Emergency Bank Relief Act

This article or section should be merged with Emergency Banking Act.

Emergency Banking Relief Act (EBRA) of March 1933 allowed banks to reopen after Franklin D. Roosevelt's United States bank holiday when they had enough money, and received a license from the United States Treasury Department because they were capable of meeting all debts and financial obligations. All other banks had to be sorted out and reorganized before FDR thought they were safe enough to reopen. This act also prohibited the hoarding and export of gold. The bill was actually quite conservative because all the same bank leaders remained in charge.