The amount of high-powered money issued by a central bank in excess of its holdings of gold reserves. In the UK in the 19th century the fiduciary issue was restricted to control the power of the Bank of England to issue money; during banking crises the Bank of England had to be specially authorized, by suspension of the Bank Act, to exceed this limit. In the 20th century nearly all high-powered money has come to consist of a fiduciary issue.