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Milestones in Banking History

Banking History

A collection of factual questions regarding the origins and development of global banking systems and institutions.

history finance banking

10 Questions Easy Ages 12+ Jul 15, 2026

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About this Study Set

This study set covers Banking History through 10 practice questions. A collection of factual questions regarding the origins and development of global banking systems and institutions. Every question includes the correct answer so you can learn as you go — pick any format above to get started.

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1 In what year was the Bank of England founded as a private institution to act as the government's banker?

A 1694
B 1750
C 1812
D 1901

2 The Medici Bank, one of the most famous banks in European history, was established in which city during the 15th century?

A London
B Florence
C Paris
D Madrid

3 Which U.S. law, passed in 1913, created the modern Federal Reserve System?

A The Glass-Steagall Act
B The Bank Charter Act
C The Federal Reserve Act
D The Gold Standard Act

4 How many regional Federal Reserve Banks were established across the United States under the Federal Reserve Act?

A 5
B 8
C 12
D 20

5 The first central bank in the world, the Sveriges Riksbank, was established in which country in 1668?

A Sweden
B Netherlands
C Germany
D Norway

6 In 1863, which U.S. legislative act established a national currency and a system of national banks?

A The National Banking Act
B The Coinage Act
C The Sherman Antitrust Act
D The Federal Deposit Insurance Act

7 The Bank of Japan, the country's central bank, was founded in which year?

A 1868
B 1882
C 1905
D 1920

8 Which famous banking dynasty was founded by Mayer Amschel Rothschild in the late 18th century?

A Rockefeller
B Morgan
C Rothschild
D Vanderbilt

9 The Bank of France was established by Napoleon Bonaparte in which year?

A 1799
B 1800
C 1815
D 1822

10 How many original members were there in the Basel Committee on Banking Supervision when it was formed in 1974?

A 5
B 10
C 12
D 25

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