federal deposit insurance corp

English - English

Definition of federal deposit insurance corp in English English dictionary

Independent U.S. government corporation created to insure bank deposits against loss in the event of a bank failure and to regulate certain banking practices. Established after the bank holiday in early 1933, the FDIC was intended to restore public confidence in the system. It insures bank deposits in eligible banks up to $100,000 for each deposit. All members of the Federal Reserve System are required to insure their deposits with the FDIC, and almost all commercial banks in the U.S. choose to do so

Hyphenation

fed·er·al de·po·sit insur·ance corp

Turkish pronunciation

fedrıl dıpäzît înşûrıns kôrp

Pronunciation

/ˈfedrəl dəˈpäzət ənˈsʜo͝orəns ˈkôrp/ /ˈfɛdrəl dəˈpɑːzɪt ɪnˈʃʊrəns ˈkɔːrp/