Federal Deposit Insurance Corporation

Federal Deposit Insurance Corporation
n.
An agency within the executive branch of the U.S. government that insures deposits in banks and savings associations.
abbrv.
FDIC

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.


Federal Deposit Insurance Corporation
A federal agency that promotes public confidence in the U.S. financial system by insuring deposits in banks and by limiting the effect on the economy when a bank fails.
Category: Personal Finance & Retirement

Nolo’s Plain-English Law Dictionary. . 2009.

Federal Deposit Insurance Corporation
Federal Deposit Insurance Corporation (FDIC)
USA
The federal agency that preserves and promotes public confidence in the US financial system by insuring all deposit accounts at insured banks and savings associations, including checking and savings accounts, money market deposit accounts, certain individual retirement accounts (IRAs) and certificates of deposit up to the insurance limit of $250,000 (through December 31, 2013) per depositor. The limit increase is permanent for IRAs. The FDIC is responsible for:
• Identifying, monitoring and addressing risks to the deposit insurance funds.
• Limiting the effect on the economy and the financial system when a bank or thrift institution fails.
The FDIC does not insure money invested in stocks, bonds, mutual funds, life insurance policies, annuities or municipal securities.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.


Federal Deposit Insurance Corporation
(FDIC) An agency which insures deposits in banking institutions in the event of financial failure.

Short Dictionary of (mostly American) Legal Terms and Abbreviations.

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Look at other dictionaries:

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