ECONOMICS
SAVING AND INVESTING
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
True
|
|
|
False
|
|
|
Either A or B
|
|
|
None of the above
|
Detailed explanation-1: -Economic Inclusion. The FDIC recognizes that public confidence in the banking system is strengthened when households effectively use the mainstream banking system to deposit funds securely, conduct basic financial transactions, accumulate savings, and access credit on safe and affordable terms.
Detailed explanation-2: -The FDIC protects depositors of insured banks located in the United States against the loss of their deposits if an insured bank fails. Any person or entity can have FDIC insurance coverage in an insured bank.
Detailed explanation-3: -FDIC deposit insurance only covers certain deposit products, such as checking and savings accounts, money market deposit accounts (MMDAs), and certificates of deposit (CDs).
Detailed explanation-4: -Insuring deposits, Examining and supervising financial institutions for safety and soundness and consumer protection, Making large and complex financial institutions resolvable, and. Managing receiverships.