( FDIC)
A federal institution that insures bank deposits. Bloomberg Financial Dictionary
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Federal Deposit Insurance Corporation ˌFederal Deˈposit Inˌsurance Corpoˌration abbreviation FDIC noun ORGANIZATIONS
BANKING a US government organization that insures deposit S of up to $100,000 if a member bank fails, and that can act to prevent banks from failing and finance takeover S of failed banks:
• The Federal Deposit Insurance Corporation wants to encourage bank mergers as a way to improve credit conditions.
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A US federal agency, established in 1933, that provides limited guarantees for funds deposited with member banks. It also takes action to help banks merge or avoid failure.
■ www.fdic.gov ■
Financial and business terms. 2012.