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The Federal Reserve System (often shortened to the Federal Reserve, or simply the Fed) is the central banking system of the United States.It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of financial panics (particularly the panic of 1907) led to the desire for central control of the monetary system in order to alleviate financial crises.
A central bank, reserve bank, national bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union. [1] In contrast to a commercial bank, a central bank possesses a monopoly on increasing the monetary base.
By 1865, there were already 1,500 national banks. In 1870, 1,638 national banks stood against only 325 state banks. The tax led in the 1880s and 1890s to the creation and adoption of checking accounts. By the 1890s, 90% of the money supply was in checking accounts. State banking had made a comeback.
European Central Bank (Central Bank of Luxembourg) Banque centrale du Luxembourg / Luxemburger Zentralbank / Zentralbank vu Lëtzebuerg: 1998 Macau: Macanese pataca: Monetary Authority of Macao: 澳門金融管理局 Autoridade Monetária de Macau: 1999 Madagascar: Malagasy ariary: Central Bank of Madagascar
The Bangko Sentral ng Pilipinas ( lit. 'Central Bank of the Philippines'; commonly abbreviated as BSP in both Filipino and English) is the central bank of the Philippines. It was established on July 3, 1993, pursuant to the provision of Republic Act 7653 or the New Central Bank Act of 1993 as amended by Republic Act 11211 or the New Central ...
The Central Bank of Iran (CBI), also known as Bank Markazi, officially the Central Bank of the Islamic Republic of Iran ( Persian: بانک مرکزی جمهوری اسلامی ايران, romanized : Bank Markazi-ye Jomhuri-ye Eslāmi-ye Irān; SWIFT Code: BMJIIRTH) is the central bank of Iran . Established under the Iranian Banking and ...
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