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The Federal Reserve, the central banking system of the United States, was created on December 23, 1913, with the enactment of the Federal Reserve Act, primarily in response to a series of financial panics in 1907. The Fed had being in existence for 15 years before the stock market crush in 1929. It was the most devastating market crush in the history of the United States and signaled the beginning of a decade long Great Depression that affected all Western industrialized countries . The primary responsibility of the Federal Reserve was to act as a “lender of last resort”. Essentially, the Federal Reserve was to lend money to private banks in times of crisis.
The assessment will further address how companies can use provisions of this Act to assist with optimizing a securities risk a... ... middle of paper ... ...ate common risk shared by all securities in the market. The 2008 global financial crisis illustrates the power of market risk. References A giant falls. (2009, June 4). The Economist, Retrieved from http://www.economist.com/node/13782942 Berk, J., & DeMarzo, P. (2011).
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