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FDIC
See Federal deposit insurance corporation (FDIC).
Fed funds rate
The interest rate at which banks borrow surplus reserves and other immediately available funds. The federal funds rate is the shortest short-term interest rate, with maturities on federal funds concentrated in overnight or one-day transactions.
Federal deposit insurance corporation (FDIC)
An independent deposit insurance agency created by Congress in 1933 to maintain stability and public confidence in the nation's banking system. The FDIC promotes safety and soundness of insured depository institutions and the U.S. financial system by identifying, monitoring, and addressing risks to the deposit insurance funds; minimizes disruptive effects from the failure of banks and savings associations; and ensures fairness in the sale of financial products and provision of financial services.
One of the 12 operating arms of the Federal reserve system, that together with their 25 branches, carry out various system functions, including operating a nationwide payments system, distributing the nation's currency and coin, supervising and regulating member banks and bank holding companies, and serving as banker for the U.S. Treasury.
The central bank of the United States, created by Congress and made up of a seven-member board of governors, 12 regional federal reserve banks, and their 25 branches.
Financial crimes enforcement network (FinCEN)
Bureau of the United States Department of the Treasury that maintains a network whose goal it is to prevent and punish criminals and criminal networks that participate in money laundering and other financial crimes.
FinCEN
See Financial crimes enforcement network (FinCEN).
Float
Checkbook money that, for a period of time, appears on the books of both the payer and the payee due to the lag in the collection process.
