What does fdic mean Meaning and Definition
What does fdic mean
Pronunciation
/ˈwʊtˌduːzˌfˌdɪˌsɪˌmɛn/
Part of Speech
Noun
Definition
FDIC stands for Federal Deposit Insurance Corporation, a US government agency that provides deposit insurance to protect depositors in case of bank failures.
Examples
- The bank was insured by the FDIC, so customers’ deposits were protected.
- What does fdic mean? It means that your deposits are insured up to a certain amount.
Synonyms
- Deposit insurance
- Bank insurance
Antonyms
- Uninsured deposits
- Unprotected savings
Additional Information
The FDIC was created in 1933 to maintain stability and public confidence in the US banking system. It provides deposit insurance to depositors in case of bank failures, up to a certain amount. This means that if a bank fails, the FDIC will reimburse depositors for their insured deposits. The FDIC also monitors and regulates banks to ensure their safety and soundness.
The FDIC has several key functions, including deposit insurance, bank regulation, and bank resolution. It also provides resources and guidance to consumers to help them manage their finances and make informed decisions about their banking choices.
What does fdic mean? It means that your deposits are protected, and you can have confidence in the banking system. It’s an important part of the US financial system, and it plays a critical role in maintaining stability and public confidence.
Etimology
The term “FDIC” comes from the Federal Deposit Insurance Corporation, which was created in 1933. The term has its roots in the banking industry and has since become a widely recognized term in the financial world.
Usage Notes
The term “FDIC” is often used in the context of banking and finance. It’s commonly used to describe deposit insurance and the protection it provides to depositors.
Cultural References
The term “FDIC” has been referenced in various forms of media, including films, television shows, and books. It’s often used as a symbol of financial security and stability.
Idiomatic Expressions or Phrases
Some common idiomatic expressions or phrases that include the term “FDIC” include “FDIC insured” and “FDIC protected.”
Related Words or Phrases
Some related words or phrases to “FDIC” include “deposit insurance,” “bank insurance,” and “financial stability.”
Collocations
Some common collocations with the term “FDIC” include “FDIC insured deposits,” “FDIC protected accounts,” and “FDIC insured banks.”
Frequency of Use
The term “FDIC” is commonly used in the financial industry and is widely recognized by consumers. It’s a frequently used term in banking and finance.
Common Misspellings
Some common misspellings of the term “FDIC” include “FDICs,” “FDIc,” and “FDICs insurance.”