Stephanie Blair and Staci Gelatka. Passed by congress under Roosevelt Shaped the development of banking system Reduced bank competition for depositor's.

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Presentation transcript:

Stephanie Blair and Staci Gelatka

Passed by congress under Roosevelt Shaped the development of banking system Reduced bank competition for depositor's money Revived confidence in banking system Banned deposit banks from investment banking GLASS-STEAGALL BANKING ACT OF 1933

U.S. Independent government corporation Created under Glass Steagall Banking Act Established after the Great Depression Insure bank deposits during bank failure Ended the epidemic of bank failures FDIC: FEDERAL DEPOSIT INSURANCE CORPORATION

banned deposit banks from investment banking buy newly issued stocks/securities resell them to public for profit gave Federal Reserve System power regulate interest rates savings and time deposits Joseph W. Barr GLASS-STEAGALL BANKING ACT AND GOVERNMENT

Created Federal Deposit Insurance Corporation insures deposits to maximum limit Protected from bank failure Members of the Federal Reserve System must buy deposit insurance from FDIC FDIC AND GOVERNMENT

EFFECTIVENESS

Immediately: No, circulation decreased Increased hoarding Long-Term: Yes, exited Great Depression Continued until repealed in 90s EFFECTIVENESS CTD.

Allen, Larry. "Glass-Steagall Banking Act (1933)." American Government. ABC- CLIO, Web. 26 Nov "Federal Deposit Insurance Corporation." Encyclopædia Britannica. Encyclopædia Britannica Online School Edition. Encyclopædia Britannica, Inc., Web. 26 Nov "Chapter 34: The Great Depression and the New Deal | APNotes.net." Chapter 34: The Great Depression and the New Deal | APNotes.net. N.p., n.d. Web. 30 Nov Resnick, Eugene. "The New Deal and the Politics of the 1930s, "Barron's Ap United States History. Hauppauge: Barrons Educational Series Inc, Print. "GLASS DEFINES MEASURE: Special to THE NEW YORK TIMES." New York Times [New York] 12 Feb. 1932: 1, 14. Print. WORKS CITED: INFORMATION Blue: Secondary Source Purple: Primary Source

"Franklin D. Roosevelt signs the Banking Act of 1933." Image. Federal Deposit Insurance Corporation. American Government. ABC-CLIO, Web. 26 Nov "Joseph W. Barr." Image. U.S. Treasury Department. American Government. ABC- CLIO, Web. 30 Nov Federal Deposit Insurance Corporation. Photograph. Encyclopedia Britannica. Web. 26 Nov "Bank and Thrift Failures, including Pre-FDIC." Chart. N.p., 27 Oct Web. 2 Dec "Bank-Failure." WordPress, 30 Dec Web. 2 Dec WORKS CITED: IMAGES