BANKING AFFAIRS

Detailed explanation-1: -The FDIC-short for the Federal Deposit Insurance Corporation-is an independent agency of the United States government. The FDIC protects depositors of insured banks located in the United States against the loss of their deposits if an insured bank fails.

Detailed explanation-2: -Deposits are insured up to at least $250, 000 per depositor, per FDIC-insured bank, per ownership category. Deposit insurance is calculated dollar-for-dollar, principal plus any interest accrued or due to the depositor, through the date of default.

Detailed explanation-3: -The Federal Deposit Insurance Corporation (FDIC) is an independent federal government agency which insures deposits in commercial banks and thrifts. Federal deposit insurance is mandatory for all federally-chartered banks and savings institutions.

Detailed explanation-4: -About the FDIC The Federal Deposit Insurance Corporation (FDIC) is an independent agency created by the Congress to maintain stability and public confidence in the nation’s financial system.

Detailed explanation-5: -In addition to its role as insurer, the FDIC is the primary federal regulator of federally insured state-chartered banks that are not members of the Federal Reserve System. The FDIC carries out its mission through three major programs: insurance, supervision, and receivership management.