Which U.S. president signed the Emergency Banking Act during the banking crisis of March 1933?

Franklin D. Roosevelt signed the Emergency Banking Act during the banking crisis of March 1933.

Roosevelt signed the act on March 9, 1933, shortly after taking office. The law gave the federal government tools to stabilize the banking system, including authority to reopen banks judged financially sound after a nationwide bank holiday.

The measure followed widespread bank failures and withdrawals. Many depositors had rushed to remove cash, and banks could not meet all demands because much of their money was invested in loans and securities. The bank holiday temporarily suspended normal banking operations while institutions were examined.

Roosevelt explained the policy in his first radio “fireside chat” on March 12, urging Americans to redeposit money in approved banks. The act was one part of the early New Deal response. It did not end the broader Great Depression, but it helped restore confidence and was followed by further banking reforms, including federal deposit insurance under the Banking Act of 1933.