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4. The Federal Deposit Insurance Corporation (FDIC) The National Credit Union Administration (NCUA) The Savings Association Insurance Fund (SAIF) Protection of Funds The Functions of Money and Banking > Protection of Funds Free to share, print, make copies and changes. Get yours at www.boundless.com www.boundless.com/business?campaign_content=book_6020_section_143&campaign_term=Business&utm_campaign=powerpoint&utm_mediu m=direct&utm_source=boundless

5. The FDIC promotes public confidence in the U.S. financial system by insuring depositors for at least $250,000 per insured bank. The FDIC receives no Congressional appropriations; it is funded by premiums that banks and thrift institutions pay for deposit insurance coverage and from earnings on investments in U.S. Treasury securities. The FDIC insures deposits only. It does not insure securities, mutual funds, or similar types of investments that banks and thrift institutions may offer. The FDIC was created in 1933 in response to the thousands of bank failures that occurred in the 1920s and early 1930s. The Federal Deposit Insurance Corporation (FDIC) Free to share, print, make copies and changes. Get yours at www.boundless.com www.boundless.com/business/textbooks/alternative-to-understanding-business-10th-william-nickels-james-mchugh-susan-mchugh-0077474511- 9780077474515/the-functions-of-money-and-banking-20/protection-of-funds-143/the-federal-deposit-insurance-corporation-fdic-689- 7866?campaign_content=book_6020_section_143&campaign_term=Business&utm_campaign=powerpoint&utm_medium=direct&utm_source=bo undless FDIC View on Boundless.com The Functions of Money and Banking > Protection of Funds

6. As the insurer and regulator of Federally chartered credit unions, the NCUA oversees credit union safety and soundness, much like the FDIC. To protect against the failure of credit unions, NCUA implemented a 12-month examination cycle for federally insured credit unions to detect problems in individual credit unions before they became insurmountable. The NCUA is governed by a three-member board appointed by the President of the United States and confirmed by the United States Senate. The president also chooses which member will serve in the position of chairman. The National Credit Union Administration (NCUA) Free to share, print, make copies and changes. Get yours at www.boundless.com www.boundless.com/business/textbooks/alternative-to-understanding-business-10th-william-nickels-james-mchugh-susan-mchugh-0077474511- 9780077474515/the-functions-of-money-and-banking-20/protection-of-funds-143/the-national-credit-union-administration-ncua-690- 1354?campaign_content=book_6020_section_143&campaign_term=Business&utm_campaign=powerpoint&utm_medium=direct&utm_source=bo undless View on Boundless.com The Functions of Money and Banking > Protection of Funds

7. The existence of two separate funds for the same purpose led to banks attempting to shift from one fund to another, depending on the benefits each could provide. In the 1990s, SAIF premiums were, at one point, five times higher than BIF premiums. In February 2006, President George W. Bush signed into law the Federal Deposit Insurance Reform Act of 2005 (FDIRA), which resulted in the merging of the Bank Insurance Fund (BIF) and the Savings Association Insurance Fund (SAIF) into a new fund, the Deposit Insurance Fund (DIF). Bank failures typically represent a cost to the DIF, because the FDIC, as receiver of the failed institution, must liquidate assets that have declined substantially in value while, at the same time, making good on the institution's deposit obligations. The Savings Association Insurance Fund (SAIF) Free to share, print, make copies and changes. Get yours at www.boundless.com www.boundless.com/business/textbooks/alternative-to-understanding-business-10th-william-nickels-james-mchugh-susan-mchugh-0077474511- 9780077474515/the-functions-of-money-and-banking-20/protection-of-funds-143/the-savings-association-insurance-fund-saif-691- 8178?campaign_content=book_6020_section_143&campaign_term=Business&utm_campaign=powerpoint&utm_medium=direct&utm_source=bo undless FDIC View on Boundless.com The Functions of Money and Banking > Protection of Funds

