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Bank Insurance Fund Bif

oboloo Glossary

Bank Insurance Fund Bif

Bank Insurance Fund BIF: also known as the Bank Deposit Insurance Fund, this is a US federal insurance program managed by the Federal Deposit Insurance Corporation to protect customer deposits in the state-chartered commercial banks. Banks make contributions into the fund and are reimbursed whenever one of their members fail, thereby providing an added layer of security and protection for customers’ investments.

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