Reconstruction Finance Corporation

E202079

The Reconstruction Finance Corporation was a U.S. government agency created during the Great Depression to provide financial support to banks, industries, and public works in order to stabilize and stimulate the national economy.

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Statements (47)

Predicate Object
instanceOf federal corporation
government agency
appliesToJurisdiction United States
archivesAt National Archives and Records Administration
country United States
createdBy Reconstruction Finance Corporation Act
dissolved 1957
expandedUnder Franklin D. Roosevelt administration
financed defense industries
housing projects
public works infrastructure
state and local government projects
war production facilities
followedBy Small Business Administration
various specialized federal lending agencies
fundingMethod borrowing from the U.S. Treasury
sale of government-backed securities
headquartersLocation Washington, D.C.
inception 1932
industry public finance
jurisdiction United States federal government
legalForm government-owned corporation
legislatedBy United States Congress
namedAfter Reconstruction Finance
notableChairperson Jesse H. Jones
operatedDuring Great Depression
World War II
post–World War II era
parentOrganization United States government
partOf New Deal programs
linked to: New Deal
positionHeld lender of last resort for U.S. financial institutions
precededBy War Finance Corporation
purpose finance public works projects
provide financial support to agriculture
provide financial support to banks
provide financial support to industry
provide financial support to insurance companies
provide financial support to railroads
stabilize the national economy
stimulate the national economy
reasonForAbolition concerns about political influence and inefficiency
perception of redundancy with other federal credit programs
sector public sector
signedIntoLawBy Herbert Hoover
significantEvent assumption of war-related financing functions during World War II
major expansion of lending authority in 1933
supervisedBy Board of Directors appointed by the President of the United States

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Referenced by (8)

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

Housing and Home Finance Agency coordinateWith Reconstruction Finance Corporation
Foreign Economic Administration replacedBy Reconstruction Finance Corporation
Jesse H. Jones notableWork Reconstruction Finance Corporation leadership
linked to: Reconstruction Finance Corporation
Reconstruction Finance Corporation Act created Reconstruction Finance Corporation
Emergency Relief and Construction Act of 1932 authorized Reconstruction Finance Corporation loans to states for relief
linked to: Reconstruction Finance Corporation
Emergency Relief and Construction Act of 1932 implementedBy Reconstruction Finance Corporation
Reconstruction Finance Corporation namedAfter Reconstruction Finance
linked to: Reconstruction Finance Corporation
Stanley Forman Reed workedFor Reconstruction Finance Corporation