ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -The Bank of the United States, now commonly referred to as the first Bank of the United States, opened for business in Philadelphia on December 12, 1791, with a twenty-year charter.

Detailed explanation-2: -Congress gave the Bank of the United States, now commonly known as the First Bank, a 20-year charter that started in December 1791. The bank did not dictate fiscal policy, but it still wielded great influence over the country’s finances due to its size.

Detailed explanation-3: -Congress established the First Bank of the United States in 1791 to serve as a repository for Federal funds. Its charter expired in 1811, but in 1816 Congress created a Second Bank of the United States with a charter set to expire in 1836.

Detailed explanation-4: -Town by town, he built the first statewide branching system in the nation. On November 1, 1930, the Bank of Italy in San Francisco changed its name to Bank of America. The bank today has the same national bank charter number as Giannini’s old bank-#13044. When A.P.