Answer:
FDIC gives guarantee and insures the deposits
Explanation:
FDIC Stands for Federal deposit insurance corporation. Whenever the banking system fails in an economy FDIC provides security to all those who have deposited their money in the banks. It gives the guarantee.
FDIC insures the deposits of all the banks of the US.
It was created to build public confidence. Before FDIC there was no safety of deposits. On bank failures, the depositors used to rush and tried to withdraw their money first.
