Reconstruction Finance Corporation Act

E181122

The Reconstruction Finance Corporation Act was a 1932 U.S. law that created a federal agency to provide emergency financial support to banks, railroads, and other key institutions during the Great Depression.

All labels observed (2)

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Statements (48)

Predicate Object
instanceOf New Deal–era legislation ⓘ
United States federal statute ⓘ
administeredBy Reconstruction Finance Corporation board of directors ⓘ
allowedBorrowingLimit $1,500,000,000 ⓘ
appliesTo national banks ⓘ
railroad companies ⓘ
state banks ⓘ
trust companies ⓘ
authorized federal loans to agricultural credit organizations ⓘ
federal loans to banks ⓘ
federal loans to insurance companies ⓘ
federal loans to railroads ⓘ
authorizedCapital $500,000,000 ⓘ
classification emergency economic legislation ⓘ
codifiedIn Statutes at Large of the United States ⓘ
context Great Depression ⓘ
country United States ⓘ
created Reconstruction Finance Corporation ⓘ
dateEnacted 1932-01-22 ⓘ
enactedBy 72nd United States Congress ⓘ
expandedBy Emergency Relief and Construction Act of 1932 ⓘ
expandedUnder Franklin D. Roosevelt administration ⓘ
hasEffect increased federal role in credit markets ⓘ
provided liquidity to solvent but illiquid institutions ⓘ
inForceIn United States federal jurisdiction ⓘ
inspired later federal credit programs ⓘ
languageOfWork English ⓘ
legalStatus amended and superseded by later legislation ⓘ
legislativeChamber United States House of Representatives ⓘ
United States Senate ⓘ
motivatedBy bank failures of 1930–1931 ⓘ
credit contraction during the Great Depression ⓘ
policyArea banking regulation ⓘ
economic policy ⓘ
financial stabilization ⓘ
providedFor government purchase of bank capital notes ⓘ
government purchase of preferred stock in banks ⓘ
purpose to provide emergency financing to banks ⓘ
to provide emergency financing to other financial institutions ⓘ
to provide emergency financing to railroads ⓘ
to stabilize the U.S. financial system during the Great Depression ⓘ
relatedTo Emergency Banking Act of 1933 ⓘ
New Deal ⓘ
shortTitle Reconstruction Finance Corporation Act ⓘ
signedBy Herbert Hoover ⓘ
subjectOf United States economic history scholarship ⓘ
timePeriod interwar period ⓘ
yearEnacted 1932 ⓘ

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Referenced by (5)

Full triples — surface form annotated when it differs from this entity's canonical label.

Herbert Hoover administration → notableLegislation → Reconstruction Finance Corporation Act ⓘ
Reconstruction Finance Corporation Act → shortTitle → Reconstruction Finance Corporation Act ⓘ
Emergency Relief and Construction Act of 1932 → relatedTo → Reconstruction Finance Corporation Act ⓘ
Reconstruction Finance Corporation → createdBy → Reconstruction Finance Corporation Act ⓘ
Reconstruction Finance Corporation board of directors → follows → Reconstruction Finance Corporation Act of 1932 ⓘ
linked to: Reconstruction Finance Corporation Act