Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation (FDIC) is an independent federal agency created by the Glass-Steagall Act of 1933. The vast number of bank failures in the Great Depression spurred the United States Congress into creating an institution which would guarantee banks, inspired by the success the Commonwealth of Massachusetts experienced with Deposit Insurance Fund (DIF). The FDIC currently guarantees checking and savings deposits in member banks up to $100,000 per depositor.
See also
~ Table of Content ~
| ► | Introduction |
| ► | Insurance requirements |
| ► | Insured deposits |
| ► | What is insured by the FDIC |
| ► | What is not insured by the FDIC |
| ► | Deposit insurance in action |
| ► | Criticisms of deposit insurance |
| ► | See also |
| ► | External links |
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