FDR expected to restore the public confidence in banks once the banks are reopened because he initiated emergency suspension of all banks and made banking regulations and laws that made banks accountable and reliable.
FDR attempted to stabilize and regain public trust in the country's banking system.
The new president FDR proclaimed a four-day banking holiday that shut down the financial sector, including the Federal Reserve. A few days after this action, the Emergency Banking Act was passed with the goal of restoring Americans' faith in banks when they reopened which resulted in returning of hoarded money by public to banks.
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