sort of international investment trust, husbanding its funds and waiting for a brighter day. But this was only on the material side. As an observation tower from which to survey the changing economic scene, as a center for financial conferences free from the glare of publicity (such, for example, as the regular private meetings of the gold bloc Governors), the Bank grew steadily in importance. A splendid esprit de corps developed. Rumors of quarrels might emanate from Geneva, but from Basle, never.

The diminution in the volume of business transactions enabled the management to concentrate its attention upon the question of the future of the monetary standard between nations and the part which the Bank could play in a better working of that mechanism. Despite the abstract allure of "managed currencies," tied to fluctuating price indices or operated by unidentified persons of super-human prescience, the conclusion was reached that at this stage of the world's development a system based on gold "remains the best available monetary mechanism and the one best suited to make possible the free flow of world trade and of international financing; it is desirable, therefore, to prepare all the necessary measures for the reëstablishment of the functioning of the gold standard." In publicly expressing this viewpoint, however, the Bank recognized that the gold standard of the past, which in reality was never "automatic," required modifications and in the future would be frankly subject to a greater degree of management than had been acknowledged in the past. "The rules of the game," often referred to but not anywhere tabulated, would have to be clearer and would have to command more general agreement if a stable system were to evolve. With these underlying precepts in mind, appointees of the Bank participated in the Preparatory Commission for the World Monetary Conference. Dr. Trip, now President of the Bank, served as Chairman of that Commission; and several of the Bank's directors took part as delegates in the subsequent London Conference.

It is not realized what a great community of doctrine was reached both upon monetary matters and upon a program, both in the Preparatory Commission and in the committees of the London Conference, where representatives of the sterling area countries, the gold countries, the "gilt" countries, and the (at that time) silver countries all sat together. Most of the proposals accepted emanated from the Bank or were informally endorsed by its Board. The application of any of the resolutions of the Conference was frustrated by the monetary experiments undertaken at that moment by the United States. But those resolutions still form the foundation upon which any enduring international monetary structure seems likely to be based.
The most important resolution prophesied, by implication, a managed gold standard, with conscious control of credit, and having more regard to fluctuations in the purchasing power of money than central banks usually accord. It read as follows:

(1) The proper functioning of the gold standard requires in the first place the adoption by each individual central bank of a policy designed to maintain a fundamental equilibrium in the balance of payments of its country. Gold movements which reflect a lack of such an equilibrium constitute therefore an essential factor in determining central bank policy.

(2) Gold movements so far as they seem to be of a more permanent character should normally not be prevented from making their influence felt both in the country losing gold and in the country receiving gold.

(3) While gold should be allowed freely to flow out of and into the countries concerned, central banks should always be prepared to buy gold at a publicly announced fixed price expressed in their currency, and to sell gold at a publicly announced fixed price, expressed in their currency, the latter at least when exchange rates reach gold points.

(4) Central banks should obtain from their markets the fullest possible information concerning the demands that might be made upon their reserves.

(5) Since as already stated under (1) the proper functioning of the gold standard requires in the first place the adoption by each individual central bank of a policy designed to maintain a fundamental equilibrium in the balance of payments of its country, the discretion of each central bank in regulating the working of the gold standard in its own country should remain unimpaired. Central banks should, however, recognize that in addition to their national task they have also to fulfill a task of international character. Their aim should be to coördinate the policy pursued in the various centers in order to contribute towards the satisfactory working of the international gold standard system.

Moreover, they should endeavor to adapt their measures of credit regulation, as far as their domestic position permits, to any tendency towards an undue change in the state of general business activity. An expansion of general business activity of a kind which clearly cannot be permanently maintained, should lead central banks to introduce a bias towards credit restriction into the credit policy which they think fit to adopt, having regard to internal conditions in their own countries. On the other hand, an undue decline in general business activity in the world at large should lead them to introduce a bias towards relaxation.

In pursuing such a policy the central banks will have done what is in their power to reduce fluctuations in business activity and thereby also undue fluctuations in the purchasing power of gold.

(6) With a view to arriving at an agreed interpretation of the data revealing the tendency of developments in general business activity, and an agreed policy, central banks should consult together continuously, each central bank in case of difference of opinion, acting on its own judgment of the situation. The Bank for International Settlements constitutes an essential agency for central bank action designed to harmonize conflicting views and for joint consultation. This instrument should continue to be employed, as far as possible, for the realization of the principles set forth. It should continuously examine the application of the principles of the working of the gold standard and study such modifications thereof as experience may prove desirable.

No such program (and no other program) for a restored monetary mechanism, so vital to the restoration of the American export business and to the repayment of American investments abroad, can successfully work without some collaboration between central banks and other financial authorities, including our own. The isolated action of one may unintentionally checkmate the action of the other, to the injury of both. To bring order into the monetary chaos is the prime objective of the Bank today; to contribute to the maintenance of such order is its prime objective for tomorrow. Many idealistic projects have been conjured up for it. One such is that it should issue an international currency -- an ancient aspiration like that for an international army. It requires for realization much more internationalism in the economic field and more pacification in the political field than is visible upon the horizon. Another is that all the world's gold should be concentrated at the Bank -- a sensible conception, unanswerable in logic, but running head-on against the human factors of nationalism and tradition. Still another is that the Bank should be made a super-bank, beneficently guiding and controlling the various national central banks, a proposal as realizable in practice as that of an omnipotent super-state.

Instead, the Bank will work and continue to function as a center for counsel and coöperation. It will be at the heart of any restored financial mechanism. It will endeavor to advance the principles of the resolution quoted. It will serve as a rediscount bank for central banks, as the Federal Reserve System does for private banks in the United States. It will hold the foreign exchange reserves of central banks, and clear for them. It will be the custodian of some portions of the metallic gold, and simplify its transfer. It will be a gatherer and disseminator of economic data upon which judgments can be reached. It will be an instrument for facilitating the normal, new international flow of capital, so necessary to natural growth. It will grant seasonal credits to small banks and may well serve as a medium for the redistribution of some share of the world's gold through advances, at longer term, from the greater central banks. And it may well operate an international exchange equalization fund. Above all, the continuous personal contacts at Basle of financial leaders from the various countries will afford some hope of a gradual improvement in international financial relations, without which internal economic advance cannot be realized to the full.

As the United States has an immediate interest in such improvement, and in the aim of currency stabilization to which the Bank is committed, our advantage would be served, without any curtailment of our independence, if the American monetary authorities were to occupy the two seats reserved for them on the Board of Directors, the non-political character of which has been proved and which will have an increasing opportunity for usefulness as time unfolds. "The conception is sound; the need is real."

Published by the Council on Foreign Relations
https://www.foreignaffairs.com/articles/1936-04-01/international-bank-and-its-future 

 

1937

George Fisher Baker Jr..59, leader of American finance ,titular head of the First National bank of New York

1939

Trust Indenture Act of 1939
 

1939 – Swissam
In July 1939 SKA creates the subsidiary Swiss American Corporation (New York), which focuses on the underwriting and investment business, as well as investment consultancy.   https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html 
 

1940

Investment Company Act of 1940

William Gage Brady Jr. - 1940-1948 president of City Bank of New York (National City Bank after 1865 - telegraph lines referred to it as "Citibank")

Jesse Lauriston Livermore American investor and security analyst.

1940 – New York
SKA opens the New York Agency on May 9, 1940.   https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html

Despite bomb damage, Barclays branches remain open during the Blitz   http://www.timeline.barclays.com/content/1690/The-start-of-Barclays.html

A. T. & M. Corp. Employees Credit Union
07/23/1940 NYS Chartered A. T. & M. Corp. Employees Credit Union
06/25/1992 Merge To State Erie County Employees Credit Union

A.P.W. Employees Credit Union
06/17/1940 NYS Chartered A.P.W. Employees Credit Union
02/14/1956 Liquidated
http://www.dfs.ny.gov/about/hista.txt

1941

1941: Breakdown of all bilateral business relations due to Germany's declaration of war.  https://www.db.com/usa/content/en/Chronicles.html

ABN AMRO Bank N.V. - Fgn Branch
01/31/1941 Licensed Nederlandsche Handel Maatschappij, N.V.
1963 Agency To Branch
10/05/1964 Name Change To Algemene Bank Nederland N.V.
11/19/1991 Name Change To ABN AMRO Bank N.V.ABN AMRO Bank N.V. - Fgn Branch
01/31/1941 Licensed Nederlandsche Handel Maatschappij, N.V.                       http://www.scripophily.com/nybankhistorya.htm

1944

The United States was a leading force in the establishment of the World Bank in 1944 and remains the largest shareholder of the World Bank today. As the only World Bank shareholder that retains veto power over changes in the Bank’s structure, the United States plays a unique role in influencing and shaping development priorities. Through the World Bank Group, the United States participates in a... http://www.worldbank.org/en/country/unitedstates

1946

During the post-World War II years the company participated in a series of mergers, which ultimately increased the bank's assets from $1.35 billion in 1946 to $15 billion by 1972. In 1947 the company merged with Continental Bank and Trust Company. In 1954 Chemical merged with the Corn Exchange Bank Trust Company to form Chemical Corn Exchange Bank. This merger brought Chemical ninety-eight additional branches throughout New York City. In 1959 the company merged with New York Trust Company, which had a large trust and wholesale-banking business. In 1968 the company formed a bank-holding company, Chemical New York Corporation.  http://www.library.hbs.edu/hc/lehman/chrono.html?company=chemical_new_york_corp

1948

Howard Sheperd - 1948-1952 president of City Bank of New York (National City Bank after 1865 - telegraph lines referred to it as "Citibank")

Citi Greece launched its operations in 1964 with 18 employees in three leased rooms of a central hotel. However, our institution's links to Greece date back to 1948, when Citi financed A. Onassis' first supertanker, an innovation in oil transportation that made a scarce resource available world-wide. http://www.citigroup.com/citi/about/countrypresence/greece.html

1949

Grenville "Beans" Baker  27   is shot in the head and dies.  The son of George Fisher Baker, and the brother of George Fisher Baker III. The grandson of George Fisher Baker, Sr.,  a founder and president of the First National Bank of New York, later known as Citibank.

The Synagogue Of Satan 1949 ~ 1973, by Andrew Carrington Hitchcock

1952

Stillman Rockefeller - 1952-1959 president of City Bank of New York (National City Bank after 1865 - telegraph lines referred to it as "Citibank")

1953

    United States v. Morgan  The Seventeen Defendant Investment Banking Firms. 1. Morgan Stanley & Co. 2. Kuhn Loeb & Co. 3. Smith Barney & Co. 4. Lehman Brothers. 5. Glore Forgan & Co. 6. Kidder Peabody & Co. 7. Goldman Sachs & Co. 8. White Weld & Co. 9. Eastman Dillon & Co. 10. Drexel & Co. 11. The First Boston Corporation *626 12. Dillon Read & Co. Inc. 13. Blyth & Co., Inc. 14. Harriman Ripley & Co., Incorporated. 15. Stone & Webster Securities Corporation. 16. Harris Hall & Company (Incorporated). 17. Union Securities Corporation

You Will Fall Like Over Ripe Fruit into our Hands [video below]

(Communist hands)

)

1954

During the post-World War II years the company participated in a series of mergers, which ultimately increased the bank's assets from $1.35 billion in 1946 to $15 billion by 1972. In 1947 the company merged with Continental Bank and Trust Company. In 1954 Chemical merged with the Corn Exchange Bank Trust Company to form Chemical Corn Exchange Bank. This merger brought Chemical ninety-eight additional branches throughout New York City. In 1959 the company merged with New York Trust Company, which had a large trust and wholesale-banking business. In 1968 the company formed a bank-holding company, Chemical New York Corporation. http://www.library.hbs.edu/hc/lehman/chrono.html?company=chemical_new_york_corp 

1954: Wells Fargo & Union Trust shortens its name to Wells Fargo Bank.

1955

1955 - Committee on the History of the Federal Reserve System Register of Papers on Leon Fraser
https://fraser.stlouisfed.org/files/docs/historical/brookings/16807_01_0029.pdf

The Manhattan Company merged with Chase National Bank in 1955 to form the Chase Manhattan Bank. https://www.jpmorgan.com/pages/company-history  

Carl Loeb founded Carl M. Loeb, Rhoades & Company

 

1956

On This Day
October 7, 1956

OBITUARY

Charles Merrill, Broker, Dies; Founder of Merrill Lynch Firm

Special to THE NEW YORK TIMES

Southampton, L.I., Sunday, Oct. 7--Charles Edward Merrill, a directing partner of Merrill Lynch, Pierce, Fenner & Beane, investment banking and brokerage firm, died at his home on Dune Road early last night. His age was 70.

In 1914 Mr. Merrill founded the firm that grew into Merrill Lynch, Pierce, Fenner & Beane.

His death was attributed to complications from a heart condition of log duration. Mr. Merrill, who had been in semi-retirement since he first suffered a heart attack in 1944, became critically ill a week ago.

He is survived by a daughter, Mrs. Robert A. Magowan of Oakland, Calif.; two sons, Charles E. Jr. of St. Louis and James I. of New York, and ten grandchildren.

Funeral services will be held in New York at the Protestant Episcopal Church of the Ascension, Fifth Avenue and Tenth Street. No date has been set yet. Burial will be in Palm Beach, Fla.

Mr. Merrill was one of the first New York stockbrokers to realize the importance of selling stocks and bonds to small investors by furnishing for them simple, conservative and sound financial advice.

A mine of provocative ideas about how to interest the little and often Wall Street-shy man in acquiring a stake in his country's economy, Mr. Merrill was a frequent and firm spokesman for the importance of a free capital market in this nation of free enterprise.

If Mr. Merrill had been addicted to the I-told-you-so attitude, he could have pointed to a moment in the country's financial history when he was painfully right.

In 1928, Mr. Merrill and Roger Babson were almost alone in the financial community in sensing possible disaster in the stock market. Although Mr. Merrill was less widely known at the time and, unlike Mr. Babson, did not carry enough weight with his customers to depress the market, he was no less forceful in counseling caution. He was convinced that the dizzy joy ride then under way would not last and his firm mailed out a market letter in which he said:

"Now is the time to get out of debt. We think you should know that with a few exceptions all the larger companies financed by us today have no funded debt. This is not the result of luck but of carefully considered plans on the part of their managements and ourselves to place these companies in an impregnable position. The advice that we have given important corporations can be followed to advantage by all classes of investors. We do not urge you to sell securities indiscriminately, but we advise you in no uncertain terms that you take advantage of present high prices and put your own financial house in order. We recommend that you sell enough securities to lighten your obligations, or better yet, pay them entirely."

Learned a Lesson
Many years later, when he was asked how he had come to the conclusion that caution was in order, Mr. Merrill said:

"The lesson that I had learned--when stocks are too high they come down--stood me in good stead in 1928-29." It was estimated at the time of the stock market crash that Mr. Merrill's foresight had saved over $6,000,000 for his customers.

Mr. Merrill's concern for the small investor caught in the 1928 crash was so great that he begged President Calvin Coolidge to align himself with the more conservative Wall Street forces. He even offered to make Mr. Coolidge a partner in his firm. Mr. Merrill's words of caution were lost in the thunderous stock market crash of October, 1929, but he had placed his firm, then E. A. Pierce & Co., in the best possible position. It never had to borrow a dollar for its own account.

Born in Florida
Charles Edward Merrill was born in Green Cove Springs, Fla., on Oct. 19, 1885. He was a son of Dr. Charles Morton Merrill, country physician and drug-store proprietor. His mother was the former Octavia Wilson.

Young Charles did odd jobs about the drug store and had a newspaper route. After studying at the secondary school of Florida's Stetson University and at Worcester Academy, he attended Amherst College. He lived in the smallest room in the Chi Psi fraternity house and waited on table to defray part of his expenses. During one year at Amherst he made $1,300 in commissions selling men's clothes for Renison & Coe of Springfield, Mass.

Leaving Amherst after his sophomore year, Mr. Merrill edited a small newspaper in West Palm Beach, Fla., and played a bit of semi-professional baseball.

After a brief period in the New York offices maintained by a group of textile manufacturers, Mr. Merrill entered upon the career in which he was to establish himself as one of the nation's leaders. He joined the firm of George H. Burr & Co., a commercial paper house, and in a short time was head of the company's new bond department. His salary in this new job was $25 a week, but he shared in the profits and did very well.

Founded Firm in 1914
Young Mr. Merrill's hustle and his straightforward approach to his job gained him a higher paying position with Eastman Dillon. However, he had long had the idea of owning his own firm, and on Jan. 3, 1914, potential customers received notices of the establishment of the firm of Charles E. Merrill & Co. The firm's offices consisted of one room sublet from the Eastman Dillon firm. It was on the seventh floor of 7 Wall Street.

By the middle of the year Mr. Merrill and a partner or two began to expand the firm of Charles E. Merrill & Co. into the brokerage firm with a name so resounding that Wall Street jokesters said that it sounded like a beer barrel being rolled downstairs. Years later, it unrolled itself as Merrill Lynch, Pierce, Fenner & Beane.

In the early days Mr. Merrill and his associates--the first one was a young bond salesman named Edmund C. Lynch--faced the struggle for survival that is the lot of most new Wall Street enterprises.

There was time out from Wall Street for Mr. Merrill during World War I. He enlisted in the United States Army and served as a first lieutenant in the signal Corp's fledgling air force.

After his military service Mr. Merrill returned to Wall Street and found the firm in good condition, thanks largely to a timely loan approved by Gates W. McGarragh, then president of the Mechanics and Metals Bank.

Underwrote McCrory Stores
The ingenuity of Mr. Merrill and his partner was tested when they won their first big selling victory. They underwrote the McCrory Stores, a real coup for a firm with no capital.

The prestige of the McCrory deal enabled them to underwrite Kresge, Spicer, Superior Steel, Marland Oil, Safeway Stores, Grand Union, Dana and other similar concerns. There were some reverses; not all the organizations they underwrote were successful. There was a debacle with Saxon Motors. Mr. Merrill recalled that Saxon stock had always been offered frankly as a speculative venture.

During World War I the Merrill firm added to its composition Winthrop H. Smith, a young Amherst man with extraordinary sales and executive ability. In 1928, Mr. Smith became a Merrill Lynch partner and was finally the firm's sales manager.

By the early Twenties, Mr. Merrill and Mr. Lynch were long past the stage of conducting business meetings in the Public Library. They had many successful underwritings to their credit and they had come to be regarded as experts in selling common stock on commission and in personal investments.

Persons associated with Mr. Merrill long regarded his creation of Safeway Stores as one of his greatest successes. By 1953, Safeway Stores was the nation's second largest food chain. As a sideline--one that was extraordinarily successful--Mr. Merrill and his associates began "Family Circle," a mass circulation magazine that was one of the first for distribution in chain stores.

Weathered Storms
By the Thirties, Merrill Lynch & Co. operated a taut shop and came through in the face of many trials. Mr. Lynch died in 1938. In 1940, Mr. Merrill's firm became Merrill, E. A. Pierce & Cassett and it was not long until Fenner & Beane, a widely-known firm, had been drawn into a merger. In 1941, the Merrill firm became the firm that continued to expand in the middle Fifties.

Mr. Merrill's great capacity for hard work took its toll in 1944 when he developed a heart condition. He was forced to curtail his activities for some time.

Mr. Merrill amassed great wealth and was widely interested in aiding many of the nation's educational and religious institutions.

On April 12, 1912, Mr. Merrill married Eliza Church. They had two children, Charles Edward and Doris, who married Robert A. Magowan, chairman of the board of Safeway Stores, Inc. After the termination of this marriage by divorce, Mr. Merrill married Hellen Ingram on Feb. 19, 1925. One son, James Ingram Merrill, was born to this marriage, which also ended in divorce.
Copyright 2010 The New York Times Company

http://www.nytimes.com/learning/general/onthisday/bday/1019.html
 


1956

 

1957

 Edwin Sibley Webster Jr. 57, banker Kidder, Peabody Co. found dead  from gun shot wounds

1958

Barclays appoints the UK's first ever female branch manager     http://www.timeline.barclays.com/content/1690/The-start-of-Barclays.html 

In 1958 Citi opened its first branch in Africa. In numerous instances since that time, Citi was the first overseas bank to open branches in African countries. Today, Citi operates in 15 countries across Africa, spanning corporate, consumer and private banking.
http://www.citi.com/southafrica/homepage/citi_locally.htm

1959

George S. Moore - 1959-1967 president of City Bank of New York (National City Bank after 1865 - telegraph lines referred to it as "Citibank")

-Early in 1959 the board of governors of the federal reserve system turned down requests from certain commercial banks to raise the rate ceiling from 3% on time deposits. Such a rate was subject to competitive pressure from mutual savings banks and savings and loan associations and from high yields on short-term government securities. ...

The repeal by Congress of Section 13b of the Federal Reserve act became effective Aug. 21, 1959. As of that date, therefore, the federal reserve banks were no longer authorized to grant commitments to, and participate with, financing institutions in providing working capital for established industrial and commercial businesses, or to make direct loans or commitments to such businesses. (Britannica Book of the Year 1960, events  of 1959,page 253,Federal Reserve System)

-He mentioned the Banking and Currency Committee going to conference over the housing authority which allows for backdoor borrowing--"We won't have anybody in there to fight it." Banking and Currency is in favor, and the Senate is in favor--even though the House, on the floor, tacked on the Thomas amendment to take this authority to borrow out of the bill--it will get sacked in the committee because the committee in conference is opposed to the amendment--he was extremely exercised about backdoor borrowing and the lack of overall control over appropriations.
http://www.archives.gov/legislative/research/special-collections/oral-history/fenno/gary-1959.html

During the post-World War II years the company participated in a series of mergers, which ultimately increased the bank's assets from $1.35 billion in 1946 to $15 billion by 1972. In 1947 the company merged with Continental Bank and Trust Company. In 1954 Chemical merged with the Corn Exchange Bank Trust Company to form Chemical Corn Exchange Bank. This merger brought Chemical ninety-eight additional branches throughout New York City. In 1959 the company merged with New York Trust Company, which had a large trust and wholesale-banking business. In 1968 the company formed a bank-holding company, Chemical New York Corporation.  http://www.library.hbs.edu/hc/lehman/chrono.html?company=chemical_new_york_corp

1960

1960: Wells Fargo merges with American Trust Company to form the Wells Fargo Bank American Trust Company.

1962

1962: Wells Fargo American Trust again shortens its name to Wells Fargo Bank.

1917-04-25 FIRST NATIONAL CITY BANK OF NEW YORK located at NEW YORK, NY was established as a National Bank. 
1962-01-19 FIRST NATIONAL CITY BANK OF NEW YORK was renamed to FIRST NATIONAL CITY BANK. 
1976-03-01 FIRST NATIONAL CITY BANK was renamed to CITIBANK, N.A. and moved to 5 WALL STREET NEW YORK, NY. 
1978-12-30 CITIBANK, N.A. moved to 55 WALL STREET NEW YORK, NY. 
1990-07-05 CITIBANK, N.A. moved to 399 PARK AVENUE NEW YORK, NY. 
2006-10-01 CITIBANK, N.A. moved to 3900 PARADISE ROAD, SUITE 127 LAS VEGAS, NV. 
2011-07-01 CITIBANK, N.A. moved to 701 EAST 60TH STREET NORTH SIOUX FALLS, SD. 
http://www.ffiec.gov/nicpubweb/nicweb/InstitutionHistory.aspx?parID_RSSD=476810&parDT_END=99991231 

1962 – White Weld
In 1962, Credit Suisse takes over White, Weld and Co. AG, Zurich, from the American investment bank, White Weld, New York. The acquisition is re-named Clariden Finanz AG.  https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html

Citi has had a presence in Belgium since 1919 and opened its headquarters in Brussels in 1962. In 1969, Citibank took over Crédivit Bank and Financia Bank. Crédivit merged with Financia to form Famibank in 1977. After taking over Banque Copine and Banque Sud Belge, Banque Sud Belge merged with Famibank, creating Citibank Belgium in 1992. In 2012 the Citibank consumer franchise was sold to Credit Mutel Nord Europe. http://www.citigroup.com/citi/about/countrypresence/belgium.html

1963

JOHN F. KENNEDY THE WHITE HOUSE   AMENDMENT OF EXECUTIVE ORDER NO. 10289

 

1964

1964 – Full-Service Bank
Credit Suisse is granted a license as a full-service bank, allowing it to take deposits and carry out all other types of banking in the USA. https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html 
 

--Barclays Bank D.C.O. Opens Park Ave. Branch; British Unit's Vice Chairman Flies From London to Dedicate 1,400th Office BARCLAYS OPENS PARK AVE.

Barclay's Bank D.C.O., Britain's biggest overseas banking organization, ran off another marker on its growth string yesterday with the opening of a new branch office at 300 Park Avenue.   http://query.nytimes.com/gst/abstract.html?res=9506EEDB1E30E033A25756C1A96F9C946591D6CF

Citi Greece launched its operations in 1964 with 18 employees in three leased rooms of a central hotel. However, our institution's links to Greece date back to 1948, when Citi financed A. Onassis' first supertanker, an innovation in oil transportation that made a scarce resource available world-wide. http://www.citigroup.com/citi/about/countrypresence/greece.html

1966

Barclays launches the Barclaycard, the UK's first credit card    http://www.timeline.barclays.com/content/1690/The-start-of-Barclays.html 
 

1967

 We [Barclays] launch the world's first cash machine                              http://www.timeline.barclays.com/content/1690/The-start-of-Barclays.html    
 

1968

 1968: Wells Fargo converts to a federal banking charter, becoming Wells Fargo Bank, N.A.

1968: Deutsche Bank founds European-American Banking Corporation and European-American Bank & Trust Corporation together with other European banks.  https://www.db.com/usa/content/en/Chronicles.html

1968: Chase Manhattan enters a joint venture with The Bank of Ireland to establish The Chase Bank of Ireland (International) Ltd. Chase takes a 50% interest in the venture. https://www.jpmorgan.com/pages/jpmorgan/emea/uk/about/history

   The firm launches Euroclear, a system for the orderly settlement of transactions in Eurobonds.  https://www.jpmorgan.com/pages/company-history

During the post-World War II years the company participated in a series of mergers, which ultimately increased the bank's assets from $1.35 billion in 1946 to $15 billion by 1972. In 1947 the company merged with Continental Bank and Trust Company. In 1954 Chemical merged with the Corn Exchange Bank Trust Company to form Chemical Corn Exchange Bank. This merger brought Chemical ninety-eight additional branches throughout New York City. In 1959 the company merged with New York Trust Company, which had a large trust and wholesale-banking business. In 1968 the company formed a bank-holding company, Chemical New York Corporation. http://www.library.hbs.edu/hc/lehman/chrono.html?company=chemical_new_york_corp 

After the war, the bank refrained from establishing its own foreign operations. Business abroad was conducted primarily through relationships to correspondent banks and supported by a few representative offices and shareholdings. The EBIC, a group of European banks, was also committed to the correspondent bank principle, and it established - with the participation of Deutsche Bank - the European-American Banking Corporation and the European-American Bank & Trust Company in New York in 1968. They offered their services primarily to European companies with business activities in the United States and gave financing assistance to American branches of European companies. In 1974, Franklin National Bank, which had become insolvent, was taken over, which opened the door to retail banking. But in 1988 Deutsche Bank discontinued its involvement with the company.

In addition, the UBS-DB Corporation was established in 1971 and engaged not only in the custody and issuing business, but also in leasing transactions and the referral of shareholdings. Its name was changed to Atlantic Capital Corporation. In 1985 it developed into Deutsche Bank Capital Corporation.

It was first in 1979 that Deutsche Bank opened a New York branch.
https://www.db.com/usa/content/en/history.html
 

1969

Citi has had a presence in Belgium since 1919 and opened its headquarters in Brussels in 1962. In 1969, Citibank took over Crédivit Bank and Financia Bank. Crédivit merged with Financia to form Famibank in 1977. After taking over Banque Copine and Banque Sud Belge, Banque Sud Belge merged with Famibank, creating Citibank Belgium in 1992. In 2012 the Citibank consumer franchise was sold to Credit Mutel Nord Europe. http://www.citigroup.com/citi/about/countrypresence/belgium.html

1969: Wells Fargo & Company holding company is formed, with Wells Fargo Bank as its main subsidiary.

