what does it mean when a bank is fdic insured? (1 point)\nit has insurance on the building.\nit has…
what does it mean when a bank is fdic insured? (1 point)\nit has insurance on the building.\nit has insurance on its investments.\nit guarantees that you wont lose all of your money.\nit is one of the top 100 banks in the world.
Answer
Brief Explanations:
The Federal Deposit Insurance Corporation (FDIC) is an independent U.S. government agency. When a bank is FDIC - insured, it means that deposits (up to a certain limit, currently $250,000 per depositor, per account ownership category) are protected. If the bank fails, the FDIC will reimburse depositors. So it guarantees that depositors won't lose all of their insured money. Insurance on the building or investments is not the role of FDIC. And being FDIC - insured has nothing to do with being one of the top 100 banks in the world.
Answer:
It guarantees that you won't lose all of your money.