paragraph_text: The Chinese Banking Liquidity Crisis of 2013 was a sudden credit crunch affecting China's commercial banks evidenced by a rapid rise on 20 June 2013 in the Shanghai interbank overnight lending rates to a high of 30 percent from its usual rate of less than 3%. The ensuing panic affected gold markets and stock. China's regulation of the foreign exchange market had caused a decline in inflow of cash. On 19 June 2013, instead of injecting additional funds and easing its monetary policy, China's central bank People's Bank of China (PBOC) told commercial banks to "make full use of incremental funds and revitalize stock options." On 24 June 2014 the PBOC told commercial banks to "control the risk associated with credit expansion" effectively increasing the scrutiny of shadow banks' lending practices. This resulted in a sudden shortfall in the cash market resulting in short term repo rates in excess of 25%. In effect China was using market forces to manage the economy.

paragraph_text: Susan George (born June 29, 1934) is an American and French political and social scientist, activist and writer on global social justice, Third World poverty, underdevelopment and debt. She is a fellow and president of the board of the Transnational Institute in Amsterdam. She is a fierce critic of the present policies of the International Monetary Fund (IMF), World Bank (IBRD) and what she calls their 'maldevelopment model'. She similarly criticizes the structural reform policies of the Washington Consensus on Third World development. She is of U.S. birth but now resides in France, and has dual citizenship since 1994.

paragraph_text: The euro is managed and administered by the Frankfurt-based European Central Bank (ECB) and the Eurosystem (composed of the central banks of the eurozone countries). As an independent central bank, the ECB has sole authority to set monetary policy. The Eurosystem participates in the printing, minting and distribution of notes and coins in all member states, and the operation of the eurozone payment systems.

paragraph_text: Lawrence H. White (born November 27, 1954) is an American economics professor at George Mason University who teaches graduate level monetary theory and policy. He is considered an authority on the history and theory of free banking. His writings support the abolition of the Federal Reserve System and the promotion of private and competitive banking.

paragraph_text: The Unemployed Councils of the USA (UC) was a mass organization of the Communist Party, USA established in 1930 in an effort to organize and mobilize unemployed workers to advance party policy goals in preparation for an anticipated final conflict to overthrow capitalism.

paragraph_text: Politics & Policy was founded at Northwestern and is dedicated to the analysis of current events and public policy. Begun in 2010 by students in the Weinberg College of Arts and Sciences, School of Communication, and Medill School of Journalism, the organization reaches students on more than 250 college campuses around the world. Run entirely by undergraduates, Politics & Policy publishes several times a week with material ranging from short summaries of events to extended research pieces. The organization is funded in part by the Buffett Center.

paragraph_text: The monetary base consists of coins and Federal Reserve Notes in circulation outside the Federal Reserve Banks and the U.S. Treasury, plus deposits held by depository institutions at Federal Reserve Banks. The adjusted monetary base has increased from approximately 400 billion dollars in 1994, to 800 billion in 2005, and over 3000 billion in 2013. The amount of cash in circulation is increased (or decreased) by the actions of the Federal Reserve System. Eight times a year, the 12-person Federal Open Market Committee meet to determine U.S. monetary policy. Every business day, the Federal Reserve System engages in Open market operations to carry out that monetary policy. If the Federal Reserve desires to increase the money supply, it will buy securities (such as U.S. Treasury Bonds) anonymously from banks in exchange for dollars. Conversely, it will sell securities to the banks in exchange for dollars, to take dollars out of circulation.

paragraph_text: The Greek economy is classified as advanced and high-income. Greece was a founding member of the Organisation for Economic Co-operation and Development (OECD) and the Organization of the Black Sea Economic Cooperation (BSEC). In 1979 the accession of the country in the European Communities and the single market was signed, and the process was completed in 1982. Greece was accepted into the Economic and Monetary Union of the European Union on 19 June 2000, and in January 2001 adopted the Euro as its currency, replacing the Greek drachma at an exchange rate of 340.75 drachma to the Euro. Greece is also a member of the International Monetary Fund and the World Trade Organization, and is ranked 24th on the KOF Globalization Index for 2013.