Address by G. Edward Griffin, given in 1969

1970

1970: The First National Bank of Chicago (a predecessor firm) opens a branch in Dublin at 31 Dame Street. The branch moves to 44/45 St. Stephen’s Green in 1974.  https://www.jpmorgan.com/pages/jpmorgan/emea/uk/about/history

Citi has had a presence in Austria since 1970 and, through our Securities & Banking business, is now the only U.S.-based bank offering corporate and investment banking services in the country. http://www.citigroup.com/citi/about/countrypresence/austria.html

1971

1971 First National City Bank acquired 21.7% of Industrial Acceptance Corporation in Australia. https://www.citibank.com.au/aus/static/aboutus_history.htm

1971: Together with Schweizerische Bankgesellschaft, Deutsche Bank sets up UBS-DB Corporation, New York.  https://www.db.com/usa/content/en/Chronicles.html

After the war, the bank refrained from establishing its own foreign operations. Business abroad was conducted primarily through relationships to correspondent banks and supported by a few representative offices and shareholdings. The EBIC, a group of European banks, was also committed to the correspondent bank principle, and it established - with the participation of Deutsche Bank - the European-American Banking Corporation and the European-American Bank & Trust Company in New York in 1968. They offered their services primarily to European companies with business activities in the United States and gave financing assistance to American branches of European companies. In 1974, Franklin National Bank, which had become insolvent, was taken over, which opened the door to retail banking. But in 1988 Deutsche Bank discontinued its involvement with the company.

In addition, the UBS-DB Corporation was established in 1971 and engaged not only in the custody and issuing business, but also in leasing transactions and the referral of shareholdings. Its name was changed to Atlantic Capital Corporation. In 1985 it developed into Deutsche Bank Capital Corporation.

It was first in 1979 that Deutsche Bank opened a New York branch.
https://www.db.com/usa/content/en/history.html

1973

Chase opens a representative office in Moscow, the first Russian presence for a U.S. bank since the 1920s; Chase also becomes the first U.S. correspondent to the Bank of China since the 1949 Chinese revolution.  https://www.jpmorgan.com/pages/company-history

1974

The Synagogue Of Satan 1974 ~ 1990, by Andrew Carrington Hitchcock

After the war, the bank refrained from establishing its own foreign operations. Business abroad was conducted primarily through relationships to correspondent banks and supported by a few representative offices and shareholdings. The EBIC, a group of European banks, was also committed to the correspondent bank principle, and it established - with the participation of Deutsche Bank - the European-American Banking Corporation and the European-American Bank & Trust Company in New York in 1968. They offered their services primarily to European companies with business activities in the United States and gave financing assistance to American branches of European companies. In 1974, Franklin National Bank, which had become insolvent, was taken over, which opened the door to retail banking. But in 1988 Deutsche Bank discontinued its involvement with the company.

In addition, the UBS-DB Corporation was established in 1971 and engaged not only in the custody and issuing business, but also in leasing transactions and the referral of shareholdings. Its name was changed to Atlantic Capital Corporation. In 1985 it developed into Deutsche Bank Capital Corporation.

It was first in 1979 that Deutsche Bank opened a New York branch.
https://www.db.com/usa/content/en/history.html

Citi's history in Russia began almost 100 years ago and is closely tied to the dramatic events that unfolded during that period of the country's history. Citi has always acted as a unifying link between the Russian economy and other world economies and played an important role in the development of the country's trade and external economic relations.

Citi first entered Russia on the eve of the Revolution. In 1916, Citi, then-called National City Bank (NCB), underwrote bonds to support the government of the Russian Empire as World War I took its toll on the country's resources. Believing that Russia would soon emerge from the war and embark on a period of rapid economic development, NCB executives established a branch in Petrograd on January 15, 1917. Just two months later, the tsar was forced to abdicate, and a new, liberal government took power. Even as the battles raged in the streets of Petrograd, the bank established a new branch in Moscow in November. By December, the new Bolshevik government had taken control of the major cities of European Russia. On February 3, 1919, the bank established a branch in the city of Vladivostok in the Far East, a meeting point for retreating soldiers and refugees. On March 13, 1920, all three branches were closed.

Between 1920 and 1970, diplomatic and economic challenges – followed by WWII and then the Cold War – prevented the bank from re-entering the country. In the 1970s, however, during the period of détente, U.S.-Soviet trade increased, and there was greater contact between the two countries. In June 1973, the Soviet government gave Citi permission to establish a limited presence in the U.S.S.R., and, in 1974, the bank opened a representative office in Moscow on Karl Marx Avenue. Six years later, with the onset of the Afghanistan War and increasing tensions between the East and the West, the office was shut down. In 1992, following the collapse of the Soviet Union and emergence of the Russian Federation on the global marketplace, Citi once again had the opportunity to open a representative office in Moscow.

Having opened its office on October 1, 1992, by November 1, 1993, the bank had received all the necessary licenses to provide banking services in the Russian Federation, thus becoming one of the first international banks to enter the Russian market. In January 1994, Citi was inaugurated as a financial institution focused on corporate banking services, financing and trade. In 1995, Citi advised Mosenergo – the largest generating company operating on fossil fuel in Russia – on the first-ever ADR issue by a Russian company. It was Citi Russia's first major deal after its opening. On February 7, 1996, the bank opened a branch in St. Petersburg. Citi engaged in business and development financing for government bodies and a wide spectrum of corporate clients.

In 1998, Russia was hit by a financial crisis; although many other international banks left, Citi remained. As a result, Citi Russia became stronger and greatly expanded its presence in the Russian market. In November 2002, the bank launched a retail banking business and began to expand its presence with new branches and sales centers. By 2010, Citi's retail operations in Russia were serving more than one million Russian clients.
http://www.citigroup.com/citi/about/countrypresence/russia.html

1975

CIA secret weapon of assassination Heart Attack Gun, Declassified 1975

Citi set its first footprint into Vietnam in 1975, and then started up a representative office in Hanoi in 1993. A year later, Citi became the first U.S financial institution licensed for branch opening and full branch establishment in Hanoi a year later.
With two branches located in the country‘s top cities of Hanoi and Ho Chi Minh.... https://www.citibank.com.vn/english/footer/about_us.htm

1976

1917-04-25 FIRST NATIONAL CITY BANK OF NEW YORK located at NEW YORK, NY was established as a National Bank. 
1962-01-19 FIRST NATIONAL CITY BANK OF NEW YORK was renamed to FIRST NATIONAL CITY BANK. 
1976-03-01 FIRST NATIONAL CITY BANK was renamed to CITIBANK, N.A. and moved to 5 WALL STREET NEW YORK, NY. 
1978-12-30 CITIBANK, N.A. moved to 55 WALL STREET NEW YORK, NY. 
1990-07-05 CITIBANK, N.A. moved to 399 PARK AVENUE NEW YORK, NY. 
2006-10-01 CITIBANK, N.A. moved to 3900 PARADISE ROAD, SUITE 127 LAS VEGAS, NV. 
2011-07-01 CITIBANK, N.A. moved to 701 EAST 60TH STREET NORTH SIOUX FALLS, SD. 
http://www.ffiec.gov/nicpubweb/nicweb/InstitutionHistory.aspx?parID_RSSD=476810&parDT_END=99991231 

1976 – Bodenkreditanstalt
The merger with the Schweizerische Bodenkreditanstalt marks the first major step toward growth in mass business and represents a substantial expansion of the sales network and client base.  https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html  

1977

1977 – The Chiasso Affair
The Chiasso affair resulted in the biggest loss SKA had suffered in its entire history. The crisis prompted the bank to strike out for new shores and transform itself from a traditional Zurich institution into an international financial services provider.   https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html

Personal bankers are introduced to branches  http://www.timeline.barclays.com/content/1690/The-start-of-Barclays.html  

Through the 1960s and 1970s, the company continued to expand, and its international operations grew significantly. By 1977 Chemical had added branches and/or offices in the Bahamas, Frankfurt, Brussels, Zurich, Paris, Tokyo, Singapore, Milan, London, and Taiwan. Chemical also continued to acquire other companies during this time. It also formed a real estate financing subsidiary, Chemical Realty Company. One of the company's most popular innovations at that time was "ChemLink," a computerized system that enabled corporations to transfer funds anywhere and to have instant access to their funds worldwide.
http://www.library.hbs.edu/hc/lehman/chrono.html?company=chemical_new_york_corp

Kuhn, Loeb & Co.Investment bank founded 1867 by Abraham Kuhn and Solomon Loeb. it merged in 1977 with Lehman Brothers, making Lehman Brothers, Kuhn, Loeb Inc. This firm was then acquired in 1984 by Shearson/American Express, ending with the utterly awkward name, Shearson Lehman/American Express.  http://www.nndb.com/company/062/000124687/

In the 1960s the firm greatly expanded its capital markets trading capabilities, particularly in commercial paper. This led to the firm's designation as an official dealer for U.S. Treasuries. In the 1960s and 1970s, when many U.S. companies began to expand internationally, Lehman Brothers inrceased its global presence as well, opening offices in Europe and Asia. The firm’s international stature was further enhanced in 1977 through the merger with the distinguished investment bank, Kuhn, Loeb & Co.

As significant advances in electronic technology and computer science contributed to economic expansion during the 1970s, Lehman Brothers sought opportunities in applied science and technology. Among their new investments were future industry leaders such as QUALCOMM, a developer of digital wireless communication systems, and Loral Corporation, a manufacturer of defense electronics.  http://www.library.hbs.edu/hc/lehman/history.html

Archives | 1977
Lehman and Kuhn Loeb to Merge

By LEONARD SLOANENOV. 29, 1977

The article as it originally appeared.
View page in TimesMachine
November 29, 1977, Page 1 The New York Times Archives

Lehman Brothers Inc. and Kuhn Loeb & Company, two of the most widely known and oldest investment banking firms on Wall Street, announced plans yesterday to merge.

The consolidation of Lehman, founded in 1850, with Kuhn Loeb, founded in 1867, would bring together two organizations with great international prestige, diversified financial capability and a long roster of blue‐chip corporate clients throughout the world. It would also create one of the largest concerns in the securities industry, with ‘total capital of more than $78 million and 1,800 domestic and foreign employees.

Terms of the merger agreement, signed yesterday and scheduled to be completed Dec. 16, call for Peter G. Peterson, 51 years old, chairman and president of Lehman, to hold the same positions in the combined firm. John M. Schiff, 74, chairman of Kuhn Loeb and a member of that firm's founding family, would be honorary chairman.

The new enterprise would be a holding company called Lehman Brothers Kuhn Loeb Inc., owned by the present stockholders of the two firms, who are mainly present and former partners and their families, as well as the Banca Commerciale Italiana Group of Italy, an investor in Lehman. For its foreign operations, the concern's name would be reversed, creating Kuhn Loeb Lehman Brothers International.

The merger plan is the latest in a trend that has shaken the financial community over the last two and a half years after the onset of fully negotiated commission rates for brokerage transactions. In 1977 the merger and acquisition trend picked up noticeably, particularly following efforts by the Securities and Exchange Commission to break down competitive barriers in the industry by eliminating restrictive New York Stock Exchange rules barring trading away from the exchange's floor.

Among the consolidations announced in recent months was the pending combination of Dean Witter & Company with ‘ Reynolds Securities Inc., the largest merger in Wall Street history. Others include the proposed merger of Loeb Rhoades & Company (unrelated to Kuhn Loeb) and Hornblower, Weeks, Noyes & Trask Inc., as well as the mergers of mitchell Hutchins Inc. into Paine Webber Inc. and Faulkner. Dawkins & Sullivan Inc. into Shearson Hayden Stone Inc.

In contrast to these combinations involving concerns that are primarily in the brokerage business, however, the Lehman•Kuhn Loeb merger would mark the first.major linking of this year of old‐line investment banking firms. The new concern would become the fourth‐largest investment banker—after Salomon Brothers, Goldman, Sachs & Company and the First Boston Corporation—although many big brokerage firms also have extensive investment banking operations.

While brokerage firms principally act as agents for their customers who buy and sell securities, investment bankers are primarily concerned with raising capital for their corporate clients through underwritings and private placements. The investment banking function also encompasses recommending mergers or cquisitions, handling tender and exchange offers and financing public authorities and municipalities.

Investment Banking Operations

Thus, for example, when Pan American World Airways Inc. wanted to exchange one category of security for another, called upon Lehman to provide advice and expertise on the $350 million transaction. Similarly, when the Westinghouse Electric Corporation sold $170 million worth of common stock to the public, Kuhn Loeb acted as co‐manager of the syndicate that distributed these shares through 200 different securities firms.

In discussing the proposed merger yesterday, Mr. Peterson said, “There is a remarkable fit of the firms in businesges, philosophy and people. We've brought together some important management strengths in both domestic and foreign operations.”

Mr. Schiff, the patriarch of Kuhn Loeb and one of the most respected figures on Wall Street, noted that “in this day and age it's a battle of the giants. This is a highly competitive business and we are going to be a strong and highly competitive organization.”

Lehman has 1,250 employes and 10 offices in the United States and overseas. Kuhn Loeb has 550 ‘employees and 7 offices. The number of employees would be reduced after completion of the merger, although officials of neither company would estimate.the extent of the layoffs. Offices in six cities would be combined, including New York, where the employees at Kuhn Loeb's 40 Wall Street headquarters will eventually be phased into Lehman's 1 William Street headquarters, also in the heart of the New York financial district.

Both Lehman and Kuhn Loeb are privately owned corporations that do not issue public financial reports. Lehman, which has about $60 million in capital, is understood to have earned more than $20 million in its fiscal year ended Sept. 30.

Kuhn Loeb, with capital of around $18 million, is said to have suffered a large trading loss recently in securities of the Government National Mortgage Association. But Mr. Schiff said yesterday that his firm has been operating in the black in 1977.

Both firms have discussed amalgamations with others this year, especially Kuhn Loeb, which has talked to Shearson Hayden Stone Inc., Paine Webber Inc. and Blyth Eastman Dillon & Company. Their discussions with each other have been going on for several weeks, with a final decision made yesterday morning.

In the new company, Harvey M. Krueger, president and chief executive officer of the Kuhn Loeb, will be responsible for investment banking and chairman of the banking policy committee. Lewis L. Glucksman and Robert S. Rubin, members of Lehman's executive committee, will direct all equity and fixed‐income activities.

Combined Executive Committee

The executive committee of the combined firm would consist of 10 members, seven from Lehman and three from Kuhn Loeb. The Lehman representatives, in addition to Mr. Peterson, Mr. Glucksman and Mr. Rubin, would be George H. Heyman Jr., chairman of the investment committee, David G. Sacks, chairman of the capital planning committee, Ian K. MacGregor, chairman of Lehman Brothers International, and James W. Glanville. All but Mr. Peterson, the chief executive officer,‐and Mr. McGregor, the head of foreign operations, have the title of managing directors.

The Kuhn Loeb members of the executive committee, besides Mr. Krueger would be Yves‐Andre Istel and Anthony M. Lund, who direct their company's foreign activities and who are Kuhn Loeb managing directors. The organization headed by Mr. Istel and Mr. Lund would be responsible for the international business of the combined firm.

A cocktail party for officials of the two firms was held last night at the Lehman offices to celebrate the impending merger. Mr. Peterson acted as host before departing for Europe for meetings with both companies’ international staffs and with representatives of the International Chamber of Commerce.

Shortly before the party, Mr. Krueger jokingly observed that the consolidation involved more than just the two investment firms. “It's also a merger of two of the best kitchens on Wall Street,” he said.

The New York Times J4bn M. Schiff, left, Kuhn Loeb chairman, with Harvey M. Krueger, president, at the news conference yesterday as the merger was announced.

A version of this archives appears in print on November 29, 1977, on Page 1 of the New York edition with the headline: Lehman and Kuhn Loeb to Merge. Order Reprints| Today's Paper|Subscribe
http://www.nytimes.com/1977/11/29/archives/lehman-and-kuhn-loeb-to-merge-lehman-brothers-and-kuhn-loeb-sign.html

1977 Citicorp Australia Holdings formed and acquired 100% of Industrial Acceptance Corporation. https://www.citibank.com.au/aus/static/aboutus_history.htm

Citi has had a presence in Belgium since 1919 and opened its headquarters in Brussels in 1962. In 1969, Citibank took over Crédivit Bank and Financia Bank. Crédivit merged with Financia to form Famibank in 1977. After taking over Banque Copine and Banque Sud Belge, Banque Sud Belge merged with Famibank, creating Citibank Belgium in 1992. In 2012 the Citibank consumer franchise was sold to Credit Mutel Nord Europe. http://www.citigroup.com/citi/about/countrypresence/belgium.html

1978

1917-04-25 FIRST NATIONAL CITY BANK OF NEW YORK located at NEW YORK, NY was established as a National Bank. 
1962-01-19 FIRST NATIONAL CITY BANK OF NEW YORK was renamed to FIRST NATIONAL CITY BANK. 
1976-03-01 FIRST NATIONAL CITY BANK was renamed to CITIBANK, N.A. and moved to 5 WALL STREET NEW YORK, NY. 
1978-12-30 CITIBANK, N.A. moved to 55 WALL STREET NEW YORK, NY. 
1990-07-05 CITIBANK, N.A. moved to 399 PARK AVENUE NEW YORK, NY. 
2006-10-01 CITIBANK, N.A. moved to 3900 PARADISE ROAD, SUITE 127 LAS VEGAS, NV. 
2011-07-01 CITIBANK, N.A. moved to 701 EAST 60TH STREET NORTH SIOUX FALLS, SD. 
http://www.ffiec.gov/nicpubweb/nicweb/InstitutionHistory.aspx?parID_RSSD=476810&parDT_END=99991231 

 

1978: Deutsche Bank acquires the remaining 50% of the capital of UBS-DB corporation. The company is renamed in Atlantic Capital Corporation. https://www.db.com/usa/content/en/Chronicles.html 
 

In 1978, White, Weld & Company dropped its partnership with Credit Suisse after it was bought by Merrill Lynch. To replace the partnership with White, Credit Suisse partnered with First Boston to create Credit Suisse First Boston in Europe and bought a 44 percent stake in First Boston's US operations.[20]

1979

1979: On April 30 Deutsche Bank New York branch opens. https://www.db.com/usa/content/en/Chronicles.html

Deutsche Bank opened its first branch in NY in 1979 and was the first German bank to list on the NYSE (in October 2001). Deutsche Bank is the only investment bank physically located on Wall Street and one of the largest foreign-based employers in New York City. In the United States, it has over 11,000 employees in 28 states and 90 cities. https://www.db.com/usa/#3

List of All Banks / Germany (14) 
1 American Express Bank GmbH Germany www.amexbank.de  
2 Bankgesellschaft Berlin Germany www.bankgesellschaft.de  
3 Commerzbank Germany www.commerzbank.com  
4 Deutsche Bundesbank Germany www.bundesbank.de  
5 Deutsche Apotheker- und Arztebank Germany www.apobank.de  
6 Dresdner Kleinwort (DKIB) Germany www.dresdnerkleinwort.com  
7 Deutsche Bank AG Germany www.db.com  
8 Dresdner Bank Germany www.dresdner-bank.com  
9 DZ Bank Germany www.dzbank.de  
10 European Central Bank Germany www.ecb.eu  
11 IKB Deutsche Industriebank AG Germany www.ikb.de  
12 Kreditanstalt für Wiederaufbau Germany www.kfw.de  
13 Landesbank Berlin AG Germany www.lbb.de  
14 WestLB Westdeutsche Landesbank Germany www.westlb.de  


Deutsche Bank AG is a multinational bank operating worldwide and employing more than 67,400 people (January, 2007). Its headquarters, the Deutsche Bank Twin Towers are located in Frankfurt, Germany while its largest division, Corporate and Investment Banking is headquartered in London. Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. 

€ 1,126 billion in assets. 68,849 employees from 130 nations. Unparalleled financial services in 73 countries. A leader in Germany and Europe, the bank is continuously growing in North America, Asia, and key emerging markets. 
http://www.allbanks.org/main/Germany 

Headquarters: Frankfurt am Main, Germany 
Phone: +49 69 910-00 
Web: www.db.com  
http://www.allbanks.org/bank/477 

1979: Chase Manhattan purchases the Bank of Ireland’s 50% interest and renames it The Chase Bank (Ireland) Ltd.  https://www.jpmorgan.com/pages/jpmorgan/emea/uk/about/history
 

1980

 In the 1980s, financial advisory centered on mergers and acquisitions as major corporations moved to expand both domestically and internationally. Lehman Brothers acted as an advisor on several large U.S. and cross-border transactions, including Bendix/Allied, Chrysler/American Motors, General Foods/Philip Morris, and Genentech/Hoffman-LaRoche. http://www.library.hbs.edu/hc/lehman/history.html

Barclays helps finance the Hong Kong underground   http://www.timeline.barclays.com/content/1690/The-start-of-Barclays.html 
 

 Predecessor firm Hambrecht & Quist (H&Q) takes Apple Computer public.   https://www.jpmorgan.com/pages/company-history

The Hong Kong and Shanghai Banking Corporation was founded by Scotsman Sir Thomas Sutherland in the then British colony of Hong Kong on 3 March 1865, and in Shanghai a month later, benefiting from the start of trading into China, including opium trading. In 1980, HSBC acquired a 51% shareholding in US-based Marine Midland Bank, which it extended to full ownership in 1987.(information FOUND ON INTERNET)

Event Date Historical Event 
1812-06-01 MARINE TRUST COMPANY OF WESTERN NEW YORK located at 241 MAIN STREET, BUFFALO, NY was established as a State Member Bank. 
1965-09-01 MARINE TRUST COMPANY OF WESTERN NEW YORK was renamed to MARINE MIDLAND TRUST COMPANY OF WESTERN NEW YORK. 
1970-07-31 MARINE MIDLAND TRUST COMPANY OF WESTERN NEW YORK was renamed to MARINE MIDLAND BANK-WESTERN. 
1976-01-01 MARINE MIDLAND BANK-WESTERN was renamed to MARINE MIDLAND BANK and moved to ONE MARINE MIDLAND CENTER BUFFALO, NY. 
1980-02-01 MARINE MIDLAND BANK was renamed to MARINE MIDLAND BANK, N.A. and changed from State Member  Bank to National Bank. 
1993-12-31 MARINE MIDLAND BANK, N.A. was renamed to MARINE MIDLAND BANK and changed from National Bank to State Member Bank. 
1999-03-29 MARINE MIDLAND BANK was renamed to HSBC BANK USA and moved to ONE HSBC CENTER BUFFALO, NY. 
2004-07-01 HSBC BANK USA was renamed to HSBC BANK USA, NATIONAL ASSOCIATION and moved to 90 CHRISTIANA ROAD NEW CASTLE, DE and changed from State Member Bank to National Bank. 
2004-08-25 HSBC BANK USA, NATIONAL ASSOCIATION moved to 1105 NORTH MARKET ST WILMINGTON, DE. 
2008-12-20 HSBC BANK USA, NATIONAL ASSOCIATION moved to 1800 TYSONS BOULEVARD, SUITE 50 MCLEAN, VA. http://www.ffiec.gov/nicpubweb/nicweb/InstitutionHistory.aspx?parID_RSSD=413208&parDT_END=99991231

http://www.ffiec.gov/nicpubweb/nicweb/OrgHierarchySearchForm.aspx?parID_RSSD=413208&parDT_END=99991231

1982

1982: Opening of branches in Los Angeles and Chicago. https://www.db.com/usa/content/en/Chronicles.html
1982 – SASI
Swiss American Securities Inc. (SASI), a subsidiary of SKA which was founded in the 1970s, becomes a member of the New York Stock Exchange in November 1982. Thus SKA becomes the first Swiss bank to have a place on the New York Stock Exchange via its subsidiary.
https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html

1982: Northwest Bancorporation acquires consumer finance firm Dial Finance which is renamed Norwest Financial Service the following year.

Roberto Calvi  Italian banker found hanging from a London bridge

1982 Citibank commenced operations in New Zealand. https://www.citibank.com.au/aus/static/aboutus_history.htm

1983

1983- Citibank Re-entered China with a representative office in Shenzhen  http://www.citi.com.cn/html/en/about_us/Our_history.html

1983: Northwest Bancorporation is renamed Norwest Corporation.
1983: Largest U.S. bank heist to date takes place at a Wells Fargo depot in West Hartford, Connecticut.

Citi has had a presence in Spain since 1919 and was one of the first foreign banks to establish an office in the country. In 1983, Citi acquired Banco de Levante (Citibank España, sold to Banco Popular in 2014). Salomon Brothers opened its first office in Madrid in 1988, and Schroders established its Spanish headquarters in Madrid in 1990. In 1997, Smith Barney merged with Salomon Inc. to form Salomon Smith Barney. Citi merged Salomon Smith Barney with Schroders Plc in 2000, creating a leading pan-European investment bank. The Barcelona Service Centre opened in 1999 to provide operational support as well as sales services to Citi's consumer businesses across several European countries in different languages.
http://www.citigroup.com/citi/about/countrypresence/spain.html

1984
 

 Citibank  opened Beijing representative office   http://www.citi.com.cn/html/en/about_us/Our_history.html

1984 Salomon Brothers established in Australia.  https://www.citibank.com.au/aus/static/aboutus_history.htm
 

Kuhn, Loeb & Co.Investment bank founded 1867 by Abraham Kuhn and Solomon Loeb. it merged in 1977 with Lehman Brothers, making Lehman Brothers, Kuhn, Loeb Inc. This firm was then acquired in 1984 by Shearson/American Express, ending with the utterly awkward name, Shearson Lehman/American Express.  http://www.nndb.com/company/062/000124687/

In 1984, Lehman Brothers was acquired by American Express and merged with its retail brokerage Shearson to form Shearson Lehman Brothers. American Express began to divest its financial services by business lines in 1992 and eventually, in 1993, the firm was spun off and once again became known solely as Lehman Brothers. In 2000, Lehman celebrated its 150th anniversary. The company's World Trade Center offices were destroyed by the 2001 terrorist attacks, and eventually it moved into its new global headquarters in midtown Manhattan in 2002. Lehman Brothers became entangled in the subprime mortgage lending crisis, which led to its demise in 2008. On September 15, Lehman Brothers Holdings Inc. filed a Chapter 11 bankruptcy petition in federal court. The company's assets were subsequently sold to several other firms, including Barclays Bank, PLC and Nomura Holdings, Inc. http://www.library.hbs.edu/hc/lehman/history.html

1985

 Citibank opened Shanghai representative office http://www.citi.com.cn/html/en/about_us/Our_history.html

1985 Citibank granted full banking licence in Australia - County NatWest established in Australia.  https://www.citibank.com.au/aus/static/aboutus_history.htm

After the war, the bank refrained from establishing its own foreign operations. Business abroad was conducted primarily through relationships to correspondent banks and supported by a few representative offices and shareholdings. The EBIC, a group of European banks, was also committed to the correspondent bank principle, and it established - with the participation of Deutsche Bank - the European-American Banking Corporation and the European-American Bank & Trust Company in New York in 1968. They offered their services primarily to European companies with business activities in the United States and gave financing assistance to American branches of European companies. In 1974, Franklin National Bank, which had become insolvent, was taken over, which opened the door to retail banking. But in 1988 Deutsche Bank discontinued its involvement with the company.

In addition, the UBS-DB Corporation was established in 1971 and engaged not only in the custody and issuing business, but also in leasing transactions and the referral of shareholdings. Its name was changed to Atlantic Capital Corporation. In 1985 it developed into Deutsche Bank Capital Corporation.

It was first in 1979 that Deutsche Bank opened a New York branch.
https://www.db.com/usa/content/en/history.html
 

1986

Barclays becomes the first UK bank to have its shares listed on both the New York and Tokyo Stock Exchanges http://www.timeline.barclays.com/content/1690/The-start-of-Barclays.html 
 

1986: Chase opens an office in Bournemouth.   https://www.jpmorgan.com/pages/jpmorgan/emea/uk/about/history

1986: Wells Fargo acquires Crocker National Corporation from Midland Bank.
 

1987

 Barclays launches the UK’s first debit card   http://www.timeline.barclays.com/content/1690/The-start-of-Barclays.html 

1987: Wells Fargo acquires the personal trust business of Bank of America.

Weill Puts Things in Order at Commercial Credit Corporation 

3 INDICTED ON INSIDER CHARGES

 Kidder Faces Life After Siegel


JOHN SCHIFF, A PHILANTHROPIST AND INVESTMENT BANKER, DIES
By WILLIAM G. BLAIR
Published: May 10, 1987

John M. Schiff, investment banker, philanthropist and last of the senior partners of Kuhn, Loeb & Company, with which his family had been associated for more than a century, died yesterday at his home in Oyster Bay, L.I. He was 82 years old and also had an apartment in Manhattan and a home on the island of Jamaica.

Mr. Schiff's active banking career, which began in 1927, was almost entirely spent with Kuhn Loeb and ended only with the merger in 1977 of Kuhn Loeb with Lehman Brothers, another prestigious old-line Wall Street firm.

Mr. Schiff was named honorary chairman of the merged firm, Lehman Brothers Kuhn Loeb, and then served, until his death, as an advisory director of the firm that succeeded it in 1984, Shearson Lehman Brothers. That merger marked the end of 117 years of the Kuhn Loeb name in the banking business. Avid Horseman

In addition to banking, Mr. Schiff followed in the family tradition by serving on the boards of many corporations and charitable, academic and civic institutions.

