What is the name of the U.S. law that authorized the creation of national banks?

The U.S. law that authorized the creation of national banks was the National Bank Act.

The National Bank Act of 1863—originally called the National Currency Act—was passed during the American Civil War. It authorized federally chartered banks, established a national banking system and created a framework for a uniform currency backed by U.S. government securities. The law was designed partly to strengthen federal finances and help fund the Union war effort.

A second measure, the National Banking Act of 1864, expanded and refined the system. Together, the 1863 and 1864 acts established federal bank charters and placed national banks under federal oversight. They also led to the creation of the Office of the Comptroller of the Currency, which continues to supervise national banks.

The National Bank Act is often confused with the Federal Reserve Act of 1913. The earlier law created the national-bank system and its note-issuing framework; the later act created the Federal Reserve System and the modern central-bank structure. “National Bank Act” is the standard quiz answer, even though the broader system involved related legislation in several years.