|Federal Deposit Insurance Corporation (FDIC)
|| Washington, D.C.
|| Deposit insurer
| Twitter ID
| Web site
The Federal Deposit Insurance Corporation (FDIC) was created by Congress though the Glass-Steagall Act in 1933 in response the frequent bank failures of the 1920s and early 1930s. As an independent agency, the FDIC is charged with maintaining stability in the U.S. financial system by insuring deposits, supervising financial institutions and managing receiverships.
Additionally, one of the provisions of the Dodd-Frank Act required the FDIC to establish rules regarding the orderly liquidation of any systemically important financial company encountering a default.
For more background on the FDIC, see the FDIC MarketsWiki page.
Duties Related to the Dodd-Frank Act
The Dodd-Frank Act authorizes or requires the FDIC to complete initiatives in a number of areas.
Key FDIC rulemakings include:
- ↑ FDIC Initiatives under the Dodd-Frank Wall Street Reform and Consumer Protection Act. FDIC. Retrieved on March 15, 2011.
- ↑ FDIC Mission, Vision, and Values. FDIC. Retrieved on March 15, 2011.