This period, the mid to late 1970s saw an explosion of financial markets innovation with money market mutual fund accounts, call and put options traded first over the counter then on listed exchanges and finally bank deregulation as failed banks were taken over by out of state banks.
The 1970s, a period of significant financial market development, witnessed the emergence of money market mutual funds, the trading of call and put options over-the-counter (OTC) and later on listed exchanges, and the deregulation of banks, with failed banks being taken over by out-of-state institutions.