Whois & Analysis for merrickbank.com

The Federal Deposit Insurance Corporation (FDIC) is a United States government corporation providing deposit insurance to depositors in US banks.

The FDIC was created by the 1933 Banking Act during the Great Depression to restore trust in the American banking system; more than one-third of banks failed in the years before the FDIC's creation, and bank runs were common.

The insurance limit was initially US$2,500 per ownership category.

Since the passage of the Dodd–Frank Wall Street Reform and Consumer Protection Act in 2011, the FDIC insures deposits in member banks up to US $250,000 per ownership category.

A bank is a financial institution that accepts deposits from the public and creates credit.

Lending activities can be performed either directly or indirectly through capital markets.

Due to their importance in the financial stability of a country, banks are highly regulated in most countries.

Most nations have institutionalized a system known as fractional reserve banking under which banks hold liquid assets equal to only a portion of their current liabilities.

In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, known as the Basel Accords.

Insurance is a means of protection from financial loss.

It is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss.

A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay a merchant for goods and services, based on the cardholder's promise to the card issuer to pay them for the amounts so paid plus other agreed charges.

The card issuer (usually a bank) creates a revolving account and grants a line of credit to the cardholder, from which the cardholder can borrow money for payment to a merchant or as a cash advance.

1,000,000,000 (one billion, short scale; one thousand million or milliard, yard, long scale) is the natural number following 999,999,999 and preceding 1,000,000,001.

One billion can also be written as b or bn.