The FDIC was created 90 years ago to help the U.S. navigate a catastrophe that put thousands of banks out of business. Its mission is to keep panic and turbulence from collapsed institutions like ...

Updated March 14, 2023 at 8:05 AM ET. The FDIC was created 90 years ago to help the U.S. navigate a catastrophe that put thousands of banks out of business.

Key takeaways The FDIC is an independent agency of the U.S. government that protects bank customers from losing their money ...

In this instance, the FDIC created the Deposit Insurance National Bank of Santa Clara to receive all of SVB's assets and sell them as needed so that as many depositors as possible can get their money.

The FDIC was created by the Banking Act of 1933 as the Great Depression of the 1930s was ongoing, during which many banks failed and many Americans lost their much-needed deposits.

Eliminating the FDIC, which was created during the Great Depression nearly 100 years ago, would require authorization from Congress. The agency, which operates independently, insures deposits up ...

Eliminating the FDIC, which was created during the Great Depression nearly 100 years ago, would require authorization from Congress. The agency, which operates independently, insures deposits up ...

The FDIC exists to help the banking system cope with exactly this type of crisis: When it was created in 1933, some 4,000 banks had closed in the first few months alone.

The FDIC was created 90 years ago to help the U.S. navigate a catastrophe that put thousands of banks out of business. Its mission is to keep panic and turbulence from collapsed institutions like ...

When it was established in 1933, some 4,000 banks had closed in the first few months alone. The FDIC is relying on one of its main tools — deposit insurance — to prevent more banks from failing.

The FDIC exists to help the banking system cope with exactly this type of crisis: When it was created in 1933, some 4,000 banks had closed in the first few months alone.

When it was established in 1933, some 4,000 banks had closed in the first few months alone. The FDIC is relying on one of its main tools — deposit insurance — to prevent more banks from failing.