fdic created during great depression
Contact. The Federal Deposit Insurance Corporation, insures deposits in savings and banking institutions. When depositing funds with an FDIC-insured institution, your deposits are covered up to $100,000.The FDIC was created during the financial chaos of the Great Depression.The stock market crash in October of 1929, and the subsequent crash in March of 1933, prompted the U.S. Government to create a federally-backed corporation that would provide stability and reassurance to the public.ontact. The Federal Deposit Insurance Corporation, insures deposits in savings and banking institutions. When depositing funds with an FDIC-insured institution, your deposits are covered up to $100,000.