FDIC is an acronym for the Federal Deposit Insurance Corporation. It is an independent agency established to protect depositors and maintain stability in the U.S. banking system by providing deposit insurance.
Related terms
Banking System: The banking system refers to the network of financial institutions, such as banks and credit unions, that provide various services including accepting deposits and making loans.
Financial Crisis: A financial crisis occurs when there is a significant disruption in the normal functioning of the financial system, leading to instability and potential damage to economies.
Government Agency: A government agency is an organization or department within the government that carries out specific functions or provides services on behalf of the public.