of the principle reasons for regulating banks, what was the primary purpose of the national banking act (1863) of the principle reasons for regulating banks, what was the primary purpose of the national banking act (1863) of the principle reasons for regulating banks, what was the primary purpose of the national banking act (1863) Solution Other than the principle reasons for regulating banks, the National Banking Act (1863) was established to provide federal war loans, and establish a national currency. The Government at that time passed this act to overcome the financial crisis due to the war at that time. .