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FDIC Insurance Wiki, Limits, History

FDIC Insurance Wiki, Limits, History: Hello. Everyone In this article, I'll be discussing on the FDIC Insurance.


If you are looking for the detailed info about FDIC Insurance?

Then you have landed in the right place so, keep reading ahead FDIC Insurance Wiki, Reviews, Limits, History.

FDIC Insurance Wiki


FDIC stands for Federal Deposit Insurance Corporation. 

The purpose of FDIC insurance is to provide deposit insurance to the depositor in the U.S. commercial banks and savings institutions.

The FDIC was created in 1933 Banking act to restore the lost trust among the population in the American Banking System.

More than 1/3rd of banks failed before FDIC and banks runs were common.

The insurance limit was initially $2500 per ownership category and this was increased several times during the years.

FDIC Insurance History


During the Panics and the Great Depression, many banks filed bankruptcy due to bank runs caused by contagion.


Due to which, in 1983, Jennings Williams Bryan presented the bill to Congress proposing a Nation Deposit Insurance Fund.

However, unfortunately, no action was taken that time as the government was more focused on solving the problem of agriculture depression.


After, 1907, 8 banks established deposit insurance fund due to tax regulations of banks and the widespread inability of banks to branch.

In 1921, There were about 31000 banks in the U.S.

The FDIC initially included a provision for nationwide FDIC.


FDIC Insurance Limits




FDIC Insurance was introduced to help population in increasing the lost trust in American Banking System.

Now, talking about the limits of FDIC it is $25,00,00 per depositor per institution and per ownership category.

Now, In case you don't what actually FDIC is?

Suppose you have an account at XYZ Bank and you have in total $ 300,000 including money in savings account, checking account, and CDs.

So, If your bank fails because of any reason than you'll lose $50000 since your bank would cover only up to $250000.




























DepositFDIC coverage (up to $25,00,00)
Checking Account$50,000$50,000
Saving Account$100,000$100,000
CDs$200,000$100,000
Uninsured Funds$100,000$100,000

Winding Up:


I hope this article was helpful to you and I hope you've understood the FDIC Insurance Wiki, FDIC Insurance History, FDIC Insurance Limits.

Read Next: Root Insurance Company Wiki | Reviews | Claims | Pros | Cons

Subham Sahuwala

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