Monday: no school
Tuesday: emergency banking relief act EBRA
- passed five days after taking office-march, 1993
- passed in response to the thousands of banks that closed down
- passed four days after FDR announced the bank holiday, which closed banks down temporarily
- the EBRA would close the banks down, reorganize it and then reopen the bank when its stable.
- provided insurance to people's money in the banks
- when banks reopened on march 13, 1933, many people put their money back into banks
FDIC
- created by the glass-Steagall act in 1933
passed in response to the bank failures after the stock market crash
Banking act of 1935
- made the FDIC a permanent agency within the u.s. government
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