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Money - Wikipedia, the free encyclopedia (2793 words) |
 | Such organizations earned the nickname of "wildcat banks" for a reputation of unreliability and that they were often situated in far-off, unpopulated locales that were said to be more apt to wildcats than people. |
| Although stories about crooked banking practices are entertaining—and for that reason have been repeated endlessly by textbooks—modern economic historians have found that there were in fact very few banks that fit any reasonable definition of wildcat bank." The National Bank Act of 1863 ended the "wildcat bank" period. |
| Banks are limited in the amount of loans they can grant and thus in the amount of bank money (credit) they can create by both the net assets of the bank and by reserve requirements (M0). |
| Wildcat banking - Wikipedia, the free encyclopedia (274 words) |
| Wildcat banking refers to the practices of any unsound bank chartered under state law during the period of uncontrolled state banking (1816–63) in the United States. |
| The Wildcat banks distributed nearly worthless currency backed by questionable security (such as mortgages and bonds) and were located in inaccessible areas to discourage note redemption. |
| Wildcat banking was an important part of history. |
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