Federal Deposit Insurance Corporation

Federal Deposit Insurance Corporation Glossary Definition

Federal Deposit Insurance Corporation. An independent deposit insurance agency, created by Congress as part of the Banking Act of 1933, to maintain stability and public confidence in the US banking system. FDIC insures deposits in banks and savings associations so that customers' funds, within certain limits, would be safe and available to them on demand in the event of a bank or savings association failure. The current insurance limit is $100,000. FDIC is also responsible for identifying, monitoring, and addressing risks to deposit insurance funds.

For more information, see the FDIC web site

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