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instanceOf
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United States federal law
→
banking law
→
monetary law
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aimedToImprove
|
banking system resilience
→
financial stability
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appliesToJurisdiction
|
United States
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authorized
|
Federal Reserve Notes as national currency
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classification
|
landmark U.S. financial legislation
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codifiedIn
|
Title 12 of the United States Code
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country
|
United States
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created
|
Federal Reserve System
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createdNumberOfRegionalBanks
|
12
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dateEnacted
|
1913-12-23
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definesRoleOf
|
Federal Reserve System
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empowered
|
Federal Reserve System to issue Federal Reserve Notes
→
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established
|
Federal Reserve System
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grantedPowerTo
|
Federal Reserve Banks
→
Federal Reserve Board of Governors
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|
hasLanguage
|
English
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hasOfficialName
|
Federal Reserve Act of 1913
→
|
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historicalContext
|
Progressive Era reforms
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introducedInChamber
|
United States House of Representatives
→
United States Senate
→
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legislativeBody
|
United States Congress
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|
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motivatedBy
|
Panic of 1907
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namedAfter
|
Carter Glass
→
Robert Latham Owen
→
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presidentDuringEnactment
|
Woodrow Wilson
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|
purpose
|
to afford means of rediscounting commercial paper
→
to create a central banking system for the United States
→
to establish more effective supervision of banking in the United States
→
to provide an elastic currency
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|
|
region
|
North America
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|
|
regulates
|
member banks of the Federal Reserve System
→
|
|
relatedTo
|
United States monetary policy
→
lender of last resort function
→
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|
replacedSystem
|
National Banking System
→
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|
resultedInCreationOf
|
Federal Reserve Banks
→
Federal Reserve Board
→
|
|
shortTitle
|
Federal Reserve Act
→
|
|
signedBy
|
Woodrow Wilson
→
|
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sponsor
|
Carter Glass
→
Robert Latham Owen
→
|
|
subjectMatter
|
bank regulation
→
central banking
→
monetary policy
→
|
|
typeOfStatute
|
public law
→
|
|
yearEnacted
|
1913
→
|