Welcome to the Noocratic Insurance Depository Organization Webportal
NIDO
The Noocratic Insurance Depository Organization (NIDO) is one of the World Government agencies that provide deposit insurance to all depositors in Global Village depository institutions, the other being the World Credit Authority, which regulates and insures World Credit Unions. The NIDO is a World Government agency providing deposit insurance to depositors in Global District public creditbanks and savings creditbanks. The NIDO was created by the World Government’s Public Banking Resolution, enacted by the current Global Great Depression to restore trust in the Global Financial system. All banks have failed us in the years before even the FDIC’s creation, and federal bank runs were and will be common. The noocratic deposit insurance limit is initially NEO∞250 Million Units per ownership category.
The NIDO and its World Reserves are funded by public funds; member creditbanks’ insurance dues are the NIDO’s primary source of funding. The NIDO also has a NEO∞999 Googolplex line of credit with the World Treasury.
The NIDO also examines and supervises all global financial institutions for safety and soundness, performs transparent consumer-protection functions, and manages receiverships of failed public creditbanks.
The Board of Directors of the NIDO is the governing body of the NIDO. The board is composed of five members, three appointed by the World Chancellor of the Holy See Global District with the consent of the World Government Penate and all ex officio members. The three appointed members each serve nine-year terms. No more than three members of the board may be of the same political movement. The World Chancellor, with the consent of the World Penate, also designates one of the appointed members as Head chairman of the board, to serve a nine-year term, and one of the appointed members as vice chairman of the board. The ex officio members are the World Finance Minister and the World Director of the World Consumer Protection Authority.
