Brief History of Deposit Insurance in the United States

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By James McFadyen (ed)
Year: 1998
Pages: 76
Binding Paperback
ISBN 978-1-4578-6804-7

Product Code: 1457868040

Description

After the 6-day bank holiday announced by President Franklin D. Roosevelt in 1933, some 4,000 banks never reopened. The confidence of the American people remained shaken and public opinion and Congress supported the adoption of a federal plan to protect bank depositors. The Federal Deposit Insurance Corp. (FDIC) was created when President Roosevelt signed into law the Banking Act of 1933. FDIC was an immediate success in restoring public confidence and stability to the banking system. Contents: Antecedents of Federal Deposit Insurance; Establishment of the FDIC; The Early Years: 1934-1941; War and Recovery: 1942-1970; A Costly Evolution: 1971-1991; A Remarkable Turnaround: 1992-1998; Current Issues in Deposit Insurance. Figures. This is a print on demand report.

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