Answer:
The Reconstruction Finance Corporation (RFC) was an independent government agency in the United States that emerged in 1932 during the presidency of Herbert C. Hoover. Its task was the financial support of banks and other private companies during the Great Depression.
Explanation:
The RFC distributed approximately $2 billion to states and local governments, while providing loans to banks, railway companies, real estate farm corporations, and various businesses. The loans were almost all repaid.
The agency continued during Franklin D. Roosevelt's New Deal and played a major role in the end of the Great Depression, and in the implementation of aid programs introduced during the New Deal.
The agency was abolished by the Reorganization Plan on June 30, 1957.
