25 févr. 1863 - National Bank Act of 1863

Description:

The National Bank Act of 1863 was the first attempt to establish a central bank after the failures of the First and Second Banks of the United States and served as the predecessor to the Federal Reserve Act of 1913. The act allowed the creation of national banks, set out a plan for establishing a national currency backed by government securities held by other banks, and gave the federal government the ability to sell war bonds and securities (in order to help the war effort). National banks were chartered by the federal government, and were subject to stricter regulation; they had higher capital requirements and were not allowed to loan more than 10% of their holdings. A high tax on state banks was levied to discourage competition, and by 1865 most state banks had either received national charters or collapsed.

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