?Read the text below about federal reserve system. ?In most of the lines 34--45 there is one extra word. It is either grammatically incorrect or does not fit in with the meaning of the text. Some lines, however, are correct. ?If a line is correct, write CORRECT on your Answer Sheet. ?If there is an extra word in the line, write the extra word in CAPITAL LETTERS on your Answer Sheet. The Federal Reserve System Correct Commonly known as the Federal Reserve Bank or the 'Fed', this is the central Which bank of the United States which founded in 1913, it determines the Reserve 34 Requirement within limits set out by the US Congress. The function of the Fed is 35 economic stabilization operate through the management of the national money 36 supply. The Federal Reserve System comprises with a board of governors with 37 seven members both stationed in Washington D. C. The responsibilities of the 38 Fed system are carried out through 12 Regional Federal Reserve Banks 39 controlling. The members of the Fed include the commercial banks, i.e. those 40 with the national chartered commercial banks and approximately to 10% of the 41 State-chartered commercial banks. These member banks buy stock from their 42 Regional Federal Reserve Banks is the larger body of the Fed system which 43 determines what the interest rates of the USA. Through the purchasing and 44 selling of securities, the Fed is able to control the money supply. Its open-market 45 operations may well effect the reserve base, thus restricting the credit and loan market in the USA. (34)