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The National Bank Act encouraged development of a national currency backed by bank holdings of U.S. Treasury securities. It established the Office of the Comptroller of the Currency as part of the United States Department of the Treasury, authorizing it to examine and regulate nationally chartered banks.
The ADI’s authority is granted by the Australian Prudential Regulation Authority (APRA) under the Banking Act 1959 (Cth). [1] The term was adopted to formalise the right of non-bank financial institutions — such as building societies, credit unions and friendly societies — to accept such deposits.
In Australia, Part IV of the Banking Act 1959 allows the Commonwealth government to seize private citizens' gold in return for paper money where the Governor-General is satisfied that it is expedient so to do, for the protection of the currency or of the public credit of the Commonwealth. [37]
The Reserve Bank is currently governed by the Reserve Bank Act 1959. [4] Section 10(2), commonly referred to as the Bank's charter, states that Bank's duty is "to ensure that the monetary and banking policy of the Bank is directed to the greatest advantage of the people of Australia" to be achieved by exercising its powers "to contribute to:
The National Bank Act (ch. 58, 12 Stat. 665; February 25, 1863), originally known as the National Currency Act, was passed in the Senate by a 23–21 vote, and was supplemented a year later by the National Banking Act of 1864. The goals of these acts was to create a single national currency, a nationalized bank chartering system, and to raise ...
Money is a funny societal construct in that people believe it has value therefore it does. Banking systems and stock markets can seem complex, but at the core of the commercial banking industry, it...
The Banking Act of 1933 (Pub. L. 73–66, 48 Stat. 162, enacted June 16, 1933) was a statute enacted by the United States Congress that established the Federal Deposit Insurance Corporation (FDIC) and imposed various other banking reforms. [1]
Fair Credit Billing Act; Fair Credit Reporting Act; Fair Debt Collection Practices Act; Farm Credit Act of 1971; Federal Farm Loan Act; Federal Deposit Insurance Corporation Improvement Act of 1991; Federal Home Loan Bank Act; Federal Reserve Act; Financial Institutions Reform, Recovery, and Enforcement Act of 1989; Frazier–Lemke Farm ...