Legal status of the U.S. central banks from 1791 to the establishment of the FED in 1913

Stepanenko V. V.

In this paper, the genesis of the US banking system and its legal status, which changed over the years before the Federal Reserve System was created in 1913, is analyzed using historical, formal legal, and system methods. A brief description is given to each period of the development of the banking system - the First Bank, the Second Bank, the "Era of free banks", and national banks.

Keywords:the USA, banking system, banks, the Era of free banks, legal status, central bank.