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Federal Deposit Insurance Corporation (FDIC)
Practical Law Glossary Item 6-383-9149 (Approx. 2 pages)
Glossary
Federal Deposit Insurance Corporation (FDIC)
An independent federal agency created by US Congress to maintain stability and public confidence in the nation's financial system by:
- Insuring deposits at federal and state banks, thrifts other depository institutions.
- Examining and supervising insured depository institutions for safety and soundness and consumer protection issues.
- Managing receivership of failed or failing depository institutions (and with the passing of the Dodd-Frank Act, systemically significant financial institutions).