The bank failures that occurred during the early years of the Great Depression:
A) hurt large depositors the most since it was the large money center banks that failed.
B) hurt small depositors the most since it was mainly small banks that failed.
C) hurt the government insurance funds since FDIC covered most of the losses of depositors.
D) totaled about 30% of total bank customer deposits.

Question

Quizplus · Accepted Answer

The bank failures during the Great Depression primarily impacted small banks, so small depositors were hurt the most. Large money center banks were more likely to weather the economic storm, and the FDIC helped protect depositors to some extent. The total amount of deposits lost was actually less than 10%.

The Bank Failures That Occurred During the Early Years of the Great