He also was an avid horseman, before World War II as a fox hunter and polo player and afterward as a breeder of thoroughbreds in Kentucky and Florida and owner of a racing stable at Belmont Park. His racing silks were purple and white.

Mr. Schiff, whose surviving sister, Dorothy Schiff, is the former owner and publisher of The New York Post, was the third generation of his family to play a leading role in the destiny of Kuhn Loeb.

According to Stephen Birmingham's account in ''Our Crowd, the Great Jewish Families of New York,'' Mr. Schiff's grandfather, Jacob H. Schiff, came to this country from Germany in 1873, at the age of 26. Attains Partnership in 1875

As a son-in-law of Solomon Loeb, a founder of the firm that started out as a dry-goods business in Cincinnati before moving to New York in 1867, Jacob Schiff was admitted to a partnership in 1875. He quickly raised the firm to a position of eminence.

Jacob Schiff's partnership was passed on to his son, Mortimer L. Schiff, and from him to his and the former Adele Neustadt's only son, John Mortimer Schiff, who was born Aug. 26, 1904 in Roslyn, L.I.

Mr. Schiff graduated from the Taft School in 1921, from Yale University in 1925 and from New College at Oxford University in 1927. He began his banking career that year with the Bankers Trust Company in New York. After briefly working for the Missouri Pacific Railway Company in St. Louis, Mr. Schiff joined the family firm in 1929.

He became a partner in 1931 and a senior partner in 1946, after serving in the Navy during World War II. Mr. Schiff rose to the rank of commander and took part in the invasion of Normandy in 1944. Boy Scouts President

When Lillian D. Wald, founder of the Henry Street Settlement on the Lower East Side, stepped down as president in 1937, Mr. Schiff succeeded her. When the settlement's visiting nurse program, founded by Jacob Schiff, separated from the settlement a few years later, Mr. Schiff went with it. He was the first president and chairman of the renamed Visiting Nurse Service of New York.

Mr. Schiff was married in 1934 to Edith Brevoort Baker, who died in 1975. The next year, Mr. Schiff married Josephine Laimbeer Fell, widow of John R. Fell, who had been a partner in Lehman Brothers.

Besides his sister and his wife, Mr. Schiff is survived by two sons, David T., of Manhattan, and Peter G., of Oyster Bay, L.I.; a stepson, John R. Fell Jr. of Locust Valley, L.I.; a stepdaughter, Natalie Fell Spencer of Middlebury, Vt., six grandchildren and seven stepgrandchildren.

A funeral service is to be held at 10 A.M. Tuesday at Temple Emanu-El, Fifth Avenue and 65th Street.

photo of John M. Schiff

© 2017 The New York Times Company

http://www.nytimes.com/1987/05/10/obituaries/john-schiff-a-philanthropist-and-investment-banker-dies.html
 

1988

Shenzhen Citibank representative office upgraded to branch  http://www.citi.com.cn/html/en/about_us/Our_history.html

---Citigroup Inc. (Citigroup and, together with its subsidiaries, the Compan is a diversified global financial services holding company whose businesses provide a broad range of financial services to consumer and corporate customers with some 200 million customer accounts doing business in more than 100 countries. Citigroup was incorporated in 1988 under the laws of the State of Delaware.
http://www.citigroup.com/citi/investor/data/q0401c.pdf  [see 1998]

After the war, the bank refrained from establishing its own foreign operations. Business abroad was conducted primarily through relationships to correspondent banks and supported by a few representative offices and shareholdings. The EBIC, a group of European banks, was also committed to the correspondent bank principle, and it established - with the participation of Deutsche Bank - the European-American Banking Corporation and the European-American Bank & Trust Company in New York in 1968. They offered their services primarily to European companies with business activities in the United States and gave financing assistance to American branches of European companies. In 1974, Franklin National Bank, which had become insolvent, was taken over, which opened the door to retail banking. But in 1988 Deutsche Bank discontinued its involvement with the company.

In addition, the UBS-DB Corporation was established in 1971 and engaged not only in the custody and issuing business, but also in leasing transactions and the referral of shareholdings. Its name was changed to Atlantic Capital Corporation. In 1985 it developed into Deutsche Bank Capital Corporation.

It was first in 1979 that Deutsche Bank opened a New York branch.
https://www.db.com/usa/content/en/history.html

1988: Wells Fargo acquires Barclays Bank of California from Barclays plc.
 

1988 – Stake acquired in CSFBI
First Boston Inc. becomes CS First Boston with a takeover of 44.5% of CS First Boston by CS Holding. 1990 sees a takeover of a majority holding of CS First Boston.
https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html

Citi has had a presence in Spain since 1919 and was one of the first foreign banks to establish an office in the country. In 1983, Citi acquired Banco de Levante (Citibank España, sold to Banco Popular in 2014). Salomon Brothers opened its first office in Madrid in 1988, and Schroders established its Spanish headquarters in Madrid in 1990. In 1997, Smith Barney merged with Salomon Inc. to form Salomon Smith Barney. Citi merged Salomon Smith Barney with Schroders Plc in 2000, creating a leading pan-European investment bank. The Barcelona Service Centre opened in 1999 to provide operational support as well as sales services to Citi's consumer businesses across several European countries in different languages.
http://www.citigroup.com/citi/about/countrypresence/spain.html

1989

 1989 – CS Holding
CS Holding, set up in 1982 as a sister company to SKA, becomes the parent company of the Group.
https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html

J.P. Morgan ranks among Fortune's 50 Best Companies for Minorities. The firm is regularly recognized as a leading employer of women, minorities, and LGBT employees.             https://www.jpmorgan.com/pages/company-history

Alfred Herrhausen  Chairman of the Deutsche Bank, West Germany's largest bank, was assassinated on the streets of Frankfurt.

1990

1917-04-25 FIRST NATIONAL CITY BANK OF NEW YORK located at NEW YORK, NY was established as a National Bank. 
1962-01-19 FIRST NATIONAL CITY BANK OF NEW YORK was renamed to FIRST NATIONAL CITY BANK. 
1976-03-01 FIRST NATIONAL CITY BANK was renamed to CITIBANK, N.A. and moved to 5 WALL STREET NEW YORK, NY. 
1978-12-30 CITIBANK, N.A. moved to 55 WALL STREET NEW YORK, NY. 
1990-07-05 CITIBANK, N.A. moved to 399 PARK AVENUE NEW YORK, NY. 
2006-10-01 CITIBANK, N.A. moved to 3900 PARADISE ROAD, SUITE 127 LAS VEGAS, NV. 
2011-07-01 CITIBANK, N.A. moved to 701 EAST 60TH STREET NORTH SIOUX FALLS, SD. 
http://www.ffiec.gov/nicpubweb/nicweb/InstitutionHistory.aspx?parID_RSSD=476810&parDT_END=99991231 

1990: Deutsche Bank Government Securities becomes the only German bank to be awarded "primary dealer" status by the Federal Reserve Bank.https://www.db.com/usa/content/en/Chronicles.html
 

 1990 – Bank Leu
Acquisition of Bank Leu.   https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html   

 J.P. Morgan plays an active role in the negotiations with Mexico to restructure nearly $50 billion in medium- and long-term commercial bank debt. A first in the market, the new bonds become known as Brady Bonds.
 
https://www.jpmorgan.com/pages/company-history

Citi has had a presence in Spain since 1919 and was one of the first foreign banks to establish an office in the country. In 1983, Citi acquired Banco de Levante (Citibank España, sold to Banco Popular in 2014). Salomon Brothers opened its first office in Madrid in 1988, and Schroders established its Spanish headquarters in Madrid in 1990. In 1997, Smith Barney merged with Salomon Inc. to form Salomon Smith Barney. Citi merged Salomon Smith Barney with Schroders Plc in 2000, creating a leading pan-European investment bank. The Barcelona Service Centre opened in 1999 to provide operational support as well as sales services to Citi's consumer businesses across several European countries in different languages.
http://www.citigroup.com/citi/about/countrypresence/spain.html

1991

Citibank  upgraded representative office in Shanghai (China) to full branch status     http://www.citi.com.cn/html/en/about_us/Our_history.html

In 1991, Manufacturers Hanover Corp. merged with Chemical Banking Corp., under the name of Chemical Banking Corp., then the second-largest banking institution in the United States. http://www.jpmorganchase.com/corporate/About-JPMC/jpmorgan-history

Important intermediary steps were Deutsche Bank North America Holding in 1991 and the organization of Deutsche Morgan Grenfell in 1995. However, it became clear that the bank would not be able to achieve the size necessary for this line of business through organic growth. Deutsche Bank thus began to look for an American bank it could combine with, found the New York-based Bankers Trust, and acquired it in 1999 old-style bankers. https://www.db.com/usa/content/en/history.html

1992

1992: Deutsche Bank's activities in the USA were consolidated under the umbrella of Deutsche Bank North America Holding. https://www.db.com/usa/content/en/Chronicles.html

Citi has had a presence in Belgium since 1919 and opened its headquarters in Brussels in 1962. In 1969, Citibank took over Crédivit Bank and Financia Bank. Crédivit merged with Financia to form Famibank in 1977. After taking over Banque Copine and Banque Sud Belge, Banque Sud Belge merged with Famibank, creating Citibank Belgium in 1992. In 2012 the Citibank consumer franchise was sold to Credit Mutel Nord Europe. http://www.citigroup.com/citi/about/countrypresence/belgium.html

Citi's history in Russia began almost 100 years ago and is closely tied to the dramatic events that unfolded during that period of the country's history. Citi has always acted as a unifying link between the Russian economy and other world economies and played an important role in the development of the country's trade and external economic relations.

Citi first entered Russia on the eve of the Revolution. In 1916, Citi, then-called National City Bank (NCB), underwrote bonds to support the government of the Russian Empire as World War I took its toll on the country's resources. Believing that Russia would soon emerge from the war and embark on a period of rapid economic development, NCB executives established a branch in Petrograd on January 15, 1917. Just two months later, the tsar was forced to abdicate, and a new, liberal government took power. Even as the battles raged in the streets of Petrograd, the bank established a new branch in Moscow in November. By December, the new Bolshevik government had taken control of the major cities of European Russia. On February 3, 1919, the bank established a branch in the city of Vladivostok in the Far East, a meeting point for retreating soldiers and refugees. On March 13, 1920, all three branches were closed.

Between 1920 and 1970, diplomatic and economic challenges – followed by WWII and then the Cold War – prevented the bank from re-entering the country. In the 1970s, however, during the period of détente, U.S.-Soviet trade increased, and there was greater contact between the two countries. In June 1973, the Soviet government gave Citi permission to establish a limited presence in the U.S.S.R., and, in 1974, the bank opened a representative office in Moscow on Karl Marx Avenue. Six years later, with the onset of the Afghanistan War and increasing tensions between the East and the West, the office was shut down. In 1992, following the collapse of the Soviet Union and emergence of the Russian Federation on the global marketplace, Citi once again had the opportunity to open a representative office in Moscow.

Having opened its office on October 1, 1992, by November 1, 1993, the bank had received all the necessary licenses to provide banking services in the Russian Federation, thus becoming one of the first international banks to enter the Russian market. In January 1994, Citi was inaugurated as a financial institution focused on corporate banking services, financing and trade. In 1995, Citi advised Mosenergo – the largest generating company operating on fossil fuel in Russia – on the first-ever ADR issue by a Russian company. It was Citi Russia's first major deal after its opening. On February 7, 1996, the bank opened a branch in St. Petersburg. Citi engaged in business and development financing for government bodies and a wide spectrum of corporate clients.

In 1998, Russia was hit by a financial crisis; although many other international banks left, Citi remained. As a result, Citi Russia became stronger and greatly expanded its presence in the Russian market. In November 2002, the bank launched a retail banking business and began to expand its presence with new branches and sales centers. By 2010, Citi's retail operations in Russia were serving more than one million Russian clients.
http://www.citigroup.com/citi/about/countrypresence/russia.html

1993

Citibank, The first international bank to move its China headquarters to the mainland from Hong Kong  http://www.citi.com.cn/html/en/about_us/Our_history.html

1993 – Volksbank
Acquisition of Swiss Volksbank. https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html                                

CITIGROUP INC. (1951350) acquires TRAVELERS CORPORATION (1246092) 1993-12-31 The acquired institution sold its assets to the acquiring institution. http://www.ffiec.gov/nicpubweb/nicweb/AcquisitionForm.aspx?parID_RSSD=1951350&parDT_END=99991231
 

1993-12-31 PRIMERICA CORPORATION was renamed to TRAVELERS INC..


Citi set its first footprint into Vietnam in 1975, and then started up a representative office in Hanoi in 1993. A year later, Citi became the first U.S financial institution licensed for branch opening and full branch establishment in Hanoi a year later.
With two branches located in the country‘s top cities of Hanoi and Ho Chi Minh.... https://www.citibank.com.vn/english/footer/about_us.htm

1994

On September 13, 1994, the Chairman of the Board of  Governors of the Federal Reserve System assumed the seat on the Board of Directors of the Bank for International Settlements (BIS) designated for the central bank of the United States. The central bank of the United States has had the right to be represented on the BIS's Board of 
Directors since the BIS was established more than sixty years ago. For a variety of reasons, however, the Federal 
Reserve had, until this year, never exercised its right.

The Federal Reserve Board's decision to assume representation on the BIS's Board was made in recognition 
of the increasingly important role of the BIS as the principal forum for consultation, cooperation, and 
information exchange among central bankers and in anticipation of a broadening of that role. Federal Reserve 
membership on the BIS Board marks a new chapter in the relationship of the Federal Reserve System with the BIS. http://www.thefreelibrary.com/The+Bank+for+International+Settlements+and+the+Federal+Reserve.-a015850047  

1994 Member Central Banks of the Bank for International 
Settlements Country Central bank

1. Australia Reserve Bank of Australia
2. Austria Austrian National Bank
3. Belgium National Bank of Belgium
4. Bulgaria Bulgarian National Bank
5. Canada Bank of Canada
6. Czech Republic Czech National Bank
7. Denmark National Bank of Denmark
8. Estonia Bank of Estonia
9. Finland Bank of Finland
10. France Bank of France
11. Germany German Bundesbank
12. Greece Bank of Greece
13. Hungary National Bank of Hungary
14. Iceland Central Bank of Iceland
15. Ireland Central Bank of Ireland
16. Italy Bank of Italy
17. Japan Bank of Japan
18. Latvia Bank of Latvia
19. Lithuania Bank of Lithuania
20. Netherlands The Netherlands Bank
21. Norway Central Bank of Norway
22. Poland National Bank of Poland
23. Portugal Bank of Portugal
24. Romania National Bank of Romania
25. Slovakia National Bank of Slovakia
26. South Africa South African Reserve Bank
27. Spain Bank of Spain
28. Sweden Bank of Sweden
29. Switzerland Swiss National Bank
30. Turkey Central Bank of the
31. Republic of Turkey
32. United Kingdom Bank of England
33. United States Federal Reserve System
34. Yugoslavia(1) National Bank of Yugoslavia

1994 Basis of
Member membership

Willem F. Duisenberg First European Bank President

Elected
President, The Netherlands Bank
Chariman, Board of Directors of the
BIS, and President of the BIS

Carlo Azeglio Ciampi Appointed
Former governor, Bank of Italy
Vice Chairman, Board of Directors
of the BIS

Urban Backstrom Elected
Governor, Bank of Sweden

Bernard Clappier Appointed
Former governor, Bank of France

Antonio Fazio Ex officio
Governor, Bank of Italy

Edward A. J. George Ex officio
Governor, Bank of England

Alan Greenspan Ex officio
Chairman, Board of Governors of the
Federal Reserve System

Lord Kingsdown Appointed
[formerly Robin Leigh-Pemberton]
Former governor, Bank of England

Markus Lusser Elected
President, Swiss National Bank

William J. McDonough Appointed
President, Federal Reserve Bank of
New York

Yasushi Mieno Elected
Governor, Bank of Japan

Helmut Schlesinger Appointed
Former president, German Bundesbank

Jean-Claude Trichet Ex officio
Governor, Bank of France

Hans Tietmeyer Ex officio
President, German Bundesbank

Gordon Thiessen Elected
Governor, Bank of Canada

Alfons Verplaetse Ex officio
Governor, National Bank of Belgium

Philippe Wilmes Appointed
Member of the board of regents,
National Bank of Belgium
http://www.thefreelibrary.com/The+Bank+for+International+Settlements+and+the+Federal+Reserve.-a015850047 

1994 – Swiss Re
Launch of strategic alliance with Swiss Re.   
https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html

1995

1995: Wells Fargo becomes the first major financial services firm to offer Internet banking.

Beijing (China) Citibank representative office upgraded to branch  http://www.citi.com.cn/html/en/about_us/Our_history.html

 1995 – NAB
Takeover of Neue Aargauer Bank (NAB).
https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html

Kidder Peabody Group Inc. sold

1995-12-31 TRAVELERS INC. was renamed to TRAVELERS GROUP INC. and moved to 388 GREENWICH STREET NEW YORK, NY.

In 1995, First Chicago Corp. merged with NBD Bancorp., forming First Chicago NBD, the largest banking institution based in the Midwest.
http://www.jpmorganchase.com/corporate/About-JPMC/jpmorgan-history

Important intermediary steps were Deutsche Bank North America Holding in 1991 and the organization of Deutsche Morgan Grenfell in 1995. However, it became clear that the bank would not be able to achieve the size necessary for this line of business through organic growth. Deutsche Bank thus began to look for an American bank it could combine with, found the New York-based Bankers Trust, and acquired it in 1999 old-style bankers. https://www.db.com/usa/content/en/history.html 

Citi's history in Russia began almost 100 years ago and is closely tied to the dramatic events that unfolded during that period of the country's history. Citi has always acted as a unifying link between the Russian economy and other world economies and played an important role in the development of the country's trade and external economic relations.

Citi first entered Russia on the eve of the Revolution. In 1916, Citi, then-called National City Bank (NCB), underwrote bonds to support the government of the Russian Empire as World War I took its toll on the country's resources. Believing that Russia would soon emerge from the war and embark on a period of rapid economic development, NCB executives established a branch in Petrograd on January 15, 1917. Just two months later, the tsar was forced to abdicate, and a new, liberal government took power. Even as the battles raged in the streets of Petrograd, the bank established a new branch in Moscow in November. By December, the new Bolshevik government had taken control of the major cities of European Russia. On February 3, 1919, the bank established a branch in the city of Vladivostok in the Far East, a meeting point for retreating soldiers and refugees. On March 13, 1920, all three branches were closed.

Between 1920 and 1970, diplomatic and economic challenges – followed by WWII and then the Cold War – prevented the bank from re-entering the country. In the 1970s, however, during the period of détente, U.S.-Soviet trade increased, and there was greater contact between the two countries. In June 1973, the Soviet government gave Citi permission to establish a limited presence in the U.S.S.R., and, in 1974, the bank opened a representative office in Moscow on Karl Marx Avenue. Six years later, with the onset of the Afghanistan War and increasing tensions between the East and the West, the office was shut down. In 1992, following the collapse of the Soviet Union and emergence of the Russian Federation on the global marketplace, Citi once again had the opportunity to open a representative office in Moscow.

Having opened its office on October 1, 1992, by November 1, 1993, the bank had received all the necessary licenses to provide banking services in the Russian Federation, thus becoming one of the first international banks to enter the Russian market. In January 1994, Citi was inaugurated as a financial institution focused on corporate banking services, financing and trade. In 1995, Citi advised Mosenergo – the largest generating company operating on fossil fuel in Russia – on the first-ever ADR issue by a Russian company. It was Citi Russia's first major deal after its opening. On February 7, 1996, the bank opened a branch in St. Petersburg. Citi engaged in business and development financing for government bodies and a wide spectrum of corporate clients.

In 1998, Russia was hit by a financial crisis; although many other international banks left, Citi remained. As a result, Citi Russia became stronger and greatly expanded its presence in the Russian market. In November 2002, the bank launched a retail banking business and began to expand its presence with new branches and sales centers. By 2010, Citi's retail operations in Russia were serving more than one million Russian clients.
http://www.citigroup.com/citi/about/countrypresence/russia.html

Headley Brown Jamaican Banker

1996

1996: Wells Fargo acquires First Interstate Bancorp.

1996 – Winterthur
Launch of strategic alliance with Winterthur Group. 1997 sees the merger of Credit Suisse Group with Winterthur. 
https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html

100 LARGEST FDIC, FRB, AND OCC TRUST INSTITUTIONS

On March 31, 1996, The Chase Manhattan Corporation ("Old Chase") merged into Chemical Banking Corporation ("Chemical") (the "Merger"). Both Old Chase and Chemical were incorporated in Delaware. http://www.nyc.gov/html/tat/downloads/pdf/9999det0205.pdf 

The firm jointly leads the first “century” bond for a sovereign borrower – a 100-year, $100 million issue for the People’s Republic of China. https://www.jpmorgan.com/pages/company-history

In 1996, The Chase Manhattan Corp. merged with Chemical Banking Corp., under the name of The Chase Manhattan Corp., creating what was then the largest bank holding company in the United States. http://www.jpmorganchase.com/corporate/About-JPMC/jpmorgan-history

John L. Loeb Sr  I threw this one in to keep bankers straight......Interesting family history of bankers

1997

 1997 – Credit Suisse Group
CS Holding becomes Credit Suisse Group, and begins operational activities on January 1, 1997.  https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html 

Kevin J. Davis former  Citibank employee goes to work at    Office of Thrift Supervision OTS 

1997-11-26 TRAVELERS GROUP INC. changed from Domestic Entity Other to Savings & Loan Holding Company.

Citi has had a presence in Spain since 1919 and was one of the first foreign banks to establish an office in the country. In 1983, Citi acquired Banco de Levante (Citibank España, sold to Banco Popular in 2014). Salomon Brothers opened its first office in Madrid in 1988, and Schroders established its Spanish headquarters in Madrid in 1990. In 1997, Smith Barney merged with Salomon Inc. to form Salomon Smith Barney. Citi merged Salomon Smith Barney with Schroders Plc in 2000, creating a leading pan-European investment bank. The Barcelona Service Centre opened in 1999 to provide operational support as well as sales services to Citi's consumer businesses across several European countries in different languages.
http://www.citigroup.com/citi/about/countrypresence/spain.html

1997 Salomon Brothers merged with Smith Barney Holdings to form Salomon Smith Barney Holdings in US. https://www.citibank.com.au/aus/static/aboutus_history.htm 

1998

1998: Wells Fargo Bank merges with Norwest Corp. of Minneapolis.

NationsBank acquires BankAmerica Corp to create the first coast-to-coast retail banking franchise - Bank of America          http://www.ustrust.com/ust/pages/about-us.aspx

1998: On November 30 Deutsche Bank announces the planned acquisition of Banker's Trust. It is the largest entry a German bank has ever made into the U.S. financial market. https://www.db.com/usa/content/en/Chronicles.html 

Former  Citibank employee    Darina McKelvie Named Head of External Affairs at OTS

Salomon (NYSE:SB) was acquired by Travelers Group in 1998

1998-10-08 TRAVELERS GROUP INC. was renamed to CITIGROUP INC. and moved to 153 EAST 53RD STREET NEW YORK, NY and changed from Savings & Loan Holding Company to Bank Holding Company.

1998-10-08 COMMERCIAL CREDIT CORPORATION located at 
BALTIMORE, MD was established as a Finance Company.

Citigroup Inc. was formed in October 1998 as a result of the merger between Citicorp and Travelers Group Inc. http://www.federalreserve.gov/boarddocs/press/bhc/1998/19980923/19980923.pdf  [see 1988]

1998 Salomon Smith Barney acquired County NatWest in Australia. https://www.citibank.com.au/aus/static/aboutus_history.htm

1998 Salomon Smith Barney acquired JP Morgan Asset Management in Australia.  https://www.citibank.com.au/aus/static/aboutus_history.htm

October 1998 Citigroup formed by merger of Citicorp and Travelers Group in US. https://www.citibank.com.au/aus/static/aboutus_history.htm 

Citigroup President, Heir Apparent to Top Job, Quits Abruptly

J.P. MORGAN IN RUSSIA

Citibank -The first international bank to offer integrated nationwide Renminbi (RMB) cash management 
Opened Guangzhou branch  http://www.citi.com.cn/html/en/about_us/Our_history.html

In 1998, Banc One Corp. merged with First Chicago NBD, under the name of Bank One Corp. After a subsequent merger, Bank One became the largest financial services firm in the Midwest, the fourth-largest bank in the U. S. and the world's largest Visa credit card issuer. http://www.jpmorganchase.com/corporate/About-JPMC/jpmorgan-history

For immediate release
September 23, 1998
The Federal Reserve Board today announced its conditional approval of applications by Travelers Group Inc., New York, New York, to become a bank holding company by acquiring Citicorp, New York, New York, and its
bank and nonbank subsidiaries, including Citibank, N.A., New York, New York; and to retain certain nonbanking subsidiaries and investments of Travelers, including Salomon Smith Barney Inc., New York, New York, and Travelers Bank & Trust, fsb, Newark, Delaware.
https://www.federalreserve.gov/boarddocs/press/bhc/1998/19980923/19980923.pdf

On September 30, 1998, BankAmerica Corp. ("BAC"), a former Delaware corporation with its principal place of business in San Francisco, California, merged with NationsBank Corp. ("NationsBank"), a former North Carolina corporation headquartered in Charlotte, North Carolina, to form Bank of America Corp. Both NationsBank and BAC had common stock registered with the Commission pursuant to Section 12(b) of the Exchange Act and were listed, among other places, on the New York Stock Exchange ("NYSE"). Bank of America Corporation ("Bank of America") is a Delaware corporation with its principal place of business in Charlotte, North Carolina, and is a bank holding company and a financial holding company. Bank of America's common stock is registered with the Commission pursuant to Section 12(b) of the Exchange Act and is listed, among other places, on the NYSE.
https://www.sec.gov/litigation/admin/34-44613.htm

Citi's history in Russia began almost 100 years ago and is closely tied to the dramatic events that unfolded during that period of the country's history. Citi has always acted as a unifying link between the Russian economy and other world economies and played an important role in the development of the country's trade and external economic relations.

Citi first entered Russia on the eve of the Revolution. In 1916, Citi, then-called National City Bank (NCB), underwrote bonds to support the government of the Russian Empire as World War I took its toll on the country's resources. Believing that Russia would soon emerge from the war and embark on a period of rapid economic development, NCB executives established a branch in Petrograd on January 15, 1917. Just two months later, the tsar was forced to abdicate, and a new, liberal government took power. Even as the battles raged in the streets of Petrograd, the bank established a new branch in Moscow in November. By December, the new Bolshevik government had taken control of the major cities of European Russia. On February 3, 1919, the bank established a branch in the city of Vladivostok in the Far East, a meeting point for retreating soldiers and refugees. On March 13, 1920, all three branches were closed.

Between 1920 and 1970, diplomatic and economic challenges – followed by WWII and then the Cold War – prevented the bank from re-entering the country. In the 1970s, however, during the period of détente, U.S.-Soviet trade increased, and there was greater contact between the two countries. In June 1973, the Soviet government gave Citi permission to establish a limited presence in the U.S.S.R., and, in 1974, the bank opened a representative office in Moscow on Karl Marx Avenue. Six years later, with the onset of the Afghanistan War and increasing tensions between the East and the West, the office was shut down. In 1992, following the collapse of the Soviet Union and emergence of the Russian Federation on the global marketplace, Citi once again had the opportunity to open a representative office in Moscow.

Having opened its office on October 1, 1992, by November 1, 1993, the bank had received all the necessary licenses to provide banking services in the Russian Federation, thus becoming one of the first international banks to enter the Russian market. In January 1994, Citi was inaugurated as a financial institution focused on corporate banking services, financing and trade. In 1995, Citi advised Mosenergo – the largest generating company operating on fossil fuel in Russia – on the first-ever ADR issue by a Russian company. It was Citi Russia's first major deal after its opening. On February 7, 1996, the bank opened a branch in St. Petersburg. Citi engaged in business and development financing for government bodies and a wide spectrum of corporate clients.

In 1998, Russia was hit by a financial crisis; although many other international banks left, Citi remained. As a result, Citi Russia became stronger and greatly expanded its presence in the Russian market. In November 2002, the bank launched a retail banking business and began to expand its presence with new branches and sales centers. By 2010, Citi's retail operations in Russia were serving more than one million Russian clients.
http://www.citigroup.com/citi/about/countrypresence/russia.html

1999

file:///C:/Documents%20and%20Settings/Owner/My%20Documents/My%20Pictures/bcbs179%20(1).pdf

January 1999 SSB Asset Management merge with Citibank Global Asset Management - Diners Club Australia fully acquired by Citibank. https://www.citibank.com.au/aus/static/aboutus_history.htm

October 1999 Salomon Smith Barney acquires Private Client Stockbroking business via acquisition of ANZ retail brokerage. https://www.citibank.com.au/aus/static/aboutus_history.htm

The Group of Twenty (also known as the G-20 or G20) is an international forum for the governments and central bank governors from 20 major economies. The members, shown highlighted on the map at right, include 19 individual countries—Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom and the United States—along with the European Union (EU). The EU is represented by the European Commission and by the European Central Bank.

