The Federal Reserve Act established all of the following except
A)a national bank.
B)12 regional banks.
C)the ability to make loans to member banks.
D)the ability to issue paper currency.
E)responsibility to the public rather than to private bankers.

Question

Quizplus · Accepted Answer

The Federal Reserve Act did not establish a national bank, rather it established a decentralized system of 12 regional reserve banks.

The Federal Reserve Act Established All of the Following Except