The Finance Act of 1914 required that ________.
A) local banks be subject to the same regulations as national banks
B) national banks establish branches in large cities
C) the Department of Finance to act as a lender of last resort
D) the Bank of Canada to act as a lender of last resort

Question

Quizplus · Accepted Answer

The Finance Act of 1914 established the Department of Finance as a lender of last resort to provide liquidity to banks during financial crises.

The Finance Act of 1914 Required That ________