3 The National Banking Act made it possible for banks to draw on their reserves overnight. True False 2/10 complete

## Step 1<br />The National Banking Act was a significant piece of legislation in the United States, passed in 1863 and 1864. This act was designed to create a system of national banks and to establish a uniform national currency.<br />## Step 2<br />The act also allowed banks to draw on their reserves overnight. This was a crucial provision as it allowed banks to meet their obligations and maintain liquidity.<br />## Step 3<br />Given this information, the statement that the National Banking Act made it possible for banks to draw on their reserves overnight is indeed true.