National Banking System
The National Banking System was established in the United States during the Civil War to create a uniform national currency and stabilize the banking industry. It allowed banks to issue notes backed by U.S. government bonds, which helped to reduce the number of state-chartered banks and create a more centralized banking system.
This system also led to the establishment of the Office of the Comptroller of the Currency (OCC) in 1863, which regulates and supervises national banks. The National Banking System aimed to promote financial stability and public confidence in the banking sector, ultimately contributing to the development of the modern banking system in the U.S.