Events tagged with "emergency banking act"

Historical Events tagged with "emergency banking act"

Turns out history loves a label—battles, breakthroughs, and the occasional disaster, all neatly tagged for your browsing pleasure. Because sometimes you just need every weird invention in one place.

Politics & Government

Franklin D. Roosevelt's Nationwide Bank Holiday

March 6th, 1933 92 years ago

President Franklin D. Roosevelt declared a nationwide bank holiday, closing all U.S. banks and halting all financial transactions. This decisive move aimed to stabilize the banking system amidst the financial turmoil of the Great Depression, which had led to widespread bank failures, and restore public confidence in the financial institutions. Effective immediately, the bank holiday allowed time to assess the banks' financial health and implement emergency banking legislation.