The FDIC is a U.S. government agency that protects depositors by insuring deposits at banks and savings associations up to $250,000 per depositor, per insured bank, for each account ownership category. It also supervises financial institutions for safety and consumer protection.
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Bank Failure: This occurs when a bank is unable to meet its obligations to depositors or creditors and thus has to cease operations.
Deposit Insurance: A guarantee that depositors will recover their money up to a certain limit if their bank fails.
Risk Management: The process of identifying, assessing, and controlling threats to an organization's capital and earnings, which includes ensuring financial institution safety overseen by agencies like the FDIC
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