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Reconstruction Finance Corporation (RFC), former U.S. government agency, created in 1932 by the administration of Herbert Hoover. Its purpose was to facilitate economic activity by lending money in the depression.
It was modeled after the War Finance Corporation of World War I. The agency gave $2 billion in aid to state and local governments and made a large number of loans which were nearly all repaid. The RFC was created to solve the problem that the Federal Reserve could not fix by itself since they had some limitations.