Get FDIC: Temporary Liquidity Guarantee Program Frequently Asked ...

The Federal Deposit Insurance Corporation has served as an integral part of the nation's financial system for 50 years. Established by the Banking Act of 1933 at the depth of the most severe banking crisis in the nation's history, its immediate contribution was the restoration of public confidence in banks.

The Federal Deposit Insurance Corporation (FDIC) is known for protecting depositors, but we do more to connect with and protect the public. The FDIC was created in 1933 in response to the thousands of bank failures during the Great Depression of the late 1920s and early 1930s.

The mission of the Federal Deposit Insurance Corporation (FDIC) is to maintain stability and public confidence in the nation's financial system.

The FDIC was created following the wake of the Stock Market Crash of 1929 and the ensuing economic and social tragedy known as the Great Depression. Several years later in 1933, the Banking Act created the FDIC to ensure that bank depositors would have some sort of insurance.

The Federal Deposit Insurance Corporation (FDIC) is an independent agency that provides deposit insurance for bank accounts and other assets in the U.S. if a bank fails. The FDIC was created to help boost confidence among consumers about the health and well-being of the nation's financial system.

The Temporary Liquidity Guarantee Program was a two-pronged program of the FDIC to backstop U.S. banks during the 2008 financial crisis. The first part of the program, the TAGP, guaranteed customer deposits. The second, the DGP, guaranteed short-term debt issued by banks.

Investment products that are not deposits, such as mutual funds, annuities, life insurance policies and stocks and bonds, are not covered by FDIC deposit insurance.

E: The FDIC's purpose was to regulate the practices of banks and insure customers' deposits. People lost much of their confidence in the banking system due to their failures and money loss at the start of the Depression, and one of FDR's missions was to restore the lost confidence and create safer banking practices.