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Federal Deposit Insurance Corporation  

Ensure that savings accounts are protected 

FDIC

Created in 1933 due to many bank failures in the 1920s

 

June 16, 1933, President Roosevelt signed the Banking Act which established the FDIC

 

Started on January 1, 1934

 

Is still going on today

 

 

A recovery program

 

Leslie Tejada

    The FDIC preserves public confidence in the U.S. financial system by insuring deposits in the bank. They are funded by the banks themselves. When the FDIC first began the insurance coverage level was $2,500. It now insures $250,000 coverage per depositor. They also ensure that the people who deposit will get their money back when needed.

    This program was created during the Great Depression. After many banks failing, they created the FDIC to help the people. Once they became an industry bank runs no longer made a threat to the banking industry. They provided a deposit insurance to banks. In 1933 the FDIC was a temporary government corporation but later became a permanent agency of the government by 1935. It is still around today.

Franklin D Roosevelt

  • Born on January 30, 1882
  • Franklin signed the bill to enact the Banking Act in 1933
  • His first attempt at a national office did not work
  • Became the longest serving president in U.S, history
  • FDR had polio
  • He was the first president to fly in a plane
  • He was also the first president to leave the country during wartime
  • Part of the Democratic party
  • Married Anna Eleanor Roosevelt
  • Died during his first term

Unemployment rate - down

Government Spending - down

GDP - up

Confidence Building - up

Role of Government - up