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3 years ago

Help Please

Business

2 answers:

tino4ka555 [31]3 years ago

7 0

Answer:

Declared bank holiday

Explanation:

During the great depression in the U.S the banks experienced a massive withdrawal ( bank runs ) by bank customers due to the fear that the financial institution/banks would soon go bankrupt and the fear of loosing all their money kept in the bank. depositors made massive withdrawals without making a single deposit which led the banks into liquidating most of its assets to be able to pay their customers .

The bank runs was a great problem that was experienced by the banking sector during the Great depression. the great depression was a period immediately after the Huge crash of the stock markets which saw investors loose all their investments in the stock market. in other to help counter bank runs. the U.S the president Franklin Roosevelt declared a bank holiday in an effort to prevent customers from making more withdrawals

Ilya [14]3 years ago

6 0

The answer is created the federal reserve system

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3 years ago

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