Answer:
After the crash during the first 10 months of 1930, 744 banks failed – 10 times as many. In all, 9,000 banks failed during the decade of the 30s. It's estimated that 4,000 banks failed during the one year of 1933 alone. By 1933, depositors saw $140 billion disappear through bank failures.
When banks closed as a result of the financial crisis of the Great Depression, the depositors will face losses.
The great depression was a worldwide economic depression that happened between 1929 to 1939. It led to a fall in stock prices in the US. The causes of the Great Depression include the stock market crash, the collapse of World Trade, government policies bank failures, and panics. It was also due to the collapse of the money supply.
During the Great Depression, when the banks closed as a result of financial prices, the banks refused to pass on the amount to the depositors and the depositors had to face losses.
Thus, the depositors will face losses, when the bank closes as a result of the financial crisis of the Great Depression.
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