Federal Deposit Insurance Corporation (Noun)
Meaning
A federally sponsored corporation that insures accounts in national banks and other qualified institutions.
Classification
Nouns denoting groupings of people or objects.
Examples
- The Federal Deposit Insurance Corporation was created to maintain stability and public confidence in the US financial system.
- The bank's membership in the Federal Deposit Insurance Corporation ensured that its customers' deposits were insured up to a certain amount.
- The Federal Deposit Insurance Corporation provides deposit insurance to protect depositors in case of bank failures.
- The Federal Deposit Insurance Corporation was established in 1933 as a response to widespread bank failures during the Great Depression.
- The Federal Deposit Insurance Corporation also plays a role in regulating and supervising banks to ensure their safety and soundness.