The Federal Deposit Insurance Corporation was the organization created to restore public confidence in the nation's banking institutions during the Roosevelt administration.
Step-by-step explanation:
- When there was a great depression in the US.There was economic slow own which tempted the people to make more crimes and the banking system also became unstable.
- Due to the unstable and many other riots the bank was declared as 8 day holiday.
- Later in order to resolve this issue, the emergency banking act was passed in March 1933 by the American congress. It is a temporary body.
- In order to create the permanent body the Federal deposit insurance Corporation was formed.