The Reconstruction Finance Corporation (RFC) was an independent agency of the United States federal government that served as a lender of last resort to US banks and businesses.

Reconstruction Finance Corporation (RFC), U.S. government agency established by Congress on January 22, 1932, to provide financial aid to railroads, financial institutions, and business corporations.

On July 21, 1932, an amendment authorized the RFC to loan funds to state and municipal governments. The loans could finance infrastructure projects, such as the construction of dams and bridges, whose construction costs would be repaid by user fees and tolls.

May 7, 2022 · What Was the Reconstruction Finance Corporation (RFC)? The Reconstruction Finance Corp. (RFC) was an agency authorized by the U.S. government to loan money to assist the nation's ailing...

Functions: Provided emergency financing facilities for financial institutions. Aided in financing agriculture, commerce, and industry. Purchased preferred stock, capital notes, or debentures of banks, trust companies, and insurance companies. Made loans as prescribed by law. Abolished: By Reorganization Plan No. 1 of 1957, effective June 30, 1957.

Mar 28, 2019 · The Reconstruction Finance Corporation was a federal lending agency created by the U.S. government under President Herbert Hoover to rescue banks on the brink of failure and restore Americans' faith in the financial system while minimizing the crises of the Great Depression in the early 1930s.

Mar 19, 2024 · The Reconstruction Finance Corporation (RFC) played a pivotal role in stabilizing the U.S. economy during the Great Depression. Initially created to provide emergency loans to struggling banks, it evolved into a multifaceted entity influencing various sectors.

In July 1932, the Emergency Relief and Construction Act authorized the RFC to make up to $300 million in loans to state and local governments to assist them in providing relief to the unemployed, and $1.5 billion in loans to state and local governments to put people to work building such self-liquidating public works as toll roads, bridges, and ...

The Reconstruction Finance Corporation Act provided for direct federal assistance to the entire money market in the United States by underwriting loans to commercial banks, savings banks, insurance companies, trust companies, building and loan associations, mortgage banks, credit unions, Federal land banks, joint stock land banks, agricultural ...

Reconstruction Finance Corporation (RFC), former U.S. government agency, created in 1932 by the administration of Herbert Hoover. Its purpose was to facilitate economic activity by lending money in the depression.