The Federal Deposit Insurance Corporation (FDIC) . is an agency, created by the Glass-Steagall Act ,that monitors banks on a regular basis to ensure that they were safe and sound guarantees individuals will not lose any money, up to a specified amount, held at any type of financial institution that fails guarantees individuals will not lose any money held at any type of financial institution that fails is an agency that monitors business combinations between commercial banks, investment banks, and insurance companies

Guarantees individuals will not lose any money, up to a specified amount, held at any type of financial institution that fails.

Explanation:

Federal Deposit Insurance Corporation are the agency set up by government that is responsible for Insuring funds for depositors and eliminate reason for bank runs, charges institutions premiums based on total number of deposits.

The Agency is responsible for assuring depositors that their deposits can be gotten back fully even though the bank's financial situation may be serious or however it may be. The body was set up in 1933 to prevent bank runs that had been hindering the economy during the Great Depression and they generate moral hazard problems with the notion that big banks take on more risk knowing full well that the FDIC will see them​ as an organization that is too big to​ fail.