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hereamp;#39;s your money briefing for Tuesday March 14th Iamp;#39;m J.R Whalen for the Wall Street Journal people with money tied up in Silicon Valley Bank and Signature Bank that failed over the weekend breathed the sigh of relief when the government announced that their cash Holdings would be protected by the FDIC so how does the FDIC work and how would it protect you if you had cash at a bank that failed Wall Street Journal personal finance reporter Amani moiz is here to explain Amani thank you for being with us happy to be here so Amani weamp;#39;ve heard a lot about the FDIC in the past few days and a lot of people probably see signage for it when they go to their Bank what is the FDIC and whatamp;#39;s its role so FDIC stands for Federal Deposit Insurance Corporation which was created in the 1930s after the Great Depression to restore public faith in the banking system after a lot of Americans lost their life savings in a series of bank failures so essentially itamp;
