Base your answer on the transcript of FDR's March 12, 1933: Fireside Chat 1: On the Banking Crisis

https://millercenter.org/the-presidency/presidential-speeches/march-12-1933-fireside-chat-1-banking-crisis

FDR explains that because American Banks only hold a fraction of deposits on reserve the panic by depositors who lost confidence in their banks' ability to redeem their accounts into currency or gold created runs on all banks; sound and unsound. There was no way for banks to sell assets on short notice at process sufficient to make depositors whole.

T or F