8. Free to share, print, make copies and changes. Get yours at www.boundless.com Appendix

9. Key terms FDIC The Federal Deposit Insurance Corporation (FDIC) is a United States government corporation operating as an independent agency that provides deposit insurance, which guarantees the safety of deposits in member banks, up to $250,000 per depositor per bank. NCUA The National Credit Union Administration (NCUA) is the independent federal agency created by the U.S. Congress to regulate, charter, and supervise federal credit unions. SAIF One of the two FDIC fund between 1989 and 2006, after which it merged with the Bank Insurance Fund to form the Deposit Insurance Fund in 2006 Free to share, print, make copies and changes. Get yours at www.boundless.com The Functions of Money and Banking

10. FDIC The Federal Deposit Insurance Corporation (FDIC) is an independent agency created by the Congress to maintain stability and public confidence in the nation's financial system. Free to share, print, make copies and changes. Get yours at www.boundless.com Federal Deposit Insurance Corportation. "FDIC: Ordering & Using FDIC Signs & Logos." CC BY http://www.fdic.gov/regulations/resources/signage/ View on Boundless.comCC BYhttp://www.fdic.gov/regulations/resources/signage/View on Boundless.com The Functions of Money and Banking

11. FDIC Between 1989 and 2006, there were two separate FDIC funds—the Bank Insurance Fund (BIF), and the Savings Association Insurance Fund (SAIF). Free to share, print, make copies and changes. Get yours at www.boundless.com Blogspot. "Financial Controls: Bank Failure Friday: FDIC Closes 6 Banks *YTD total now 125*." CC BY http://financialcontrols.blogspot.com/2010/09/bank-failure- friday-fdic-closes-6-banks.html View on Boundless.comCC BYhttp://financialcontrols.blogspot.com/2010/09/bank-failure- friday-fdic-closes-6-banks.htmlView on Boundless.com The Functions of Money and Banking

12. Free to share, print, make copies and changes. Get yours at www.boundless.com The Functions of Money and Banking The FDIC was created in 1933 in response to A) regulators' decision to close troubled financial institutions in the 1920s and early 1930s. B) the passage of the New Deal in the early 1930s. C) thousands of bank failures that occurred in the 1920s and early 1930s. D) bank violations of government regulations in the 1920s.

13. Free to share, print, make copies and changes. Get yours at www.boundless.comwww.boundless.com Boundless - LO. "Boundless." CC BY-SA 3.0 http://www.boundless.com/CC BY-SA 3.0http://www.boundless.com/ The Functions of Money and Banking The FDIC was created in 1933 in response to A) regulators' decision to close troubled financial institutions in the 1920s and early 1930s. B) the passage of the New Deal in the early 1930s. C) thousands of bank failures that occurred in the 1920s and early 1930s. D) bank violations of government regulations in the 1920s.

14. Free to share, print, make copies and changes. Get yours at www.boundless.com The Functions of Money and Banking Which of the following best describes the role of the FDIC in the United States financial system? A) To promote public confidence B) All of these answers. C) To examine and supervise financial institutions for safety and soundness D) To limit the effect on the economy and financial system when a bank or thrift institution fails

15. Free to share, print, make copies and changes. Get yours at www.boundless.comwww.boundless.com Boundless - LO. "Boundless." CC BY-SA 3.0 http://www.boundless.com/CC BY-SA 3.0http://www.boundless.com/ The Functions of Money and Banking Which of the following best describes the role of the FDIC in the United States financial system? A) To promote public confidence B) All of these answers. C) To examine and supervise financial institutions for safety and soundness D) To limit the effect on the economy and financial system when a bank or thrift institution fails

16. Free to share, print, make copies and changes. Get yours at www.boundless.com The Functions of Money and Banking The National Credit Union Share Insurance Fund was created by Congress in 1970 to A) insure member's deposits in federally insured credit unions. B) insure member's deposits in federally insured banks. C) make credit readily available to the public. D) place credit unions in conservatorship.

