On May 1st, 2004 Poland became a full European Union Member State, thus opening itself more widely to the world. We have arranged for the integration for a number of years. More and more foreign companies, including banks, invest in our country. The banks' offer across the world is ever more extensive, with the United States being the leader in this respect. Understanding the American banking system is especially important for Poles, in terms of our domestic banks being able to rival the competition and establish good cooperation with foreign banks. Learning the structure and functioning of the U.S. banking system derives from the examination of the legal acts underlying the banking regulations and specifying principles for the operation of commercial banks and the deposit guarantee system. The establishment of the FDIC - Federal Deposit Insurance Corporation is of great importance here.

The beginnings of the development of banks in the United States are considered to be chaotic and unregulated. Only with time and due to crises that beset this economy sector, the government became involved in improving the system and building up public trust in banks. The number of financial institutions was on a steady increase, which boosted the sector's competitiveness. In 1864, the National Bank Act took effect and for years provided the foundation for the operation of American banks. However, it introduced numerous unfavourable restrictions - for instance, it prohibited banking operations beyond the territory of the state in which the bank operated. Another important legal act was the Glass-Steagal Act of 1933. Some of its provisions remained binding until 1999, when the Gramm-Leach-Bliley Act was adopted. The Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) took effect in the late 80s. The Act was, inter alia, to consolidate the federal deposit insurance system.

Crucial changes in the American banking system were implemented after 1989. In this context, the crisis of the 90s is significant, since it undoubtedly influenced the structure of the described sector.

A number of changes have been suggested in recent years. However, they have not been introduced due to insufficient support from the state authorities. They often pertained to increasing the level of insurance for deposits above USD 100,000. Such a proposal enjoys the support of small banks, whereas the country's largest banks object to it. Heated debates on that issue are going on.