Federal Deposit Insurance Corporation


noun

a public corporation, established in 1933, that insures, up to a specified amount, all demand deposits of member banks. Abbreviation: FDIC

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Culture definitions for federal deposit insurance corporation

Federal Deposit Insurance Corporation

A federal agency that insures deposits in the savings accounts of qualifying banks.

The New Dictionary of Cultural Literacy, Third Edition Copyright © 2005 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.