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Deposit Insurance
Deposit insurance, deposit protection or deposit guarantee is a measure implemented in many countries to protect bank depositors, in full or in part, from losses caused by a bank's inability to pay its debts when due. Deposit insurance or deposit guarantee systems are one component of a financial system safety net that promotes financial stability. Process Banks are allowed (and usually encouraged) to lend or invest most of the money deposited with them instead of safe-keeping the full amounts (see fractional-reserve banking). If many of a bank's borrowers fail to repay their loans when due, the bank's creditors, including its depositors, risk loss. Because they rely on customer deposits that can be withdrawn on little or no notice, banks in financial trouble are prone to bank runs, where depositors seek to withdraw funds quickly ahead of a possible bank insolvency. Because banking institution failures have the potential to trigger a broad spectrum of harmful events, including ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Countries
A country is a distinct part of the Earth, world, such as a state (polity), state, nation, or other polity, political entity. When referring to a specific polity, the term "country" may refer to a sovereign state, List of states with limited recognition, state with limited recognition, Country (other)#Administrative divisions, constituent country, or dependent territory. Most sovereign states, but not all countries, are members of the United Nations. There is no universal agreement on List of sovereign states, the number of "countries" in the world, since several states have disputed sovereignty status or limited recognition, and a number of non-sovereign entities are commonly considered countries. The definition and usage of the word "country" are flexible and have changed over time. ''The Economist'' wrote in 2010 that "any attempt to find a clear definition of a country soon runs into a thicket of exceptions and anomalies." Areas much smaller than a political entit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Guaranteed Investment Certificate
A guaranteed investment certificate (GIC, ) is a Canadian investment that offers a guaranteed rate of return over a fixed period of time, most commonly issued by trust companies or banks. Due to its low risk profile, the return is generally less than other investments such as stocks, bonds, or mutual funds. It is similar to a time or term deposit as it is known in other countries. Overview The rate of return on a GIC varies depending on the various factors, such as the length of the term and specified interest rates from the Bank of Canada. At the time of purchase, the rate is higher than the interest on a savings account. The return on the investment will be low if the savings interest rate becomes higher than the GIC rate of return and will be high otherwise. The principal amount is not at risk unless the bank defaults. The guarantee for GICs is provided by the Canada Deposit Insurance Corporation (CDIC) up to a maximum of $100,000 (principal and interest combined), as long ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Deposit Guarantee Scheme Directive
The Deposit Guarantee Scheme Directive 2014/49 also referred to as DGS Directive or DGSD2014/49 is a Directive in EU law that requires bank customers' deposits are guaranteed by member states up to €100,000. Contents Article 1 says the subject matter is rules about "deposit guarantee schemes". Article 3 requires member states designate relevant authorities. Article 6 requires that the "coverage level" is €100,000 "in the event of deposits being unavailable". It also requires greater coverage for 3 months to 12 months for residential transactions, social purposes or insurance and compensation money. This directive updates the previous ''directive 94/19/EC'' of 30 May 1994 on deposit-guarantee schemes. Article 8 requires repayment within a maximum of 10 working days, and 7 working days from 2024. Further reading * See also *EU law *UK enterprise law British enterprise law concerns the ownership and regulation of organisations producing goods and services in the UK, Eu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Depositors Insurance Fund
The Depositors Insurance Fund is a deposit insurance scheme that protects depositors at member savings banks in Massachusetts. It was created in 1934 by the state government of Massachusetts in response to the large number of Massachusetts bank failures during the Great Depression of the 1930s. This fund was the inspiration for the formation of the Federal Deposit Insurance Corporation (FDIC). After the FDIC was created, the state fund was modified to cover all amounts not covered by the FDIC. Typically the FDIC covers the first $250,000;https://secure.umassfive.org/news/250000_ncua_share_insurance.html the Massachusetts fund will cover any amount above that. As a result, account holders in Massachusetts savings banks (and Massachusetts co-operative banks, whose excess deposits are similarly insured by the Share Insurance Fund of The Co-operative Central Bank) generally have all of their deposits insured by the combination of the state fund and the FDIC. References {{Reflist Exter ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Massachusetts
Massachusetts ( ; ), officially the Commonwealth of Massachusetts, is a U.S. state, state in the New England region of the Northeastern United States. It borders the Atlantic Ocean and the Gulf of Maine to its east, Connecticut and Rhode Island to its south, New Hampshire and Vermont to its north, and New York (state), New York to its west. Massachusetts is the List of U.S. states and territories by area, sixth-smallest state by land area. With a 2024 U.S. Census Bureau-estimated population of 7,136,171, its highest estimated count ever, Massachusetts is the most populous state in New England, the List of U.S. states and territories by population, 16th-most-populous in the United States, and the List of states and territories of the United States by population density, third-most densely populated U.S. state, after New Jersey and Rhode Island. Massachusetts was a site of early British colonization of the Americas, English colonization. The Plymouth Colony was founded in 16 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Securities Investor Protection Corporation
