What Is the FDIC?

What Is the FDIC?

The Federal Deposit Insurance Corp., an independent federal agency, serves several functions. Arguably its most important job is insuring money you’ve deposited at an FDIC-member bank. The FDIC typically insures an account at a bank or savings institution for up to $250,000 in the event that your bank fails. FDIC insurance means you can feel confident about keeping money at an FDIC-insured bank, rather than stashing it under your mattress. The F…

FDIC scraps some large bank living will requirements

Instead of requiring a bridge bank strategy, the FDIC wants large banks to describe one or more potential resolution strategies the regulator could execute, it said Friday.