Banking Act of 1935
E9482
The Banking Act of 1935 was a landmark U.S. law that restructured the Federal Reserve System and strengthened federal control over monetary policy and bank regulation during the New Deal era.
Statements (46)
| Predicate | Object |
|---|---|
| instanceOf |
New Deal legislation
→
United States federal statute → banking law → |
| abbreviation |
FOMC-related provisions
→
|
| affected |
Federal Deposit Insurance Corporation
→
|
| aimedTo |
prevent future banking crises
→
stabilize the U.S. banking system → |
| amends |
Federal Reserve Act
→
|
| assignedRoleTo |
Federal Open Market Committee in open market operations
→
|
| centralized |
monetary policy authority in the Board of Governors
→
|
| changedTermLengthOf |
members of the Board of Governors of the Federal Reserve System
→
|
| clarified |
powers of the Federal Reserve Board over member banks
→
|
| codifiedIn |
Title 12 of the United States Code
→
|
| country |
United States
→
|
| created |
Federal Open Market Committee
→
|
| dateSigned |
1935-08-23
→
|
| defined |
structure of the Federal Open Market Committee
→
|
| enactedBy |
74th United States Congress
→
|
| expanded |
federal authority over bank holding companies
→
|
| followed |
Banking Act of 1933
→
|
| historicalContext |
New Deal reforms
→
|
| historicalPeriod |
Great Depression
→
|
| increasedIndependenceOf |
Board of Governors of the Federal Reserve System
→
|
| jurisdiction |
United States federal government
→
|
| legislativeStatus |
in force as amended
→
|
| longTitleIncludes |
An Act to provide for the sound, effective, and uninterrupted operation of the banking system
→
|
| partOf |
New Deal
→
|
| policyArea |
central banking
→
financial regulation → macroeconomic stabilization → |
| presidentAtEnactment |
Franklin D. Roosevelt
→
|
| providedFor |
permanent deposit insurance framework via FDIC amendments
→
|
| purpose |
restructure the Federal Reserve System
→
strengthen federal bank regulation → strengthen federal control over monetary policy → |
| reducedPowerOf |
Federal Reserve district banks
→
|
| regulates |
banking in the United States
→
|
| relatedTo |
Glass–Steagall Act
→
|
| shortTitle |
Banking Act of 1935
→
|
| signedBy |
Franklin D. Roosevelt
→
|
| strengthened |
Board of Governors of the Federal Reserve System
→
|
| subjectMatter |
Federal Reserve System governance
→
bank supervision → monetary policy → |
| typeOfReform |
institutional reform of the Federal Reserve System
→
|
| yearEnacted |
1935
→
|
Referenced by (3)
| Subject (surface form when different) | Predicate |
|---|---|
|
Federal Reserve Act of 1913
→
|
amendedBy |
|
74th United States Congress
→
|
passed |
|
Banking Act of 1935
→
|
shortTitle |