Deposit Insurance Fund
E45152
The Deposit Insurance Fund is the pool of money managed by the FDIC that is used to protect depositors by covering insured losses when member banks fail.
Aliases (1)
Statements (48)
| Predicate | Object |
|---|---|
| instanceOf |
financial safety net
→
insurance fund → |
| administeredBy |
FDIC Board of Directors
→
|
| auditedBy |
U.S. Government Accountability Office
→
|
| beneficiary |
depositors of FDIC‑insured institutions
→
|
| canBorrowFrom |
U.S. Treasury under certain conditions
→
|
| componentOf |
FDIC deposit insurance system
→
|
| country |
United States
→
|
| covers |
insured deposits at FDIC‑insured banks
→
insured deposits at FDIC‑insured savings associations → |
| doesNotCover |
mutual funds and similar investments
→
securities such as stocks and bonds → uninsured deposits above the insurance limit → |
| effectiveDateOfFormation |
2006
→
|
| excludes |
losses due to market fluctuations in investment values
→
|
| formedBy |
merger of Bank Insurance Fund and Savings Association Insurance Fund
→
|
| fundedBy |
U.S. Treasury securities investments
→
assessments on FDIC‑insured depository institutions → investment income on fund assets → receivables from failed institutions → |
| governedBy |
FDIC regulations
→
|
| hasAbbreviation |
DIF
→
|
| hasLanguage |
English
→
|
| hasProperty |
backed by the full faith and credit of the United States government
→
|
| industry |
financial services
→
|
| jurisdiction |
United States federal government
→
|
| legalBasis |
Federal Deposit Insurance Act
→
|
| locatedIn |
United States
→
|
| maintainedAs |
separate fund on the books of the FDIC
→
|
| managedBy |
Federal Deposit Insurance Corporation
→
|
| measuredBy |
reserve ratio of the fund to estimated insured deposits
→
|
| monitoredBy |
FDIC
→
|
| notFundedBy |
general tax revenues under normal circumstances
→
|
| owner |
FDIC in its corporate capacity
→
|
| predecessor |
Bank Insurance Fund
→
Savings Association Insurance Fund → |
| purpose |
cover insured deposit losses when member banks fail
→
protect insured depositors of FDIC‑insured institutions → |
| regulates |
none (it finances resolutions rather than regulating directly)
→
|
| relatedTo |
FDIC insurance limit
→
FDIC risk‑based assessment system → |
| riskManagedBy |
risk‑based premiums charged to insured institutions
→
|
| sector |
banking
→
|
| subjectTo |
oversight by the U.S. Congress
→
statutory minimum reserve ratio requirements → |
| typeOfRiskCovered |
loss of insured deposits due to bank failure
→
|
| usedFor |
paying deposit insurance claims
→
resolving failed FDIC‑insured banks and savings associations → |
Referenced by (2)
| Subject (surface form when different) | Predicate |
|---|---|
|
Federal Deposit Insurance Corporation
→
|
operatesFund |
|
Board of Directors of the FDIC
("FDIC deposit insurance fund")
→
|
oversees |