The US bank panic in 1907 that helped inspire creation of the Federal Reserve System was the Panic of 1907.
The panic began after a failed attempt to corner the stock of United Copper Company and spread through trust companies and banks. The Knickerbocker Trust Company collapsed in October, causing depositors to withdraw funds from other institutions.
J. Pierpont Morgan organized private support to stabilize the banking system, illustrating how dependent the United States was on one powerful financier during a crisis. The episode prompted investigations and reforms, including the Aldrich–Vreeland Act of 1908.
The Federal Reserve Act followed in 1913, creating the Federal Reserve System. The 1907 panic therefore did not directly create the central bank overnight, but it was a major catalyst. It was a banking and financial panic rather than a single-day stock-market crash.