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Federal Deposit Insurance Corporation was created in 1933.
It provides deposit insurance which guarantees the safety of checking and savings deposits in member banks, currently up to $100,000 per depositor per bank.
Glass-Steagall Banking Act
Well, honey, the Federal Deposit Insurance Corporation (FDIC) is alive and kickin'. It was created during the Great Depression to protect bank deposits, and it's still around today making sure your money is safe and sound up to $250,000 per depositor, per insured bank. So, yes, the FDIC is very much a thing in the banking world.
protect peoples savings accounts
By preventing bank runs
By preventing bank runs
The establishment of federal deposit insurance corporation
Federal Deposit Insurance Corporation
The establishment of the FDIC (Federal Deposit Insurance Corporations) to regulate stock exchange so another stock market crash can be avoided.
If the deposits in one bank are insured by the government sponsored deposit insurance whereas, in another bank this insurance is not available, it means that in case the first bank goes bankrupt, the government will give me my hard earned money that I put into my account with that bank, whereas it won't do anything if the other bank that does not have deposit insurance goes bankrupt and I stand to lose my hard earned money. So, I will deposit my money only in a bank that has the FDIC insurance on deposits available.
Canada Deposit Insurance Corporation was created in 1967.
Nigeria Deposit Insurance Corporation was created in 1988.
Federal Deposit Insurance Corporation was created in 1933.
Deposit Insurance Agency of Russia was created in 2004.
Rita Carisano has written: 'Deposit insurance' -- subject(s): Deposit insurance
Banks failed when people began to withdraw all of their money