Definition: This was a federally sponsored corporation which insures deposits in national banks and certain other qualifying fin

Question

Mars2501 [29]

3 years ago

9

Definition: This was a federally sponsored corporation which insures deposits in national banks and certain other qualifying fin

ancial institutions up to a stated amount.

History

2 answers:

KiRa [710] · Answer 1 · 2022-07-22T15:36:57+03:00

Answer:

Federal Deposit Insurance Corporation (FDIC).

Explanation:

The Federal Deposit Insurance Corporation (FDIC) is a United States federally sponsored corporation which insures deposits in national banks and certain other qualifying financial institutions up to US$250,000.

It was created by the 1933 Banking Act, enacted during the Great Depression. The insurance limit was initially US$2,500 per ownership category, but this has been increased several times over the years and is currently $250,000 per ownership category.

It is primarily funded by member banks' insurance dues and has a US$100 billion line of credit with the United States Department of the Treasury.

Georgia [21] · Answer 2 · 2022-07-22T17:33:51+03:00

Georgia [21]3 years ago

4 0

Answer:

FDCI

Explanation: