Federal Deposit Insurance Corporation
In deposit terminology, the term Federal Deposit Insurance Corporation or FDIC refers to a U.S. government corporation that insures qualifying deposits made at all of its member banks located in the United States. The stated mission of the FDIC is to maintain the �stability of and public confidence in the U.S. banking system.�
For example, the Federal Deposit Insurance Corporation or FDIC currently insures qualifying deposit accounts for all FDIC member banks and institutions in the United States up to a certain limit. The maximum amount that the FDIC formerly insured each account for was $100,000 U.S. Dollars, although recent banking changes have seen the FDIC increase the maximum amount insured in member bank accounts permanently to the $250,000 level. In addition to its key role in insuring U.S. deposit accounts, the FDIC also perform other functions that include such things as extending loans to member banks, assisting in mergers and aiding troubled banks to help prevent failures.