Hamilton responded by arguing that the bank was legal under the congressional power to tax and regulate trade.

Stop protecting the banks and the City start regulating them they are the leeches on the face of humanity.

Sometimes more than one institution regulates and supervises the banking market, normally because, apart from regulatory authorities, central banks also regulate the banking industry.

For example, a central bank may regulate margin lending, whereby individuals or companies may borrow against pledged securities.

The central bank will direct monetary and exchange-rate policies and regulate the financial system.

As banks are made to settle all inter-bank transfers overnight, the central bank can regulate the rate paid for cash by the sale or buy back of bonds and other government issued securities (these are known as domestic market operations).

In most countries, the central bank (or other monetary authority) regulates bank credit creation, imposing reserve requirements and other capital adequacy ratios.

A central European bank could regulate the money supply of all EC countries, but that would be unacceptable to many members.

Central banks will no longer regulate the money supply.

In future, there would have to be a eurozone chancellor of the exchequer, who would take all the important decisions on taxation, borrowing and public spending, while the European central bank controlled interest rates and regulated the banks.