Name:______________________________ Date: ________

Economics

Unit #7 Federal Reserve & Money Policy

The Federal Reserve System

The Federal Reserve System is the central bank of the United States. The Federal Reserve is also known as "The Fed." The Federal Reserve System was created by Congress on December 23, 1913, with the signing of the Federal Reserve Act by President Woodrow Wilson. The Federal Reserve System includes the Board of Governors and the twelve regional Reserve Banks. Under the Federal Reserve System, the United States is divided into twelve regions, or Districts. Each District has a Reserve Bank serving it. The twelve Reserve Banks are named after the city in which they are located.

1) Money delivered to banks here in the Rio Grande Valley would come from what

Bank? Please identify both the district and the city.

2) District L12 would be named after what city?

3) The Federal Reserve System was created in __________.

.

4) The Federal Reserve System was created in when Pres. Woodrow Wilson signed the _____________________________ Act.

5) The Federal Reserve System is the ______________________ of the United States.

6) Under the Federal Reserve System, the United States is divided into how many Districts?

7) How can you tell where a bill comes from?

8) Examine any bills you may have in your possession, where do they come from?

9) The Federal Reserve is also known as "_________________."

10) Federal Reserve Banks are named after the ____________in which they are located.

11) Identify the district number in which each Federal Reserve Bank is Located:

______ Chicago

______ Dallas

______ Kansas City

______ St. Louis

______ San Francisco

______ Cleveland

______ Boston

______ New York

______ Atlanta

______ Minneapolis

______ Richmond

______ Philadelphia