History of the Federal Reserve By LiquidMuffin May 5, 1775 Nation's First Paper Money Printed May 5, 1791 First Attempt at a Central Bank May 5, 1863 National Banking Act passed Dec 23, 1913 Creation of the Federal Reserve System May 5, 1920 Open Market Operations Begin Oct 1, 1929 Stock Market Crash Begins Great Depression May 5, 1990 Longest Stage of Economic Expansion Sep 11, 2001 911