Emergency Banking Act
E133
The Emergency Banking Act was a 1933 U.S. law passed early in Franklin D. Roosevelt’s presidency to stabilize the collapsing banking system during the Great Depression by regulating bank operations and restoring public confidence.
Aliases (2)
Statements (49)
| Predicate | Object |
|---|---|
| instanceOf |
United States federal statute
→
banking law → |
| affected |
Federal Reserve System
→
member banks of the Federal Reserve System → national banks → |
| appliesTo |
commercial banks in the United States
→
|
| authorized |
inspection of banks by federal authorities
→
issuance of additional Federal Reserve Bank notes → reopening of solvent banks → reorganization or closure of insolvent banks → |
| chamberInvolved |
United States House of Representatives
→
United States Senate → |
| country |
United States
→
|
| dateOfEnactment |
1933-03-09
→
|
| enactedDuring |
First 100 days of Franklin D. Roosevelt
→
|
| enactedInResponseTo |
bank holiday of March 1933
→
nationwide bank runs → |
| fieldOfLaw |
economic law
→
financial law → |
| grantedPowerTo |
President of the United States
→
Secretary of the Treasury → |
| historicalPeriod |
New Deal era
→
|
| implementedBy |
Federal Reserve Board
→
United States Department of the Treasury → |
| jurisdiction |
United States federal government
→
|
| languageOfWork |
English
→
|
| legalStatus |
amended over time
→
|
| legislativeBody |
United States Congress
→
|
| motivatedBy |
banking crisis of 1933
→
collapse of U.S. banking system → |
| partOf |
New Deal legislation
→
|
| passedDuring |
Great Depression
→
|
| policyArea |
banking regulation
→
financial stabilization → monetary policy → |
| precededBy |
nationwide bank holiday proclaimed by Franklin D. Roosevelt
→
|
| presidentAtEnactment |
Franklin D. Roosevelt
→
|
| purpose |
regulate bank operations during financial emergency
→
restore public confidence in banks → stabilize the U.S. banking system → |
| relatedTo |
Federal Deposit Insurance Corporation
→
Glass–Steagall Act of 1933 → |
| resultedIn |
increased federal oversight of banks
→
reopening of many U.S. banks → restoration of depositor confidence → |
| shortDescription |
1933 U.S. emergency law to stabilize banks and restore confidence
→
|
| signedBy |
Franklin D. Roosevelt
→
|
| temporalContext |
early presidency of Franklin D. Roosevelt
→
|
| yearOfEnactment |
1933
→
|
Referenced by (9)
| Subject (surface form when different) | Predicate |
|---|---|
|
Emergency Relief Act of 1933
("Emergency Banking Act of 1933")
→
Home Owners' Loan Act of 1933 ("Emergency Banking Act of 1933") → |
relatedTo |
|
73rd United States Congress
→
|
enacted |
|
Fireside chats on banking crisis
("Emergency Banking Act of 1933")
→
|
explainsPolicy |
|
Fireside chats on banking crisis
("United States banking crisis of 1933")
→
|
hasContext |
|
Hundred Days (FDR)
→
|
hasKeyEvent |
|
Hundred Days (FDR)
("Emergency Banking Act of 1933")
→
|
hasKeyLegislation |
|
New Deal
→
|
hasPart |
|
Franklin D. Roosevelt
→
|
notablePolicy |