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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  • Federal Deposit Insurance Corporation Improvement Act of 1991 — The Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA), passed during the Savings and loan crisis, strengthened the power of the Federal Deposit Insurance Corporation.It allowed the FDIC to borrow directly from the Treasury… …   Wikipedia

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  • Federal Deposit Insurance Corporation — FDIC A corporation that provides deposit insurance for US banks through the Bank Insurance Fund. It operates throughout the Federal Reserve System and also for other banks outside it (see state banks) …   Big dictionary of business and management

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