Th k 20:

1921 1936: Ln 1
1870 1914: Bn a vng (tin xu bng vng hoc tin giy m bo bng vng)
1907 1913: Hnh thnh h thng d tr lin bang (FED) ti Hoa K
1907: S sp ca Ngn hng, th trng chnh khon gy mt nim tin th trng dn n
mt thanh khon cn c 1 NH trung ng (ngi cho vay cui cng) do CP thnh lp c
kh nng pht hnh tin, ti tr gii cu cc NHTM i ph vi cc cuc khng hong.

1914 1919: Chin tranh th gii th 1

1967 1987: Ln 2 (kt thc bng 2 Hip c)