Glossary of Municipal Securities Terms

FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC)

Federal agency that guarantees (within limits) funds on deposit (other than securities) in member banks and thrift institutions, and performs other functions relating to the safety and soundness of its member institutions. The FDIC also enforcesĀ MSRB rules applicable to its member banks (other than banks that are members of the Federal Reserve System) that are municipal securities dealers. Compare: FEDERAL RESERVE BOARD; OFFICE OF THE COMPTROLLER OF THE CURRENCY.

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