ACTS OF 1932

The Federal Home Loan Bank Act: This act gave emergency aid to threatened building and loan associations. It also created the Federal Home Loan Bank Board, which provided credit reserves for savings and loan associations engaged in home mortgage lending.

The Glass-Steagall Act of 1932: The first of two acts bearing this name, it attempted to reform the banking system after the disasters of 1929 on. It liberalized Federal Reserve credit to member banks, and provided gold to meet foreign withdrawals.

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