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- W2566026568 abstract "Before the founding of the Federal Reserve, bank clearinghouse associations served as an emergency lending facility during the National Bank Era (1863–1913). This article clarifies the operation of clearinghouse loan certificates during panic periods. If clearinghouse loan certificates do not circulate among the general public, then they bear similarities to interbank loans among clearinghouse member banks. In general, the central clearinghouse organization does not act alone as a lender of last resort to make loans from the central clearinghouse to individual member banks." @default.
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- W2566026568 date "2016-12-01" @default.
- W2566026568 modified "2023-09-25" @default.
- W2566026568 title "Clearinghouse loan certificates as interbank loans in the United States, 1860–1913" @default.
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- W2566026568 doi "https://doi.org/10.1017/s0968565016000196" @default.
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