Emergency Banking Act of 1933

Emergency Banking Relief Act
Other short titles
  • Bank Conservation Act of 1933
  • Emergency Banking Relief Act of 1933
Long titleAn Act to provide relief in the existing national emergency in banking, and for other purposes.
Enacted bythe 73rd United States Congress
Citations
Public lawPub. L. 73–1
Statutes at Large48 Stat. 1
Legislative history
  • Introduced in the House as H.R. 1491 by Henry B. Steagall (D-AL) on March 9, 1933
  • Passed the House on March 9, 1933 (Passed (435–0))
  • Passed the Senate on March 9, 1933 (Passed (96–0))
  • Signed into law by President Franklin D. Roosevelt on March 9, 1933

The Emergency Banking Relief Act (E.B.R.A.) (Pub. L. 73–1, 48 Stat. 1, enacted March 9, 1933) was an act passed by the United States Congress in March 1933 in an attempt to stabilize the banking system.

The act authorized the Federal Reserve to issue additional currency to banks that were deemed solvent without the requirement that these reserves be backed by gold. One month following the passage of this act, President Roosevelt signed Executive Order 6102 criminalizing the possession of monetary gold by any individual, partnership, association or corporation.

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