The Securities Investor Protection Corporation (SIPC ) is a federally mandated, non-profit, member-funded, United States government corporation created under the Securities Investor Protection Act (SIPA) of 1970 that mandates membership of most US-registered broker-dealers. Although created by federal legislation and overseen by the Securities and Exchange Commission, the SIPC is neither a government agency nor a regulator of broker-dealers. The purpose of the SIPC is to expedite the recovery and return of missing customer cash and assets during the liquidation of a failed investment firm. Board of Directors The SIPC has a Board of Directors which determines the policies that govern the operations of the SIPC. The board consists of seven members. All members serve for terms of three years. Two members of the board are appointed by the Secretary of the Treasury and the Federal Reserve Board from among the officers and employees of the Department of the Treasury and from among t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Credit Union Administration
The National Credit Union Administration (NCUA) is an American government-backed insurer of Credit unions in the United States, credit unions in the United States, one of two agencies that provide deposit insurance to depositors in U.S. depository institutions, the other being the Federal Deposit Insurance Corporation (FDIC), which insures commercial banks and savings institutions. The NCUA is an Independent agencies of the United States government, independent federal agency created by the United States Congress to regulate, charter, and supervise federal credit unions. With the backing of the full faith and credit of the U.S. government, the NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 124 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. Besides the Share Insurance Fund, the NCUA operates three other funds: the NCUA Operating Fund, the Central Liq ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Credit Unions In The United States
Credit unions in the United States served 100 million members, comprising 43.7% of the economically active population, in 2014. U.S. credit unions are not-for-profit, cooperative, tax-exempt organizations. The clients of the credit unions become partners of the financial institution and their presence focuses in certain neighborhoods because they center their services in one specific community. As of March 2020, the largest American credit union was Navy Federal Credit Union, serving U.S. Department of Defense employees, contractors, and families of servicepeople, with over $125 billion in assets and over 9.1 million members. Total credit union assets in the U.S. reached $1 trillion as of March 2012. Approximately 236,000 people were directly employed by credit unions per data derived from the 2012 National Credit Union Administration (NCUA) Credit Union Directory. As of 2019, there were 5,236 federally insured credit unions with 120.4 million members, and deposits of $1.22 tri ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Great Depression
The Great Depression was a severe global economic downturn from 1929 to 1939. The period was characterized by high rates of unemployment and poverty, drastic reductions in industrial production and international trade, and widespread bank and business failures around the world. The economic contagion began in 1929 in the United States, the largest economy in the world, with the devastating Wall Street stock market crash of October 1929 often considered the beginning of the Depression. Among the countries with the most unemployed were the U.S., the United Kingdom, and Weimar Republic, Germany. The Depression was preceded by a period of industrial growth and social development known as the "Roaring Twenties". Much of the profit generated by the boom was invested in speculation, such as on the stock market, contributing to growing Wealth inequality in the United States, wealth inequality. Banks were subject to laissez-faire, minimal regulation, resulting in loose lending and wides ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Czechoslovakia
Czechoslovakia ( ; Czech language, Czech and , ''Česko-Slovensko'') was a landlocked country in Central Europe, created in 1918, when it declared its independence from Austria-Hungary. In 1938, after the Munich Agreement, the Sudetenland became part of Nazi Germany, while the country lost further territories to First Vienna Award, Hungary and Trans-Olza, Poland (the territories of southern Slovakia with a predominantly Hungarian population to Hungary and Zaolzie with a predominantly Polish population to Poland). Between 1939 and 1945, the state ceased to exist, as Slovak state, Slovakia proclaimed its independence and Carpathian Ruthenia became part of Kingdom of Hungary (1920–1946), Hungary, while the German Protectorate of Bohemia and Moravia was proclaimed in the remainder of the Czech Lands. In 1939, after the outbreak of World War II, former Czechoslovak President Edvard Beneš formed Czechoslovak government-in-exile, a government-in-exile and sought recognition from the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
American Civil War
The American Civil War (April 12, 1861May 26, 1865; also known by Names of the American Civil War, other names) was a civil war in the United States between the Union (American Civil War), Union ("the North") and the Confederate States of America, Confederacy ("the South"), which was formed in 1861 by U.S. state, states that had Secession in the United States, seceded from the Union. The Origins of the American Civil War, central conflict leading to war was a dispute over whether Slavery in the United States, slavery should be permitted to expand into the western territories, leading to more slave states, or be prohibited from doing so, which many believed would place slavery on a course of ultimate extinction. Timeline of events leading to the American Civil War, Decades of controversy over slavery came to a head when Abraham Lincoln, who opposed slavery's expansion, won the 1860 presidential election. Seven Southern slave states responded to Lincoln's victory by seceding f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mexican Unidad De Inversión
The ''unidad de inversión'' (UDI, literally "investment unit", ISO 4217 code MXV) is an index unit of funds used in Mexico. It can be traded in many currency markets because its value changes with respect to currencies. The value of the UDI was first set at one Mexican peso on April 4, 1995, after the Mexican peso crisis. Unlike currencies, it is designed to maintain a constant purchasing power with respect to the general consumer price index and not be subject to inflation In economics, inflation is an increase in the average price of goods and services in terms of money. This increase is measured using a price index, typically a consumer price index (CPI). When the general price level rises, each unit of curre .... The Mexican credit system (especially mortgages) uses the UDI rather than the peso because of its stability. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
