IDNLearn.com is designed to help you find accurate answers with ease. Receive prompt and accurate responses to your questions from our community of knowledgeable professionals ready to assist you at any time.
Sagot :
Answer:
performs banking services for commercial banks in districts where it operates.
Explanation:
The Federal Reserve System ( popularly referred to as the 'Fed') was created by the Federal Reserve Act, passed by the U.S Congress on the 23rd of December, 1913. The Fed began operations in 1914 and just like all central banks, the Federal Reserve is a United States government agency.
Generally, it comprises of twelve (12) Federal Reserve Bank regionally across the United States of America.
Hence, the Fed performs banking services for commercial banks in districts where it operates, as well as providing services to the general public.
Your participation is crucial to us. Keep sharing your knowledge and experiences. Let's create a learning environment that is both enjoyable and beneficial. Your questions deserve reliable answers. Thanks for visiting IDNLearn.com, and see you again soon for more helpful information.