Final answer:
The Community Reinvestment Act (CRA) of 1977 is the federal act designed to encourage depository institutions to meet the credit needs of their communities. The Federal Reserve Act of 1913 and the Banking Act of 1935 also contributed to the regulation and stabilization of the national banking system.
Step-by-step explanation:
The federal act intended to encourage depository institutions to help meet the credit needs of the communities in which they operate is commonly known as the Community Reinvestment Act (CRA) of 1977. This act was designed to address the issue of 'redlining,' where banks would avoid making loans to individuals in certain neighborhoods, often based on racial or economic factors, regardless of the creditworthiness of the individual applicants.
The Federal Reserve's role in providing banking services to commercial banks and other depository institutions is crucial for the overall stability and functioning of the national banking system. The Federal Reserve Act of 1913, which created the Federal Reserve System, had a similar aim in terms of supporting the financial infrastructure by providing an elastic currency and supervising banking in the United States.