Final answer:
The program likely to require a flood insurance policy as a condition of financial assistance is the Federal Housing Administration (FHA) program.
Step-by-step explanation:
In the United States, the Federal Deposit Insurance Corporation (FDIC) is responsible for deposit insurance. Banks pay an insurance premium to the FDIC, which ensures that depositors in a bank do not lose their money, even if the bank goes bankrupt.
However, the programs for deposit insurance do not require a flood insurance policy as a condition of financial assistance. Instead, flood insurance is typically required for certain types of loans, such as home improvement loans from a bank participating in the FDIC.
One example of a program that may require a flood insurance policy is the Federal Housing Administration (FHA) program. The FHA encourages banks to make low-cost loans to people seeking to buy new homes or rehabilitate old ones. Since flood damage can be costly, the FHA may require borrowers to have flood insurance as a condition of financial assistance.