The US Federal Reserve System was created at the beginning of the 20th century. IN 1913 G. the United States passed the Federal Reserve Act. The purpose of the law was defined as follows: "Creation of banks of the Federal Reserve, ensuring a stable monetary system, receipt of rediscount funds, Building Better Supervision of Banking in the United States ". For this purpose, the Federal Reserve System was created. […]
U.S. Federal Reserve (also known as the Fed ) is the central banking system of the United States. It was created in 1913 year as a result of the adoption of the Federal Reserve Act, largely as a response to a series of financial panics or massive bank flaws, especially severe panic in 1907 year. Over time, the roles and responsibilities of the Federal Reserve System have expanded and its structure has undergone changes.. Such events, like the great depression, were among the main factors, leading to changes in the system. His duties today, according to official documents of the Federal Reserve System, are divided into four main areas:
Federal Reserve System (FED, The federal reserve) (English. Federal Reserve System) - Specially created in 1913 year by the Federal Reserve Act (English. Federal Reserve Act) system, which collectively serves as the central bank of the United States of America. The state plays a significant role in the management of the FRS, although the form of ownership of capital is private - joint-stock with a special status of shares.