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.

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CONVERTIBLE CURRENCY is any national currency that can be easily exchanged for that of another country.

DEDICATED PORTFOLIO, in securities, is a portfolio where the cash flow from assets is matched in timing and amount to known liabilities.

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