A major purpose of the FDIC during the 1930s was to?

A major purpose of the FDIC (Federal Deposit Insurance Corporation) during the 1930s was to restore public confidence in the banking system following the Great Depression. Established in 1933, the FDIC provided insurance for bank deposits, ensuring that depositors would not lose their savings in the event of a bank failure. This helped stabilize the banking system, reduce bank runs, and promote financial security for individuals and businesses. By safeguarding deposits, the FDIC aimed to encourage people to trust and utilize banks again, thereby supporting economic recovery.