The Group of Twenty (also known as the G-20 or G20) is an international forum for the governments and central bank governors from 20 major economies. The members, shown highlighted on the map at right, include 19 individual countries—Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom and the United States—along with the European Union (EU). The EU is represented by the European Commission and by the European Central Bank.

The G-20 was founded in 1999 with the aim of studying, reviewing, and promoting high-level discussion of policy issues pertaining to the promotion of international financial stability. It seeks to address issues that go beyond the responsibilities of any one organization. Collectively, the G-20 economies account for around 85% of the gross world product (GWP), 80% of world trade (or, if excluding EU intra-trade, 75%), and two-thirds of the world population.[2] The G-20 heads of government or heads of state have periodically conferred at summits since their initial meeting in 2008.

With the G-20 growing in stature after the 2008 Washington summit, its leaders announced on 25 September 2009, that the group would replace the G8 as the main economic council of wealthy nations.[3] Since its inception, the G-20's membership policies have been criticized by numerous intellectuals,[4][5] and its summits have been a focus for major protests by anti-globalists, nationalists and others.[6]

The heads of the G-20 nations met semi-annually at G-20 summits between 2008 and 2011. Since the November 2011 Cannes summit, all G-20 summits have been held annually.[2] In December 2014, Turkey took over the presidency of the G-20 from Australia, and will host the group's 2015 summit in Antalya.
 

1999: On June 4 the acquisition of Bankers Trust is completed. https://www.db.com/usa/content/en/Chronicles.html

Important intermediary steps were Deutsche Bank North America Holding in 1991 and the organization of Deutsche Morgan Grenfell in 1995. However, it became clear that the bank would not be able to achieve the size necessary for this line of business through organic growth. Deutsche Bank thus began to look for an American bank it could combine with, found the New York-based Bankers Trust, and acquired it in 1999 old-style bankers.  https://www.db.com/usa/content/en/history.html

Citi has had a presence in Spain since 1919 and was one of the first foreign banks to establish an office in the country. In 1983, Citi acquired Banco de Levante (Citibank España, sold to Banco Popular in 2014). Salomon Brothers opened its first office in Madrid in 1988, and Schroders established its Spanish headquarters in Madrid in 1990. In 1997, Smith Barney merged with Salomon Inc. to form Salomon Smith Barney. Citi merged Salomon Smith Barney with Schroders Plc in 2000, creating a leading pan-European investment bank. The Barcelona Service Centre opened in 1999 to provide operational support as well as sales services to Citi's consumer businesses across several European countries in different languages.
http://www.citigroup.com/citi/about/countrypresence/spain.html

Gramm-Leach-Bliley Act 1999
 

1999-05-21 COMMERCIAL CREDIT CORPORATION was 
renamed to CITIFINANCIAL SERVICES, INC..

 COMMERCIAL CREDIT CORPORATION name was changed to CITIFINANCIAL, INC. ,on 05-27-1999;Entity type: Foreign Corporation;Identification Number: 520278518; Date of Registration in Massachusetts: 09-27-1983 http://corp.sec.state.ma.us/CorpWeb/CorpSearch/CorpSummary.aspx?FEIN=520278518&SEARCH_TYPE=4

Note: COMMERCIAL CREDIT CORPORATION
Document Number139497 
Date Filed 08/17/1940
Effective Date None 
Status Inactive 
VOLUNTARY DISSOLUTION 06/14/1947 
http://search.sunbiz.org/Inquiry/CorporationSearch/SearchResultDetail?inquirytype=EntityName&directionType=Initial&searchNameOrder=COMMERCIALCREDIT%201394970&aggregateId=domp-139497-29bbea5d-84f6-4aad-8f1b-e7e4c468e1fb&searchTerm=COMMERCIAL%20CREDIT%20CORPORATION&listNameOrder=COMMERCIALCREDIT%201394970

Edmond Safra billionaire banker ;At the time of his death, Safra  was selling his controlling stakes in both Safra Republic and Republic New York Corp. (RNB) -- banks he founded and often referred to as his "children" -- to Britain's HSBC Holdings for $3 billion. 

HSBC expanded its presence in the United States

Citibank- The first international bank to establish a centralized customer service center (in China) http://www.citi.com.cn/html/en/about_us/Our_history.html 
 

-The 1933 Glass-Steagall Act erected barriers keeping commercial banks separate from investment banks. Its restrictions were repealed in 1999.

End of an era for Goldman

 Edmond Safra billionaire banker ;At the time of his death, Safra  was selling his controlling stakes in both Safra Republic and Republic New York Corp. (RNB) -- banks he founded and often referred to as his "children" -- to Britain's HSBC Holdings for $3 billion. 

Important intermediary steps were Deutsche Bank North America Holding in 1991 and the organization of Deutsche Morgan Grenfell in 1995. However, it became clear that the bank would not be able to achieve the size necessary for this line of business through organic growth. Deutsche Bank thus began to look for an American bank it could combine with, found the New York-based Bankers Trust, and acquired it in 1999 old-style bankers.

2000

2000: Wells Fargo Bank acquires National Bank of Alaska.
2000: Wells Fargo acquires First Security Corporation.

In 2000, J.P. Morgan & Co. Incorporated merged with The Chase Manhattan Corp., effectively combining four of the largest and oldest money center banking institutions in New York City (J.P. Morgan, Chase, Chemical and Manufacturers Hanover) into one firm under the name of J.P. Morgan Chase & Co. http://www.jpmorganchase.com/corporate/About-JPMC/jpmorgan-history

2000-03-13 CITIGROUP INC. changed from Bank Holding Company to Financial Holding Company - Domestic. 
2000-09-11 CITIGROUP INC. moved to 399 PARK AVENUE NEW YORK, NY. 
http://www.ffiec.gov/nicpubweb/nicweb/InstitutionHistory.aspx?parID_RSSD=1951350&parDT_END=99991231 

J.P. Morgan merges with The Chase Manhattan Corporation and is named JPMorgan Chase and Co. Four years later, the company merges with Bank One, creating a global financial services leader.  
https://www.jpmorgan.com/pages/company-history

Citi has had a presence in Spain since 1919 and was one of the first foreign banks to establish an office in the country. In 1983, Citi acquired Banco de Levante (Citibank España, sold to Banco Popular in 2014). Salomon Brothers opened its first office in Madrid in 1988, and Schroders established its Spanish headquarters in Madrid in 1990. In 1997, Smith Barney merged with Salomon Inc. to form Salomon Smith Barney. Citi merged Salomon Smith Barney with Schroders Plc in 2000, creating a leading pan-European investment bank. The Barcelona Service Centre opened in 1999 to provide operational support as well as sales services to Citi's consumer businesses across several European countries in different languages.
http://www.citigroup.com/citi/about/countrypresence/spain.html

September 2000 Salomon Smith Barney expands Private Client Stockbroking business via acquisition of HSBC retail brokerage.  https://www.citibank.com.au/aus/static/aboutus_history.htm

2001

REPORT ON CONSOLIDATION
IN THE FINANCIAL SECTOR
2001 463 pages
https://www.bis.org/publ/gten05.pdf

2001: Wells Fargo acquires H.D. Vest Financial Services.

Citigroup Inc., the largest U.S. financial services company, said Monday it agreed to buy  European American Bank from Dutch banking company ABN Amro Holding for $1.6 billion in cash to gain more branches in the New York area. http://articles.latimes.com/2001/feb/13/business/fi-24719

FEDERAL RESERVE SYSTEM
The Chase Manhattan Bank
New York, New York
Order Approving the Merger of Banks
The Chase Manhattan Bank (AChase Bank@), a state member bank,
has applied under section 18(c) of the Federal Deposit Insurance Act (12 U.S.C.
' 1828(c)) (the "Bank Merger Act") to merge with Chase Bank of Texas B San
Angelo, National Association, San Angelo, Texas (“Chase Texas”). Chase Bank
would be the surviving institution.1
http://www.federalreserve.gov/boarddocs/press/bhc/2001/20010709/attachment.pdf 

Bin Laden Family Could Profit From a Jump In Defense Spending Due to Ties to U.S. Bank 

2001: On October 3 - three weeks after the terror attacks on September 11 - trading in the Deutsche Bank share starts on the New York Stock Exchange. https://www.db.com/usa/content/en/Chronicles.html
 

STATE OF NEW YORK INSURANCE DEPARTMENT
REPORT ON EXAMINATION OF THE FIRST CITICORP LIFE INSURANCE COMPANY AS OF DECEMBER 31, 2001 
http://www.dfs.ny.gov/insurance/exam_rpt/ny801c45.pdf

2001 Failed Bank List

The FDIC is often appointed as receiver for failed banks. This page contains useful information for the customers and vendors of these banks. This includes information on the acquiring bank (if applicable), how your accounts and loans are affected, and how vendors can file claims against the receivership. Failed Financial Institution Contact Search displays point of contact information related to failed banks.

This list includes banks which have failed since October 1, 2000. To search for banks that failed prior to those on this page, visit this link: Failures and Assistance Transactions
Showing 1 to 25 of 553 entries
https://www.fdic.gov/bank/individual/failed/banklist.html

January 2001 Opening of Citigroup Centre, 2 Park Street, Sydney.  https://www.citibank.com.au/aus/static/aboutus_history.htm

Robert Theodore Ammon New York financier and investment banker

 

2002

Sarbanes-Oxley Act of 2002

   2002 – New Organizational Structure    
Group organizational structure is streamlined to create two business units: Credit Suisse Financial Services and Credit Suisse First Boston. https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html

May 2002 Launch of Citigold Wealth Management Banking. https://www.citibank.com.au/aus/static/aboutus_history.htm

Citi's history in Russia began almost 100 years ago and is closely tied to the dramatic events that unfolded during that period of the country's history. Citi has always acted as a unifying link between the Russian economy and other world economies and played an important role in the development of the country's trade and external economic relations.

Citi first entered Russia on the eve of the Revolution. In 1916, Citi, then-called National City Bank (NCB), underwrote bonds to support the government of the Russian Empire as World War I took its toll on the country's resources. Believing that Russia would soon emerge from the war and embark on a period of rapid economic development, NCB executives established a branch in Petrograd on January 15, 1917. Just two months later, the tsar was forced to abdicate, and a new, liberal government took power. Even as the battles raged in the streets of Petrograd, the bank established a new branch in Moscow in November. By December, the new Bolshevik government had taken control of the major cities of European Russia. On February 3, 1919, the bank established a branch in the city of Vladivostok in the Far East, a meeting point for retreating soldiers and refugees. On March 13, 1920, all three branches were closed.

Between 1920 and 1970, diplomatic and economic challenges – followed by WWII and then the Cold War – prevented the bank from re-entering the country. In the 1970s, however, during the period of détente, U.S.-Soviet trade increased, and there was greater contact between the two countries. In June 1973, the Soviet government gave Citi permission to establish a limited presence in the U.S.S.R., and, in 1974, the bank opened a representative office in Moscow on Karl Marx Avenue. Six years later, with the onset of the Afghanistan War and increasing tensions between the East and the West, the office was shut down. In 1992, following the collapse of the Soviet Union and emergence of the Russian Federation on the global marketplace, Citi once again had the opportunity to open a representative office in Moscow.

Having opened its office on October 1, 1992, by November 1, 1993, the bank had received all the necessary licenses to provide banking services in the Russian Federation, thus becoming one of the first international banks to enter the Russian market. In January 1994, Citi was inaugurated as a financial institution focused on corporate banking services, financing and trade. In 1995, Citi advised Mosenergo – the largest generating company operating on fossil fuel in Russia – on the first-ever ADR issue by a Russian company. It was Citi Russia's first major deal after its opening. On February 7, 1996, the bank opened a branch in St. Petersburg. Citi engaged in business and development financing for government bodies and a wide spectrum of corporate clients.

In 1998, Russia was hit by a financial crisis; although many other international banks left, Citi remained. As a result, Citi Russia became stronger and greatly expanded its presence in the Russian market. In November 2002, the bank launched a retail banking business and began to expand its presence with new branches and sales centers. By 2010, Citi's retail operations in Russia were serving more than one million Russian clients.
http://www.citigroup.com/citi/about/countrypresence/russia.html

2003

  U.S. Securities and Exchange Commission Report of Investigation

2003: Deutsche Bank's US-headquarter moves to 60 Wall Street. The move is the result of an agreement between Deutsche Bank and the World Trade Center Job Creation and Retention program, which provides support for businesses relocating to Lower Manhattan. https://www.db.com/usa/content/en/Chronicles.html

April 2003 Salomon Smith Barney and Citibank Corporate Bank join forces and are rebranded Citigroup Global Corporate and Investment Banking Group.
The Private Client Group and Equity Research separate from Salomon Smith Barney and are rebranded Smith Barney. https://www.citibank.com.au/aus/static/aboutus_history.htm

2004

Meet the Un-Enron: Banking's Next Top Gun

----Acquisition of Washington Mutual Finance Corporation
On January 9, 2004, Citigroup acquired Washington Mutual Finance Corporation (WMF) for $1.25 billion. WMF was the consumer finance subsidiary of Washington Mutual, Inc. WMF provides direct consumer installment loans and real-estate-secured loans, as well as sales finance and the sale of insurance. The acquisition includes 427 WMF offices located in 26 states, primarily in the Southeastern and Southwestern United States. WMF has more than 2,300 employees and total assets of $3.8 billion. Citicorp has guaranteed all outstanding unsecured indebtedness of WMF in connection with this acquisition.
http://www.citigroup.com/citi/investor/data/q0401c.pdf

On February 22, 2004, Citigroup and KorAm Bank announced that they, together with an investor consortium led by The Carlyle Group and JP Morgan Corsair II (the investor consortium), signed an agreement for Citigroup to acquire a controlling interest in KorAm. Based on 2003 revenues, KorAm Bank is the seventh-largest commercial bank in Korea, with 222 domestic branches and total assets of $35.9 billion.
http://www.citigroup.com/citi/investor/data/q0401c.pdf

--January 30, 2004   FEDERAL RESERVE SYSTEM
J.P. Morgan Chase & Co.
New York, New York
 Order Approving Acquisition of a Savings Association

---March 26, 2004-  FEDERAL RESERVE SYSTEM
J. P. Morgan Chase & Co. New York, New York
Notice of Public Meetings
New York, New York Chicago, Illinois
Background and Public Meeting Notice
On February 9, 2004, J. P. Morgan Chase & Co., New York, New York (“JPMorgan Chase”), requested the Board’s approval under the Bank Holding Company Act (12 U.S.C. § 1841 et seq.) (“BHC Act”) to merge with Bank One Corporation, Chicago, Illinois (“Bank One”). The Board hereby orders that public meetings on the JPMorgan Chase/Bank One proposal be held in New York, New York, and Chicago, Illinois.

--- FEDERAL RESERVE SYSTEM
Barclays Bank PLC London, England
FEDERAL RESERVE SYSTEM
Barclays Bank PLC London, England
Order Approving Notice to Engage in Activities  Complementary to a Financial Activity
Barclays Bank PLC (“Barclays”), a foreign bank that is treated as a financial holding company (“FHC”) for purposes of the Bank Holding Company Act (“BHC Act”), has requested the Board’s approval under section 4 of the BHC Act (12 U.S.C. § 1843) and the Board’s Regulation Y (12 C.F.R. Part 225) to engage in physical commodity trading in the United States. Barclays currently conducts physical commodity trading outside the United States.
 Complementary to a Financial Activity
Barclays Bank PLC (“Barclays”), a foreign bank that is treated as a financial holding company (“FHC”) for purposes of the Bank Holding Company Act (“BHC Act”), has requested the Board’s approval under section 4 of the BHC Act (12 U.S.C. § 1843) and the Board’s Regulation Y (12 C.F.R. Part 225) to engage in physical commodity trading in the United States. Barclays currently conducts physical commodity trading outside the United States.

July 1, 2004
JPMorgan Chase, Bank One complete merger
New York and Chicago, July 1, 2004 - J.P. Morgan Chase & Co. (NYSE:JPM) and Bank One Corporation today completed the merger of their holding companies, effective 12:01 a.m. July 1, 2004. The combined company will be known as J.P. Morgan Chase & Co.

Bank One stockholders will receive 1.32 shares of JPMorgan Chase common stock for each share of Bank One common stock. JPMorgan Chase stock will continue to trade on the New York Stock Exchange under the ticker symbol JPM; Bank One stock traded for the last time June 30, 2004.

J.P. Morgan Chase & Co. is a leading global financial services firm with assets of $1.1 trillion and operations in more than 50 countries. The firm is a leader in investment banking, financial services for consumers and businesses, financial transaction processing, asset and wealth management, and private equity. A component of the Dow Jones Industrial Average, J.P. Morgan Chase & Co. has its corporate headquarters in New York and its U.S. retail financial services and commercial banking headquarters in Chicago. Under the JPMorgan, Chase and Bank One brands, the firm serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients. Information about the firm is available on the Internet at www.jpmorganchase.com.
http://investor.shareholder.com/jpmorganchase/releasedetail.cfm?releaseid=144508
 

 2005

2005 – One Bank
Credit Suisse implements its One Bank strategy by merging its Credit Suisse legal entities in Switzerland with Credit Suisse First Boston. https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html

JPMorgan Chase & Co. New York, New York Order Approving Notice to Engage in
Activities Complementary to a Financial Activity

CITIGROUP INC. (1951350) acquires CITICORP (1042351) 2005-08-01 The acquired institution sold its assets to the acquiring institution.

CITIGROUP INC. (1951350) acquires CITIGROUP HOLDINGS COMPANY (2879844) 2005-08-01 The acquired institution sold its assets to the acquiring institution.

Seized documents point to Neftyanoi Bank money laundering role

Arthur Zankel   player in the merger of Citibank and Travelers Group insurance company

First American Bank is Now Citibank Texas, N.A. close
For immediate release
Citigroup Inc. (NYSE symbol: C)
March 31, 2005

Citigroup Completes Acquisition of First American Bank in Texas

(NEW YORK; DALLAS, March 31, 2005) – Citigroup has successfully completed its acquisition of First American Bank in Texas. In the closing transaction, Citigroup purchased all of the outstanding common stock of First American Bank. Immediately prior to the acquisition, the privately held Bank was converted to a National Association banking charter and renamed Citibank Texas, N. A. Terms of the agreement were not disclosed.

Robert B. Willumstad, President and Chief Operating Officer of Citigroup, said, “We look forward to bringing our successful banking model to Texas and best serving the needs of its communities, small- and middle-market enterprises and consumers.”

Ajay Banga, President of North America Retail Banking at Citigroup said, “We have been eager to enter the commercial and retail banking business in Texas for a long time. Texas is a vital and dynamic growth market for our company. Now the presence of our Citibank offices and financial centers will help demonstrate our commitment to the State, where we already have 16,000 employees engaged in a variety of Citigroup’s businesses.”

Citibank Texas, N.A. will be headquartered in Dallas, as the majority of Citigroup’s operations are based in the Dallas-Ft. Worth area. Citibank intends to retain former First American Bank branch and sales staff throughout the state along with approximately 200 non-branch personnel based in the Bryan-College Station area. In the coming months, the 106 First American office and branch locations will be converted to the Citibank brand name, offering business and retail customers an outstanding array of innovative products and services, based on Citibank’s best-in-class branch business model.

Citigroup has had a presence in Texas for many years. In 2004, Citigroup and the Citigroup Foundation awarded more than $2,700,000 in grants and sponsorships to charitable and non-profit organizations in communities across Texas to support financial education, general education, child development, and community development programs, among others. Its businesses in the state include Smith Barney, Citibank’s Sales and Service Center in San Antonio, CitiFinancial International, CitiFinancial branches, CitiFinancial Auto and CitiFinancial Home Equity Operations, Citigroup's Industrial Equipment Finance unit, Citicorp Credit Services, Inc., CitiMortgage, CitiStreet, the Citigroup Private Bank, Citigroup Corporate and Investment Banking, and the American Health and Life Insurance Company.

Citigroup (NYSE: C), the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage, and asset management. Major brand names under Citigroup’s trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney, Banamex, and Travelers Life and Annuity. Additional information may be found at www.citigroup.com

Certain statements in this document are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act. These statements are based on management’s current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from those included in these statements due to a variety of factors. More information about these factors is contained in Citigroup’s filings with the Securities and Exchange Commission

http://www.citi.com/domain/citibanktx/tx_pressrelease.htm        Copyright © 2005 Citicorp

George F. Baker III  senior trustee of the George F. Baker Trust. His grandfather, George Fisher Baker, Sr., was a founder and president of the First National Bank of New York, later known as Citibank. His father,George F. Baker, Jr's will established the George F. Baker Trust.

Willem  Duisenberg the first president of the European Central Bank.

Edouard Stern

Eugene Desmond O'Kelly chairman and chief executive of KPMG's United States unit


 

2006

  

1917-04-25 FIRST NATIONAL CITY BANK OF NEW YORK located at NEW YORK, NY was established as a National Bank. 
1962-01-19 FIRST NATIONAL CITY BANK OF NEW YORK was renamed to FIRST NATIONAL CITY BANK. 
1976-03-01 FIRST NATIONAL CITY BANK was renamed to CITIBANK, N.A. and moved to 5 WALL STREET NEW YORK, NY. 
1978-12-30 CITIBANK, N.A. moved to 55 WALL STREET NEW YORK, NY. 
1990-07-05 CITIBANK, N.A. moved to 399 PARK AVENUE NEW YORK, NY. 
2006-10-01 CITIBANK, N.A. moved to 3900 PARADISE ROAD, SUITE 127 LAS VEGAS, NV. 
2011-07-01 CITIBANK, N.A. moved to 701 EAST 60TH STREET NORTH SIOUX FALLS, SD. 
http://www.ffiec.gov/nicpubweb/nicweb/InstitutionHistory.aspx?parID_RSSD=476810&parDT_END=99991231 

2006 – New Integrated Bank      
Credit Suisse celebrates its 150th anniversary. At the same time it begins life as a globally integrated bank. In keeping with its new status it launches a new logo.  
 https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html

CITIGROUP INC. (1951350) acquires  CITIBANK (WEST) BANCORP INC. (3158452) 2006-10-01 The acquired institution sold its assets to the acquiring institution.

CITIGROUP INC. (1951350) acquires CITIBANK (WEST) HOLDINGS INC. (3158395) 2006-10-01 The acquired institution sold its assets to the acquiring institution.

http://investor.shareholder.com/JPMorganChase/releasedetail.cfm?releaseid=216082

Andrei Kozlov (Sept) a Central Bank official who oversaw efforts to clean up the Russia's murky banking industry, murdered.

2007

2007: Wells Fargo acquires CIT Construction.
2007: Wells Fargo acquires Placer Sierra Bank.
2007: Wells Fargo acquires Greater Bay Bancorp.

2007-The number of state banks increased from  246 [in 1815] to 21725 . The following is a list of all banks in the state of "All States" with ratings as listed.  http://apps.occ.gov/toolkit/crareslt.aspx     

2007- Bank of America acquires U.S. Trust      http://www.ustrust.com/ust/pages/about-us.aspx 

NOTE:   Bank of America, N.A. and U.S. Trust Company of Delaware (collectively the "Bank") do not serve in a fiduciary capacity with respect to all products or services. Fiduciary standards or fiduciary duties do not apply, for example, when the Bank is offering or providing credit solutions, banking, custody or brokerage products/services or referrals to other affiliates of the Bank.  http://www.ustrust.com/ust/pages/about-us.aspx  
 
 2007 – Clariden Leu Merger of the four independent Credit Suisse private banks, Clariden, Bank Leu, Bank Hofmann, and Banca di Gestione Patrimoniale to form Clariden Leu.                                           https://www.credit-suisse.com/us/en/about-us/who-we-are/history/milestones.html                 

 

“Citigroup” means Citigroup Inc., a corporation duly organized and validly existing under the laws of the State of Delaware, United States.   [Bank of Chile]    

CITIGROUP INC. (1951350) acquires CITIGROUP JAPAN INVESTMENTS LLC (3609114) 2007-07-05 The acquired institution sold its assets to the acquiring institution.

-January 22, 2007 01:00 AM Eastern Standard Time 
NEW YORK--(BUSINESS WIRE)--Citigroup announced today that it will acquire ABN AMRO Mortgage Group (AAMG), a national originator and servicer of prime residential mortgage loans. Citigroup will purchase approximately $9 billion in net assets and ABN AMRO Mortgage Group’s approximately $224 billion mortgage servicing portfolio. ABN AMRO Mortgage Group’s primary originations business is via wholesale lending under the InterFirst brand. ABN AMRO Mortgage Group is a subsidiary of LaSalle Bank Corporation and ABN AMRO Bank N.V. and is headquartered in Ann Arbor, Michigan. Terms of the transaction were not disclosed.

Citigroup, the leading global financial services company, has some 200 million customer accounts and does 
business in more than 100 countries, providing consumers, corporations, governments and institutions with a 
broad range of financial products and services, including consumer banking and credit, corporate and investment 
banking, securities brokerage, and wealth management. Major brand names under Citigroup's trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney and Banamex. Additional information may be found at www.citigroup.com  
 http://www.businesswire.com/news/home/20070121005082/en/Citigroup-Acquire-ABN-AMRO-Mortgage-Group#.VLPY7XTna00

--2007: Bank of America acquires U.S. Trust http://www.ustrust.com/ust/pages/about-us.aspx 
 

-Abu Dhabi Investment Authority invested $7.5 billion in Citigroup Inc. The fund, known as ADIA, agreed to buy the equivalent of 4.9 percent of Citigroup. A year later Citibank was bailed out at the cost of $45 billion to the American tax payers.

Olivant Advisors Ltd - Statement re Northern Rock  [see 2008 Kirk Stephenson]

Keith Gores  Banking executive ,vice president at Marshall & Ilsley Bank  

Robert Thomas Zankel

 

2008

NOTE: Washington Mutual, Inc. [WaMu] was a savings bank holding company and the former owner of Washington Mutual Bank, which  was the United States largest savings and loan association until its collapse in 2008. It ceased operations on Sept 26, 2008.    Successors: JPMorgan Chase; WMI Holdings Corp  Parent:: Washington Mutual Inc.; Headquarters:  Seattle, Washington...

Washington Mutual was founded on September 25. 1886.

Institution History for BNY MELLON, NATIONAL ASSOCIATION (934329)
7 institution history record(s) found. < Previous Page Next >
Event Date Historical Event
1869-01-01 MELLON NATIONAL BANK AND TRUST COMPANY located at N. MAIN & PITTS ST, PITTSBURGH, PA was established as a National Bank.
1972-11-28 MELLON NATIONAL BANK AND TRUST COMPANY was renamed to MELLON BANK, N.A..
1982-09-21 MELLON BANK, N.A. moved to N. MAIN & PITTS ST GREENSBURG, PA.
1985-01-07 MELLON BANK, N.A. moved to NORTH MAIN & PITTSBURGH ST. GREENSBURG, PA.
1996-06-01 MELLON BANK, N.A. moved to ONE MELLON BANK CENTER PITTSBURGH, PA.
2008-07-01 MELLON BANK, N.A. sold assets to BANK OF NEW YORK MELLON, THE.
2008-07-01 MELLON BANK, N.A. was renamed to BNY MELLON, NATIONAL ASSOCIATION and moved to 500 GRANT STREET PITTSBURGH, PA.
https://www.ffiec.gov/nicpubweb/nicweb/InstitutionHistory.aspx?parID_RSSD=934329&parDT_END=99991231

2008: Wells Fargo acquires United Bancorporation of Wyoming
2008: Wells Fargo acquires Century Bank.
2008: Wells Fargo acquires Wachovia Corporation.

