FDIC

What does FDIC stand for?

Federal Deposit Insurance Corporation

An acronym for a U.S. government corporation that provides deposit insurance in order to guarantee a depositor's accounts in member banks up to $250,000 per bank; created by the Banking Act of 1933 and began on January 1st, 1934.

Example

I deposited $250,000 in 2 different FDIC insured banks in order to be protected

Related Slang

CDCertificate of deposit
IRAIndividual Retirement Account
USDUnited States dollars
ATMAutomated teller machine
BreadMoney
Dead PresidentsMoney

Categories

Financial Terms
Updated February 25, 2015

FDIC definition by Slang.net

This page explains what the acronym "FDIC" means. The definition, example, and related terms listed above have been written and compiled by the Slang.net team.

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