Question

In case of a bank failure, which of the following guarantees customer deposits up to $250,000 per account?

First Bank of the United States

Federal Deposit Insurance Corporation

Federal Reserve Bank

Federal Reserve Board

Answer 1

Federal Deposit Insurance Corporation (FDIC)

Answer 2

The answer is: Federal Deposit Insurance Corporation

The Federal Deposit Insurance Corporation is a federal agency established in 1934 that guarantees depositors' savings up to $250,000 per account in most commercial banks, savings banks and savings associations. Therefore, if the bank fails, deposits are protected up to $250.000.