by Abdurrahman simsek | Nov 25, 2024 | Banking Knowledge Base
FDIC insurance is a vital component of the U.S. banking system, providing a safeguard for depositors by insuring their funds in member banks. Established to bolster banking confidence, it covers specific deposit accounts up to $250,000 per depositor, per insured bank,...
by visbanking | Jun 14, 2023 | Banking Knowledge Base
Estimated reading time: 0 minutes Table of contentsI. IntroductionII. What is the FDIC?III. What does FDIC insurance cover?IV. How much does the FDIC insure?V. Is FDIC insurance mandatory?VI. How do I know if my bank is FDIC insured?VII. What happens if my bank...
by Ken Chase | May 16, 2023 | Banks, News
The Federal Deposit Insurance Corporation (FDIC) has unveiled a proposal to replenish its deposit insurance fund. The proposal released on Thursday would see the nation’s largest lenders bear more than 95% of the cost, according to a recent Reuters report. The fund...
by Ken Chase | Mar 28, 2023 | Banks, News
Estimated reading time: 2 minutes North Carolina-based regional bank First Citizens has agreed to purchase Silicon Valley Bank, according to a March 26 statement from the Federal Deposit Insurance Corporation (FDIC). The FDCI confirmed that it had agreed to the deal,...
by Ken Chase | Mar 13, 2023 | Banks, News
Estimated reading time: 2 minutes The Treasury Department, Federal Reserve Board, and Federal Deposit Insurance Corporation issued a joint statement on Sunday confirming that all Silicon Valley Bank uninsured deposits will be fully covered. The same announcement...