Lehman Brothers became entangled in the subprime mortgage lending crisis, which led to its demise in 2008. On September 15, Lehman Brothers Holdings Inc. filed a Chapter 11 bankruptcy petition in federal court. The company's assets were subsequently sold to several other firms, including Barclays Bank, PLC and Nomura Holdings, Inc. http://www.library.hbs.edu/hc/lehman/history.html

In 2008, JPMorgan Chase & Co. acquired The Bear Stearns Companies Inc., strengthening its capabilities across a broad range of businesses, including prime brokerage, cash clearing and energy trading globally.
Also in 2008, JPMorgan Chase & Co. acquired the deposits, assets and certain liabilities of Washington Mutual's banking operations. This acquisition expanded Chase's consumer branch network into California, Florida and Washington State and created the nation's second-largest branch network — with locations reaching 42% of the U.S. population. http://www.jpmorganchase.com/corporate/About-JPMC/jpmorgan-history 

2008: J.P. Morgan plays an important role in helping manage the credit crisis through the acquisition of Bear Stearns.   https://www.jpmorgan.com/pages/jpmorgan/emea/uk/about/history
 

AGREEMENT AND PLAN OF MERGER      [by and among 
COUNTRYWIDE FINANCIAL CORPORATION, BANK OF AMERICA CORPORATION
and RED OAK MERGER CORPORATION
 

       http://www.sec.gov/divisions/investment/noaction/2008/russellinvestmentco102008.pdf                                   [see 2014 death  Mike Dueker]

In 2008, JPMorgan Chase & Co. acquired The Bear Stearns Companies Inc., strengthening its capabilities across a broad range of businesses, including prime brokerage, cash clearing and energy trading globally.
Also in 2008, JPMorgan Chase & Co. acquired the deposits, assets and certain liabilities of Washington Mutual's banking operations. This acquisition expanded Chase's consumer branch network into California, Florida and Washington State and created the nation's second-largest branch network — with locations reaching 42% of the U.S. population. https://www.jpmorganchase.com/corporate/About-JPMC/jpmorgan-history  (research results 12-29-2016)

 JPMorgan Chase & Co. acquires The Bear Stearns Companies Inc., strengthening its capabilities across a broad range of businesses, including prime brokerage, cash clearing and energy trading globally.   https://www.jpmorgan.com/pages/company-history

-ProLogis to Participate in Citigroup's 2008 Global Property CEO Conference.

-Citibank was bailed out at the cost of $45 billion to the American tax payers.

-On September 21, 2008, Goldman Sachs and Morgan Stanley, the last two major investment banks in the United States, both confirmed that they would become traditional bank holding companies, bringing an end to the era of investment banking on Wall Street. The Federal Reserve's approval of their bid to become banks ended the ascendancy of the securities firms, 75 years after Congress separated them from deposit-taking lenders, and capped weeks of chaos that sent Lehman Brothers into bankruptcy and led to the rushed sale of Merrill Lynch & Co. to Bank of America Corp.

--- This action arises out of improper accounting  practices at The BISYS Group, Inc.

Kirk Stephenson   millionaire financier ;  chief operating officer of   Olivant Advisers . 2.5 per cent stake in Swiss banking giant UBS (Swiss Bank Corporation). There has been persistent speculation in the financial world that UBS has written off billions after being exposed to the US mortgage market.

Christen Schnor    top  HSBC banker  (The Hongkong and Shanghai Banking Corporation Limited, which was established in 1865 to finance the growing trade between Europe, India and China) 

Thierry Magon de la Villehuchet   the former CEO of Credit Lyonnais Securities    .(The company Access International Advisors and Marketers (AIA Group) was co-founded in 1994 by French bankers, yachtsman René-Thierry Magon de la Villehuchet and Patrick Littaye. Philippe Junot, the first husband of Princess Caroline of Monaco, was a partner of the company.)

Citigroup, Merrill Receive $21 Billion From Investors (Update3)

By Yalman Onaran - January 15, 2008 16:11 EST

Jan. 15 (Bloomberg) -- Citigroup Inc. and Merrill Lynch & Co., two of the largest financial institutions in the U.S., turned to outside investors for a second time in two months to replenish capital eroded by subprime-mortgage losses.

Citigroup, the biggest U.S. bank, is getting $14.5 billion from investors including the governments of Singapore and Kuwait, former Chairman Sanford Weill and Saudi Prince Alwaleed bin Talal, the New York-based company said today in a statement. Merrill, the largest brokerage, will receive $6.6 billion from a group led by Tokyo-based Mizuho Financial Group Inc., the Kuwait Investment Authority and the Korean Investment Corp.

Wall Street banks have raised $59 billion, mostly from investors in the Middle East and Asia, to shore up balance sheets battered by more than $100 billion of writedowns from the declining values of mortgage-related assets. Citigroup was propped up in November by a $7.5 billion investment from the  Abu Dhabi Investment Authority . New York-based Merrill was helped by a $5.6 billion cash infusion last month from Singapore's Temasek Holdings Pte. and U.S. fund manager Davis Selected Advisors LP.

``The only reason the banks are raising capital from the Middle East and Asia is because those are the only people who have the excess capital to lend,'' said Jon Fisher, who helps oversee $22 billion at Minneapolis-based Fifth Third Asset Management, which holds shares of Citigroup and Merrill.    http://www.bloomberg.com/apps/news?pid=newsarchive&sid=anjGWhqi0PSE

---------------------

Citigroup says gold could rise above $2,000 next year as world unravels

Gold is poised for a dramatic surge and could blast through $2,000 an ounce by the end of next year as central banks flood the world's monetary system with liquidity, according to an internal client note from the US bank Citigroup.
By Ambrose Evans-Pritchard
4:33PM GMT 26 Nov 2008

The bank said the damage caused by the financial excesses of the last quarter century was forcing the world's authorities to take steps that had never been tried before.

This gamble was likely to end in one of two extreme ways: with either a resurgence of inflation; or a downward spiral into depression, civil disorder, and possibly wars. Both outcomes will cause a rush for gold.

"They are throwing the kitchen sink at this," said Tom Fitzpatrick, the bank's chief technical strategist. "The world is not going back to normal after the magnitude of what they have done. When the dust settles this will either work, and the money they have
pushed into the system will feed though into an inflation shock. "Or it will not work because too much damage has already been done, and we will see continued financial deterioration, causing further economic deterioration, with the risk of a feedback loop. We don't think this is the more likely outcome, but as each week and month passes, there is a growing danger of vicious circle as confidence erodes," he said. "This will lead to political instability. We are already seeing countries on the periphery of Europe under severe stress. Some leaders are now at record levels of unpopularity.
There is a risk of domestic unrest, starting with strikes because people are feeling disenfranchised." "What happens if there is a meltdown in a country like Pakistan, which is a nuclear power. -(2008)  http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/3526645/Citigroup-says-gold-could-rise-above-2000-next-year-as-world-unravels.html 

It is estimated by Tom Fitzpatrick, Citigroup Inc analyst, that the gold prices are likely to climb to over $3,500 per ounce over the next few years, which is more than double the current price on the market that sits at $1,411.

Fitzpatrick argued on historical and technical grounds that the long-term trend associated with gold is very bullish, in an interview that took place with the King World News blog. He has also predicted that silver will reach over $100 for every ounce which will more than triple the current rate of $23 per ounce.

Gold has recently been boosted and reached a high for the three month period that has made it surge past the $1,400 mark. This is mostly attributed to the fact that investors have become hesitant to purchase risky stocks at a time when there is potential military intervention over in Syria.

The prediction of Fitzpatrick is not the typical view of other Citi analysts, or the official estimate in-house. David Wilson, a Citi metals analyst stated that his forecasts put gold at $1,150 by the end of this year and $1,250 by the end of 2015.

Dennis Gartman, a noted investor and longtime bear when it comes to gold stated that gold is a smart investment with the potential Syrian crisis.

The official bank estimates are varied with the Barclays PLC having a prediction of gold reaching an average of $1,393 by the end of 2013, which was on the latest report that was issued on Monday.

During the middle of June, prior to the stabilization in the summer as well as the most recent upticks, the HSBC Holdings had posted a forecast ranging around $1,396 for the average of gold in all of 2013. (2014)

http://nysebulletin.com/citi-analyst-predicts-gold-prices-likely-to-skyrocket-to-3500-4036.html

Of course : The ones who control the money-Control the prices of gold and everything else....

 

2009

list of the central banks of the world

2009: Wells Fargo acquires North Coast Surety Insurance Services

 

Uploaded  to YouTube on Feb 13, 2009

CEOs of the biggest bailed-out banks finally appeared before Congress. Over the course of a seven-hour hearing, there were remarkably few revealing moments. One, though, stood out. Rep. Alan Grayson, a feisty former prosecutor, dug his claws into Citigroup's CEO over a deal that could end up costing the taxpayers hundreds of billions of dollars.
 

Uploaded to YouTube on Dec 6, 2009

Bloomberg News reporter Mark Pittman predicted the subprime mortgage crisis, timed the stock market decline of 2008-09 and took on the Federal Reserve. He died Nov. 25, 2009, at the age of 52.

 

Published on YouTube  Mar 23, 2012

Oct. 25 (Bloomberg) -- The late Bloomberg News reporter Mark Pittman asked the U.S. Treasury in January 2009 to identify $301 billion of securities owned by Citigroup Inc. that the government had agreed to guarantee. He made the request under the federal Freedom of Information Act on the grounds that taxpayers ought to know how their money was being used. More than 20 months later, after saying at least five times that a response was imminent, Treasury officials responded with 560 pages of printed-out e-mails, none of which Pittman requested. Bloomberg's Suzanne O'Halloran reports. (Source: Bloomberg)

-------------------

 

February 27, 2009
Citi shares set to plumb new all-time lows 
By John Spence 

BOSTON (MarketWatch) -- Shares of Citigroup Inc. were poised to fall to fresh all-time lows on Friday after the company said the government will boost its stake in the troubled bank to firm up its capital base. The stock was down more than 50% in premarket trading Friday to $1.28 at last check. The shares' most recent 52-week low was $1.61 on Feb. 20. 

Marketwatch

February 27, 2009

Citigroup reaches aid deal 
with government

By MARTIN CRUTSINGER, AP Economics Writer Martin Crutsinger 

WASHINGTON – The U.S. government will exchange up to $25 billion in emergency bailout money it provided Citigroup Inc. for as much as a 36 percent equity stake in the struggling bank, greatly increasing the risks to taxpayers as voter unhappiness about the broader bailout program rises.

The deal announced Friday by the company and the Treasury Department represents the third rescue attempt for Citigroup in the past five months. It's contingent on private investors agreeing to a similar swap.

The administration decided to restructure the bailout package for Citigroup again in the hopes that converting $25 billion of preferred shares into common stock would give investors more confidence the bank has sufficient capital reserves to withstand mounting losses on its holdings of mortgages and other loans. While the conversion to common stock will dilute current shareholders' investments, a wider equity base could calm investors since there would be more reserves in place to guard against further losses as the economy sours.

Besides a stronger capital base, the company is getting a critical boost to its cash flow as it forgoes its 4 cent annual dividend on its common shares. That is giving Citi an additional $2.18 billion a year.

But the deal doesn't affect one of Citi's greatest problems, the billions of dollars in failed mortgage-backed securities that still sit on its books. As those investments have fallen in value, they have exacerbated Citi's losses.

The plan comes one day after the Obama administration laid the groundwork in its first budget request for greatly increasing the size of the $700 billion bailout program that Congress passed in October. Administration officials said no decisions had been made yet but suggested the size of the effort could be expanded by as much as another $750 billion.

The swap of $25 billion of preferred shares into common stock will expose the government to the same risks facing other holders of the bank's common stock. Shares of Citigroup and many other financial companies have plunged as the sector undergoes its worst crisis in seven decades.

But the administration is mindful about growing unhappiness among voters and lawmakers in the huge sums that have been provided to the nation's banks, money that so far seems to have done little to stabilize the situation.

In his first address to a joint session of Congress on Tuesday, President Barack Obama stressed that the government effort was not aimed at bailing out bank executives who had made bad loans, but instead in getting credit flowing again to consumers and businesses.

"I know how unpopular it is to be seen as helping banks right now, especially when everyone is suffering in part from their bad decisions," Obama said. "I promise you — I get it."

The aim of the government's rescue effort is to keep the New York bank holding company alive and bolster its capital as it faces growing losses amid the intensifying global recession. Existing Citi shareholders would see their ownership stake shrink to as little as 26 percent.

Investors appeared disappointed in the deal and expected dilution of their stake, sending shares plummeting 91 cents, or 37 percent, to a new 52-week low of $1.55 in afternoon trading. Stocks tumbled early but pulled off their lows as the Dow Jones industrial average came within 34 points of breaching the 7,000 mark for the first time in more than 11 years.

Underscoring its precarious nature, the company also disclosed that it recorded a goodwill impairment charge of about $9.6 billion due to deterioration in the financial markets.

The Treasury Department said the transaction requires no new federal funds. But it left the door open for Citigroup to seek additional government funding or for the conversion to common shares of the remaining $20 billion in federal bailout money it received late last year. The government currently holds about an 8 percent stake in Citi.

For now, that $20 billion in government funding will be converted into a new class of preferred shares that will be senior to other bank debt and it will continue to pay a yearly 8 percent cash dividend. As part of the deal, the payout for all other preferred shares will be suspended.

Citi will offer to exchange up to $27.5 billion of its existing preferred stock held by private investors at a conversion price of $3.25 per share. That's a 32 percent premium over Thursday's closing price of $2.46.

The Government of Singapore Investment Corp., Saudi Arabian Prince Alwaleed Bin Talal, Capital Research Global Investors and Capital World Investors are among the private investors that said they would participate in the exchange.

The conversion will help provide Citi the mix of capital to withstand further weakening in the economy. The stock-conversion option was laid out by the administration earlier this week as an option for providing relief to banks. It gives the government greater flexibility in dealing with ailing banks. It also gives the government voting shares, and therefore more say in a bank's operations. 

But common shares absorb losses before preferred shares do, which means taxpayers would be on the hook if banks keep writing down billions of dollars' worth of rotten assets, such as dodgy mortgages, as many analysts expect they will. 

On the other hand, common stock in banks is incredibly cheap, and taxpayers would reap gains if the banks come back to health and the stock price goes up. 

One of the hardest hit banks by the ongoing credit crisis, Citi has also received guarantees from the government protecting it from the bulk of losses on $300 billion of risky investments. Citi has been especially hit hard by investments in the mortgage market, which began to collapse in 2007. 

The deal comes as Citi is in the process of shedding assets and cutting staff as it looks to reduce costs and streamline operations ahead of splitting its traditional banking businesses from its riskier operations. Citi last month reached a deal to sell a majority stake in its Smith Barney brokerage unit to Morgan Stanley. 

Citi also will reshape its board of directors, Richard Parsons, the bank's chairman, said in a statement Friday. The board, which currently has 15 members, will have a majority of new independent directors as soon as possible, he said. 

Three board members in recent weeks have said they would not seek re-election as the company's annual shareholders meeting in April. Two others will reach the mandatory retirement age by the time of the meeting. 

Roberto Hernandez Ramirez earlier this month said he would not stay on beyond his current term. Last month, Robert Rubin, a former Treasury secretary who was a longtime Citigroup board member, and Win Bischoff, most recently chairman at Citigroup, announced their retirements from the company. 

The goodwill charge announced Friday was added to Citi's 2008 results along with a $374 million impairment charge tied to its Nikko Asset Management unit. The charges resulted in Citi revising its 2008 loss to $27.7 billion, or $5.59 per share. 

www.news.yahoo.com/s/ap/20090227/ap_on_bi_ge/citigroup_rescue 

March 14, 2009

Ex-CEO of Bankoh considered
for Citigroup board

By David Segal, Honolulu Star-Bulletin

Former Bank of Hawaii Chief Executive Michael O'Neill reportedly is one of the candidates being considered for a position on the board of directors at financially troubled Citigroup Inc.

O'Neill, who turned around Bankoh's lagging fortunes in less than four years before retiring at age 57 in August 2004, was mentioned along with former U.S. Bancorp CEO Jerry Grundhofer and William S. Thompson, former co-chief of bond investment manager Pimco, according to a report in the Wall Street Journal.

The newspaper said Citigroup is expected to announce the board changes next week when it files its proxy statement with the Securities and Exchange Commission. Any nominees would have to be formally approved by the board and voted on by shareholders.

O'Neill took over then-called Pacific Century Financial Corp. from Larry Johnson on Nov. 3, 2000, and in less than four years transformed the bank into a more efficient operation, elevated earnings to record highs and increased shareholder value nearly fourfold.

He also became somewhat of a TV personality with the bank's "Tell Mike" campaign.

Richard Parsons, a one-time University of Hawaii student who took over as chairman last month, is one of the few Citigroup directors with experience in both banking and leading a large company.

Honolulu Star-Bulletin


April 4, 2009

Financial industry paid 
millions to Obama aide! 

Summers earned cash last year from firms 
over which he now has influence

By Jeff Zeleny, The New York Times 

WASHINGTON - Lawrence H. Summers, the top economic adviser to President Obama, earned more than $5 million last year from the hedge fund D. E. Shaw and collected $2.7 million in speaking fees from Wall Street companies that received government bailout money, the White House disclosed Friday in releasing financial information about top officials. 

Mr. Summers, the director of the National Economic Council, wields important influence over Mr. Obama’s policy decisions for the troubled financial industry, including firms from which he recently received payments. 

Last year, he reported making 40 paid appearances, including a $135,000 speech to the investment firm Goldman Sachs, in addition to his earnings from the hedge fund, a sector the administration is trying to regulate. 

The White House released hundreds of pages of financial disclosure forms, which are required of all West Wing officials. A White House spokesman, Ben LaBolt, said the compensation was not a conflict for Mr. Summers, adding it was not surprising because he was “widely recognized as one of the country’s most distinguished economists.” 

Mr. Summers’s role at the White House includes advising Mr. Obama on whether - and how - to tighten regulation of hedge funds, which engage in highly sophisticated financial trading that many analysts have said contributed to the economic collapse. 

Mr. Summers, a former president of Harvard University, was Treasury secretary in the Clinton administration. He appeared before large Wall Street companies like Citigroup ($45,000), J. P. Morgan ($67,500) and the now defunct Lehman Brothers ($67,500), according to his disclosure report. He reported being paid $10,000 for a speaking date at Yale and $90,000 to address an organization of Mexican banks. 

While Mr. Obama campaigned on a pledge to restrict lobbyists from working in the White House, a step intended to reduce any influence between the administration and corporations, the ban did not apply to former executives like Mr. Summers, who was not a registered lobbyist. In 2006, he became a managing director of D. E. Shaw, a firm that manages about $30 billion in assets, making it one of the biggest hedge funds in the world. 

“Dr. Summers was not an adviser to or an employee of the firms that paid him to speak,” Mr. LaBolt said. 

He added, “Of course, since joining the White House, he has complied with the strictest ethics rules ever required of appointees and will not work on specific matters to which D. E. Shaw is a party for two years.”

A review of hundreds of pages of financial disclosure forms on Friday evening offered an extensive portrait of the wealth of top officials in the Obama administration. The forms detail the salaries, bonuses and investments of the president’s circle of advisers, many of whom took deep pay cuts from the private sector and sold their companies to work at the White House. 

David Axelrod, who was the chief campaign strategist to Mr. Obama and now serves as a senior adviser to the president, reported a salary of $1 million last year from his two consulting firms. Over the next five years, according to his disclosure form, he will get $3 million from the sale of the two firms, which provide media and strategic advice to political clients. He listed assets of about $7 million to $10 million, and reported a long list of Democratic clients and a few corporate concerns, including AT&T and the Exelon Corporation, a nuclear energy company. 

The disclosure forms also shed further light on the compensation received by a top Obama aide who previously worked for Citigroup, one of the largest recipients of taxpayer bailout money. The aide, Michael Froman, deputy national security adviser for international economic affairs, received more than $7.4 million from the company from January 2008 to when he joined the White House this year. 

'Shameful' 

That money included a year-end bonus of $2.25 million for work in 2008, which Citigroup paid him in January. Such bonuses have prompted political controversy in recent months, including sharp criticism from Mr. Obama, who in January branded them as “shameful.” 

The White House had previously acknowledged that Mr. Froman received such a year-end bonus and said he had decided to give it to charity, but would not say what it was. 

The administration said Friday that Mr. Froman was working on giving the $2.25 million to a combination of charities related to homelessness and cancer, which took the life of his son this year. 

The remainder of Mr. Froman’s earnings from Citigroup included deferred compensation and bonuses for work performed in prior years, as well as a $2 million payment for waiving his carried-interest stake in several private equity funds. 

The White House said Mr. Froman decided to take the buyouts to avoid having to recuse himself from foreign-policy issues related to the funds’ investments, like India infrastructure, which means he would be taxed at ordinary income rates on the money. 

Millionaires work in a variety of positions across the administration, and they include Desirée Rogers, the White House social secretary. Ms. Rogers, a close Chicago friend of the Obama family, reported income of $2.3 million last year. She earned a salary of $1.8 million from People’s Gas & North Shore Gas, along with three other sources of income from serving on insurance company boards. 

Thomas E. Donilon, the deputy national security adviser, reported earning $3.9 million as a partner at the Washington law firm O’Melveny & Myers. His disclosure form says major clients included Citigroup, Goldman Sachs and Apollo Management, a private equity firm in New York that specializes in distressed assets and corporate restructuring. 

Mr. Donilon is also entitled to future pension payments from Fannie Mae, where he worked from 1999 to 2005. 

Reporting was contributed by Peter Baker, David Johnston, David D. Kirkpatrick, Eric Lipton and Charlie Savage. 

This story, Financial Industry Paid Millions to Obama Aide, originally appeared in The New York Times.

----------------------------
Citigroup Global Markets, UBS and Deutsche Bank Vonage IPO Restitution
Restitution Information for Investors

This case is closed. You may review eligibility and related claims information for reference only.
This page provides information about restitution for certain customers of Citigroup Global Markets, UBS Securities and Deutsche Bank Securities who purchased shares of the Vonage, LLC initial public offering (IPO) in May 2006 through a direct share program.
In September 2009, FINRA fined the three firms in connection with their failure to adequately supervise communications with their customers who invested in the Vonage IPO. Each of the firms was a lead underwriter for the Vonage IPO, which included a directed share program under which the firms sold approximately 4.2 million shares to Vonage customers through accounts the customers had opened at the firms.
FINRA found that each of the firms failed to establish adequate systems and procedures to supervise the outsourcing of communications with customers about the sale of securities in the Vonage IPO. FINRA also ordered that the firms make restitution payments to compensate certain customers for the difference between the $17 per share IPO price they paid and the lower price of Vonage stock at the time they learned that they had been allocated shares. Pursuant to the terms of the settlement, the firms will notify eligible customers.
Customers eligible for restitution: There is nothing you need to do at this time. You will be contacted by your securities firm if you are potentially eligible to receive a payment.
For more information about the FINRA enforcement action, see FINRA’s News Release: FINRA Fines Citigroup Global Markets, UBS and Deutsche Bank $425,000, Orders Customer Restitution for Supervisory Failures in Vonage IPO. http://www.finra.org/investors/citigroup-global-markets-ubs-and-deutsche-bank-vonage-ipo-restitution

Uploaded on Jul 21, 2009[above video]

This is Congressman Alan Grayson questioning Federal Reserve Chairman Ben Bernanke on $550B of loans to foreigners (or 'central liquidity swaps' in Federal Reserve-ese'). 

Alan Grayson: "Which Foreigners Got the Fed's $500,000,000,000?" Bernanke: "I Don't Know."

Which financial institutions received this money? Bernanke's answer: I don't know.

As the Fed was lending this money, the dollar increased by 30% in value. Grayson asks, was this a coincidence? Bernanke's answer: yes

 

Senator Sanders asks Bernanke WHERE IS THE MONEY

-----Goldman Sachs Group Inc (GS.N) media sector banker Joseph Ravitch is leaving the company. Ravitch  was a driving force behind a number of media deals, including the creation of the YES television network, the formation of the NBA China joint partnership, and the sale of the New Jersey Nets and Seattle Supersonics basketball clubs http://www.reuters.com/article/2009/03/06/ravitch-goldmansachs-idUSBNG48923120090306

ADIA, which doesn’t give the value of its assets, filed a complaint against Citigroup in 2009, saying it made “fraudulent misrepresentations” about the deal.

-The acquisition was completed in January 2009 and Merrill Lynch & Co., Inc. was merged into Bank of America Corporation, although certain Bank of America subsidiaries continue to carry the Merrill Lynch name, including the broker-dealer Merrill Lynch, Pierce, Fenner & Smith. Bank of America also takes over Merrill's nearly 50 percent stake in the powerful money manager BlackRock Inc (BLK.N).

L Sunil Shankar Goud   assistant manager of HSBC Bank 

Anjool Malde  Banker (Deutsche Bank) internships at the City solicitors Slaughter-and May and the finance house ABN Amro.

Huibert Gerald Boumeester  Banker (ABN)October 9, 2009

BILL MOYERS: Welcome to the JOURNAL. 

I sat in a theater packed with passionate moviegoers, every one of them seemingly aghast at the Wall Street skullduggery exposed by Michael Moore in his latest film. It's called 'Capitalism: A Love Story.' Here's an excerpt: 

MICHAEL MOORE: We're here to get the money back for the American People. Do you think it's too harsh to call what has happened here a coup d'état? A financial coup d'état? 

MARCY KAPTUR: That's, no. Because I think that's what's happened. Um, a financial coup d'état? 

MICHAEL MOORE: Yeah. 

MARCY KAPTUR: I could agree with that. I could agree with that. Because the people here really aren't in charge. Wall Street is in charge. 

BILL MOYERS: That's the progressive Representative from Ohio, Marcy Kaptur, she's with me now. She has a Masters from the University of Michigan, did graduate study at M.I.T. and still lives in the same house in the Toledo working class neighborhood where she grew up. 

She's in her 14th term in Congress, the longest-serving Democratic woman in the history of the House, and she's an outspoken financial watchdog on three important Committees: Appropriations, Budget and Oversight and Government Reform. 

Also with me is a familiar face to viewers of this broadcast. Simon Johnson is the former Chief Economist at the International Monetary Fund. He now teaches Global Economics and Management at M.I.T.'s Sloan School of Management. He's one of the founders of the website Baselinescenario.com. I check it out daily for Simon's take on the economic and financial crisis. 

It's been a year since the great collapse and both my guests are well equipped to assess what's happened since then. Welcome to you both. 

MARCY KAPTUR: Thank you. 

BILL MOYERS: Let's look at this story that I just read from the Associated Press this week about how Treasury Secretary Geithner is on the phone several times a day with a select group of very powerful Wall Street bankers, especially Citigroup, J.P. Morgan, Goldman Sachs. He will talk to them when Members of Congress have to leave a message on the answering machine. And these are the bankers who helped bring on this calamity and who are now benefiting from it. What does that say to you? 

MARCY KAPTUR: That says to me that Wall Street and Washington is a circuit. And because Mr.Geithner headed the New York Fed that that historic relationship, unfortunately, continues. And it gives them special access and special power to influence policy. 

SIMON JOHNSON: Well, I think it really tells you how the system works. The system is based on access and is based on what on Wall Street shaping Washington's view of what's important. 

It's the people who are very close to Mr. Geithner before when he was the head of the New York Fed. Before he became Treasury Secretary. These people have unparalleled access. And in a crisis, when everything is up for grabs, you don't know what's going on, the people who will take your phone calls, right, in government and people who are going to be standing in the oval office, making the key decisions. That's the heart of the system. That's the heart of how you get your agenda through, by changing their worldview. 

MARCY KAPTUR: And they also move people. In other words, Mr. Geithner came from the New York Fed, he came from Wall Street, and he becomes Secretary of the Treasury. His predecessor, Mr. Paulson, came from Goldman Sachs, and he becomes Secretary of Treasury. You can go back decades, and you will see that there's this revolving door between Wall Street and Washington. 

And I recently asked Chairman Bernanke of the Federal Reserve, 'Let me ask you a question. Would you be willing to consider a reform where the Cleveland Fed would have equal power to the New York Fed, in terms of how the Fed is run?' 

And his answer was, 'No.' ... 

CONTINUED (WITH VIDEO) AT ...

http://www.pbs.org/moyers/journal/10092009/watch.html  

James S. McDonald [Sept.] the CEO of money-management firm Rockefeller & Co

 

2010

Basel Committee
on Banking Supervision
The Basel Committee’s
response to the financial
crisis: report to the G20
October 2010

The Basel Committee’s response to the financial crisis:
Report to the G20

Executive summary

The Basel Committee on Banking Supervision and its oversight body, the Group of
Governors and Heads of Supervision1, have developed a reform programme to address the
lessons of the crisis, which delivers on the mandates for banking sector reforms established
by the G20 at their 2009 Pittsburgh summit. This report, which the Committee is submitting to
the G20, details the key elements of the reform programme and future work to strengthen the
resilience of banks and the global banking system.

The depth and severity of the crisis were amplified by weaknesses in the banking sector
such as excessive leverage, inadequate and low-quality capital, and insufficient liquidity
buffers. The crisis was exacerbated by a procyclical deleveraging process and the
interconnectedness of systemically important financial institutions. In response, the
Committee’s reforms seek to improve the banking sector’s ability to absorb shocks arising
from financial and economic stress, whatever the source, thus reducing the risk of spill over
from the financial sector to the real economy.

