Which agency insures bank deposits?

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Multiple Choice

Which agency insures bank deposits?

Explanation:
Deposit insurance is provided by a U.S. government agency that protects bank deposits, so customers won’t lose their money if a bank fails. The agency responsible is the Federal Deposit Insurance Corporation, created during the banking crises of the 1930s to restore confidence in the financial system. It covers deposits at insured banks and savings institutions, including checking accounts, savings accounts, money market deposit accounts, and NOW accounts, up to $250,000 per depositor, per insured bank, for each ownership category. It does not cover investments like stocks, bonds, mutual funds, or other non-deposit products. The other agencies listed regulate environmental protection, securities markets, and space programs; they do not insure bank deposits.

Deposit insurance is provided by a U.S. government agency that protects bank deposits, so customers won’t lose their money if a bank fails. The agency responsible is the Federal Deposit Insurance Corporation, created during the banking crises of the 1930s to restore confidence in the financial system. It covers deposits at insured banks and savings institutions, including checking accounts, savings accounts, money market deposit accounts, and NOW accounts, up to $250,000 per depositor, per insured bank, for each ownership category. It does not cover investments like stocks, bonds, mutual funds, or other non-deposit products. The other agencies listed regulate environmental protection, securities markets, and space programs; they do not insure bank deposits.

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