united-states banking
Federal Reserve - can its charter expire? If so, when?
<p>Reading through <a href="https://en.wikipedia.org/wiki/Federal_Reserve_Act" rel="nofollow noreferrer">the history of US central banks</a>, the First Bank of America's charter expired after 20 years, then the Second Bank of America's charter also expired in 1836. The Federal Reserve Act then set up the system of central bank branches we have today after roughly 70 years without a central bank.</p>
<p>However, what I was unable to find is if there was any clause in the official regulations that stipulate if the Fed's charter can also expire. I'd be keen to know if that's even possible and when that would be possible, legally speaking.</p>

<p>I skimmed <a href="https://www.federalreserve.gov/aboutthefed/section2b.htm" rel="noreferrer">the text of the act</a> and didn't see anything about expiration, so that suggests that it doesn't expire.  Normally such a provision would be prominent near the beginning or end.</p>

<p>I would expect any such expiration date to be in <a href="https://www.federalreserve.gov/aboutthefed/section4.htm" rel="nofollow noreferrer">section 4</a> of the act, and particularly in section 4.4 &quot;Corporate Powers&quot;. I do not find any such expiration provision there, nor anywhere welse in the Act.</p>
<p>Several provisions seem to contemplate the Federal Resere system existing indefinably.</p>
<p>Of course, Congress could always amend the act to add an expiration date, or even abolish the system forthwith. But absent any such action by Congress, no expiration seems to be provided for in the Act.</p>
