The national banking era was the period:
A)between when the Federal Reserve was formed in 1913 and the Great Depression in 1929.
B)in which the fewest banking crises occurred in the United States.
C)when shadow banking became an important part of the financial sector of the economy.
D)after the Civil War and before the Federal Reserve was established in 1913.

Question

Quizplus · Accepted Answer

The national banking era refers to the period from the end of the Civil War in 1865 until the establishment of the Federal Reserve in 1913. During this time, the National Banking Act of 1863 was passed, which created a national banking system and provided stability to the banking system. However, banking crises still occurred during this period, including the Panic of 1873 and the Panic of 1893. Shadow banking did not become an important part of the financial sector until much later, in the late 20th and early 21st centuries.

The National Banking Era Was the Period