Deposit Insurance Corporation (DIC)

The Deposit Insurance Corporation (DIC) is a government or semi-government agency that protects depositors' savings in banks and financial institutions. Its primary role is to ensure that if a bank fails or goes bankrupt, depositors will still get a certain amount of their money back, up to a specified limit. This helps maintain public confidence in the banking system and reduces the risk of bank runs. The DIC funds its guarantee through premiums paid by member institutions and operates to promote stability and trust within the financial sector.