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Federal Deposit Insurance Corp.
(redirected from FDIC)

    Also found in: Dictionary/thesaurus, Legal, Financial, Acronyms, Wikipedia, Hutchinson 0.04 sec.

Federal Deposit Insurance Corp. (FDIC)

Independent U.S. government corporation created to insure bank deposits against loss in the event of a bank failure and to regulate certain banking practices. Established after the bank holiday in early 1933, the FDIC was intended to restore public confidence in the system. It insures bank deposits in eligible banks up to $100,000 for each deposit. All members of the Federal Reserve System are required to insure their deposits with the FDIC, and almost all commercial banks in the U.S. choose to do so.
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They also provide for immediate payment of the full amount of FDIC coverage available to beneficiaries, regardless of any limitations stipulated in the trust document.
The Federal Deposit Insurance Corp. (FDIC) in January changed its ... by Journal of Accountancy
The FDIC has also issued guidance to insured depository institutions about selected provisions of the Sarbanes-Oxley Act related to corporate governance, audits and reporting requirements.
Federal banking regulators release updated internal audit policy ... by CPA Letter
The idea was to help the FDIC find all the account holders when a bank failed.
Be Wary of a 'Registered' CD Broker by Quinn, Jane Bryant / Los Angeles Business Journal
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