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FDIC

   Also found in: Legal, Financial, Acronyms, Encyclopedia, Wikipedia, Hutchinson 0.04 sec.
FDIC
abbr.
Federal Deposit Insurance Corporation
ThesaurusLegend:  Synonyms Related Words Antonyms
Noun1.FDICFDIC - a federally sponsored corporation that insures accounts in national banks and other qualified institutions
corp, corporation - a business firm whose articles of incorporation have been approved in some state

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They also provide for immediate payment of the full amount of FDIC coverage available to beneficiaries, regardless of any limitations stipulated in the trust document.
The FDIC has also issued guidance to insured depository institutions about selected provisions of the Sarbanes-Oxley Act related to corporate governance, audits and reporting requirements.
The idea was to help the FDIC find all the account holders when a bank failed.
 
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