Two days after the oath of office FDR declared a banking holiday lasting throught march 6 to the 10th this caused all the nations banking transactions to be suspended.during this period FDR presented the emergency banking act to congress,once this was passed the treasury department reopened banks that could pay off their own debts and help the banks that could not.This gave people reassurance that putting there money in banks was safe once again.
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Roosevent signed the Emergency Banking Act on March 9, 1933 in an attempt to stabilize the banking industry. By the time banks opened again on March 13, the nationwide bank run had been stemmed and Americans began to return their hoarded cash.
Part of Roosevelt's New Deal was relief, reform, and recovery. He started to repair from the inside by fixing the banking system with acts like the FDIC, which protects depositors and investors incase of bank failure. The emergency banking act created a week long bank holiday to keep people from withdrawing money and the banks from going bankrupt.