The reforms strengthen bank-level, or micro prudential, regulation, which will help raise the
resilience of individual banking institutions in periods of stress. The reforms also have a
macro prudential focus, addressing system wide risks, which can build up across the banking
sector, as well as the procyclical amplification of these risks over time. Clearly, these micro
and macro prudential approaches to supervision are interrelated, as greater resilience at the
individual bank level reduces the risk of system wide shocks.

Collectively, the new global standards to address both firm-specific and broader, systemic
risks have been referred to as “Basel III”. Basel III is comprised of the following building
blocks, which have been agreed and issued by the Committee and the Governors and Heads
of Supervision between July 2009 and September 2010:

 Raising the quality of capital to ensure banks are better able to absorb losses on
both a going concern and a gone concern basis;
 Increasing the risk coverage of the capital framework, in particular for trading
activities, securitisations, exposures to off-balance sheet vehicles and counterparty
credit exposures arising from derivatives;

1
The Basel Committee on Banking Supervision provides a forum for regular cooperation on banking
supervisory matters. It seeks to promote and strengthen supervisory and risk management practices globally.

The Committee is comprised of central bank and supervisory authority representatives from Argentina,
Australia, Belgium, Brazil, Canada, China, France, Germany, Hong Kong SAR, India, Indonesia, Italy, Japan,
Korea, Luxembourg, Mexico, the Netherlands, Russia, Saudi Arabia, Singapore, South Africa, Spain, Sweden,
Switzerland, Turkey, the United Kingdom and the United States. The Committee’s Secretariat is based at the
Bank for International Settlements in Basel, Switzerland.

The Basel Committee’s governing body is the Group of Central Bank Governors and Heads of Supervision,
which is comprised of central bank governors and (non-central bank) heads of supervision from member
countries.

The Basel Committee’s response to the financial crisis: report to the G20 1
 Raising the level of the minimum capital requirements, including an increase in the
minimum common equity requirement from 2% to 4.5% and a capital conservation
buffer of 2.5%, bringing the total common equity requirement to 7%;

 Introducing an internationally harmonised leverage ratio to serve as a backstop to
the risk-based capital measure and to contain the build-up of excessive leverage in
the system;
 Raising standards for the supervisory review process (Pillar 2) and public
disclosures (Pillar 3), together with additional guidance in the areas of sound
valuation practices, stress testing, liquidity risk management, corporate governance
and compensation;
 Introducing minimum global liquidity standards consisting of both a short term
liquidity coverage ratio and a longer term, structural net stable funding ratio; and
 Promoting the build up of capital buffers in good times that can be drawn down in
periods of stress, including both a capital conservation buffer and a countercyclical
buffer to protect the banking sector from periods of excess credit growth.

The Committee is also working with the Financial Stability Board to address the risks of
systemic banks. On 12 September 2010, the Governors and Heads of Supervision agreed
that systemically important banks should have loss absorbing capacity beyond the minimum
standards of the Basel III framework.

The Committee’s reforms will transform the global regulatory framework and promote a more
resilient banking sector. Accordingly, the Committee has undertaken a comprehensive
assessment of Basel III’s potential effects, both on the banking sector and on the broader
economy. This work concludes that the transition to stronger capital and liquidity standards is
expected to have a modest impact on economic growth. Moreover, the long-run economic
benefits substantially outweigh the costs associated with the higher standards.

Going forward, the Committee will concentrate its efforts on the implementation of the Basel
III framework and related supervisory sound practice standards. It is also conducting work in
the following areas:

 A fundamental review of the trading book;
 The use and impact of external ratings in the securitisation capital framework;
 Policy response to systemically important banks;
 The treatment of large exposures;
 Enhanced cross-border bank resolution;
 A review of the Core Principles for Effective Banking Supervision to reflect the
lessons of the crisis; and
 Standards implementation and stronger collaboration among bank supervisors
through supervisory colleges.

In 2009 the membership of the Basel Committee doubled in size to 27 jurisdictions. It is now
represented by senior officials from 44 central banks and supervisory authorities. The greater
diversity of supervisory views and practices shared among members has enriched the
Committee’s discussions. The broader representation has also served to enhance the
Committee’s legitimacy as a global standard setter.

In the course of its standard-setting process, the Committee regularly solicits public
comments on its proposals. For example, its December 2009 proposals on capital and
2 The Basel Committee’s response to the financial crisis: report to the G20
liquidity generated
close to 300 comments from bankers, academics, governments, other standard setters
and prudential supervisors, and various other market participants and
interested parties. Such comments are carefully reviewed by the Committee and its working
groups and proposed standards are modified as appropriate. Together, the transparent
public consultations and comprehensive impact assessments help ensure that the
Committee is developing standards on a well informed and inclusive basis.

file:///C:/Documents%20and%20Settings/Owner/My%20Documents/My%20Pictures/bcbs179%20(1).pdf 

ABN AMRO Bank N.V.
02/26/2010 NYS Chartered ABN AMRO Bank N.V.
08/16/2011 Closed

ABN AMRO Bank N.V.
08/09/2010 NYS Chartered ABN AMRO Bank N.V. http://www.dfs.ny.gov/about/hista.txt

http://www.sec.gov/about/laws/wallstreetreform-cpa.pdf   This Act may be cited as the ‘‘Dodd-Frank
Wall Street Reform and Consumer Protection Act’’.

NATIONAL EXPORT INITIATIVE

J.P. Morgan Cazenove becomes a wholly-owned part of J.P. Morgan, having originally operated as a joint venture between J.P. Morgan and the U.K. investment bank Cazenove.     https://www.jpmorgan.com/pages/company-history

In 2010, J.P. Morgan acquired full ownership of its U.K. joint venture, J.P. Morgan Cazenove, one of Britain's premier investment banks.  https://www.jpmorganchase.com/corporate/About-JPMC/jpmorgan-history  [research results 12-29-2016]
 

(above video) Bill Murphy, Chairman of the Gold Anti-Trust Action Committee delivers his testimony about a whistle-blower in the gold price suppression scheme to the Commodity Futures Trading Commission on 3/25/10
 

-- On 6 February 2010 ABN AMRO Bank N.V. (registered with the Dutch Chamber of Commerce under number 33002587) changed its name to The Royal Bank of Scotland N.V. and on 1 April 2010 ABN AMRO Holding N.V. changed its name toRBS Holdings N.V. and all references in the attached document to "ABN AMRO Bank N.V." should be read as references to "The Royal Bank of Scotland N.V." and all references to “ABN AMRO Holding N.V.”, should be read as references to “RBS Holdings N.V.”.

These name changes are not changes to either the legal entity which issued your securities or the guarantor of them and they do not affect any of the terms and conditions of your securities. For further information on The Royal Bank of Scotland N.V. or RBS Holdings N.V., and their financial status please refer to the current Registration Document for RBS Holdings N.V. and The Royal Bank of Scotland N.V., which is available at
http://markets.rbs.com/bparchive/  and to the documents on file at http://www.sec.gov . 

BNY Mellon has had a presence in Wrocław, Poland since 2010. Supporting BNY Mellon’s ongoing strategy to optimise infrastructure and support global growth plans, the location has functioned as one of six Global Delivery Centres around the world, since early 2012. https://www.bnymellon.com/pl/en/index.jsp

Since 6 February 2010 the name ABN AMRO Bank N.V. has been used by a separate legal entity (registered with the Dutch Chamber of Commerce under number 34334259), this entity became wholly owned by the State of the Netherlands on 1 April 2010.

Neither the new entity named ABN AMRO Bank N.V. nor the State of the Netherlands will, in any way, guarantee or otherwise support the obligations under your securities, issued by The Royal Bank of Scotland N.V. (formerly ABN AMRO Bank N.V.),registered with the Dutch Chamber of Commerce under number 33002587.

--Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010

The Dodd-Frank Wall Street Reform and Consumer Protection Act was signed into law on July 21, 2010 by President Barack Obama. The legislation set out to reshape the U.S. regulatory system in a number of areas including but not limited to consumer protection, trading restrictions, credit ratings, regulation of financial products, corporate governance and disclosure, and transparency. The full text of the Act is available at: http://www.sec.gov/about/laws/wallstreetreform-cpa.pdf.  (Please check the Classification Tables maintained by the US House of Representatives Office of the Law Revision Counsel for updates to any of the laws.) You can find links to all Commission rulemaking and reports issued under the Dodd Frank Act at: http://www.sec.gov/spotlight/dodd-frank.shtml.

--On 1 July 2010 the legal merger between ABN AMRO Bank N.V. (ABN AMRO Bank) and Fortis Bank (Nederland) N.V. (Fortis Bank Nederland) was completed, creating a combined entity called ABN AMRO Bank N.V.  http://www.abnamro.com/en/about-abn-amro/history/index.html

--In 2010, J.P. Morgan acquired full ownership of its U.K. joint venture, J.P. Morgan Cazenove, one of Britain's premier investment banks. http://www.jpmorganchase.com/corporate/About-JPMC/jpmorgan-history  

fraud action against Goldman, Sachs & Co.

James Patrick (Pat) Rothstein a bond trader who held top jobs at Merrill Lynch, Bear Stearns and UBS

Neil Mccormick   head of Asia Equity derivatives at UBS

Jessica Fashano   Investment Banking Associate at Citi Group.

 David Widlak Chief Financial Officer Community Central Bank Corp.-Widlak, a licensed attorney, also served as an arbitrator for the American Arbitration Association.

 Patents
Try the new Google Patents, with machine-classified Google Scholar results, and Japanese and South Korean patents.
Publication number US8589288 B1
Publication type Grant
Application number US 12/896,630
Publication date Nov 19, 2013
Filing date Oct 1, 2010
Priority date Oct 1, 2010
Fee status Paid
Inventors Shannon D. Meyer, Margaret A. Haggerty, Rick Schwabinger
Original Assignee Jpmorgan Chase Bank, N.A.
Export Citation BiBTeX, EndNote, RefMan
Patent Citations (587), Non-Patent Citations (100), Referenced by (1), Classifications (5), Legal Events (2)
External Links: USPTO, USPTO Assignment, Espacenet
System and method for electronic remittance of funds
US 8589288 B1
Abstract
A system and method for enabling the remittance of funds is provided. More particularly, the fund remittance process of the present invention enables a sending entity having a source account at a financial institution to schedule a payment transaction for withdrawal by a designated receiving entity. A plurality of security codes are automatically generated upon processing a request to schedule a payment, wherein a first security code is communicated directly to the sending entity and a second security code is communicated directly to the designated receiving entity. The designated receiving entity may submit a request to retrieve the scheduled payment at a qualifying self-service machine. In interacting with the self service machine, security measures are deployed to execute one of a plurality of security code combination schemes in association with the first and second security codes. Upon validation, allocated funds associated with the scheduled payment are made available to the designated receiving entity for withdrawal.
https://www.google.com/patents/US8589288

Citi's history in Russia began almost 100 years ago and is closely tied to the dramatic events that unfolded during that period of the country's history. Citi has always acted as a unifying link between the Russian economy and other world economies and played an important role in the development of the country's trade and external economic relations.

Citi first entered Russia on the eve of the Revolution. In 1916, Citi, then-called National City Bank (NCB), underwrote bonds to support the government of the Russian Empire as World War I took its toll on the country's resources. Believing that Russia would soon emerge from the war and embark on a period of rapid economic development, NCB executives established a branch in Petrograd on January 15, 1917. Just two months later, the tsar was forced to abdicate, and a new, liberal government took power. Even as the battles raged in the streets of Petrograd, the bank established a new branch in Moscow in November. By December, the new Bolshevik government had taken control of the major cities of European Russia. On February 3, 1919, the bank established a branch in the city of Vladivostok in the Far East, a meeting point for retreating soldiers and refugees. On March 13, 1920, all three branches were closed.

Between 1920 and 1970, diplomatic and economic challenges – followed by WWII and then the Cold War – prevented the bank from re-entering the country. In the 1970s, however, during the period of détente, U.S.-Soviet trade increased, and there was greater contact between the two countries. In June 1973, the Soviet government gave Citi permission to establish a limited presence in the U.S.S.R., and, in 1974, the bank opened a representative office in Moscow on Karl Marx Avenue. Six years later, with the onset of the Afghanistan War and increasing tensions between the East and the West, the office was shut down. In 1992, following the collapse of the Soviet Union and emergence of the Russian Federation on the global marketplace, Citi once again had the opportunity to open a representative office in Moscow.

Having opened its office on October 1, 1992, by November 1, 1993, the bank had received all the necessary licenses to provide banking services in the Russian Federation, thus becoming one of the first international banks to enter the Russian market. In January 1994, Citi was inaugurated as a financial institution focused on corporate banking services, financing and trade. In 1995, Citi advised Mosenergo – the largest generating company operating on fossil fuel in Russia – on the first-ever ADR issue by a Russian company. It was Citi Russia's first major deal after its opening. On February 7, 1996, the bank opened a branch in St. Petersburg. Citi engaged in business and development financing for government bodies and a wide spectrum of corporate clients.

In 1998, Russia was hit by a financial crisis; although many other international banks left, Citi remained. As a result, Citi Russia became stronger and greatly expanded its presence in the Russian market. In November 2002, the bank launched a retail banking business and began to expand its presence with new branches and sales centers. By 2010, Citi's retail operations in Russia were serving more than one million Russian clients.
http://www.citigroup.com/citi/about/countrypresence/russia.html

2011

Citigroup to Pay $285 Million to Settle SEC Charges for Misleading Investors About CDO Tied to Housing Market
Former Citigroup Employee Separately Charged for His Role in Structuring Transaction

FOR IMMEDIATE RELEASE
2011-214
Chart: SEC Charges Stemming From Financial Crisis
Chart: SEC Charges Stemming From Financial Crisis
Full-size (PDF)

Washington, D.C., Oct. 19, 2011 – The Securities and Exchange Commission today charged Citigroup’s principal U.S. broker-dealer subsidiary with misleading investors about a $1 billion collateralized debt obligation (CDO) tied to the U.S. housing market in which Citigroup bet against investors as the housing market showed signs of distress. The CDO defaulted within months, leaving investors with losses while Citigroup made $160 million in fees and trading profits.
Additional Materials

SEC Complaint Against Citigroup Global Markets Inc.
SEC Complaint Against Brian H. Stoker
Order in the Matter of Credit Suisse Alternative Capital, Credit Suisse Asset Management and Samir H. Bhatt

The SEC alleges that Citigroup Global Markets structured and marketed a CDO called Class V Funding III and exercised significant influence over the selection of $500 million of the assets included in the CDO portfolio. Citigroup then took a proprietary short position against those mortgage-related assets from which it would profit if the assets declined in value. Citigroup did not disclose to investors its role in the asset selection process or that it took a short position against the assets it helped select.

Citigroup has agreed to settle the SEC’s charges by paying a total of $285 million, which will be returned to investors.
Chart: SEC Monetary Recoveries
Chart: SEC Monetary Recoveries
Full-size (PDF)

The SEC also charged Brian Stoker, the Citigroup employee primarily responsible for structuring the CDO transaction. The agency brought separate settled charges against Credit Suisse’s asset management unit, which served as the collateral manager for the CDO transaction, as well as the Credit Suisse portfolio manager primarily responsible for the transaction, Samir H. Bhatt.

“The securities laws demand that investors receive more care and candor than Citigroup provided to these CDO investors,” said Robert Khuzami, Director of the SEC’s Division of Enforcement. “Investors were not informed that Citgroup had decided to bet against them and had helped choose the assets that would determine who won or lost.”

Kenneth R. Lench, Chief of the Structured and New Products Unit in the SEC Division of Enforcement, added, “As the collateral manager, Credit Suisse also was responsible for the disclosure failures and breached its fiduciary duty to investors when it allowed Citigroup to significantly influence the portfolio selection process.”

According to the SEC’s complaints filed in U.S. District Court for the Southern District of New York, personnel from Citigroup’s CDO trading and structuring desks had discussions around October 2006 about the possibility of establishing a short position in a specific group of assets by using credit default swaps (CDS) to buy protection on those assets from a CDO that Citigroup would structure and market. After discussions began with Credit Suisse Alternative Capital (CSAC) about acting as the collateral manager for a proposed CDO transaction, Stoker sent an e-mail to his supervisor. He wrote that he hoped the transaction would go forward and described it as the Citigroup trading desk head’s “prop trade (don’t tell CSAC). CSAC agreed to terms even though they don’t get to pick the assets.”

The SEC alleges that during the time when the transaction was being structured, CSAC allowed Citigroup to exercise significant influence over the selection of assets included in the Class V III portfolio. The transaction was marketed primarily through a pitch book and an offering circular for which Stoker was chiefly responsible. The pitch book and the offering circular were materially misleading because they failed to disclose that Citigroup had played a substantial role in selecting the assets and had taken a $500 million short position that was comprised of names it had been allowed to select. Citigroup did not short names that it had no role in selecting. Nothing in the disclosures put investors on notice that Citigroup had interests that were adverse to the interests of CDO investors.

According to the SEC’s complaints, the Class V III transaction closed on Feb. 28, 2007. One experienced CDO trader characterized the Class V III portfolio in an e-mail as “dogsh!t” and “possibly the best short EVER!” An experienced collateral manager commented that “the portfolio is horrible.” On Nov. 7, 2007, a credit rating agency downgraded every tranche of Class V III, and on Nov. 19, 2007, Class V III was declared to be in an Event of Default. The approximately 15 investors in the Class V III transaction lost virtually their entire investments while Citigroup received fees of approximately $34 million for structuring and marketing the transaction and additionally realized net profits of at least $126 million from its short position.

The SEC alleges that Citigroup and Stoker each violated Sections 17(a)(2) and (3) of the Securities Act of 1933. While the SEC’s litigation continues against Stoker, Citigroup has consented to settle the SEC’s charges without admitting or denying the SEC’s allegations. The settlement is subject to court approval. Citigroup consented to the entry of a final judgment that enjoins it from violating these provisions. The settlement requires Citigroup to pay $160 million in disgorgement plus $30 million in prejudgment interest and a $95 million penalty for a total of $285 million that will be returned to investors through a Fair Fund distribution. The settlement also requires remedial action by Citigroup in its review and approval of offerings of certain mortgage-related securities.

The SEC instituted related administrative proceedings against CSAC, its successor in interest Credit Suisse Asset Management (CSAM), and Bhatt. The SEC found that as a result of the roles that they played in the asset selection process and the preparation of the pitch book and the offering circular for the Class V III transaction, CSAM and CSAC violated Section 206(2) of the Investment Advisers Act of 1940 (Advisers Act) and Section 17(a)(2) of the Securities Act and that Bhatt violated Section 17(a)(2) of the Securities Act and caused the violations of Section 206(2) of the Advisers Act by CSAC.

Without admitting or denying the SEC’s findings, CSAM and CSAC consented to the issuance of an order directing each of them to cease and desist from committing or causing any violations, or future violations, of Section 206(2) of the Advisers Act and Section 17(a)(2) of the Securities Act and requiring them to pay disgorgement of $1 million in fees that it received from the Class V III transaction plus $250,000 in prejudgment interest, and requiring them to pay a penalty of $1.25 million. Without admitting or denying the SEC’s findings, Bhatt consented to the issuance of an order directing him to cease and desist from committing or causing any violations or future violations of Section 206(2) of the Advisers Act and Section 17(a)(2) of the Securities Act and suspending him from association with any investment adviser for a period of six months.

The SEC’s investigation was conducted by Andrew H. Feller and Thomas D. Silverstein of the Enforcement Division’s Structured and New Products Unit with assistance from Steven Rawlings, Brenda Chang and Elisabeth Goot of the New York Regional Office. The SEC trial attorney who will lead the litigation against Stoker is Jeffrey Infelise.

For more information about dozens of other SEC enforcement actions related to the financial crisis, visit the SEC website at: http://www.sec.gov/spotlight/enf-actions-fc.shtml.

# # #

Update: Stoker Found Not Liable
On July 31, 2012, following a two-week trial, a jury found that Brian Stoker was not liable for violations of the federal securities laws.
More info
https://www.sec.gov/news/press/2011/2011-214.htm

https://www.sec.gov/litigation/complaints/2011/comp-pr2011-214-stoker.pdf

1917-04-25 FIRST NATIONAL CITY BANK OF NEW YORK located at NEW YORK, NY was established as a National Bank. 
1962-01-19 FIRST NATIONAL CITY BANK OF NEW YORK was renamed to FIRST NATIONAL CITY BANK. 
1976-03-01 FIRST NATIONAL CITY BANK was renamed to CITIBANK, N.A. and moved to 5 WALL STREET NEW YORK, NY. 
1978-12-30 CITIBANK, N.A. moved to 55 WALL STREET NEW YORK, NY. 
1990-07-05 CITIBANK, N.A. moved to 399 PARK AVENUE NEW YORK, NY. 
2006-10-01 CITIBANK, N.A. moved to 3900 PARADISE ROAD, SUITE 127 LAS VEGAS, NV. 
2011-07-01 CITIBANK, N.A. moved to 701 EAST 60TH STREET NORTH SIOUX FALLS, SD. 
http://www.ffiec.gov/nicpubweb/nicweb/InstitutionHistory.aspx?parID_RSSD=476810&parDT_END=99991231 

SUBSIDIARIES OF PROLOGIS, INC. AND PROLOGIS, L.P.

ESTABLISHMENT OF THE SELECTUSA INITIATIVE

--J.P. Morgan celebrates the 90th anniversary of the firm's presence in China.   https://www.jpmorgan.com/pages/company-history

-Shearman & Sterling represented Citigroup Global Markets Inc. and RBS Securities Inc. as dealer managers in connection with exchange offers of various series of notes of Prologis, L.P. (formerly AMB Property, L.P.) for certain series of outstanding notes issued by ProLogis, conducted in connection with, and subject to the consummation of, a merger of equals between ProLogis and AMB Property Corporation. The combined company is now known as Prologis, Inc. Concurrently with the exchange offers, Citigroup Global Markets Inc. and RBS Securities Inc. acted as solicitation agents on behalf of the combined company, for the solicitation of consents from the holders of the ProLogis notes to certain proposed amendments to the relevant ProLogis notes indenture. The exchange offers closed on June 8, 2011.

-- On July 5, 2011, BMO Financial Group acquired Marshall & Ilsley Corporation through its subsidiary BMO 
Financial Corp. (formerly Harris Financial Corp.). At the time of the acquisition, certain bank mergers also 
occurred.

- Yes, the U.S. Government Ought to Own the Banks Now

Special Access in Connection with the Division of Enforcement's  [Citigroup]

Proposed Amendment to Regulation CC Regarding Availability of Funds and
Collection of Checks (Docket No. R-1409) - Comments on Check Fraud Liability
http://www.federalreserve.gov/SECRS/2011/June/20110610/R-1409/R-1409_060311_81006_366940476572_1.pdf

---   In the Matter of CREDIT SUISSE ALTERNATIVE CAPITAL, LLC (f/k/a CREDIT SUISSE ALTERNATIVE CAPITAL, INC.), CREDIT SUISSE ASSET MANAGEMENT, LLC , and SAMIR H. BHATT

Markets (along with certain affiliates, "Citigroup")---   securities fraud action against Brian H. Stoker who was an employee of Citigroup Global Markets, Inc. (along with certain affiliates, "Citigroup")

--- The Commission brings this securities fraud action against Citigroup Global Markets (along with certain affiliates, "Citigroup")

Maurice J. Spagnoletti    Executive Vice President of Mortgage and Banking Operations at Doral Financial

Irzen Octa    found outside a Citibank branch in Jakarta and died of a brain hemorrhage on the way to hospital.

Brad Griffiths      He co-founded Griffiths McBurney & Partners in 1995, one of the most powerful independent investment banks in Canada. It is now know as GMP Capital Inc. . He left the firm in 1999. He had also been head of mergers and acquisitions at Canadian Imperial Bank of Commerce; vice-president of Gordon Capital Corp.; head of capital markets at Canaccord Capital; and managing director of capital markets at McFarlane Gordon.
More recently, he served as chief financial officer and chairman of the board of directors at United Hunter Oil and Gas Corp., as well as chairman of Griffiths Energy International. 

Timothy McGuigan   a senior vice president at Kansas State Bank

2012

Citi has had a presence in Belgium since 1919 and opened its headquarters in Brussels in 1962. In 1969, Citibank took over Crédivit Bank and Financia Bank. Crédivit merged with Financia to form Famibank in 1977. After taking over Banque Copine and Banque Sud Belge, Banque Sud Belge merged with Famibank, creating Citibank Belgium in 1992. In 2012 the Citibank consumer franchise was sold to Credit Mutel Nord Europe. http://www.citigroup.com/citi/about/countrypresence/belgium.html

U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 22541 / November 21, 2012
Securities and Exchange Commission v. Brian H. Stoker, 11-Civ.-7388 (S.D.N.Y. filed Oct. 19, 2011)
BRIAN STOKER FOUND NOT LIABLE

The Securities and Exchange Commission (SEC) announced that on July 31, 2012, following a two week trial in the United States District Court for the Southern District of New York, a jury found that former Citigroup Global Markets Inc. employee Brian H. Stoker  was not liable for violations of the Federal securities laws related to the issuance of a $1 billion collateralized debt obligation (CDO) called Class V Funding III. The SEC has not appealed the jury’s verdict, and the time for appeal has expired.

The SEC originally filed its suit against Stoker on October 19, 2011. The SEC alleged that Citigroup structured and marketed Class V III and exercised significant influence over the selection of $500 million of the assets included in the CDO. Citigroup then took a proprietary short position with respect to those $500 million of assets. The Commission complaint alleged that Citigroup did not disclose to investors the role that it played in the asset selection process or the short position that it took. The SEC further alleged that Stoker was the Citigroup employee primarily responsible for structuring the Class V III transaction.

The SEC will continue to pursue its appeal of the District Court’s denial of the proposed settlement with Citigroup in the related matter of Securities and Exchange Commission v. Citigroup Global Markets Inc., 11-Civ.-7387 (Rakoff, J.) (S.D.N.Y. filed Oct. 19, 2011).

For further information, please see Litigation Release Number 22134 (October 19, 2011).
http://www.sec.gov/litigation/litreleases/2012/lr22540.htm
Home | Previous Page
Modified: 11/21/2012
https://www.sec.gov/litigation/litreleases/2012/lr22541.htm

----------------------

2012: Wells Fargo acquires Merlin Securities
2012: Wells Fargo acquires stake in The Rock Creek Group LP

HSBC Case Study 

HSBC Exposed U.S. Financial System to Money Laundering, Drug, Terrorist Financing Risks

-Jumpstart Our Business Startups Act of 2012

The Jumpstart Our Business Startups Act (the "JOBS Act") was enacted on April 5, 2012. The JOBS Act aims to help businesses raise funds in public capital markets by minimizing regulatory requirements. The full text of the Act is available at: http://www.gpo.gov/fdsys/pkg/BILLS-112hr3606enr/pdf/BILLS-112hr3606enr.pdf.

-A Goldman Sachs banker added to the firm’s scarred public profile in a withering resignation letter published in the New York Times, saying Goldman had become a “toxic and destructive” place where managing directors openly referred to their own clients as “muppets.” http://www.thestar.com/business/2012/03/14/goldman_sachs_banker_slams_ripoff_culture_as_he_quits_job.html

---  SEC Charges J.P. Morgan and Credit Suisse With Misleading Investors in RMBS Offerings

Charles Stephen Parker   an assistant manager at a Bank of America branch in nearby Athens

Andrew Breitbart   43, author and publisher, dead   

Michael Marin

Christopher Marks  owned and operated Sweeney Canyon Vineyard since 1981 and was a partner in the Marks Theriot Walston & Co. investment firm in Los Angeles

David Taundi  Banker for Bank of America ,found dead

Keith Currie   Northern Rock

Document to : BlackRock PPIP, L.P.  and The Bank of New York Mellon
From United States Department of TREASURY,Timothy G. MASSAD https://www.treasury.gov/initiatives/financial-stability/TARP-Programs/credit-market-programs/ppip/Documents/PPIP%20Amendment%20--%20Blackrock%20-%20redacted.pdf

2013

By federal law, as of 1/1/2013, funds in a noninterest-bearing transaction account (including an IOLTA/IOLA) will no longer receive unlimited deposit insurance coverage, but will be FDIC-insured to the legal maximum of $250,000 for each ownership category. For more information visit: www.fdic.gov/deposit/deposits/unlimited/expiration.html

Enhanced Prudential Standards and Early Remediation Requirements for Foreign Banking Organizations and Foreign Non-bank Financial Companies 
http://www.federalreserve.gov/SECRS/2013/April/20130425/R-1438/R-1438_041913_111069_466225501262_1.pdf

National Bank and Federal Savings Institution Operating Subsidiary

Meeting between Federal Banking Agency Staffs and Representatives of The Clearing House

Meeting between Federal Banking Agency Staffs and Representatives of The Clearing House May 1, 2013
Participants: Bart Miller, and David Emmel (Federal Reserve Board),
Ray Diggs, Tom McQuade, Marshall Osborne, Tena Alexander (OCC), Eric Schatten (FDIC)

The Clearing House representatives: Katie Tymann and Keith Huebsch (Bank of America), Stephen Randall (Citibank), Lisa Fitzgerald (JP Morgan Chase), Kieran Fallon (PNC), Andrew Gladin (Sullivan & Cromwell), Scott Ferguson (TD Bank), Frank Austin and Eli Peterson (Bank of New York Mellon), Brett Waxman (The Clearing House), Martin Cooney (U.S. Bank), Scott Weaver (Wells Fargo).

