<P> The Federal Deposit Insurance Corporation ( FDIC ) is a United States government corporation providing deposit insurance to depositors in US banks . The FDIC was created by the 1933 Banking Act during the Great Depression ( June 16 , 1933 ) to restore trust in the American banking system ; more than one - third of banks failed in the years before the FDIC 's creation , and bank runs were common . The insurance limit was initially US $2,500 per ownership category . Since the passage of the Dodd -- Frank Wall Street Reform and Consumer Protection Act in 2011 , the FDIC insures deposits in member banks up to US $250,000 per ownership category . </P>
<P> The Federal Deposit Insurance Corporation ( FDIC ) is a United States government corporation providing deposit insurance to depositors in US banks . The FDIC was created by the 1933 Banking Act during the Great Depression ( June 16 , 1933 ) to restore trust in the American banking system ; more than one - third of banks failed in the years before the FDIC 's creation , and bank runs were common . The insurance limit was initially US $2,500 per ownership category . Since the passage of the Dodd -- Frank Wall Street Reform and Consumer Protection Act in 2011 , the FDIC insures deposits in member banks up to US $250,000 per ownership category . </P>
what does fdic stand for in the new deal
what does fdic stand for in the new deal
Federal Deposit Insurance Corporation ( FDIC )
Federal Deposit Insurance Corporation ( FDIC )