Question
What does the "FDIC" stand for? Federal Deposit Insurance Cause Federal Deposit Insurance Company Federal Deposit Insurance Corporation Federal Deposit Insurance Care
Answer
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Logan
Veteran · Tutor for 10 years
Answer
Federal Deposit Insurance Corporation
Explanation
## Step 1: The FDIC is an acronym used in the context of banking and financial institutions in the United States. ## Step 2: The correct full form of FDIC is the Federal Deposit Insurance Corporation. This organization was created to maintain public confidence and encourage stability in the financial system through the promotion of sound banking practices. ## Step 3: The FDIC insures deposits in banks and thrift institutions for at least $250,000, identifies, monitors and addresses risks to the deposit insurance funds, and limits the effect on the financial system when a bank or thrift institution fails.