From Middle English wyld cat, wylde cat (in the plural as wild cattes, wylde catis, wyle cattes), equivalent to wild + cat.
Its adjectival senses were originally American and derived from the "wildcat banks" of Michigan, following its elevation to statehood in 1837. Two one easing the requirements for establishing a new bank and another occasioned by the Panic of 1837 that removed the need for payment in led to the creation and collapse of around 50 banks within two years. The term is apocryphally derived from a wildcat supposedly featured on the currency printed by one of these banks, but more probably derived from the remote locations "where the wildcats roamed" chosen by these banks to avoid oversight and minimize redemption of notes.
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