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. […]
federal reserve system
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.