Federal Deposit Insurance Corporation (FDIC) | Practical Law

https://content.next.westlaw.com/practical-law/document/I03f4d848eee311e28578f7ccc38dcbee/Federal-Deposit-Insurance-Corporation-FDIC?viewType=FullText&transitionType=Default&contextData=(sc.Default) Federal Deposit Insurance Corporation (FDIC)

Federal Deposit Insurance Corporation (FDIC)

Practical Law Glossary Item 6-383-9149 (Approx. 2 pages)

Glossary

Federal Deposit Insurance Corporation (FDIC)

An independent federal agency created by US Congress to maintain stability and public confidence in the nation's financial system by:

Insuring deposits at federal and state banks, thrifts other depository institutions.
Examining and supervising insured depository institutions for safety and soundness and consumer protection issues.
Managing receivership of failed or failing depository institutions (and with the passing of the Dodd-Frank Act, systemically significant financial institutions).

For more information, see Practice Notes, Understanding FDIC Deposit Insurance, The Role of the FDIC in a Bank Failure and Summary of the Dodd-Frank Act: Resolution of Failing Financial Institutions.