17. Free to share, print, make copies and changes. Get yours at www.boundless.comwww.boundless.com Boundless - LO. "Boundless." CC BY-SA 3.0 http://www.boundless.com/CC BY-SA 3.0http://www.boundless.com/ The Functions of Money and Banking The National Credit Union Share Insurance Fund was created by Congress in 1970 to A) insure member's deposits in federally insured credit unions. B) insure member's deposits in federally insured banks. C) make credit readily available to the public. D) place credit unions in conservatorship.

18. Free to share, print, make copies and changes. Get yours at www.boundless.com The Functions of Money and Banking The Deposit Insurance Fund was created in 2006 primarily to A) enforce two different prices for government-mandated deposit insurance. B) prevent market participants from buying and selling funds in order to profit from the differences in price. C) ensure the amount each institution is assessed is based on the balance of insured deposits and degree of risk the institution poses to the insurance fund. D) prevent another savings and loans crisis similar to the one during the 1980s.

19. Free to share, print, make copies and changes. Get yours at www.boundless.comwww.boundless.com Boundless - LO. "Boundless." CC BY-SA 3.0 http://www.boundless.com/CC BY-SA 3.0http://www.boundless.com/ The Functions of Money and Banking The Deposit Insurance Fund was created in 2006 primarily to A) enforce two different prices for government-mandated deposit insurance. B) prevent market participants from buying and selling funds in order to profit from the differences in price. C) ensure the amount each institution is assessed is based on the balance of insured deposits and degree of risk the institution poses to the insurance fund. D) prevent another savings and loans crisis similar to the one during the 1980s.

20. Attribution Wikipedia. "National Credit Union Administration." CC BY-SA 3.0 http://en.wikipedia.org/wiki/National_Credit_Union_AdministrationCC BY-SA 3.0 http://en.wikipedia.org/wiki/National_Credit_Union_Administration Wikipedia. "NCUA." CC BY-SA 3.0 http://en.wikipedia.org/wiki/NCUACC BY-SA 3.0http://en.wikipedia.org/wiki/NCUA Wikipedia. "NCUA." CC BY-SA 3.0 http://en.wikipedia.org/wiki/NCUACC BY-SA 3.0http://en.wikipedia.org/wiki/NCUA Federal Deposit Insurance Corportation. "FDIC: Who is the FDIC?." Public domain http://www.fdic.gov/about/learn/symbol/index.htmlPublic domain http://www.fdic.gov/about/learn/symbol/index.html Federal Deposit Insurance Corportation. "FDIC: FDIC Mission, Vision, and Values." Public domain http://www.fdic.gov/about/mission/index.htmlPublic domain http://www.fdic.gov/about/mission/index.html Federal Deposit Insurance Corportation. "FDIC: Frequently Asked Questions for About FDIC." Public domain http://www.fdic.gov/about/affaq.htmlPublic domain http://www.fdic.gov/about/affaq.html Connexions. "Capital Markets." CC BY 3.0 http://cnx.org/content/m22820/latest/CC BY 3.0http://cnx.org/content/m22820/latest/ Wikipedia. "FDIC." CC BY-SA 3.0 http://en.wikipedia.org/wiki/FDICCC BY-SA 3.0http://en.wikipedia.org/wiki/FDIC Saylor. CC BY http://www.saylor.org/site/wp-content/uploads/2012/05/Bus101-Book-May2011.pdfCC BYhttp://www.saylor.org/site/wp-content/uploads/2012/05/Bus101-Book-May2011.pdf Wikipedia. "SAIF." CC BY-SA 3.0 http://en.wikipedia.org/wiki/SAIFCC BY-SA 3.0http://en.wikipedia.org/wiki/SAIF Wikipedia. "Federal Deposit Insurance Corporation." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Federal_Deposit_Insurance_Corporation#Deposit_Insurance_FundCC BY-SA 3.0 http://en.wikipedia.org/wiki/Federal_Deposit_Insurance_Corporation#Deposit_Insurance_Fund Free to share, print, make copies and changes. Get yours at www.boundless.com The Functions of Money and Banking