3 years ago

6. Bank Holiday—what is it? Why?

1 answer:

4 0

Answer:

After a month-long run on American banks, Franklin Delano Roosevelt proclaimed a Bank Holiday, beginning March 6, 1933, that shut down the banking system. ... Roosevelt used the emergency currency provisions of the Act to encourage the Federal Reserve to create de facto 100 percent deposit insurance in the reopened banks.

Explanation:

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