FEDERAL DEPOSIT INSURANCE CORPORATION Definition

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FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC) is an agency of the federal government that insures accounts at most commercial banks and mutual savings banks. The FDIC also has primary federal supervisory authority over insured state banks that are not members of the Federal Reserve System.

Learn new Accounting Terms

DATE DRAFT is a payment option draft that matures in a specified number of days after the date issued.

COLLATERALIZE is to pledge property as security (collateral) for a debt.

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