On This Day
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Federal Reserve System formally opens

A Federal Reserve Bank is a regional bank of the Federal Reserve System, the central banking system of the United States.

A Federal Reserve Bank is a regional bank of the Federal Reserve System, the central banking system of the United States. There are twelve in total, one for each of the twelve Federal Reserve Districts that were created by the Federal Reserve Act of 1913. The banks are jointly responsible for implementing the monetary policy set forth by the Federal Open Market Committee, and are divided as follows: Some banks also possess branches, with the whole system being headquartered at the Eccles Building in Washington, D.C.

Each regional bank's board has nine members. Members are of three classes: A, B, and C. There are three board members in each class. Class A members are chosen by the regional Bank's shareholders, and are intended to represent member banks' interests.

Historical Significance

A Federal Reserve Bank is a regional bank of the Federal Reserve System, the central banking system of the United States.

Events Before

  1. The US Post Office begins parcel post delivery

    The Bronx General Post Office (also known as the Bronx Central Post Office or Bronx Central Annex) is a historic post office building at 558 Grand Concourse in the South Bronx in New York City, New…

  2. British House of Commons accepts Home Rule for Ireland (but the Great War gets in the way of it happening)

    British House of Commons accepts Home Rule for Ireland (but the Great War gets in the way of it happening)

  3. China's National Assembly opens in Peking, the first free democratic parliament in Chinese history

    The National Assembly was the legislative branch of the Beiyang government during the Republican era of Chinese history.

  4. US Admiral Chester Nimitz (28) weds Catherine Freeman (21) in Wollaston, Massachusetts

    US Admiral Chester Nimitz (28) weds Catherine Freeman (21) in Wollaston, Massachusetts

  5. US Actors' Equity Association forms (NYC)

    The 1919 Actors' Equity Association strike officially spanned from August 7, 1919, to September 6, 1919.

Events After

  1. "The Birth of a Nation" the first 12-reel film in America, directed by D. W. Griffith, starring Lillian Gish and Mae Mar

    "The Birth of a Nation" the first 12-reel film in America, directed by D. W. Griffith, starring Lillian Gish and Mae Marsh, premieres at Clune's Auditorium in Los Angeles

  2. French forces attempt to drive the Germans back into the Champagne region during World War I, gaining a few hundred yard

    French forces attempt to drive the Germans back into the Champagne region during World War I, gaining a few hundred yards at the cost of 50,000 casualties

  3. First military use of poison gas occurs when Germany uses chlorine gas against the Allies along the Western Front at Ypr

    First military use of poison gas occurs when Germany uses chlorine gas against the Allies along the Western Front at Ypres, France in World War I [1]

  4. First landings at Gaba Tepe and Cape Helles on the Gallipoli Peninsula by ANZAC forces during World War I

    The landing at Anzac Cove on Sunday, 25 April 1915, also known as the landing at Gaba Tepe and, to the Turks, as the Arıburnu Battle, was part of the amphibious invasion of the Gallipoli Peninsula by...

  5. RMS Lusitania is sunk by a German submarine off the southern coast of Ireland, with 1,198 lives lost

    RMS Lusitania is sunk by a German submarine off the southern coast of Ireland, with 1,198 lives lost

More from the 1910s

birth

Hank Greenberg is born

Hank Greenberg, American athlete, known for american baseball player, was born on 1911-01-01.

Belgian mining law introduces a 9.5-hour workday

Belgian mining law introduces a 9.5-hour workday

First running of San Francisco's famed "Bay to Breakers" footrace (7.63 miles/12.3 km); Robert Vlught wins in 44:10

First running of San Francisco's famed "Bay to Breakers" footrace (7.63 miles/12.3 km); Robert Vlught wins in 44:10

The US Post Office begins parcel post delivery

The Bronx General Post Office (also known as the Bronx Central Post Office or Bronx Central Annex) is a historic post office building at 558 Grand Concourse in the South Bronx in New York City, New…

Frequently Asked Questions

What happened on November 16, 1914?
A Federal Reserve Bank is a regional bank of the Federal Reserve System, the central banking system of the United States. There are twelve in total, one for each of the twelve Federal Reserve Districts that were created by the Federal Reserve Act of 1913. The banks are jointly responsible for implementing the monetary policy set forth by the Federal Open Market Committee, and are divided as follows: Some banks also possess branches, with the whole system being headquartered at the Eccles Building in Washington, D.C.
Why is Federal Reserve System formally opens significant?
A Federal Reserve Bank is a regional bank of the Federal Reserve System, the central banking system of the United States.

Explore More

November 16 in HistoryYear 1914