Summary: Staff from the Federal Reserve Board, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) met with representatives from The Clearing House (the "Representatives") to discuss the anticipated Basel III regulatory liquidity requirements. The Representatives discussed the Basel Committee's revised liquidity coverage ratio (LCR) and expressed concerns about U.S. implementation of the LCR regarding the following topics: treatment of government-sponsored enterprise securities including the level 2 cap; classification of operational deposits; public disclosure of an institution's LCR; and changes in the LCR standard relating to derivative outflows.

 

2013-10-01 CITIFINANCIAL SERVICES, INC. was renamed 
to CFNA RECEIVABLES (CA), INC.. 
 

CITIGROUP INC. (1951350) acquires CITIGROUP FUNDING INC. (3367236) 2013-01-01 The acquired institution sold its assets to the acquiring institution.

CITIGROUP INC. (1951350) acquires  ASSOCIATED MADISON COMPANIES, INC. (1277881) 2013-11-01 The acquired institution sold its assets to the acquiring institution.

-New York-based Citigroup in August became the first Western bank to issue credit cards in China without co-branding from a local financial institution as the government relaxes restrictions.

--UNITED STATES SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549 
FORM S-3 
REGISTRATION STATEMENT 
UNDER 
THE SECURITIES ACT OF 1933 
Citigroup Inc. 
(Exact name of registrant as specified in its charter)

-On 29 September 2013, Morgan Stanley announced a partnership with Longchamp Asset Management, a French-based asset manager that specialises in the distribution of UCITS hedge funds, and La Française AM, a multi-specialist asset manager with a 10-year track record in alternative investments.Citigroup, JPMorgan Chase and Royal Bank of Scotland are the latest global banks confirming that their foreign exchange trading is under investigation.

_________________________________________

British banking giant Barclays, UBS, Switzerland's largest bank, and German banking giant Deutsche Bank previously made similar disclosures to investors about the foreign exchange investigations.

The U.S. Department of Justice confirmed it had "an active, ongoing investigation into possible manipulation of foreign exchange rates" by traders at several banks. Swiss authorities are also investigating. http://www.usatoday.com/story/money/business/2013/11/01/rbs-bank-forex-trading-probe/3345513/ 

Makoto Shimomi (Jan) Swiss-based Japanese banker

Nico Lambrechts (Jan)   Investment analyst at Investec Asset Management

David Rossi  (Mar)  The communications director of Italian bank Monte dei Paschi di Siena (MPS)

Wang Shiqiang (April) banker at state-owned China Jianyin Investment

Mohamed Hamwi – System Analyst at Trepp, a financial data and analytics firm, SHOT

Kenneth Bellandro, former JP Morgan

David William Waygood  had been employed by both HSBC and NatWest 

Hussain Ahmad Najadi   founder of AMMB Holdings Bhd. (AMM)

Carsten Schloter  Swisscom CEO[a publicly traded company in which the Swiss government has the majority stake]



Sascha Schornstein – Royal Bank of Scotland [RBS] in its commodity finance

Anne Doss, Head of Wells Fargo Unit , She died on Aug. 14 in her hotel room at the Sofitel    Minneapolis in Bloomington, Minnesota

Moritz Erhardt (Aug)   Interning with investment bank Merrill Lynch

Patrick Sheehan a managing director in Wells Fargo Securities public finance department

Pierre Wauthier    chief financial officer of Zurich Insurance Group AG (ZURN)

Guy Ratovondrahona   Madagascar Central Bank

Ezdehar Husainat – former JP Morgan banker, killed  when her SUV crushed her to death

Michael Burdin  -Bank of America

Venera Minakhmetova  Former Financial Analyst at Bank of America Merrill Lynch 

Susan Hewitt  former vice president of  Deutsche Bank

Benjamin Idim , CAR ACCIDENT

Joseph M. Ambrosio age 34, Financial Analyst at J.P. Morgan 

Robert Wilson, a retired hedge fund founder

Jason Alan Salais age 34, IT Specialist for J.P Morgan Chase 

2014

SEC Enforcement Actions Addressing Misconduct That Led to or Arose From the Financial Crisis
 Key Statistics (through September 11, 2014 )
 

List of Federal Reserve Member Bankshttps://fraser.stlouisfed.org/docs/historical/federal%20reserve%20history/rboc/rboc_memberbanks_19140527.pdf

Banks of England http://www.bankofengland.co.uk/pra/Documents/authorisations/banklist1405.pdf

Money Managers who own this Issuer’s Securities or Options on them City National Corp

SEC’s FY 2014 Enforcement Actions 

BofA Fined $16.6M for Violating Drug-Trafficking Sanctions

 Losses House Votes To Audit The Fed... And Deregulate Wall Street

European Banks Sued for Indirect Funding of Terror Attacks

Wells Fargo, HSBC Among Banks Sued Over Subprime Securities

HSBC is paying $2 billion, or 5 weeks' worth of its profit, to avoid criminal charges in drug cartel laundering case

The Justice Department agreed to suspend criminal charges against the world's largest bank and its US subsidiary for five years if the bank agreed to pay the penalty. http://www.globalpost.com/dispatch/news/regions/americas/united-states/140121/hsbc-paying-2-billion-drug-money-laundering-cartel 

Meeting Between Staff of the Federal Reserve Board, the Office of the Comptroller of theCurrency (OCC), the Federal Deposit Insurance Corporation (FDIC),and Citigroup Global Markets Inc. (Citigroup)

February 19, 2014

Participants: David Emmel, Kevin Littler, Dafina Stewart, Jahad Atieh (Federal Reserve
Board)
Tena Alexander, Jill Cetina, Tiffany Eng, Linda Jennings, Patrick Tierney, James Weinberger (OCC)
Kyle Hadley, Eric Schatten, Sue Dawley, Jason Fincke (FDIC)
Jim Johnson, Howard Marsh, Joseph Geraci, Patrick Brett, Peter O’Connor, Sarah Sullivan (Citigroup)

Summary: Staff of the Federal Reserve Board, OCC, and the FDIC met with representatives of Citigroup to discuss the proposed Liquidity Coverage Ratio rule, which would implement the
Basel III liquidity standards in the United States. Meeting participants discussed the proposed rule’s definition of level 2A highly liquid assets and the consequences of omitting municipal securities from the definition of highly liquid assets. 
http://www.federalreserve.gov/newsevents/rr-commpublic/citigroup-20140219.pdf

-Meeting Between Staff of the Federal Reserve Board, the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), and Citigroup

May 7, 2014

Participants: David Emmel, Kevin Littler, Adam Trost, April Snyder, Dafina Stewart, and Jahad Atieh (Federal Reserve Board)

Kerrie Corn, Kevin Walsh, and Patrick Tierney, (OCC)
Kyle Hadley, Suzanne Clair, and Sue Dawley (FDIC)
Eric Aboaf and Nora Slatkin (Citigroup)

Summary: Staff of the Federal Reserve Board, the OCC, and the FDIC met with representatives of Citigroup to discuss the proposed Liquidity Coverage Ratio rule, which would implement the Basel III liquidity standards in the United States. Meeting participants discussed the potential consequences of the proposed peak net contractual outflow day. http://www.federalreserve.gov/newsevents/rr-commpublic/citigroup-20140507.pdf

 Citigroup Sued in Abu Dhabi  By Investor Over Fund

-Friends Commit Suicide  In The Last Four Years, Associates Say Russian Mafia Orchestrated Their Deaths

Elizabeth Warren's Speech (below)

David Bird 55, long-time reporter for the Wall Street Journal working at the Dow Jones news room,   went for a walk on Saturday, January 11, 2014 near his New Jersey home and disappeared without a trace. Mr. Bird was a reporter of the oil and commodity markets which happened to be under investigation by the U.S. Senate Permanent Subcommittee on Investigations for price manipulation.

Tim Dickenson (Jan 26), a U.K.-based communications director at Swiss Re AG

Karl Slym (Jan 27) 51, managing director of India's Tata Motors Ltd    

James Stuart Jr (Feb 19)70, Former National Bank of Commerce CEO was found dead in Scottsdale, Ariz

John Ruiz  (Feb)– Morgan Stanley Municipal Debt Analyst, died suddenly 

Autumn Radtke  (Feb), 28, CEO of a Bitcoin exchange firm First Meta

 William Broeksmit   (Feb), 58, former senior manager for Deutsche Bank. On January 26, former Deutsche Bank executive Broeksmit was found dead at his South Kensington home after police responded to reports of a man found hanging at a house. According to reports, Broeksmit had “close ties to co-chief executive Anshu Jain.” It is important to note that Deutsche Bank is under investigation for reportedly hiding $12 billion in losses during the financial crisis and for potentially rigging the foreign exchange markets. The allegations are similar to the claims the institution settled in 2013 over involvement in rigging the Libor interest rates.

http://wallstreetonparade.com/wp-content/uploads/2014/07/Email-from-William-Broeksmit-to-Anshu-Jain-Released-by-the-U.S.-Senate-Permanent-Subcommittee-on-Investigations.pdf

Richard Talley (Feb), 57, was the founder and CEO of American Title (real estate titles) American Title Services in Centennial, Colorado,

Ryan Henry Crane  (Feb)37,J P Morgan  

last name Li   Li Junjie, (Feb)33,JP Morgan, Hong Kong 

Gabriel Magee  (Jan), 39, age JP Morgan employee Gabriel Magee, senior manager at JP Morgan’s European headquarters, jumped 500ft from the top of the bank’s headquarters in central London on January 27, landing on an adjacent 9 story roof. Gabriel Magee, a Vice President at JPMorgan in London, plunged to his death from the roof of the 33-story European headquarters of JPMorgan in Canary Wharf. Magee was involved in “Technical architecture oversight for planning, development, and operation of systems for fixed income securities and interest rate derivatives” based on his online Linkedin profile.
It’s important to note that JPMorgan, like Deutsche Bank, is under investigation for its potential 

Mike Dueker  (Jan), 50, who had worked for Russell Investments. Mike Dueker, the chief economist at Russell Investments, fell down a 50 foot embankment in what police described as a suicide. Dueker was reported missing on January 29 by friends.

Edmund (Eddie) Reilly(Feb), 47, Midtown’s Vertical Group, investment banker,  New York

David Taundi   Bank of America

Mohamed Hamwi (March)– System Analyst at Trepp, a financial data and analytics firm

Joseph A. Giampapa (March) – 55, corporate bankruptcy lawyer, JP Morgan Chase 

Jurgen Frick (April)48, the chief executive of the Liechtenstein private bank Bank Frick, CEO Bank Frick & Co AG,

Li Jianhua  (April)49, Non-bank Financial Institutions Supervision Department of the regulator

Benedict Philippens (April), 37,Director/Manager Bank Ans-Saint-Nicolas,BNP Parisbas Fortis Bank, Ans, België murdered alongside his wife and a 9 year old nephew 

Tanji Dewberry (April)– WL Ross investment firm in New York

 Jan Peter Schmittmann  (April)  57, ABN Amro, former CEO of Deutsche Bank AG risk executive

 Andrew Jarzyk   (April) – Assistant Vice President, Commercial Banking at PNC Financial Services Group

Mahafarid Amir Khosravi a/k/a also known as Amir Mansour Aria , Iran billionaire, executed over $2.6 billion scam

Phubadee Marasa    Diamond Bank

Amir Kess (April) Markstone Capital Partners Group LLC co-manager

 Nigel Sharvin (May)Senior Relationship Manager Ulster Bank manage portfolio of distressed businesses

 Thomas J. Schenkman  (May 7) 42,Managing Director Global Infrastructure JP Morgan   

 Naseem Mubeen  Assistant Vice President of Zarai Taraqiati Bank Limited (ZTBL)

Daniel Leaf   senior manager at the Bank of Scotland before moving to investment firm Saracen Fund Managers (SFM)

Richard Rockefeller, 66, Banker John D. Rockefeller

 Richard P. Gravino  (June 24)49, IT Specialist JP Morgan, Application Team Lead  

Julian Knott   (July 10)JPMorgan Chase employee       

S Krishnamoorthy     Barclays bank in Chennai

 Therese Brouwer , 50, Managing Director ING, Nederland

Tod Robert Edwards  51, Vice President M & T Bank

Melissa Millan   , 54, Senior Vice President Mass Mutual,

Thieu Leenen, 64, Relatiemanager ABN/AMRO, Eindhoven, Nederland

Carlos Six, 61, Hoofd Belastingdienst en lid CREDAF, België

Jan Winkelhuijzen, 75, Commissaris en Fiscalist (voormalig Deloitte), Nederland.

Lewis Katz 76, Amerika, co-owner of The Inquirer, Philadelphia Daily News, and Philly.com

Nicholas Valtz 39, Managing Director Goldman Sachs, New York

Geert Tack 52, Private Banker ING, Haaltert, België

Seth Tobias-CNBC CONTRIBUTER-HEDGE FUND MGR

 Mark Schultz  (Sept)  A small airplane crashed soon after takeoff in western Minnesota, killing a bank executive and his brother, a longtime Medtronic employee

Tod R. Edwards  (Sept)  the Group Vice President for M&T Bank, Lancaster and Harrisburg Offices

Christophe de Margerie    (Oct)    Total’s CEO        

 Calogero "Charlie" Gambino  (Oct 20)  A senior Deutsche Bank regulatory lawyer

 Scott Jeffrey Therriault   BTRE, Executive Director at JP Morgan Chase in 2002, Merrill Lynch, etc.

Jeffrey Schwartz, former ProLogis CEO chairman of the Executive Committee and co-Founder Global Logistic Properties dies, http://media.corporate-ir.net/media_files/IROL/24/240724/Global_Logistic_Properties_Limited_AR_2013.pdf   

Jeffrey H. Schwartz
Chairman of the Executive Committee
Executive Director
Appointed September 24, 2010
Jeffrey H. Schwartz, 54, is Co-Founder of Global Logistic Properties Holdings Limited, Chairman of the Executive Committee, Executive Director and GLP Group’s Deputy Chairman of the Board. Mr. Schwartz was last reelected as a Director at GLP’s Annual General Meeting on 20 July 2011. He also serves as a member of GLP’s Investment Committee. Mr. Schwartz joined ProLogis, a NYSE-listed Fortune 500 company, in 1994, and held various executive roles, rising to Chief Executive Officer in 2005 as well as Chairman of the Board in 2007.
While at ProLogis, Mr. Schwartz spearheaded ProLogis’ entry into the European markets in 1997, and also
established ProLogis’ Asia platform in 2002, initially in Japan and eventually progressing to China and Korea.

Mr. Schwartz serves on the advisory boards of the Guanghua School of Management, Peking University
and Fundacao Dom Cabral, Brazil. Mr. Schwartz is a member of the Board of Trustees of Emory University and
a member of the Real Estate Roundtable, a non-profit  public policy organization. He also sits on the board of
Las Vegas Sands Corp., Sands China Limited and GLP Japan Advisors Inc., the Asset Manager for GLP J-REIT.
Mr. Schwartz graduated from Harvard Business School in 1985 with a Master of Business Administration.
Mr. Schwartz graduated from Emory University in 1981 with a Bachelor of Business Administration. http://media.corporate-ir.net/media_files/IROL/24/240724/Global_Logistic_Properties_Limited_AR_2013.pdf

Jeffrey Schwart is in the middle (picture below) 

 

 

Thierry Leyne    a French-Israeli banker and partner of Dominique Strauss-Kahn, the disgraced former chief of the International Monetary Fund, was found dead

Shawn D. Miller  (Nov), 42, Managing Director Citigroup, New York, 

Johnny Elichaoff

Huibert Boumeester  (Dec 8) 49,A DUTCH financier who went missing after leaving his job at troubled banking group ABN Amro has been found dead with gunshot wounds. Staff at Artemis Assets Management, where the missing businessman was appointed to the board following a merger with ABN Amro, said he resigned in March this year citing "personal reasons".

Robert Matthews   Vice Chairman of Commercial Banking and a member of the Citizens Financial Group board of directors 

2015

Wolters Kluwer N.V. (AEX: WKL) is a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. Wolters Kluwer reported 2015 annual revenues of €4.2 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,000 people worldwide.
http://wolterskluwer.com/company/newsroom/news/2016/09/wolters-kluwer-governance-risk--compliance-agrees-to-sell-indirect-loan-origination-solutions.html

Press Release
Citigroup Affiliates to Pay $180 Million to Settle Hedge Fund Fraud Charges

FOR IMMEDIATE RELEASE
2015-168

Washington D.C., Aug. 17, 2015—

The Securities and Exchange Commission today announced that two Citigroup affiliates have agreed to pay nearly $180 million to settle charges that they defrauded investors in two hedge funds by claiming they were safe, low-risk, and suitable for traditional bond investors. The funds later crumbled and eventually collapsed during the financial crisis.

Citigroup Global Markets Inc. (CGMI) and Citigroup Alternative Investments LLC (CAI) agreed to bear all costs of distributing the $180 million in settlement funds to harmed investors.

An SEC investigation found that the Citigroup affiliates made false and misleading representations to investors in the ASTA/MAT fund and the Falcon fund, which collectively raised nearly $3 billion in capital from approximately 4,000 investors before collapsing. In talking with investors, they did not disclose the very real risks of the funds. Even as the funds began to collapse and CAI accepted nearly $110 million in additional investments, the Citigroup affiliates did not disclose the dire condition of the funds and continued to assure investors that they were low-risk, well-capitalized investments with adequate liquidity. Many of the misleading representations made by Citigroup employees were at odds with disclosures made in marketing documents and written materials provided to investors.

“Firms cannot insulate themselves from liability for their employees’ misrepresentations by invoking the fine print contained in written disclosures,” said Andrew Ceresney, Director of the SEC’s Enforcement Division. “Advisers at these Citigroup affiliates were supposed to be looking out for investors’ best interests, but falsely assured them they were making safe investments even when the funds were on the brink of disaster.”

According to the SEC’s order instituting a settled administrative proceeding:

The ASTA/MAT fund was a municipal arbitrage fund that purchased municipal bonds and used a Treasury or LIBOR swap to hedge interest rate risks.
The Falcon fund was a multi-strategy fund that invested in ASTA/MAT and other fixed income strategies, such as CDOs, CLOs, and asset-backed securities.
The funds, both highly leveraged, were sold exclusively to advisory clients of Citigroup Private Bank or Smith Barney by financial advisers associated with CGMI. Both funds were managed by CAI.
Investors in these funds effectively paid advisory fees for two tiers of investment advice: first from the financial advisers of CGMI and secondly from the fund manager, CAI.
Neither Falcon nor ASTA/MAT was a low-risk investment akin to a bond alternative as investors were repeatedly told.
CGMI and CAI failed to control the misrepresentations made to investors as their employees misleadingly minimized the significant risk of loss resulting from the funds’ investment strategy and use of leverage among other things.
CAI failed to adopt and implement policies and procedures that prevented the financial advisers and fund manager from making contradictory and false representations.

CGMI and CAI consented to the SEC order without admitting or denying the findings that both firms willfully violated Sections 17(a)(2) and (3) of the Securities Act of 1933, GCMI willfully violated Section 206(2) of the Investment Advisers Act of 1940, and CAI willfully violated Section 206(4) of the Advisers Act and Rules 206(4)-7 and 206(4)-8. Both firms agreed to be censured and must cease and desist from committing future violations of these provisions.

The SEC’s investigation has been conducted by Olivia Zach, Kerri Palen, David Stoelting, and Celeste Chase of the New York Regional Office, and supervised by Sanjay Wadhwa.

###

https://www.sec.gov/news/pressrelease/2015-168.html

Citigroup, Barclays, JPMorgan and Royal Bank of Scotland Group Plc pleaded guilty in the U.S. in May 2015 to conspiring to rig currency rates. UBS received immunity from prosecution in the currency case, but its conduct breached an earlier agreement over its role in manipulating benchmark interest rates.        https://www.bloomberg.com/news/articles/2017-01-10/-cartel-currency-traders-said-to-face-u-s-rigging-charges
 

STIPULATED FINAL JUDGMENT AND ORDER WITH RESPECT TO
JPMORGAN CHASE BANK, N.A.

STIPULATED FINAL JUDGMENT AND ORDER WITH RESPECT TO WELLS
FARGO BANK, N.A.

The Bureau and the CPD bring this action against Wells Fargo Bank, N.A. (“Wells Fargo”),
JPMorgan Chase Bank, N.A. (“Chase”), Elaine Oliphant Cohen, and Todd Cohen (collectively,
“Defendants”)

 BULLETIN: Advanced Sales: New IRS policy for Rollovers from One Traditional IRA to Another Traditional IRA    

OCC Enforcement Actions and Terminations

http://www.ffiec.gov/nicpubweb/nicweb/OrgHierarchySearchForm.aspx?parID_RSSD=1073757&parDT_END=99991231

https://www2.fdic.gov/idasp/confirmation_outside.asp?inCert1=3510

China’s Stock-Market Regulator Is Investigating Citic Securities
Move is an escalation of authorities’ investigations into irregularities at the country’s biggest brokerage
Updated Nov. 26, 2015 9:49 a.m. ET

SHANGHAI—China’s securities regulator has launched a probe into Citic Securities Co. for suspected violations of securities rules, escalating a crackdown on the country’s largest stockbroker at the center of a broad campaign to clean up the financial sector following the summer’s stock-market rout.

In a statement to the Shanghai Stock Exchange, Citic Securities said that it has received notification from the China Securities Regulatory Commission regarding the investigation, without offering further details. The...
https://www.wsj.com/articles/citic-securities-probed-by-chinas-stock-market-regulator-1448537277

Omar Meza      AIG NEW executive  

Michael Flanagan  Head of Foreign Exchange Institutional Sales at National Australia Bank.

Chris van Eeghen  head of syndicate and corporate finance markets at ABN Amro Group NV 

MONEY | Wed Dec 16, 2015 | 4:34pm EST
Wells Fargo eyes insurance brokerage acquisitions
By Dan Freed
Wells Fargo & Co (WFC.N) is restarting efforts to expand its insurance brokerage business through acquisitions after previously announced M&A aspirations did not pan out.

Laura Schupbach, evp and head of Wells Fargo Insurance, said she “hit the pause button” on plans to do deals after she determined when taking the reins of the business four years ago that existing businesses were not fully integrated after earlier deals over a period of about 15 years.

Schupbach cited technology platforms and contracts with insurance carriers as examples of inconsistencies that have now been addressed across the bank's 2500 person insurance brokerage and consulting unit.

Having resolved those issues and "upgraded talent," Wells Fargo is again looking at M&A, Schupbach said in an interview.

"We’re very interested in building out industry expertise," Schupbach said on Tuesday. She cited industries including healthcare, hospitals and agriculture as possible targets. In terms of size of a deal, she said Wells Fargo would prefer to target larger companies as they are "used to serving clients with more sophisticated needs."

On the low end, Schupbach said "Could it be $20-50 million? Maybe." She declined to comment regarding the possible high end of the range and added that she can grow the business without acquisitions if necessary.

State Street appoints Steve Cook senior vice president of U.S. investor services
Wells told Reuters in August it is selling its crop insurance business, thought to be valued at $1 billion.

Elaborating on those plans, Schupbach said Wells targeted the business for sale because it does not provide as much opportunity as the bank's other insurance business lines to serve bank consumer and commercial customers.

(Reporting by Dan Freed; Editing by Andrew Hay)

Our Standards: The Thomson Reuters Trust Principles

http://www.reuters.com/article/us-wells-fargo-insurance-idUSKBN0TZ2ZC20151216

The Bank of New York Mellon Corporation
https://www.sec.gov/litigation/admin/2015/34-75720.pdf

More than one way to control a Banker :  

 

Igor Artamonov – West Siberian Bank of Sberbank, Daughter found dead

Nick Bagnall – Director at Bank of Tokyo-Mitsubishi, son accidentally killed himself while trying to re-enact a Tudor hanging

Kevin Bespolka – Citi Capital Advisors, Dresdner Bank, Merrill Lynch and Morgan Stanley, Seriously injured and son dead

Robin Clark – RP Martin -Wolf of Shenfield City banker shot, survived

Fang Fang – JP Morgan, China, disgraced

Chris Latham – Bank of America, on trial, Murder for Hire

Hector Sants, Barclays – resigned due to stress and exhaustion, after being told he risked more serious consequences to his health if he continued to work – a remarkable turnaround as the Church reportedly approached him two months later and was told he had made a full recovery.

Robert Wheeler, 49, a Deutsche Bank financial advisor, disgraced

Hector Sants, Barclays – resigned due to stress and exhaustion, after being told he risked more serious consequences to his health if he continued to work – a remarkable turnaround as the Church reportedly approached him two months later and was told he had made a full recovery.

WHAT IS  MAIN PERSON INSURANCE?

The Messes Made by the Elite 

Open Letter From Jan Tetstone

2016
 
Bank Name City ST CERT Acquiring Institution Closing Date Updated Date
GreenChoice Bank, fsb Chicago IL 28462 Providence Bank, LLC July 25, 2014 December 12, 2016
Eastside Commercial Bank Conyers GA 58125 Community & Southern Bank July 18, 2014 July 11, 2016

 
2017
 
January, 2017

#N17-001
UNITED STATES OF AMERICA
DEPARTMENT OF THE TREASURY
OFFICE OF THE COMPTROLLER OF THE CURRENCY
In the Matter of
ROHAN RAMCHANDANI, Former Head of European FX
Spot Trading CITIBANK, N.A.
SIOUX FALLS, SOUTH DAKOTA
OCC AA-EC-2017-2

NOTICE OF CHARGES FOR PROHIBITION
AND
NOTICE OF ASSESSMENT OF CIVIL MONEY PENALTY

Take notice that on a date to be determined by the Administrative Law Judge, a hearing
will commence in the District of South Dakota , pursuant to 12 U.S.C. § 1818(e) and (i),
concerning the charges set forth herein to determine whether Orders should be issued against
Rohan Ramchandani ( “Respondent”), the former Head of European Foreign Exchange (“FX”)
Spot Trading at Citibank, National Association, Sioux Falls, South Dakota ( “Bank”),

https://www.occ.gov/static/enforcement-actions/eaN17-001.pdf
 
Bank Name City ST CERT Acquiring Institution Closing Date Updated Date

Fayette County Bank Saint Elmo IL 1802 United Fidelity Bank, fsb May 26, 2017 July 26, 2017
Guaranty Bank, (d/b/a BestBank in Georgia & Michigan) Milwaukee WI 30003 First-Citizens Bank & Trust Company May 5, 2017 July 26, 2017
First NBC Bank New Orleans LA 58302 Whitney Bank April 28, 2017 July 26, 2017
Proficio Bank Cottonwood Heights UT 35495 Cache Valley Bank March 3, 2017 May 18, 2017
Seaway Bank and Trust Company Chicago IL 19328 State Bank of Texas January 27, 2017 May 18, 2017
Harvest Community Bank Pennsville NJ 34951 First-Citizens Bank & Trust Company January 13, 2017 May 18, 2017
 
Trump’s Justice Department Goes Easy on Citigroup Unit for Criminal Money Laundering

By Pam Martens and Russ Martens: May 23, 2017

Scales of JusticeCitigroup, the Wall Street mega bank that taxpayers were forced to prop up in the largest bailout of a financial institution in U.S. history from 2008 to 2010, is also a recidivist lawbreaker that the U.S. Justice Department fails to tame regardless of who occupies the Oval Office.

Under the Obama administration, Citigroup was repeatedly fined by its Federal regulators for serious abuses of the law and its customers but only once was a felony count leveled against the bank. On May 20, 2015, Citicorp, a unit of Citigroup, pleaded guilty to a felony charge in connection with the rigging of foreign currency trading. (Three other banks, JPMorgan Chase, Barclays PLC and the Royal Bank of Scotland (RBS) also pleaded guilty to felony charges in the same matter. UBS, at the same time, pleaded guilty to rigging the interest rate benchmark known as Libor.)

Trump’s Justice Department is now raising eyebrows for handing another unit of Citigroup a non-prosecution agreement yesterday for egregious money laundering violations.

