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Board of Governors of the Federal Reserve System
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Current FAQs
Informing the public about the Federal Reserve

Is the Federal Reserve Act going to expire?

No. The Federal Reserve Act of 1913--which established the Federal Reserve as the central bank of the United States--originally chartered the Federal Reserve Banks for 20 years. But in the McFadden Act of 1927, the Congress rechartered the Federal Reserve Banks into perpetuity, and so there is currently no "expiration date" or repeal date for the Federal Reserve.

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Last update: June 25, 2014