Vi4kaylsumegh0anavy Vi4kaylsumegh0anavy

27-01-2016
Social Studies

Answered

What was established in 1913 as the central bank of the United States?

Athe Democratic Bank of the United States
Bthe Federal Reserve System
Cthe Second National Bank of the United States
Dthe Federal Deposit Insurance Corporation

Verified Answer :

WorldCitizen WorldCitizen

28-01-2016

The correct answer is the Federal Reserve system: answer B.

It was established with an act of 1913 and it replaced a previous system of national banks which were the banking institutions of the US from 1863.
The reason for a change was a financial panic of 1907

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