Liquidity and solvency are conditional for banks' existence. They are endangered during banking crises. Since the banking crises of the National Banking Era in the USA are no exceptions, the question remains whether the foundation of the Federal Reserve System offered an adequate solution to the...

Liquidity and solvency are conditional for banks' existence, They are endangered during banking crises. Since the banking crises of the National Banking Era in the USA are no exceptions, the question remains whether the fondation of the Federal Reserve System offered an adequate solution to the...