paragraph_text: Although an instrument of the U.S. Government, the Federal Reserve System considers itself ``an independent central bank because its monetary policy decisions do not have to be approved by the President or anyone else in the executive or legislative branches of government, it does not receive funding appropriated by the Congress, and the terms of the members of the Board of Governors span multiple presidential and congressional terms. ''The federal government sets the salaries of the board's seven governors. The federal government receives all the system's annual profits, after a statutory dividend of 6% on member banks' capital investment is paid, and an account surplus is maintained. In 2015, the Federal Reserve made a profit of $100.2 billion and transferred $97.7 billion to the U.S. Treasury.

paragraph_text: The Bank of Sierra Leone is the central bank of Sierra Leone. It issues the country's currency, known as the Leone. The bank formulates and implements monetary policy, including foreign exchange.

paragraph_text: The Foreign Policy Association (formerly known as the League of Free Nations Association) is a non-profit organization founded in 1918 dedicated to inspiring the American public to learn more about the world. The Foreign Policy Association aims to spread global awareness and understanding of foreign policy issues. Its President is Noel Lateef.

paragraph_text: The US Federal Reserve belatedly implemented policies similar to the current quantitative easing during the Great Depression of the 1930s. Specifically, banks' excess reserves exceeded 6 percent in 1940, whereas they vanished during the entire postwar period until 2008. Despite this fact, many commentators called the scope of the Federal Reserve quantitative easing program after the 2008 crisis ``unprecedented ''.

paragraph_text: In a mid-credits scene, Logan returns to the United States two years later and is approached at the airport by Erik Lehnsherr, who warns him of a grave new threat to the mutant race; and Charles Xavier, whom Logan previously thought was dead.

paragraph_text: Economic reform efforts continued with the support of international organizations, notably the World Bank and the International Monetary Fund. The reform program came to a halt in June 1997 when civil war erupted. When Sassou Nguesso returned to power at the end of the war in October 1997, he publicly expressed interest in moving forward on economic reforms and privatization and in renewing cooperation with international financial institutions. However, economic progress was badly hurt by slumping oil prices and the resumption of armed conflict in December 1998, which worsened the republic's budget deficit.

paragraph_text: Park Ridge is a suburb of the City of Logan, Queensland, Australia. Park Ridge lies to Logan's west and enjoys a rural setting. There are manicured acreage properties buffered by bushland. At the 2011 census the suburb recorded a population of 2,328. Part of the suburb's western boundary is marked by the Mount Lindesay Highway.

paragraph_text: Policy Studies Journal is a quarterly peer-reviewed academic journal published by Wiley-Blackwell on behalf of the Policy Studies Organization and the American Political Science Association's Public Policy Section. The journal was established in 1972. The current editor-in-chief is Edella Schlager (University of Arizona). The journal publishes articles on a wide range of public policy issues.

paragraph_text: The official position of the Ministry of Foreign Affairs of the People's Republic of China is that the Ming implemented a policy of managing Tibet according to conventions and customs, granting titles and setting up administrative organs over Tibet. The State Council Information Office of the People's Republic states that the Ming dynasty's Ü-Tsang Commanding Office governed most areas of Tibet. It also states that while the Ming abolished the policy council set up by the Mongol Yuan to manage local affairs in Tibet and the Mongol system of Imperial Tutors to govern religious affairs, the Ming adopted a policy of bestowing titles upon religious leaders who had submitted to the Ming dynasty. For example, an edict of the Hongwu Emperor in 1373 appointed the Tibetan leader Choskunskyabs as the General of the Ngari Military and Civil Wanhu Office, stating:

paragraph_text: Government involvement in the British economy is primarily exercised by Her Majesty's Treasury, headed by the Chancellor of the Exchequer, and the Department for Business, Energy and Industrial Strategy. Since 1979 management of the economy has followed a broadly laissez - faire approach. The Bank of England is the UK's central bank and its Monetary Policy Committee is responsible for setting interest rates, quantitative easing, and forward guidance.

paragraph_text: Andrzej Sławiński (born July 31, 1951 in Warsaw) is a Polish economist and Professor of Economics at the Warsaw School of Economics. He is a member of the Council of Monetary Policies since 2004 and a fellow of Collegium Invisibile.

paragraph_text: Monetary policy concerns the actions of a central bank or other regulatory authorities that determine the size and rate of growth of the money supply. For example, in the United States, the Federal Reserve is in charge of monetary policy, and implements it primarily by performing operations that influence short - term interest rates.

Question: When did the banking system setting monetary policy for the country to where Logan returns start quantitative easing?
Answer: during the Great Depression of the 1930s