Realizing the Need for Banks to Obtain Liquidity During Periods

Multiple Choice

Realizing the need for banks to obtain liquidity during periods of economic stress, the federal government wanted to establish a banking system that would have an entity that banks could borrow from. The U.S. Congress accomplished this with the passage of the ________.

A) National Bank Act in 1863
B) Office of the Comptroller of the Currency Act
C) Federal Reserve Act of 1913
D) Financial Institutions Reform, Recovery, and Enforcement Act of 1989