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Franklin Roosevelt shut down banks for a bit so federal inspectors from the treasury department could declare whether banks had the capacity to operate again. If the bank was declared stable they were reopened and given help and loans to keep going. If the bank was declared unstable then they were never reopened. This was only a transient solution, a quick fix, and less than a year later they created the FDIC as a more permanent solution.
Wiki User
∙ 13y ago
Wiki User
∙ 14y agoThe act allowed a plan that would close down insolvent banks and reorganize and reopen those banks strong enough to survive.
Wiki User
∙ 13y agoIt fixed the banking crisis because people started trusting the banks again and deposited there into the bank which helped the economy
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What authorized the treasury Department to inspect banks?
Emergency Banking Relief Act (EBRA)
What was the The federal emergency relief act?
Emergency Banking Relief Act provided for the reopening of the banks as soon as examiners had found them to be financially secure. Answered BY: Levi M. Levitt
What was NOT part of the Second New Deal. a.Social Security Act b.Wagner-Connery Act c.Emergency Banking Act d.Revenue Act?
c) Emergency Banking Act
Was the emergency quota act part of the new deal?
The Emergency Banking Relief Act was part of the fi9rst new deal. It provided additional funds for banks from the RFC and Federal reserve, allowed the treasury to open sound banks after ten days and to merge or liquidate ones and forbade the hoarding or export of gold.
What was the purpose of the emergency relief and construction act?
This act, passed July 1932, provided money for public works projects. It was the first major relief legislation to deal with the great depression.
What legislation ended the banking crisis?
Emergency Banking Relief Act
This act gave the Treasury Department the right to investigate all banks.?
Emergency Banking Relief Act
This act gave the Treasury Department the right to investigate all banks?
Emergency Banking Relief Act
What authorized the treasury Department to inspect banks?
Emergency Banking Relief Act (EBRA)
The Emergency Banking Relief Act helped solve the banking crisis by?
Issuing licenses to banks that the federal examiners found to be financially sound
What did roosevelt and congress pass the day after Franklin Delano Roosevelt's inauguration?
The New Deal
What were the four bills sent to congress implenting Roosevelts New Deal?
1) Federal Emergency Relief Act 2) The Social Security Act 3) Emergency Banking Act 4) The Agricultural Adjustment Act
What authorized the treasury department to inspect banks and to close those that were unsound with the greater goal of restoring public confidence in the banking system?
emergency banking relief act .
What best describes the purpose of the Emergency Relief Appropriations Act?
The purpose of the Emergency Relief Appropriations Act is to provide funds for emergency relief, primarily through employment.
This act gave the treasury department the right to investigate all banks-?
The Emergency Banking Relief Act gave the treasury department the right to investigate all the banks.
What act gave work relief for states?
Federal Emergency Relief Act
What was the The federal emergency relief act?
Emergency Banking Relief Act provided for the reopening of the banks as soon as examiners had found them to be financially secure. Answered BY: Levi M. Levitt
