The National Bank Act (1863-64)created the Federal Reserve which acts as the lender of last resort.

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The National Bank Act of 1863-64 created a system of national banks and a single national currency, but it did not create the Federal Reserve. The Federal Reserve was created in 1913 with the Federal Reserve Act. However, one of the roles of the Federal Reserve is to act as the lender of last resort.

The National Bank Act (1863-64)created the Federal Reserve Which Acts