Editing Federal Reserve Act (section)

=== Charter extension ===
The Federal Reserve Act originally granted a twenty-year charter to the Federal Reserve Banks: "To have succession for a period of twenty years from its organization unless it is sooner dissolved by an Act of Congress, or unless its franchise becomes forfeited by some violation of law.".<ref>{{cite web|url=https://fraser.stlouisfed.org/title/975 |title=Federal Reserve Act &#124; Title &#124; FRASER &#124; St. Louis Fed |publisher=Fraser.stlouisfed.org |date= |accessdate=2022-07-04}}</ref> This clause was amended on February 25, 1927: "To have succession after the approval of this Act until dissolved by Act of Congress or until forfeiture of franchise for violation of law."<ref>{{cite web|url=https://uscode.house.gov/statviewer.htm?volume=44&page=1234#|title=Sixty-Ninth Congress Sess. II|date=1927|page=1234|website=Uscode.house.gov|access-date=5 July 2022}}</ref> The success of this amendment is notable, as in 1933, the US was in the throes of the [[Great Depression]] and public sentiment with regards to the Federal Reserve System and the banking community in general had significantly deteriorated. Given the political climate, including of [[Franklin D. Roosevelt]]’s administration and [[New Deal]] legislation, it is uncertain whether the Federal Reserve System would have survived.