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Federal Deposit Insurance Corporation (view source)
Revision as of 15:38, October 22, 2012
, 15:38, October 22, 2012expand with history of insurance limits
[[Image:FdicLogo.png|right|200px]]
[[Image:FdicLogo.png|right|200px]]
The '''Federal Deposit Insurance Corporation''' (FDIC) is an agency which insures deposits in bank institutions in the event of [[money|financial]] failure. Current policies insure the first $250,000 of deposits for an account holder. It was established during [[Franklin Delano Roosevelt]]'s [[New Deal]], through the Glass-Steagall Act of 1933.
The '''Federal Deposit Insurance Corporation''' (FDIC) is an agency which insures deposits in bank institutions in the event of [[money|financial]] failure. Current policies insure the first $250,000 of deposits for an account holder. It was established during [[Franklin Delano Roosevelt]]'s [[New Deal]], through the Glass-Steagall Act of 1933.
Initially, the FDIC insured the first $2,500 in each deposit account. In July 1934, the limit was raised to $5,000. In 1969 the limit was raised to $20,000, and in 1974 it increased to $40,000. In 1980, the limit was raised to $100,000.<ref>{{cited web|url=http://www.fdic.gov/news/news/speeches/archives/1997/sp23jan97.html|title=FDIC Symposium:History of the Eighties: Lessons for the Future|author=Ricki Helfer, FDIC Chairman|date=January 16, 1997|accessdate=October 22, 2012}}</ref>
==References==
<references/>
[[category:United States Government Agencies]]
[[category:United States Government Agencies]]
[[category:New Deal]]
[[category:New Deal]]
[[category:Finance]]
[[category:Finance]]