History Of Central Banking in the United States of America

History of Central Banking

This paper discusses the history of central banking system in the United States of America. It analyses the establishment, operations and functions of the central banks that existed in the history of the United States of America. The closing of these historic central banks is also being discussed in the preceding paper. It also puts light on the main functions of the central banks.

History of Central Banking in the United States of America

A central bank can be defined as an authority that is responsible for formulating strategies that directly affect the supply of money and credit in a country. In specific terms a central bank uses its monetary policy tools, including open market operations, discount window lending and changes in reserve requirements, in order to adjust the rates of interest and the monetary base...
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