Share This Article:

Economic Definition of FDIC. Defined.

Offline Version: PDF

Term FDIC Definition: The abbreviation for Federal Deposit Insurance Corporation, which is a program established by Congress in 1933, during the worst of the Great Depression, to insure the deposits of failed banks. The FDIC operates much like any private insurance company. It collects insurance premiums from its customers--the banks--in return for the assurance that it will stand behind, or be ready to pay off, any deposits that the banks can't.


« FDI | featherbedding »


Alphabetical Reference to Over 2,000 Economic Terms