Deposit Insurance Fund
The Deposit Insurance Fund (DIF) was created by the Commonwealth of Massachusetts, USA in response to the large number of Massachusetts bank failures during the Great Depression. The Federal Deposit Insurance Corporation (FDIC) was inspired by the DIF.
Related Topics:
Commonwealth of Massachusetts - USA - Bank - Great Depression - Federal Deposit Insurance Corporation
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After the FDIC was created, the DIF was modified to cover all amounts not covered by the FDIC. As a result, an account holder of a Massachusetts bank has all of their deposit insured, between the DIF and FDIC.
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