subject:

Banking Act of 1932

The Banking Act of 1932 amended the Federal Reserve Act to temporarily allow Federal Reserve banks to lend to member banks on assets not otherwise eligible for discount and give Federal Reserve banks authority to use government securities as collateral for Federal Reserve notes in addition to gold and commercial paper. Certain provisions were made permanent by subsequent legislation.

More Information
less

NOTE:

The law better known as the "Glass-Steagall Act"

RELATED SUBJECTS:

VARIANT NAMES:

  • Glass-Steagall Act of 1932
Save & Share
less