Question

The First Bank of the United States had characteristics that differ from those of the modern central bank of the United States. Which of the following is one such characteristic of the First Bank of the United States?

Answer 1

One characteristic of the First Bank of the United States that differs from the modern central bank is that it had a limited duration and was granted a 20-year charter by the federal government. Modern central banks like the Federal Reserve do not have a fixed expiration date and are considered permanent institutions.