The Mansion House Fund

The Mansion House Fund was established in 1824 by the Bank of England to support distressed financial institutions, particularly during times of economic crisis. It acted as a form of mutual aid, where member banks contributed to a communal fund, which could be used to stabilize the banking sector if a bank faced failure or liquidity problems. Essentially, it was a safety net designed to maintain confidence and stability in the banking system by pooling resources to help troubled banks recover or prevent collapse.