How many regional Federal Reserve Banks were established under the Act?
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Correct answer: 12
The Federal Reserve System was divided into 12 regional banks. This structure ensured both centralized oversight and regional representation.
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More Federal Reserve Act of 1913 questions
- What is the main governing body of the Federal Reserve System?
- Which function did the Federal Reserve gain through the Act?
- What type of institution is the Federal Reserve System considered?
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