Free Banking (1837-1863) The intense political controversy over the charter renewal of the Second Bank of the United States and the wave of bank failures following the panic led many states to fundamentally reconsider their approach to banking regulation.
BIS central bankers’ speeches  5  an exclusive view to maintaining a stable price level, it is less important, at least within certain limits, whether the central bank lends against private or public collateral. Does this imply that the distribution of central bank liquidity does not matter?