Which U.S. president signed the Banking Act of 1933 after the banking crisis worsened during the Great Depression?

Franklin D. Roosevelt signed the Banking Act of 1933 after the banking crisis worsened during the Great Depression.

Roosevelt became president in March 1933, when widespread bank failures had damaged public confidence. He declared a national bank holiday shortly after taking office, temporarily closing banks so they could be examined and stabilized.

The Banking Act of 1933 created the Federal Deposit Insurance Corporation, or FDIC, which began insuring eligible bank deposits. It also separated commercial banking from investment banking through provisions commonly associated with the Glass–Steagall Act.

The law did not directly end the stock-market crash of 1929, which had begun years earlier. Instead, it addressed the banking instability that deepened the Depression and helped restore confidence in the financial system. The commercial-investment banking separation was later repealed in substantial part by the Gramm–Leach–Bliley Act of 1999.