Deposit Insurance Corporation

An agency of the United States established for the purpose of insuring bank deposits by setting up a permanent insurance fund for that purpose and the payment of deposits upon the closing of any insured bank, to preserve the solvency of insured banks, and to keep open the channels of trade and commercial exchange. 10 Am J2d Banks § 427.

Ballentine's law dictionary. . 1998.

Look at other dictionaries:

  • Deposit Insurance Corporation — Independent federal agency (Federal Deposit Insurance Corporation) created to insure bank deposits up to a specified amount in national and most state banks, including commercial and savings and loan banks, and to protect depositors from hazards… …   Black's law dictionary

  • Federal Deposit Insurance Corporation — FDIC …   Wikipedia

  • Nigeria Deposit Insurance Corporation — Formation 15 June 1988 Type Regulatory body Purpose/focus Provide security in the banking industry Official languages English Managing Director/CEO …   Wikipedia

  • Canada Deposit Insurance Corporation — (CDIC) is a Crown corporation owned by the Government of Canada.As a federal agency, it provides insurance (up to a $100,000 CAD per person on Canadian accounts only) for financial services provided by chartered Canadian banks and financial… …   Wikipedia

  • Korea Deposit Insurance Corporation — The Korea Deposit Insurance Corporation (KDIC) is a deposit insurance corporation, established in 1996 in South Korea to protect depositors and maintain the stability of the financial system. The major functions of KDIC can be classified into… …   Wikipedia

  • Federal Deposit Insurance Corporation — n. An agency within the executive branch of the U.S. government that insures deposits in banks and savings associations. abbrv. FDIC The Essential Law Dictionary. Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008.… …   Law dictionary

  • Canadian Deposit Insurance Corporation - CDIC — A crown corporation owned by the Canadian government that insures bank deposits up to C$100,000 per personal account held in member Canadian banks in they event that the financial institution fails. The corporation was formed under the Financial… …   Investment dictionary

  • Federal Deposit Insurance Corporation — 38° 53′ 50″ N 77° 02′ 24″ W / 38.8971, 77.0401 …   Wikipédia en Français

  • Federal Deposit Insurance Corporation Improvement Act of 1991 — The Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA), passed during the Savings and loan crisis, strengthened the power of the Federal Deposit Insurance Corporation.It allowed the FDIC to borrow directly from the Treasury… …   Wikipedia

  • Federal Deposit Insurance Corporation — ( FDIC) A federal institution that insures bank deposits. Bloomberg Financial Dictionary * * * Federal Deposit Insurance Corporation ˌFederal Deˈposit Inˌsurance Corpoˌration abbreviation FDIC noun ORGANIZATIONS BANKING a US government… …   Financial and business terms

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.