Historydraft LogoHistorydraft Logo
Historydraft
beta
Historydraft Logo
Historydraft
beta

Great Depression

Reconstruction Finance Corporation is created

Friday Jan 22, 1932
U.S.

The Reconstruction Finance Corporation is created to lend $2 billion to troubled financial institutions that were not part of the Federal Reserve System that were solvent in the long-run. By 1941, the RFC would lend out some $9.5 billion to banks, railroads, and mortgage associations, as well as state and local governments.


<