Discussion
When did the banking crisis of 1913-1917 end?
Answer: B
Correct answer: 1949
The failures that began in 1913 were followed by decades in which weak, undercapitalised banks continued to collapse - there was no supervisor with power to prevent it. That ended only with the Banking Regulation Act of 1949, which gave the Reserve Bank authority over licensing, capital, management and inspection. Regulation, rather than any single event, is what closed the era of bank failures.
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