FDIC Basics
What is the FDIC
Government Agency created in 1933 to protect peoples money in banks.
This protects people’s money up to a specific amount if a bank fails.
Deposit Insurance
What is to protect peoples deposits?
This was the main reason the FDIC was created during the Great Depression
What is bank supervision?
regular checkups that help the FDIC make sure banks are safe.
What is a bank run?
When large groups of people rush to withdraw their money out of fear.
When a bank runs into serious financial trouble, the FDIC steps in to close it safely and make sure depositors get their money back.
What is a failed bank?
The FDIC helps restore this by keeping people confident that banks are safe.
Trust
The fdic is not involved in what banks?
credit unions and private banks
This amount was the original FDIC deposit insurance limit in 1933.
$2,500
These digital assets are not protected by the FDIC.
What are cryptocurrencies?