The Federal Reserve Act is a 1913 act of Congress that created the Federal Reserve System, the central bank of the United States of America. 1913 (MCMXIII) is a common year starting on Wednesday. ... An Act of Congress is a bill or resolution adopted by both houses of the United States Congress to which one of the following events has happened: Acceptance by the President of the United States, Inaction by the President after ten days from reception (excluding Sundays) while the Congress is... The Federal Reserve System is headquartered in the Eccles Building on Constitution Avenue in Washington, DC. The Federal Reserve System (also the Federal Reserve; informally The Fed) is the central bank of the United States. ...

According to the United States Constitution, only the U.S. Congress has the power and responsibility to coin money and set its value. In the 1913 Federal Reserve Act however, Congress delegated this power to the Federal Reserve. The constitutionality of this type of action has been controversial. The Constitution of the United States is the supreme law of the United States of America. ... The Congress of the United States is the legislative branch of the federal government of the United States of America. ... Money Money is any marketable good or token used by a society as a store of value, a medium of exchange, and a unit of account. ...

The Federal Reserve System consists of twelve Federal Reserve Banks: Federal Reserve Districts The United States Federal Reserve System consists of twelve Federal Reserve Banks, each responsible for a particular district, and some with branches. ...

• Boston, Massachusetts
• New York, New York
• Philadelphia, Pennsylvania
• Cleveland, Ohio
• Richmond, Virginia
• Atlanta, Georgia
• Chicago, Illinois
• Saint Louis, Missouri
• Minneapolis, Minnesota
• Kansas City, Missouri
• Dallas, Texas
• San Francisco, California

All banks chartered under the National Banking Act of 1863 were made members of the Federal Reserve System, while others could join. A Board of Governors appointed by the President of the United States supervised the system. Nickname: City on a Hill, Beantown, The Hub (of the Solar System), Athens of America Motto: {{{motto}}} Official website: www. ... Midtown Manhattan, looking north from the Empire State Building, 2005 New York City (officially named the City of New York) is the most populous city in the state of New York and the entire United States. ... Independence Hall, as it appears today. ... ... Richmond is the capital of the Commonwealth of Virginia, in the United States of America. ... Atlanta is the capital of and largest city in the U.S. state of Georgia. ... ... Saint Louis (pronounced in English, in French), frequently spelled St. ... Downtown Minneapolis as viewed from the Stone Arch Bridge Motto: En Avant (French: forward) Nickname: City of Lakes location in Hennepin County, Minnesota Founded Incorporated 1850s 1867  County Hennepin County Borough Parrish Mayor R.T. Rybak (DFL) Area  - Total  - Water 142. ... Kansas City is a city covering parts of Jackson, Clay, Cass, and Platte counties in Missouri, USA. Although it is the largest city in Jackson County, the suburb of Independence is the county seat. ... Aerial view of Dallas Nickname: Big D Motto: {{{motto}}} Official website: www. ... Nickname: The City by the Bay Motto: {{{motto}}} Official website: http://www. ... The National Banking Act of 1863 raised money for the Union in the United States Civil War by enticing banks to buy federal bonds, and taxed state bonds out of existence. ... 1863 is a common year starting on Thursday. ...

External links

• Text of the Act, at federalreserve.gov
• Modern Money Mechanics - Booklet printed by the Federal Reserve, now out of print
• Paul Warburg's Crusade to Establish a Central Bank in the United States