the new deal legislation that insures individual deposits up to a specific dollar amount is known as
New Deal The Glass–Steagall Act limited commercial bank securities activities and affiliations between commercial banks and securities firms to regulate speculations. It also established the Federal Deposit Insurance Corporation (FDIC), which insured deposits for up to $2,500, ending the risk of runs on banks.[43] This banking reform offered unprecedented stability: While throughout the 1920s more than five hundred banks failed per year; it was less than ten banks per year after 1933.[44]