The Justice Department’s Acting Assistant Attorney General, Kenneth A. Blanco, announced yesterday that Banamex USA, a unit of Citigroup, was being given a non-prosecution agreement and forfeiting $97.44 million. Banamex USA agreed to admit to criminal violations for “willfully failing to file Suspicious Activity Reports (SARs).”

SARs are one of the most basic procedures that U.S. banks employ to guard against money laundering. And yet, the Justice Department found the following at Banamex USA:

“According to admissions contained in the NPA [non-prosecution agreement] and the accompanying statement of facts, from at least 2007 until at least 2012, BUSA [Banamex USA] processed more than 30 million remittance transactions to Mexico with a total value of more than $8.8 billion. During the same period, BUSA’s monitoring system issued more than 18,000 alerts involving more than $142 million in potentially suspicious remittance transactions. BUSA, however, conducted fewer than 10 investigations and filed only nine SARs in connection with these 18,000-plus alerts, filing no SARs on remittance transactions between 2010 and 2012.”

Equally disturbing about the Justice Department’s non-prosecution agreement is the fact that Citigroup and Banamex USA are only required to cooperate with the Justice Department on violations of federal money laundering statutes for a period of one year, or to report any evidence it has of money laundering for just one year.

Given Citigroup’s history in the arena of money laundering, one would have expected the Justice Department to wring much graver concessions from the bank.

In November 1999, the U.S. Senate’s Permanent Subcommittee on Investigations exposed the international money dealings at Citigroup’s commercial bank, Citibank. In his opening remarks, Senator Carl Levin explained how the bank operated:

“Today we are looking at the private bank of Citibank. It is the largest bank in the United States, and it has one of the largest private bank operations. It has the most extensive global presence of all U.S. banks, and it had a rogues’ gallery of private bank clients. Citibank has been private banker to:

“– Raul Salinas, brother to the former President of Mexico; now in prison in Mexico for murder and under investigation in Mexico for illicit enrichment; [Salinas had his murder conviction overturned on appeal and was released from prison in 2005.]

“– Asif Ali Zardari, husband to the former Prime Minister of Pakistan; now in prison in Pakistan for kickbacks and under indictment in Switzerland for money laundering;

“– Omar Bongo, President of Gabon; subject of a French criminal investigation into bribery;

“– sons of the General Sani Abacha, former military leader of Nigeria; one of whom is now in prison in Nigeria on charges of murder and under investigation in Switzerland and Nigeria for money laundering;

“– Jaime Lusinchi, former President of Venezuela; charged with misappropriation of government funds;

“– two daughters of Radon Suharto, former President of Indonesia, who has been alleged to have looted billions of dollars from Indonesia…

“– General Albert Stroessner, former President of Paraguay and notorious for decades for a dictatorship based on terror and profiteering.”

Robert L. Roach, Counsel to the Senate investigation, outlined during the hearing the services that Citibank had provided to Raul Salinas, brother to then President of Mexico, Carlos Salinas, as follows:

“The private bank…established a shell company for Mr. Salinas with layers of disguised ownership. It permitted a third party using an alias to deposit funds into the accounts, and it moved the funds out of Mexico through a Citibank concentration account that aided in the obfuscation of the audit trail. Cititrust in the Cayman Islands activated a Cayman Island shell corporation called a PIC, or private investment corporation, called Trocca, Ltd., to serve as the owner of record for the Salinas private bank accounts…

“Cititrust used three Panamanian shell companies to function as Trocca’s Board of Directors. Cititrust also used three Cayman Island shell companies to serve as Trocca’s officers and principal shareholders. Cititrust controls all six of these shell companies and routinely uses them to function as directors and officers of PICs that it makes available to private clients. Later, Citibank established a trust, identified only by a number, to serve as the owner of Trocca, Ltd. Raul Salinas was the secret beneficiary of the trust.

“The result of this elaborate structure was that the Salinas name did not appear anywhere on Trocca’s incorporation papers. The Trocca, Ltd. accounts were established in London and Switzerland…

“To accommodate Mr. Salinas’ desire to conceal the fact that he was moving money out of Mexico, Ms. [Amy] Elliott [a Relationship Manager at Citibank] introduced Mr. Salinas’ then-fiancee Paulina Castanon as Patricia Rios to a service officer at the Mexico City branch of Citibank. Operating under that alias, Ms. Castanon would deliver cashiers checks to the branch where they would be converted into dollars and wired into a concentration account in New York. The concentration account is a business account established by Citibank to hold funds from various destinations prior to depositing them into the proper accounts. Transferring funds through this account enables a client’s name and account number to be removed from the transaction, thereby clouding the audit trail. From there, the money would be transferred to the Trocca, Ltd. accounts in London and Switzerland…

“Between October 1992 and October 1994, more than $67 million was moved from Mexico to New York and then on to London and Switzerland by way of this system…Yet no one questioned Mr. Salinas about the origin of these funds. Far from inquiring about the sources of the funds, Ms. Elliott wrote to her colleagues in June 1993 that the Salinas account ‘is turning into an exciting, profitable one for us all. Many thanks for making me look good.’ ’’

Roach further expounded on how the Relationship Manager’s need to “please the client” trumped their responsibilities under the law, stating that “After Mr. Salinas was arrested, Hubertus Rukavina, the head of Citibank Private Bank at the time, suggested that the Salinas accounts in London be transferred back to Switzerland because they would be afforded more secrecy there.”

Amy Elliott, according to Roach, even advised Mrs. Salinas “that it might be wise to move the Trocca, Ltd. account out of Citibank because it might be more difficult for Mexican authorities to obtain account information from a non-U.S. bank.”

At one point during the hearing, Senator Levin questioned Amy Elliott on the transcript of a phone conversation she had with a colleague:

Senator Levin: “On another matter, the day after Mr. Salinas was arrested, you said the following: ‘Everybody was on board on this.’ Later, in the same conversation, you said, ‘I mean, this goes in the very, very top of the corporation this was known, Okay? On the very top.’ Then you said, ‘We are little pawns in this whole thing, Okay?’ Who were you referring to when you said ‘this goes in the very top of the corporation this was known’? Who are you referring to at the very top of the corporation”?

Amy Elliott: “Bill Rhodes…I am sitting four or five down from the chairman, and Bill Rhodes was and is the vice chairman of the bank. To me, that’s pretty top.”

If President Trump were serious about draining the swamp and making America great again, he would start with a Justice Department that knows how to flex its muscles against the serial lawbreakers on Wall Street.

Related Article:

Exclusive: Panama Papers Hub in Miami: Citigroup’s [Very] Private Bank

http://wallstreetonparade.com/2017/05/trumps-justice-department-goes-easy-on-citigroup-unit-for-criminal-money-laundering/
 
G Edward Griffin Creature From Jekyll Island Second Look at the Federal Reserve
mattmattmatt1100   Published on May 7, 2011

 

 Jekyll Island Club  was incorporated on December 9, 1885. Members include  such famous names as Henry Hyde, Marshall Field, John Pierpont Morgan, Joseph Pulitzer,William K. Vanderbilt, and Nelson W. Aldrich .Later it will include  John D. Rockefeller (Standard Oil).

 

MAR-A-LAGO CLUB, INC.
Filing Information
Document Number F95000002228
FEI/EIN Number 13-3818196
Date Filed 05/05/1995
Donald J. Trump
 
Once wasn't enough for Donald Trump.....He is smart enough to know how to move[or hide] his money, by using LLC companies.  
 
Corporate Name Document Number Status
MAR-A-LAGO CLUB, INC. F95000002228 Active
MAR-A-LAGO CLUB, L.L.C., L.C. M95000000090 NAME HS
MAR-A-LAGO CLUB, L.L.C. M95000000090 CROSS RF
MAR-A-LAGO CLUB, L.L.C. M95000000090 Active
THE MAR-A-LAGO CLUB, INC. P93000008099 INACT/MG
THE MAR-A-LAGO CLUB T97000000904 INACT
THE MAR-A-LAGO CLUB & DES. OF A CREST, A SHIELD W/THREE LIONS ON IT, A SUIT OF ARMOUR HEADPIECE ON TOP, & AN ARM HOLDING A SPEAR PROTRUDING FROM THE CROWN, OVER BANNER W/WORDS "MAR A LAGO" T97000000906
 
Members of the Mar a Lago Club:  The club has nearly 500 paying members (with a cap of 500) and admits twenty to forty new members a year. Members include oil executive Bill Koch, financier Thomas Peterffy, New Jersey Democratic Party leader George Norcross, lobbyist Kenneth Duberstein, real estate developers Bruce E. Toll and Richard LeFrak, media executive Christopher Ruddy, talk show host Howie Carr, talk show host Michael Savage/s wife, and NFL coach Bill Belichick.
 
One has only to read their history ..... 
 
For over 200 years, not only Americans, but people worldwide, have been 'blindsided'. ....Why are so many bankers, and people connected to elite owned banks dying.....?My guess is, somewhere along the line, they saw first hand how the Corporation of the United States, was manipulating the 'paperwork'...and cheating people out of their money and their homes....and many were murdered.....Because, they were decent, honest, hard working human beings. Trump didn't just get elect President of the US, like all the Presidents before him... Trump became head of the US Banking Corporation.
 
Like Citigroup....that has many names insurance, banking etc. Members of the elite 'bloodline' have many faces and are recognizable by their attitude that they know better what to do with your money than you do.
 
The banking business is nothing more than a giant con game. It's time to 'show' the elite that the American people [that doesn't include those just living on American soil]  ARE FED UP WITH THEM SELLING OUR  COUNTRY OFF TO THE HIGHEST BIDDER.    jt
Note:  The Jekyll Island Club and the Mar A Lago Club are incorporated in the  state of Florida. 
 
CITIGROUP- THE SNAKE OF ALL SNAKES
 
"A rich man's chains is his money.
A poor man's riches  increases
 according to the treasures stored
inside his heart.
Not all are rich. Not all are poor.
Some are seekers of  power over
others. Others seek  only what waits
at heaven's door." - Jan Tetstone  July 10, 2017
 

“Citigroup Inc.”
a.k.a. “Citi Group Inc.”, “Citigroup Inc”, “Citigroup, Inc.”
Latest Filing: 7/7/17 as Registrant
As: Registrant

Citigroup Inc [ formerly Travelers Group Inc ]

As: Group Member (Non-Registrant Filer: Partner, Affiliate, etc.)
List all Filings as Group Member

Search Recent Filings (as Group Member) for “Citigroup Inc.”
“Citigroup Inc.” has been a Group Member with the following 44 Registrants:

2006 Co-Investment Portfolio, L.P. [ formerly Citigroup Capital Partners II 2006 Citigroup Investment, L.P. ]
Arclight Energy Partners Fund I LP
Becker Douglas L
Cable Systems Holding LLC
Chase Acquisition Corp
Citicorp
Citigroup Capital XII
Citigroup Capital XIII
Citigroup Capital XIV
Citigroup Capital XIX
Citigroup Capital XV
Citigroup Capital XVI
Citigroup Capital XVII
Citigroup Capital XVIII
Citigroup Capital XX
Citigroup Capital XXI
Citigroup Funding Inc.
Citigroup Global Markets Holdings Inc.
Citigroup Inc [ formerly Travelers Group Inc ]
Citigroup Venture Capital Equity Partners LP
ClearBridge Asset Management, Inc. [ formerly Salomon Brothers Asset Management Inc ]
Dri Acquisition LLC
Endo Pharma LLC
Frist Thomas F Jr
Hoehn Saric Ruldolf Christopher
Howard Hughes Medical Institute [ formerly Hughes Howard Medical Institute ]
Jones Paul W
Safety First Trust Series 2006-1
Safety First Trust Series 2006-10
Safety First Trust Series 2006-2
Safety First Trust Series 2006-3
Safety First Trust Series 2006-4
Safety First Trust Series 2006-5
Safety First Trust Series 2006-6
Safety First Trust Series 2006-7
Safety First Trust Series 2006-8
Safety First Trust Series 2006-9
Safety First Trust Series 2008-6
Safety First Trust Series 2009-1
Safety First Trust Series 2009-2
Safety First Trust Series 2009-3
StepStone Group LP [ formerly StepStone Group LLC ]
Structured Products Corp
US Can Corp

“Citigroup Inc.” has/had a Group Member interest in the following 63 Registrants:

Blackstone Mortgage Trust, Inc. [ formerly Capital Trust Inc ]
Buenos Aires Bottling Co Inc
Cameron Ashley Building Products Inc [ formerly Cameron Ashley Inc ]
Chase Industries, LLC [ formerly Chase Industries Inc ]
Chromcraft Revington Inc
Citigroup Capital XII
Citigroup Capital XIII
Citigroup Capital XIV
Citigroup Capital XIX
Citigroup Capital XV
Citigroup Capital XVI
Citigroup Capital XVII
Citigroup Capital XVIII
Citigroup Capital XX
Citigroup Capital XXI
Citigroup Funding Inc.
Citigroup Global Markets Holdings Inc.
Citigroup Inc [ formerly Travelers Group Inc ]
Cort Business Services Corp [ formerly New Cort Holdings Corp ]
Crown Castle International Corp
Del Webb Corp
Educate Inc
Endo Health Solutions Inc. [ formerly Endo Pharmaceuticals Holdings Inc ]
Enova Systems Inc [ formerly US Electricar Inc ]
Galey & Lord Inc
HCA Healthcare, Inc. [ formerly HCA Holdings, Inc. ]
Hca Inc
Hudson Hotels Corp [ formerly Microtel Franchise & Development Corp/NY ]
Imc Mortgage Co
Ipc Communications Inc/DE
Kemet Corp
Laureate Education, Inc. [ formerly Sylvan Learning Systems Inc ]
Macdermid Inc
ON2 Technologies, Inc.
Pamida Holdings Corp/DE
Patriot Coal Corp [ formerly Eastern Coal Holding Company, Inc. ]
Remy International, Inc. [ formerly Delco Remy International Inc ]
Rocky Brands, Inc. [ formerly Rocky Shoes & Boots Inc ]
Rti International Metals Inc
Safety First Trust Series 2006-1
Safety First Trust Series 2006-10
Safety First Trust Series 2006-2
Safety First Trust Series 2006-3
Safety First Trust Series 2006-4
Safety First Trust Series 2006-5
Safety First Trust Series 2006-6
Safety First Trust Series 2006-7
Safety First Trust Series 2006-8
Safety First Trust Series 2006-9
Safety First Trust Series 2008-6
Safety First Trust Series 2009-1
Safety First Trust Series 2009-2
Safety First Trust Series 2009-3
Search Financial Services Inc [ formerly Search Capital Group Inc ]
Structured Products Corp
Swisher International Group Inc
TA Delaware, Inc. [ formerly TD Delaware, Inc. ]
Titan International Inc [ formerly Titan Wheel International Inc ]
Toolex International NV [ formerly Toolex Alpha NV ]
Travelers Insurance Group Holdings Inc [ formerly Travelers Property Casualty Corp ]
Ugc Europe Inc [ formerly United Pan Europe Communications NV ]
US Can Corp
Wattage Monitor Inc

“Citigroup Inc.” has been a Group Member with the following 225 Group Members:

2006 Co-Investment Portfolio, L.P.
399 Venture Partners Inc
Alfred C. Eckert III
Arclight Capital Holdings LLC
Arclight Energy Partners Fund II LP
ArcLight PEF GP II, LLC
ArcLight PEF GP, LLC
Associated Madison Companies Inc.
Atlas World Carriers S.A
B. Scott Spears
Banc of America Securities Holdings Corporation
Banc of America Securities LLC
Bank of America Corporation
Barcel Corporation
Berkshire Fund V Investment Corp.
Berkshire Investors I LLC
Berkshire Investors II LLC
Berney Philip E
Board of Trustees of the Leland Stanford Junior Universi
Board of Trustees of the Leland Stanford Junior University
Cable Systems Holding LLC
Caisse De D?P?T Et Placement Du Qu?Bec
Caisse De Depot Et Placement Du Quebec
Carl Ferenbach
Cascade Investment LLC
Cgi Cpe LLC
Cgi Private Equity LP, LLC
Chase Acquisition Corp
Chase Aquisition Corp.
Christopher Paucek
Citibank (Luxembourg) S.A.
Citibank N.A
Citicorp
Citicorp Banking Corporation
Citicorp Capital Investors Europe Limited
Citicorp Foundation
Citicorp Holdings Company
Citicorp International Finance Corporation
Citicorp Venture Capital Limited
Citicorp Venture Capital Ltd
Citicorp, N.A.
Citigroup Alternative Investements LLC
Citigroup Alternative Investments LLC
Citigroup Banking Corporation
Citigroup Capital Partners II 2006 Citigroup Investment, L.P
Citigroup Capital Partners II 2007 Citigroup Inv, L.P.
Citigroup Capital Partners II 2007 Citigroup Investment, L.P
Citigroup Capital Partners II Cayman Holdings LP
Citigroup Capital Partners II Employee Master Fund L.P.
Citigroup Capital Partners II Onshore, L.P.
Citigroup Financial Products Inc
Citigroup Funding Inc
Citigroup Global Markets Holdings Inc
Citigroup Holding Company
Citigroup Holdings Company
Citigroup Investments Inc
Citigroup Private Equity L.P.
Citigroup Venture Capital GP Holdings Ltd
Court Square Capital Limited
Court Square Capital Ltd
Cpe Co-Investment (Laureate) LLC
CVC Partners LLC
Daniel R Revers
David I Wahrhaftig
David Kirby
David R. Ford
David Turnbull
Dri Acquisition LLC
Dri Group LLC
Dwayne Francisco
Edge Acquisition Corporation
Edge Acquisition, LLC
Edward A Mule
Empire Investments, S.A
Endo Pharma LLC
Eric D Becker
Everest Capital Limited
Francisco A Soler
Frank K Bynum Jr
Frank T Nickell
Frisco Inc
Frisco Partners
George E Matelich
Gillian V.N. Derbyshire
Goldberg Michael B
Greenwich Fund, L.P.
Greenwich Street Capital Offshore Fund, Ltd.
Greenwich Street Capital Partners II, L.P.
Greenwich Street Capital Partners Inc.
Greenwich Street Capital Partners, L.P.
Greenwich Street Investments II, L.L.C.
Greenwich Street Investments L.P.
Greenwich Street Investments, L.L.C.
GSCP Offshore Fund, L.P.
Howard Hughes Medical Institute
J. Michael Kirk
Jeffrey Cohen
Jeffrey H. Cohen
John F. Erhard
John L. Workman
John O'Mara
Jones Paul W
Joseph S Schuchert
Katsura, S.A.
Keith St. Clair
Keith W, Abell
Kelso Equity Partners V L.P.
Kelso Investment Associates V L.P.
Kelso Partners V L.P.
Kevin E. Shaffer
Kevin Shaffer
L Curve Sub Inc.
Lennoxville Investments, Inc.
Louis B. Susman
M Curve Sub Inc.
Merrick M. Elfman
Merrill Lynch & Co Inc
Merrill Lynch Bank USA
Merrill Lynch Financial Markets Inc
Merrill Lynch International
Merrill Lynch Pierce Fenner & Smith Incorporated
Merrill Lynch Professional Clearing Corp
Merrill Lynch Trust Company FSB
Mutual Management Corp.
Nationsbanc Montgomery Holdings Corporation
NB Holdings Corporation
Pac Packaging Acquisition Corp
Pac Packaging Acquisition Corporation
Patel Sanjay H
Patricia Champion Frist
Patricia Frist Elcan
Paul Vining
Perry Corp
Peter J. Cohen
PFS Services, Inc
R-H Capital Partners, L.P.
R-H Capital, Inc.
R-H/Travelers, L.P.
R. Christopher Hoehn Saric
Ricardo Poma
Richard C. Perry
Richard Verheij
Robb E. Turner
Robert Bennett
Robert O'Shea
Roger B. Farley
Safety First Trust 2006-1
Safety First Trust Series 2006-1
Safety First Trust Series 2006-10
Safety First Trust Series 2006-2
Safety First Trust Series 2006-3
Safety First Trust Series 2006-4
Safety First Trust Series 2006-5
Safety First Trust Series 2006-6
Safety First Trust Series 2006-7
Safety First Trust Series 2006-8
Safety First Trust Series 2006-9
Safety First Trust Series 2008-6
Safety First Trust Series 2009-1
Safety First Trust Series 2009-2
Safety First Trust Series 2009-3
Salcorp Ltd.
Salomon Brothers Europe Limited
Salomon Brothers Holding Company Inc
Salomon Brothers International Limited
Salomon International LLC
Salomon Smith Barney Holdings Inc.
Salomon Smith Barney Inc
SB Motel Corp.
SC Partners II, L.P.
SC Partners III, L.P.
SC Partners, L.P.
Scarsdale Company N.V., Inc.
Sigma Capital Management LLC
Sillc Holdings, LLC
Silver Point Capital Fund, L.P.
Silver Point Capital General Partner, LLC
Silver Point Capital Holdings, LLC
Silver Point Capital L.P.
Silver Point Capital Management LLC
Silver Point Capital Management, L.P.
Silver Point Partners
Stepstone Capital Partners II Cayman Holdings, L.P.
Stepstone Capital Partners II Onshore, L.P.
StepStone Co-Investment Funds GP, LLC
Stepstone Group LLC
Sterling Capital Partners GmbH & Co. KG
Sterling Capital Partners II, L.P.
Sterling Capital Partners II, LLC
Sterling Capital Partners III, L.P.
Sterling Capital Partners III, LLC
Sterling Capital Partners, L.P.
Sterling Capital Partners, LLC
Steven A Cohen
Steven M Taslitz
Strategic Industries, LLC
Structured Products Corp
The Northwestern Mutual Life Insurance Company
The Travelers Indemnity Company
The Travelers Insurance Company
The Travelers Insurance Group Inc.
The Travelers Life and Annuity Company
The World Financial Corp. S.A.
The World Financial Corporation S.A.
Thomas A. Scrimo
Thomas F Frist III
Thomas R Wall IV
Timothy Elliott
Tindy Re Investments, Inc.
Tom McQuade
Travelers Casualty & Surety Company
Travelers General Real Estate Mezzanine Investment II, LLC
Travelers Insurance Group Inc.
Travelers Limited Real Estate Mezzanine Investment I, LLC
Travelers Property Casualty Corp.
TRV Employees Fund, L.P.
TRV Employees Investments, Inc
U.S. Can Corporation
US Can Corp
Wengen Alberta, Limited Partnership
Wengen Investments Limited
William H Gates III
William Robert Frist
Windsor International Corp
Windsor International Corporation

As: Signatory (Director, Officer, Attorney, Accountant, Banker, Agent, etc.)
List all Filings as Signatory

Search Recent Filings (as Signatory) for “Citigroup Inc.”
“Citigroup Inc.” has been a Signatory for/with the following 3 Registrants:

Citigroup Funding Inc.
Citigroup Global Markets Holdings Inc.
Citigroup Inc [ formerly Travelers Group Inc ]

“Citigroup Inc.” has/had a Signatory interest in the following 3 Registrants:

Citigroup Funding Inc.
Citigroup Global Markets Holdings Inc.
Citigroup Inc [ formerly Travelers Group Inc ]


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About – Privacy – Redactions – Help — Mon, 10 Jul 14:02:04.1 GMT
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June 14, 2017

by: Caroline Binham and Katie Martin in London

Three British-based former currency traders will try to get their criminal case thrown out of a New York court before it reaches trial after surrendering to US authorities following their sprawling probe into alleged rigging of foreign-exchange benchmarks.

Christopher Ashton of Barclays, Rohan Ramchandani of Citigroup, and Richard Usher of JPMorgan Chase, who formed a chatroom dubbed “the Cartel”, decided not to fight extradition to the US after being charged by the US Department of Justice’s antitrust division earlier this year with a single count of manipulating the market for US dollars and euros.

They all deny wrongdoing. In a deal with the DoJ, they have agreed to surrender voluntarily and pay security in exchange for being able to travel back to the UK pending any trial. The agreement still needs to be approved by a judge and a hearing is scheduled in New York for July 17, when all three men expect to attend.

But they will try to avert any trial by running an argument that the court in the Southern District of New York does not have the jurisdiction to hear their case, according to three people familiar with the situation.

They will argue that they were all British-based traders working in the UK at the time of the alleged wrongdoing, and that the UK’s Serious Fraud Office decided last year to drop its own probe into forex-rigging after concluding there was insufficient evidence to mount a successful prosecution.

They will also point to the extreme scale of the euro-dollar market to cast doubt on whether it was possible for three traders to manipulate the world’s most liquid currency trade, those people added.

The DoJ declined to comment on the case.

The traders were nicknamed the “Cartel” and also the “Mafia” in chatroom messages that were at the heart of multi-bank civil settlements with US and UK authorities in 2014 and 2015. Some of the biggest banks in the world — including those where the traders used to work — have paid a total of $10bn in fines as part of the scandal.

The charges carry a maximum penalty of 10 years in prison and a $1m fine. The maximum fine may be increased to twice the gain derived from the alleged crime or twice the loss suffered by victims if either amount is greater than $1m.

The trio’s decision to surrender to US authorities stands in contrast to that of Stuart Scott, HSBC’s former London-based head of currencies trading who, along with his ex-boss Mark Johnson, 51, was indicted last year by the DoJ’s fraud section in a separate strand of the forex probe. Mr Scott, who lives near London, was arrested last week in the UK at the behest of US authorities. He will contest extradition and denies wrongdoing.
Copyright The Financial Times Limited 2017. All rights reserved. You may share using our article tools. Please don't copy articles from FT.com and redistribute by email or post to the web.


https://www.ft.com/content/1b83fb3a-5060-11e7-bfb8-997009366969?mhq5j=e1
 
Trump Nominates Randal K. Quarles to Oversee Wall Street Banks
By BINYAMIN APPELBAUM JULY 10, 2017

WASHINGTON — President Trump on Monday named Randal K. Quarles, a former Treasury Department official, to serve as the Federal Reserve’s top watchdog overseeing Wall Street and to play a leading role in the administration’s plans to reduce financial regulation.

Mr. Quarles would be the first person to serve in the role of vice chairman for supervision, which Congress created after the financial crisis to sharpen the Fed’s focus on regulatory issues. As a member of the Fed’s board of governors, he would also have a vote on monetary policy.

The position requires Senate confirmation, but Republicans, who hold a majority, can confirm Mr. Quarles without support from Democrats, should that be necessary.

Mr. Quarles, 59, would be a counterweight to the Fed chairwoman, Janet L. Yellen, who has led the Fed’s postcrisis stimulus campaign and its efforts to strengthen financial regulation.

Mr. Quarles has criticized some of those policies, including the focus on constraining the largest banks. He is regarded as more sympathetic than Ms. Yellen to the industry’s view that regulation is restricting lending and impeding economic growth.

Trump Said to Pick Nominees for 2 Positions on Fed Board JUNE 2, 2017

In a 2016 opinion article in The Wall Street Journal, Mr. Quarles warned against “arbitrarily taking an ax to big banks and irreparably damaging the economy.”

Mr. Quarles has also publicly criticized the Fed’s efforts to stimulate the economy, and will probably push for the central bank to end those efforts more quickly.

He has endorsed a Republican proposal to constrain monetary policy by requiring the Fed to publicly describe a mathematical formula for determining the level of interest rates.

In a 2015 interview, Mr. Quarles described the Fed’s opposition to such a rule, and its reliance on subjective decision-making, as a “crazy way to run a railroad.”

Mr. Quarles, 59, was a lawyer for the financial industry before joining the Treasury Department under President George W. Bush in 2002, first as assistant secretary for international affairs and then as under secretary for domestic finance. After leaving the Bush administration in 2006, he became a partner at the Carlyle Group. In 2014, he helped to found the Cynosure Group, a private equity firm based in Salt Lake City.

His wife’s great-uncle is Marriner S. Eccles, the Fed’s chairman from 1934 to 1948 and the namesake of the Fed’s marble headquarters on the National Mall in Washington.

There are two other vacancies on the Fed’s board. The Trump administration plans to nominate the conservative economist Marvin Goodfriend to one of those seats. It is seeking someone with community banking experience for the other seat.

Mr. Trump must also decide whether to nominate Ms. Yellen for a second term as chairwoman. Her four-year term in that role ends in February, although she could choose to remain on the board if she is not renominated as chairwoman.

RELATED COVERAGE
Trump Said to Pick Nominees for 2 Positions on Fed Board JUNE 2, 2017

https://www.nytimes.com/2017/07/10/us/politics/trump-nominates-randal-quarles-to-oversee-wall-street-banks.html?mabReward=TS2&recp=1&moduleDetail=recommendations-1&action=click&contentCollection=N.Y.%20%2F%20Region&region=Footer&module=WhatsNext&version=WhatsNext&contentID=WhatsNext&src=recg&pgtype=article

 

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