Question

All federally chartered banks are required to join the federal reserve system, as mandated by the ________. federal reserve act of 1913 federal monetary act federal policy act federal bank adjustment act of 1927

Answer 1

All federally chartered banks are required to join the federal reserve system, as mandated by the _FEDERAL RESERVE ACT OF 1913_.

This Act was signed into law by United States President Woodrow Wilson.

Answer 2

Federal Reserve Act of 1913

Step-by-step explanation:

The Federal Reserve Act of 1913 was an act of Congress that was signed into law by President Woodrow Wilson. This move was partly motivated by the Panic of 1907. The law created the Federal Reserve System which is the central banking system of the United States. It also required all federally chartered banks to join the federal reserve system.