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Federal Deposit Insurance Corporation
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    Also found in: Legal, Financial, Encyclopedia, Wikipedia 0.04 sec.

Federal Deposit Insurance Corporation

US government authority established in 1933 to regulate US banks and insure them against loss.

The body was set up following the collapse of the banking sector early in 1933. All members of the Federal Reserve System are required to belong to the FDIC, and many other US banks that are prepared to conform to certain regulations are also members.
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